The global drum pump market is expected to be valued at US$ 503.6 Million in 2022. Increasing adoption of advanced technology for effectively delivering the drug to the target site is expected to drive overall market growth. The overall demand for Drum Pump is projected to grow at a CAGR of 6.2% between 2022 and 2032, totaling around 921.0 Million by 2032.
According to Future Market Insights, Europe will have an 18.0% market share of the global Drum Pump market by 2022. Due to strong technology adoption and a developing equipment manufacturing industry throughout the region, Europe has a significant market share.
According to IFFFA, the increasing use of manual tools throughout the industry is the primary factor limiting market growth in the area. Germany and the United Kingdom have a significant share of the regional market due to the increasing expansion of food and beverage and specialty chemical producers in the region.
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Drum Pump – Market Dynamics
Growth in demand of the drum pump market is expected to raise muscularly for numerous reasons. One of the significant factors contributes towards the growth of the drum pump is growing demand by the various industry including oil, chemical, milk, and lubricant etc. Industries import and export the liquids in the big container rather than the small container for saving the shipping and transportation cost.
For dispensing the liquid from big container industries prefer drum pump, so it drives the drum pump market positively. It allows speedy transfer of liquid without spillage it is another factor which contribute to the growth of the drum pump market. Moreover, drum pump saves considerable time, resources & manpower for dispensing the liquid and allow flow control at outlet through the ball valve, they also participate in the growth of the drum pump market.
The demand of the drum pump market is expected to witness an above average growth due to increase in the demand for drum pump by various industry.Many industrial fluids being very heavy once they are filled into a drum and barrel. Forgetting the liquid outside the drum or barrel manufacturer use drum pump instead of trying to get the liquid by tipping. High demand of the drum pump is generated by the various industries and it is expected to grow during the forecast period.
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Drum Pump – Market Segmentation
Globally, the drum pump market can be segmented on the basis of product type, by material and by application. On the basis of product type drum pump market is segmented into Electric driven, Hydraulic, Rotary / Manual pump, Pneumatic, and others. On the basis of material type drum pump market is segmented into plastic and metal. The plastic segment is sub-segmented into Chlorinated Polyvinyl Chloride (CPC), Polypropylene (PP), Polyvinylidene Fluoride (PVDF) and others.
The metal segment is sub-segmented into Stainless steel, cast iron, aluminium, and others. On the basis of application type drum pump market is segmented into Petroleum industry, Chemical plants, Food processing plants, Manufacturing plants, Automotive industry, wastewater treatment, laboratories etc.
Drum Pump Market – Regional Outlook
The drum pump market can be segmented into North America, Latin America, Europe, Middle East, Africa and Asia Pacific. North America is anticipated to be the largest market for the drum pump market, primarily driven by manufacturer preference towards drum pump which acts as cost-effective and efficient dispenser tools for variety of liquid. Latin America also has a good presence in the drum pump market.
Furthermore, Eastern Europe followed by the Middle East is anticipated to be the second largest marketfor the drum pump. The recent development in the drum pump market has shifted its production base to the east, especially in Asia, the emerging players from China, India and Middle East have started taking the market share in the drum pump industry.
Drum Pump Market – Key Players
Few of the major players identified across the globe in the drum pump market are Fluidyne Instruments Pvt. Ltd., FLUX, Kecol Pumping Systems Ltd,Iwaki Pumps Australia Pty Ltd, JESSBERGER GnbH, Finish Thompson Inc., Lutz Pumps, Inc, NZ Pump Company Inc, Graco etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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