Drum Handling Equipment Market Segments, Drivers, Restraints, And Trends For 2024-2033

Drum Handling Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, August 2, 2024 /EINPresswire.com/ — The drum handling equipment market has experienced robust growth in recent years, expanding from $2.53 billion in 2023 to $2.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to industrial growth and manufacturing activities, stringent occupational safety regulations, expansion of the chemical and pharmaceutical sectors, rise in oil and gas exploration and refining, increased international trade and logistics.

Strong Future Growth Anticipated
The drum handling equipment market is projected to continue its strong growth, reaching $3.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing demand in the food and beverage industry, expansion of the renewable energy sector, globalization and supply chain complexity, rise in e-commerce and warehousing activities, integration of iot and automation.

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Growth Driver Of The Drum Handling Equipment Market
The expansion of the chemical industry is expected to propel the growth of the drum-handling equipment market going forward. The expansion of the chemical industry refers to the development and innovation in the chemical industry, which includes increased capital investments in newer fields. Drum handling equipment can help improve chemical handling operations’ efficiency by making it easier to move drums from one location to another. It helps to prevent spills and leaks by providing a secure and stable way to move drums.

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Drum Handling Equipment Market Major Players And Market Trends
Key players in the drum handling equipment market include Komatsu Ltd., Wesco Industrial Products LLC, KION Group AG, Jungheinrich AG, Hyster-Yale Group Inc., Crown Equipment Corporation.

Major companies operating in the drum handling equipment market are developing innovative products such as stainless drums and barrel rotators to meet customer requirements for a solution that could safely and efficiently rotate fragile and slippery plastic drums. A stainless steel drum and barrel rotator is a custom-made piece of equipment designed to turn drums and barrels.

Drum Handling Equipment Market Segments:
1) By Type: Manual Drum Handling Equipment, Automatic Drum Handling Equipment
2) By Distribution Channel: Direct, Indirect
3) By Application: Food, Chemicals, Pharmaceutical, Industrial, Other Applications

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the drum handling equipment market in 2023. The regions covered in the drum handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Drum Handling Equipment Market Definition
Drum handling equipment is a range of mechanical equipment used to securely hold, move, shift, and transport cylindrical modules such as steel drums, barrels, plastic drums, and fiber drums. It is commonly used in industries that require the shipping and storing of cylindrical modules, such as the chemical and petroleum industries.

Drum Handling Equipment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Drum Handling Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on drum handling equipment market size, drum handling equipment market drivers and trends, drum handling equipment market major players, drum handling equipment competitors’ revenues, drum handling equipment market positioning, and drum handling equipment market growth across geographies. The drum handling equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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