Global Barrel Pump Market– Introduction
- A barrel pump is a small pump with an extended suction duct. It is designed to pump liquid from barrels, with a small motor attached to the shaft, which runs on AC and DC electric motor. Barrel pumps are generally used to decant fluid additives during the preparation of treatment fluids at the well site.
- Barrel pumps contain a vertical shaft inside a thin tube that fits inside the barrel opening. In addition, the pump motor in a barrel pump is attached to the shaft, which is at the top of the tube and above the barrel. The pumping component is positioned at the end of the shaft inside the barrel.
- Barrel pumps are portable and lightweight, and are used for emptying the fluids from drums, tanks, and barrels. Additionally, a barrel pump is used to transfer corrosive liquid, acid, engine oil, diesel oil, hydraulic oil, alcohol, gasoline, and other lubricating liquid.
- Barrel pumps are the ideal solution for emptying fluids from containers, so as to avoid wastage or spillage, and also to reduce the chance of an accident to the operator.
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Global Barrel Pump Market–Dynamics
Key Drivers of the Barrel Pump Market
- Growing industrialization in developing and developed countries is leading to increased demand for oil and lubricants, which is expected to drive the barrel pump market during the forecast period.
- Barrel pumps are becoming a preferred choice in various industries such as oil and gas, chemicals, pharmaceutical, and food & beverages globally, due to export and import of liquids or fluids in large containers or drums rather than small containers, so as to save transportation cost and shipping cost. This in turn is augmenting the demand for barrel pumps.
- Furthermore, one of the main features of barrel pumps i.e. speedy transfer of liquids from containers without spillage is expected to positively boost the growth of the barrel pump market.
- Moreover, barrel pumps save considerable time, manpower, and resources in the process of dispensing the fluid, which in turn is anticipated to drive the growth of the market.
North America to Hold Major Share followed by Europe in the Global Barrel Pump Market
- North America is expected to hold the largest share followed by Europe in the barrel pump market due to the presence of established manufacturers such as Flowserve Corporation, Wilhelmsen Holding ASA, Grundfos, and JESSBERGER GmbH which is one of the important factors augmenting market growth in the region.
- Asia Pacific is expected to hold a significant share followed by the Middle East in the global barrel pump market during the forecast period. This is due to the attractive economic growth, production of oil and gas, and favorable government policies regarding importing and exporting oil across the world.
- The economic situation across the world is complicated with many uncertainties in the coming years. Government regulations and extensive production of oil and gas in the international market can increase the demand for barrel pumps in mature markets such as Europe and North America.
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Global Barrel Pump Market–Competition Landscape
Key Players Operating in the Global Market
The global barrel pump market is highly concentrated with top manufacturers accounting for approximately 45%–50% of the market share. A few of the key players operating in the global barrel pump market are:
- Flowserve Corporation
- Wilhelmsen Holding ASA.
- Schlumberger Limited
- JESSBERGER GmbH
- Ebara Corporation
- Graco Inc.
- Finish Thompson, Inc.
- Bürkle GmbH
Global Barrel Pump Market–Research Scope
The global barrel pump market can be segmented based on:
- Gallon containers
- Product type
- Distribution channel
Global Barrel Pump Market, by Type
Based on type, the global barrel pump market can be divided into:
- Lever barrel pump
- Rotary barrel pump
- Piston barrel pump
- Centrifugal pump
- Hand barrel pump
Global Barrel Pump Market, by Gallon Containers
On the basis of gallon containers, the global barrel pump market can be segmented into:
- 5 gallon
- 15 gallon
- 30 gallon
- 55 gallon
- 275 gallon
- 330 gallon
- 1000 gallon
- 1250 gallon containers
Global Barrel Pump Market, by Product Type
Based on product type, the global barrel pump market can be classified into:
Global Barrel Pump Market, by Distribution Channel
Based on distribution channel, the global barrel pump market can be segregated into:
- Direct sale
Global Barrel Pump Market, by Application
Based on application, the global barrel pump market can be categorized into:
Global Barrel Pump Market, by Industry
On the basis of industry, the global barrel pump market can be categorized into:
- Petroleum Industry
- Chemical Industry
- Pharmaceutical Industry
- Food & Beverages
- Oil and Gas
- Manufacturing Plants
Global Barrel Pump Market, by Region
Based on region, the global barrel pump market can be categorized into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.