The global drum pump market is expected to be valued at USD 506.7 million in 2023. 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 6.3% between 2023 and 2033, totaling around USD 927.8 million by 2033.
| Attribute | Details |
|---|---|
| Drum Pump Market Share (2022) | USD 503.6 million |
| Drum Pump Market Share (2023) | USD 506.7 million |
| Drum Pump Market Share (2033) | USD 927.8 million |
| Drum Pump Market Share (2023 to 2033) | 6.3% |
Drum pumps are portable pumps designed exclusively to facilitate 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 opening of containers to allow the safe passage of fluids. 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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The global demand for Drum Pumps is projected to increase at a CAGR of 6.3% during the forecast period between 2023 and 2033, reaching a total of USD 927.8 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 5.7%.
In recent years, the prominent players invested in quality assurance and implemented two new pump test stands for the final inspection of drum pumps and the testing of centrifugal pumps and air-operated pumps. Thereby, surplus investments and favorable industrial policies spurred demand for drum pumps.
In addition, the technological advances taking place in the industry, coupled with the current and emerging trends witnessed in the leading regional market are projected to propel the market growth for drum pumps over the forecast period.
Soaring Application in Several End-use Industries to Push Global Demand for Drum Pumps
The demand for drum pumps is likely to rise sharply for a variety of reasons. One of the major causes contributing to the expansion of the drum pump is the increasing demand from various industries such as oil, chemical, milk, and lubricant, among others. Industries import and export liquids in large containers rather than tiny containers to reduce shipping and transportation costs.
Moreover, drum pumps are preferred for distributing liquid from large container industries, which boosts the drum pump market favorably. It provides for the rapid transfer of liquid without spilling, which contributes to the growth of the drum pump industry.
Furthermore, drum pumps save significant time, money, and people for dispensing liquid and offer flow control at the output via the ball valve; they thus contribute to the expansion of the drum pump industry. The need for drum pumps is predicted to expand faster than normal due to an increase in demand from various industries.
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Small Diameter of Input Hose May Impede Market Growth
Most drum pumps have an input hose diameter of 50 mm, and the limited area has resulted in slurries and solid viscous material being handled at the bottom of the pumps. During the projection period, the aforementioned aspect is projected to represent a challenge for drum pump producers.
Electricity demand has expanded tremendously over the world, and the drum pump industry is no exception. Many drum pump manufacturers are extensively investing in motor downsizing and small product design to make it suitable for usage in any location or situation.
Furthermore, in recent years, the usage of an electric motor rather than a hand-operated crank mechanism or manual crank machine has saved valuable time in transportation and material handling cost-cutting. As a result, electric-driven drum pumps are regarded as a significant market growth trend.
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Increasing Oil Expeditions & Surplus Investments in Chemical Industry to Rev Up Sales of Drum Pump in the Region
North America is expected to be a promising market for drum pumps, owing to manufacturers' preference for drum pumps, which serve as cost-effective and efficient dispenser equipment for a wide range of liquids. Future Market Insights expects the North American market to accumulate 14% of total revenue in 2023.
North America dominates the drum pump market due to significant investment by major companies in the area and a well-established chemical sector in the local market. Furthermore, established market players such as Grundfos, Flowserve Corporation, and others are contributing to the region's market growth.
Increasing oil field search expeditions in the United States, as well as a developing specialty chemical manufacturing industry across the area, are factors thought to bolster the expansion of the North American regional market.
Rising Prevalence of Manual Tools to Generate Dominating Revenue Share in the Region
According to Future Market Insights, Europe is expected to hold a dominant market share of 18.0% in the global Drum Pump market as of 2023. Europe has a significant market share due to strong technology adoption and a developing equipment manufacturing industry throughout the region.
According to IFFFA, the rising prevalence of manual tools across the industry is the primary factor limiting market growth in the area. Because of the increasing expansion of food and beverage and specialty chemicals producers in the region, Germany and the United Kingdom have a significant part of the regional market.
The advent of Modern Technologies to Expand Application of Drum Pumps in the Region
The Asia Pacific is predicted to be the most important region in the Drum Pump Market due to the area's well-established chemical and food and beverage and chemical manufacturing industries, as well as the deployment of electric-driven drum pumps in regional factories.
China leads the market, followed by India, Japan, Korea, and others, owing to expanding oil and gas pipeline projects throughout the world and increased government backing for the chemical and additives production industry
In October 2021, Grundfos introduced its LC232 Controller, a new groundwater pump controller which helps to advance smart agriculture in four markets in the Asia Pacific region. Owing to these factors, the increasing advancements by prominent players have boosted the market growth for drum pumps.
There are many prominent market players in the Drum Pump market, who are working hand-in-hand to provide the best-in-class Drum Pump for enhancing the global analytics arena. However, many global start-ups in the Drum Pump market are stepping forward in matching the requirements of the Drum Pump domain.
Founded in 2018, Henry Pumps is an e-distributor of water management supplies. Offerings include offer drainage pumps, drainage pumps, engine-driven pumps, hydraulic pumps, hose & accessories, and other associated products. The brands associated with the company are Koshin, Pentax, Caprari, Flotec, and more. The company is based out of Alfreton, (United Kingdom).
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Product Type, Material Type, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The drum pumps market is expanding at a 6.3% CAGR from 2023 to 2033.
The drum pumps market expanded at a 5.7% CAGR from 2018 to 2022.
North American drum pumps market anticipates 14% of total revenue accumulation in 2023.
Europe holds 18.0% of the drum pumps market share in 2023.
The drum pumps market will reach USD 927.8 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Electric Driven 5.2. Hydraulic 5.3. Rotary / Manual 5.4. Pneumatic 5.5. Other Types 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Plastic 6.1.1. Chlorinated Polyvinyl Chloride (CPC) 6.1.2. Polypropylene (PP) 6.1.3. Polyvinylidene Fluoride (PVDF) 6.1.4. Others 6.2. Metal 6.2.1. Stainless Steel 6.2.2. Cast Iron 6.2.3. Aluminium 6.2.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Petroleum Industry 7.2. Chemical Plants 7.3. Food Processing Plants 7.4. Manufacturing Plants 7.5. Automotive Industry 7.6. Wastewater Treatment 7.7. Laboratories 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Fluidyne Instruments Pvt. Ltd. 18.2. FLUX 18.3. Kecol Pumping Systems Ltd 18.4. Iwaki Pumps Australia Pty Ltd 18.5. JESSBERGER GmbH 18.6. Finish Thompson Inc. 18.7. Lutz Pumps 18.8. NZ Pump Company Inc. 18.9. Graco 18.10. ATM 18.11. Finish Thompson 19. Assumptions & Acronyms Used 20. Research Methodology
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Drum Pump Market
