Drum Dumper Market - Huge Profitable Business & Next Big Thing to Adhering Social/Physical Distancing Considering Covid-19 Pandemics
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.
Major Players:
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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