What are Drum Pumps?
In both developed and developing countries, industrialisation is increasing due to the growing industrial demand for oil and lubricant. Liquids such as oil and lubricants are stored in barrels, drums, tanks, etc. A drum pump is a type of lightweight, small, portable solution to empty the liquids out of barrel pumps, drums, tanks, etc. A drum pump is suited for gasoline, diesel oil, gasoline, alcohol, acid, hydraulic oil, milk, vegetable oil and some other corrosive and lubricative liquid transfer.
Numerous industrial fluids are very heavy after they are added to a barrel or drum. To get the liquid out of the barrel or drum, manufacturers use a drum pump rather than attempting to get the liquid out through tipping. The drum pump is in high demand from a number of different industries, and this demand is expected to continue to grow throughout the forecast period. The best solution to empty liquid from tanks is to use a drum pump and it reduces the chance of wastage and spillage and also lowers the risk of the operator being injured or involved in an accident. The drum pump is the leading option for outing liquid due to the numerous advantages that it offers.
Market Dynamics of the Drum Pump
It is expected that growth in demand for the drum pump market will continue to increase significantly for several reasons. One of the most significant factors contributing towards drum pump growth is increased demand from various industries including lubricant, milk, chemical, oil, etc. The liquids are imported and exported by industries in a large container instead of a small one to save on transportation and shipping costs. To dispense liquid from large containers, industries prefer using the drum pump, which positively drives the drum pump market. It enables quick transfer of liquid without any spillage which is another factor contributing to the drum pump market’s growth. The drum pump also saves a lot of time, manpower, and resources for dispensing liquids and allow flow control through the ball valve, which also contributes to drum pump market growth. It is expected that the drum pump market will witness above average growth in demand due to increased demand from various industries for the drum pump.
Market Segmentation of the Drum Pump
The drum pump market globally may be segmented based on application, by material, or product type. Based on product type it is segmented into Pneumatic, Manual, Rotary, Hydraulic, or Electric driven type of pump and others.
Based on type of material, the drum pump market is classified into metal and plastic. Then the plastic segment is further segmented into Polyvinylidene Fluoride (PVDF), Polypropylene (PP), Chlorinated Polyvinyl Chloride (CPC), and others. On the basis of metal it is further sub-segmented into aluminum, cast iron, and stainless steel, and others.
The drum pump market based on application type is further segmented into laboratories, wastewater treatment, automotive industry, manufacturing plants, food processing plants, chemical plants, petroleum industry, etc.
Regional Outlook on the Drum Pump Market
The drum pump market may be further segmented into Asia Pacific, Africa, Middle East, Europe, Latin America, and North America. It is anticipated that North America will be the biggest market for drum pumps, driven primarily by manufacturers preferring drum pumps that act as efficient and cost-effective dispenser tools for various liquids. Also, Latin America has a strong presence within the drum pump market. Eastern Europe and then the Middle East are anticipated to be the second biggest market for drum pumps.
Recent developments within the drum pump market have shifted the production base over to the east, particularly in Asia, with emerging players from the Middle East, India, and China having started to take more market share within the drum pump industry.