Expansion Of The Chemical Industry To Boost Drum Handling Equipment Market: An Emerging Driver Transforming The Drum Handling Equipment Market Landscape

The Drum Handling Equipment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Drum Handling Equipment Market?
In the recent past, there has been substantial growth in the market size of drum handling equipment. It is projected to escalate from $2.73 billion in 2024 to $2.93 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%. Factors that have contributed to this growth over the historical period include industrial development, manufacturing activities, rigid occupational safety rules, growth in the chemical and pharmaceutical industries, an upsurge in oil, gas exploration and refining, and augmentation in international trade and logistics.

Anticipated robust advancements in the drum handling equipment market are expected to propel the market size to $3.83 billion by 2029, with a steady Compound Annual Growth Rate (CAGR) of 6.9%. The upturn during the forecast period can be credited to increasing demands within the food and beverage industry, the burgeoning renewable energy sector, the complexities born of globalization and supply chain, as well as the growth of e-commerce and warehousing activities, coupled with the integration of iot and automation. The forecast period will also see prevalent trends such as technological enhancements in handling equipment, merging of electric and hydraulic technologies, improvements in automated drum handling systems, a heightened focus on eco-friendly and sustainable solutions, and a surge in requirements for customization and versatility.

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What Are the Different Drum Handling Equipment Market Segments?
The drum handling equipment market covered in this report is segmented -

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

Subsegments:
1) By Manual Drum Handling Equipment: Drum Lifters, Drum Trolleys, Drum Rollers, Drum Cradles
2) By Automatic Drum Handling Equipment: Automated Drum Dispensing Systems, Robotic Drum Handling Systems, Electric Drum Lifters, Conveyor Systems For Drums

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What Are the Primary Drivers Shaping the Drum Handling Equipment Market?
The growth of the drum-handling equipment industry is anticipated to be powered by the chemical industry's expansion. The chemical industry's expansion pertains to enhancements and breakthroughs, including greater capital investments in new sectors. Drum handling tools aid in enhancing the effectiveness of chemical management procedures by simplifying the transportation of drums from one place to another. They mitigate spillage and leakage by offering a reliable and steady method for moving drums. For instance, the U.S. Bureau of Labor Statistics, an American government body, reported in July 2023 that the US export trade value of chemical manufacturing goods in 2022 was $288.0 billion, implying a 13.4% growth compared to the previous year. Hence, the chemical industry's growth stimulates the drum-handling equipment market's expansion. Expanding e-commerce and warehouse facilities are expected to be another engine driving the drum-handling equipment market's progression. E-commerce signifies the electronic transaction of goods, services, funds, or data via an electronic medium, typically the Internet. A warehouse is a large structure used for storing manufactured items or raw materials until they're exported or shipped to retail outlets. Drum handling machinery is pivotal in optimizing tasks in e-commerce and warehouse setups, promoting efficient transport and storage of goods and ensuring the safety of the workplace. For example, SellersCommerce, an American B2B e-commerce platform, revealed in September 2024 that total e-commerce sales in the US for Q2 2024 were $291.6 billion, signifying a 6.8% rise compared to $273.03 billion in Q2 2023. Consequently, the burgeoning e-commerce and warehouse facilities sector is further propelling the drum-handling equipment market's growth.

Which Companies Are Leading in the Drum Handling Equipment Market?
Major companies operating in the drum handling equipment market report are Komatsu Ltd., Wesco Industrial Products LLC, KION Group AG, Jungheinrich AG, Hyster-Yale Group Inc., Crown Equipment Corporation, Hangcha Group Co. Ltd., Lonking Holdings Limited, SSI SCHAEFER Group, Beumer Group GmbH, RUD Group, METO Systems Inc., EP Equipment Co. Ltd., Flexicon Corporation, Beacon Industries Inc., Pentalift Equipment Corporation, Greenfield Products LLC, Valley Craft Industries Inc., BHS Inc., Morse Manufacturing Co. Inc., Lift Products Inc., Material Flow and Conveyor Systems Inc., Ruger Industries Inc., Wuxi Tongyang Machinery Technology Co. Ltd., Drum Runner Material Handling Co., Easy Lift Equipment Company Inc., Eastwest Engineering & Electronics Pvt. Ltd., KIJEKA Engineers Pvt Ltd., Liftomatic Material Handling Inc.

What Are the Major Trends Shaping the Drum Handling Equipment Market?
Key players in the drum handling equipment market are advancing their product offerings by introducing solutions like stainless drums and barrel rotators. These innovations are specifically designed to handle delicate and slippery plastic drums effectively and safely. Notably, a stainless-steel drum and barrel rotator is a bespoke equipment designed for rotating drums and barrels. In March 2022, for example, an industrial machinery production firm based in the UK, Packline Materials Handling, initiated the introduction of a Stainless Drum and Barrel Rotator. This multipurpose device can manage different types of drums and barrels containing food ingredients. The unit includes a structural frame equipped with a lifting mechanism and a drum rotating attachment. The lifting system is motor-powered and is capable of lifting up to 200kg drums. The rotating drum component is engineered to securely hold the drum, preventing any potential slippage. The equipment also features a fixed-stop position for handling food ingredients, making it an invaluable asset for entities within the food industry. It presents a safe, efficient, and adaptable solution to manage food ingredient drums across varying applications.

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What Are the Top Revenue-Generating Geographies in the Drum Handling Equipment Market?
Asia-Pacific was the largest region in the drum handling equipment market in 2024. The regions covered in the drum handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Drum Handling Equipment Market?
2. What is the CAGR expected in the Drum Handling Equipment Market?
3. What Are the Key Innovations Transforming the Drum Handling Equipment Industry?
4. Which Region Is Leading the Drum Handling Equipment Market?

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