The analysis of the worldwide drum pump industry is projected to generate US$ 503.6 million in 2022. Between 2022 and 2032, sales of drum pumps are expected to grow at a CAGR of 6.2 percent, reaching a total value of US$ 921.0 million. The demand for drum pumps increased at a value CAGR of 5.7 percent between 2016 and 2021.
Oil and lubricants are becoming more necessary as industry spreads to both developed and developing countries. Liquids like oil and lubricants are kept in tanks, drums, barrels, and other containers. To empty liquids from tanks, drums, and other containers, drum pumps provide a compact, portable choice. Drum pumps are suitable for moving corrosive and lubricating liquids including vegetable oil, motor oil, diesel, and gasoline. milk, hydraulic oil, acid, and alcohol.
Many industrial fluids become incredibly heavy after they are dumped into a drum or barrel. Instead of attempting to tip the liquid out of the drum or barrel, manufacturers that forget to do so use a drum pump. All industries have a significant demand for drum pumps, and it is expected to rise during the projected period.
Drum pumps are the best option for removing liquid from tanks since they reduce the risk of spillage or wastage as well as the possibility of an operator accident or injury. Due to their various advantages, drum pumps are the finest choice for dispensing liquid.
Drum Pump – Market Dynamics
For a variety of reasons, the demand for drum pumps is likely to grow rapidly. The increasing demand by various industries, such as those in the oil, chemical, milk, and lubricant sectors, among others, is one of the important elements influencing the expansion of the drum pump. To save shipping and transportation costs, industries import and export liquids in large containers rather than small ones.
Industries favor drum pumps for dispensing liquid from large containers, which benefits the drum pump industry. Another element that contributes to the expansion of the drum pump market is its ability to quickly transfer fluids without spilling. Additionally, drum pumps contribute to the expansion of the drum pump industry by saving a significant amount of time, resources, and labor while distributing liquid and enabling flow control at the output using a ball valve.
Due to a rise in demand for drum pumps by various industries, the demand for drum pumps is anticipated to expand above normal.
Drum Pump – Market Segmentation
The drum pump market can be divided into global segments based on application, material, and product type. The drum pump market is divided into Electric powered, Hydraulic, Rotary / Manual pump, Pneumatic, and others based on product type. The market for drum pumps is divided into two categories based on the material used: plastic and metal. Chlorinated Polyvinyl Chloride (CPC), Polypropylene (PP), Polyvinylidene Fluoride (PVDF), and others are sub-segments of the plastics market.
The metal section is further divided into cast iron, aluminum, stainless steel, and other materials. The market is divided into the petroleum industry, chemical plants, food processing plants, manufacturing plants, automotive industry, wastewater treatment plants, labs, etc. based on the application type of drum pumps.
Drum Pump Market – Regional Outlook
North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific are the regions into which the drum pump market can be divided. The preference of manufacturers for drum pumps, which serve as affordable and effective dispenser equipment for a variety of liquids, is expected to make North America the largest market for drum pumps. The drum pump market is well-represented in Latin America as well.
Eastern Europe is also predicted to be the drum pump’s second-largest market, followed by the Middle East. The drum pump sector has recently seen a change in its production base to the east, particularly in Asia, as new manufacturers from China, India, and the Middle East have begun to gain market share.
Drum Pump Market – Key Players
Fluidyne Instruments Pvt. is among a select group of the market’s leading companies recognized globally for drum pumps. Graco, Finish Thompson Inc., FLUX, Kecol Pumping Systems Ltd, Iwaki Pumps Australia Pty Ltd, JESSBERGER GnbH, Lutz Pumps, Inc., NZ Pump Company Inc., and others.
The study is a compilation of data collected directly from industry participants and specialists along the value chain, as well as qualitative and quantitative evaluations by industry analysts. The research offers an in-depth analysis of market trends in the parent market, macroeconomic data, controlling variables, and market attractiveness by segment. The qualitative effects of key market parameters on market segments and geographical areas are also mapped in the research.
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