Drum Pump Market Is Projected To Grow At A CAGR Of 6.2% Between 2022 And 2032 | FMI

In 2022, the global drum pump market is expected to be worth US$ 503.6 million. The increasing adoption of advanced technology for delivering drugs to the target site is expected to drive overall market growth. Drum Pump demand is expected to grow at a CAGR of 6.2% between 2022 and 2032, reaching around 921.0 Million by 2032.

Drum pumps are portable pumps that are specifically designed to allow for the safe and efficient transfer of low-viscosity fluids from one container to another. They eliminate the need to pivot heavy barrels by fitting on the upper openings of containers to allow fluids to pass safely. Drum pumps are available in different materials, models, and tube lengths for different liquids. Different electric drum pumps can be driven by the same motor.

Many industrial fluids are quite heavy if put into a drum. When the liquid is outside the drum, the producer should utilize a drum pump instead of tips to obtain the liquid. Various industries produce high demand for drum pumps, which is likely to increase throughout the forecast period.

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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.

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.

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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.

Key Segments Covered in the Drum Pump Industry Analysis
Drum Pump Market by Product Type:
• Electric Driven Drum Pumps
• Hydraulic Drum Pumps
• Rotary / Manual Drum Pumps
• Pneumatic Drum Pumps
• Other Drum Pump Types

Drum Pump Market by Material Type:
• Plastic Drum Pumps
• Metal Drum Pumps

Drum Pump Market by Application:
• Drum Pumps for the Petroleum Industry
• Drum Pumps for Chemical Plants
• Drum Pumps for Food Processing Plants
• Drum Pumps for Manufacturing Plants
• Drum Pumps for Automotive Industry
• Drum Pumps for Wastewater Treatment
• Drum Pumps for Laboratories

Drum Pump Market by Region:
• North America Drum Pump Market
• Latin America Drum Pump Market
• Europe Drum Pump Market
• Asia Pacific Drum Pump Market
• The Middle East & Africa Drum Pump Market

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This release was published on openPR.