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The Progressing Cavity Pump Market report by Technavio forecasts a USD 1.39 billion growth from 2021 to 2026. The comeback of investments in the oil and gas sector is one of the primary reasons driving the global advancing cavity pump market growth. The market is expected to register a YOY growth of 5.65% in 2022.To get more news about progressive cavity pump spare parts, you can visit brysonpump.com official website.
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across segments such as end-user (Oil and gas, water and wastewater, chemical and petrochemical, food and beverage, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). This report helps businesses create strategies to make the most of future growth opportunities.
The comeback of investments in the oil and gas sector is one of the primary reasons driving the global advancing cavity pump market growth. Progressing cavity pumps, which are used to pump heavy and viscous crude oil, processed petroleum products, and other feedstock, are utilized extensively in the oil and gas industry.

The use of progressing cavity pumps enables the pumping of untreated oil well products, which can be a mixture of oil, gas, condensates, water, and solids. This will drive market growth in the coming years. Although factors such as volatility in raw material prices may impact the market growth.
Segmentation by Service:

The oil and gas industry will raise its cavity pump market share significantly. The oil and gas industry's expansion is likely to have a direct impact on the demand for progressive cavity pumps from a variety of end-user sectors. Demand for advancing cavity pumps will rise as shale and tight oil drilling activities increase in North America and APAC.

Segmentation by Geography:

APAC will account for 33% of the market's growth. In APAC, China and India are the most important markets for advancing cavity pumps. The market in this region will grow faster than the markets in North America, South America, and the Middle East and Africa.

The expansion of the progressing cavity pump market in APAC will be aided by a large increase in demand for progressing cavity pumps as a result of increased investment in end-user industries such as the oil and gas industry throughout the projected period.