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3. Schlumberger (US) and National Oil Well (US) are the Major Players in the Progressing Cavity Pump Market

The global progressing cavity pump market is projected to reach a market size of USD 4.08 Billion by 2023, growing at a CAGR of 6.24% during the forecast period. In 2018, the market in North America is estimated to be the largest for progressing cavity pump, followed by Asia Pacific. This trend is expected to continue until 2023. The growth of the progressing cavity pump market is driven by the investment in water & wastewater management and oil & gas sectors.

The progressing cavity pump market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the market include Schlumberger (US), National Oil Well (US), Xylem (US), NETZSCH (France), PCM (France), Weatherford (US), Halliburton (US), Borets (UAE), Dover (US), National Oilwell (US), CIRCOR (US), , and Seepex (Germany).

The major strategies adopted by leading market players include new product developments, mergers & acquisitions, investments & expansions, contracts & agreements, joint ventures, and partnerships & collaborations. New product developments was the most commonly adopted strategy from January 2014 to February 2018. Investment & expansion was the second-most widely followed strategy during the same period. Two of the leading market players are highlighted in the section below.

Schlumberger Limited is one of the leading providers of products, services, technology, information solutions, and integrated project management for the global oil & gas exploration and production industry. The company manages its business through three groups, namely, reservoir characterization, drilling, and production. The production group covers the principal technologies involved in the lifetime production of oil & gas reservoirs. The segment includes multiple products and services such as artificial lift, well services, completions, well intervention, water services, integrated production services, and production management services. The company has 125 research and engineering technology centers across the globe and has operations in 85 countries globally. In April 2016, Schlumberger, Ltd. (US) formed a joint venture company named as OneSubsea with Cameron International Corporation (US) in order to develop systems, products, and services for the subsea oil & gas market.

National Oilwell Varco, Inc. manufactures, designs, and sells oil field equipment and components for the upstream exploration and production sector of the oil & gas industry. The company operates through four segments, namely, rig systems, wellbore technologies, completion and production solutions, and rig aftermarket. The completion & production segment of the company provides technologies for well completions and production for oil & gas. This segment manufactures, designs, and sells equipment and technologies used in onshore production, hydraulic fracture stimulation, well intervention, and offshore production. Artificial lift products are manufactured, designed, and sold under the onshore production section of the completion & production segment. The company conducts its operations across six continents in approximately 835 locations. The company leased and owns about 300 manufacturing and repair facilities, 400 service centers, and 135 sales, engineering, and administration facilities.

Related Reports:

Progressing Cavity Pump Market by Power Rating (Up to 50 hp, 51-150 hp, Above 150 hp), End User (Oil & Gas (Application, Well Type), Water & Wastewater, Food & Beverage, Chemical & Petrochemical, and Others), Region - Global Trends and Forecast to 2023

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