Drum Dumper Market Size | Upcoming Trends, Business Opportunities and Forecast 2030
Drum Dumper Market Overview:
According to Market Research Future (MRFR), the global drum dumper market is expected to reach USD 1854 MN by 2030, growing at 6.85% CAGR during the forecast period (2022 -2030). The increasing trend of mass production in major end-use industries to minimize the overall manufacturing cost boosts the growth of the market. Additionally, the burgeoning hospitality industry and the rising number of hotels and restaurants worldwide substantiate market growth.
The Drum Dumper Market is continually registering an impressive growth rate. The market growth attributes to the extensive uptake of drum dumpers across the end-user industry verticals. Besides, a wide range of applications, including drum dispensing in hazardous and non-hazardous areas, drive the market's growth. Moreover, wide uses of drum dumpers in the food, chemicals, pharmaceutical, and industrial sector for safe and efficient operations escalate the market growth.
Substantial R&D investments in product developments act as a major tailwind for the growth of the market. Increasing sales and uptake of the drum dumpers, influence market growth. Conversely, high capital investment and the various counterfeited, low-cost products floating in the market are the primary factors projected to impede the market growth. Nevertheless, increasing drum dumper applications in several industrial operations would support market growth throughout the assessment period.
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Global Drum Dumper Market - Segments
The report is segmented into four dynamics;
By Power Source: Hydraulic and Electric.
By Product Type: Portable Drum Dumpers and Stationary Drum Dumpers.
By Application : Food, Chemicals, Pharmaceutical, Industrial, and others.
By Regions : Europe, North America, APAC, and Rest-of-the-World.
Global Drum Dumper Market - Regional Analysis
North America dominates the global drum dumper market. The largest market share attributes to the wide adoption of technologically advanced products. Besides, the high penetration of application areas in industries such as food, chemicals, pharmaceutical, and industrial drives the market growth in the region. Also, the strong presence of notable industry players in the region positively impacts the market's growth.
Moreover, the well-developed economy and the high per capita disposable income of demographics substantiate the dumpers market share of the region. The US & Canada markets provide an enormous impetus to the regional market growth. The North American drum handling equipment market is expected to retain its dominance throughout the assessment period.
The Asia Pacific region stands second in the global drum dumper market. Market growth attributes to the booming F&B and pharmaceutical sector and rapid economic growth in the region. With its raw material advantage and cost-competitive workforce, the region fosters the growth of the regional market, attracting many foreign investors.
Additionally, increasing the numbers of production plants and the increasing adoption of material handling equipment across industry verticals in the region propel the market size. APAC countries like India and China account for larger shares in the regional market, witnessing exponential growth. The APAC drum dumper market is projected to create a substantial revenue pocket during the forecast period.
Europe too holds a sizable share in the drum dumper manufacturers. Factors such as the augmented demand from growing numbers of restaurants and rising exports of material handling equipment, mainly in France & Italy, boost the regional market growth. Germany, Italy, and France are key markets in the region. The European drum dumper market is expected to increase at a steady growth rate during the review period.
Drum Dumper Market - Competitive Analysis
Highly competitive, the drum dumper market appears fragmented due to the presence of several well-established players. Some of them even have an excellent international presence. Mergers & acquisitions, collaboration, expansion, and product/technology launch are key trends observed among the market players. Drum dumper market players strive to create products with precision.
Players leading the drum dumper market include Valley Craft Industries (US), METO Systems (US), Vestil Manufacturing Corp. (US), Flexicon Corporation (US), Beacon Industries (US), Wuxi Tongyang Machinery (China), Liftomatic Material Handling, Inc. (US), National Bulk Equipment, Inc. (US), Drum Runner (US), KIJEKA Engineers (India), Ruger Industries (US), Air Process Systems & Conveyors Co., Inc. (US), KY Industries (India), and Easy Lift Equipment (US), among others.
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