Global Drum Handling Equipment Market demand is anticipated to be valued at US$ 2.5 Billion in 2022, forecast to grow at a CAGR of 6.29% to be valued at US$ 4.6 Billion from 2022 to 2032. The growth of the Drum Handling Equipment Market is attributed to its global utilization across the Industrial Automation industry.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 1.3 Billion |
| Expected Market Value (2022) | US$ 2.5 Billion |
| Anticipated Forecast Value (2032) | US$ 4.6 Billion |
| Projected Growth Rate (2022-2032) | 6.29% CAGR |
Drum handling equipment refers to a piece of mechanical equipment or tool that is used to securely grip, lift and transport cylindrical modules such as steel drums, barrels, plastic drums and fiber drums. It consists of spring-loaded metal arms that create a tight and secure grip.
This equipment is commonly used in chemical and petroleum industries, as well as industries that require shipping and storing of cylindrical modules. In the rubber tire and tube industry, a drum handler may also refer to a worker who primarily removes drums of rubberized fabric wrapped between layers of canvas for separation from the bias cutter and rolls the drums to the tire-building department, returning empty drums and canvas liner for rewinding.
Asia Pacific is considered to be a dominant region for the Drum Handling Equipment Market, owing to the increasing industrialization in the region.
The major factor that is expected to propel the growth of the Drum Handling Equipment Market during the forecast period includes increasing investments by the major manufacturers for carrying out R&D activities in the field of drum handling equipment.
The factor that is expected to hinder the growth of the Drum Handling market during the forecast period includes the limited adoption of drum handling equipment in small scale industries.
The major factor that is expected to boost the growth of the Drum Handling Equipment Market during the forecast period includes the increasing trend of mass production, which is further expected to minimize the production cost in major end-use industries.
A drum handling equipment is widely used in the food, chemicals, pharmaceutical, industrial, and other industries for safe and efficient drum dumping at various heights and serve a wide range of applications, including drum dispensing in hazardous and non-hazardous areas. This is another major factor that is driving the growth of the Drum Handling Equipment market during the forecast period.
The increasing investments by the major manufacturers for carrying out R&D activities in the field of drum handling equipment development to enhance the overall drum handling equipment performance, efficiency, are expected to offer promising growth opportunities for the global drum dumper market players in the coming years.
Some other major factors that are expected to accelerate the adoption of drum handling equipment during the forecast period include ease of use, safety considerations, and efficiency of materials handling. Moreover, drum handling equipment play a key role in ensuring the safety of the human labor involved in the process. The absence of drum handling equipment increased risks such as back strains, finger or toe crushing, or other physical injuries which might result from mishandling of heavy drums. This is one of the major factors that favors the market growth.
The major factor that is expected to hamper the growth of the Drum Handling Equipment Market during the forecast period includes the limited adoption of drum handling equipment in small scale industries.
Asia Pacific has a widely spread Drum Handling market, owing to the increasing industrialization in the region. In addition, China and India have been witnessing unprecedented industrial development in the past couple of decades, which in turn is expected to create lucrative opportunities for the Drum Handling market in the region during the forecast period.
Moreover, growing demand for materials handling equipment in the fast-growing industrial economies of Asia Pacific is another major factor for the market growth in the region. Additionally, Asia Pacific Drum Handling market is expected to expand at a 5% CAGR during the forecast period.
According to Future Market Insights, Europe is anticipated to witness growth at a lucrative rate over the forecast period, owing to the stringent regulatory policies in the region, which place high importance on workplace safety. This factor is expected to fuel the growth of the Drum Handling market in the region.
Further, new growth opportunities from the growing warehouse sector in the European countries including UK, Germany and France are expected to accelerate the market growth in the region in the forthcoming years.
Some of the key participants present in the global Drum Handling Equipment Market include BAUER GmbH, DENIOS UK, Vestil Manufacturing, Valley Craft Industries, Inc., Materials Handling Pty Ltd, Morse Mfg. Co., Inc., Easy Lift Equipment Co., Inc., Liftomatic Material Handling, Inc., Patel Material Handling Equipment Private Limited, and Nido Machineries Pvt Ltd, among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as BAUER GmbH, and DENIOS UK account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
| Growth Rate | CAGR of 6.29% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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FMI projects the global Drum Handling Equipment Market to expand at a 6.29% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Drum Handling Equipment Market, expanding at a 5% CAGR
BAUER GmbH, DENIOS UK, Vestil Manufacturing, Valley Craft Industries, Inc., Materials Handling Pty Ltd, and Morse Mfg. Co., Inc., among others are some prominent Drum Handling Equipment Market players
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