Global Drum Handling Equipment Market demand is anticipated to be valued at US$ 2.5 Billion in 2022, forecast to grow at a CAGR of 6.29% to be valued at US$ 4.6 Billion from 2022 to 2032. The growth of the Drum Handling Equipment Market is attributed to its global utilization across the Industrial Automation industry.
Drum handling equipment refers to a piece of mechanical equipment or tool that is used to securely grip, lift and transport cylindrical modules such as steel drums, barrels, plastic drums and fiber drums. It consists of spring-loaded metal arms that create a tight and secure grip.
This equipment is commonly used in chemical and petroleum industries, as well as industries that require shipping and storing of cylindrical modules. In the rubber tire and tube industry, a drum handler may also refer to a worker who primarily removes drums of rubberized fabric wrapped between layers of canvas for separation from the bias cutter and rolls the drums to the tire-building department, returning empty drums and canvas liner for rewinding.
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Asia Pacific is considered to be a dominant region for the Drum Handling Equipment Market, owing to the increasing industrialization in the region.
The major factor that is expected to propel the growth of the Drum Handling Equipment Market during the forecast period includes increasing investments by the major manufacturers for carrying out R&D activities in the field of drum handling equipment.
The factor that is expected to hinder the growth of the Drum Handling market during the forecast period includes the limited adoption of drum handling equipment in small scale industries.
What are the Challenges Faced by the Drum Handling Equipment Industry?
The major factor that is expected to hamper the growth of the Drum Handling Equipment Market during the forecast period includes the limited adoption of drum handling equipment in small scale industries.
How is Asia Pacific emerging as an Opportunistic Drum Handling Equipment Market?
Asia Pacific has a widely spread Drum Handling market, owing to the increasing industrialization in the region. In addition, China and India have been witnessing unprecedented industrial development in the past couple of decades, which in turn is expected to create lucrative opportunities for the Drum Handling market in the region during the forecast period.
Moreover, growing demand for materials handling equipment in the fast-growing industrial economies of Asia Pacific is another major factor for the market growth in the region. Additionally, Asia Pacific Drum Handling market is expected to expand at a 5% CAGR during the forecast period.
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Key Segments Profiled in the Drum Handling Equipment Industry Survey
- Drum Lifter
- Drum Tilter
- Drum Handling Dollies
- Drum Trolley
- Drum Fork Lift Attachment
- Drum Care Attachment
- Drum Palletizer
- Drum Stacker
- Mechanical Drum Handling Equipment
- Hydraulic Drum Handling Equipment
- Drum Handling Equipment Less than 30 Gallon Drums
- Drum Handling Equipment from 30 to 55 Gallon Drums
- Drum Handling Equipment Above 55 Gallon Drums
- Metal Drum Handling Equipment
- Plastic & Fiber Drum Handling Equipment
End Use Industry:
- Drum Handling Equipment for the Chemical Industry
- Drum Handling Equipment for the Oil & Petrochemical Industry
- Drum Handling Equipment for Food & Beverages
- Drum Handling Equipment for the Pharmaceutical Industry
- Drum Handling Equipment for Logistics & Warehousing
- Drum Handling Equipment for Other End Use Industries
- North America
- Latin America
- Western Europe
- CIS & Russia
- Middle East & Africa
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