There are numerous fluids, which are used in various industries for proper functioning of different machineries. The transfer of these fluids is an important task. During the transfer of fluid, the wastage of fluid must be avoided. Therefore, many companies use barrel pump for transfer of fluid. The barrel pump allows the transfer of fluid without any wastage and it is very easy to operate. Various types of barrel pumps are available in the market such as electric barrel pump and hydraulic barrel pump.

Market scope and structure:

COVID-19 scenario analysis:

• The demand for barrel pump is expected to decrease in 2020 due to low demand from different industries, such as manufacturing and chemical,owing to the lockdown imposed by governments of many countries.
• COVID-19 pandemic has shut-down the production of various products in the barrel pump industry, owing to the prolonged lockdown in major global countries. This has hampered the growth of the barrel pumpmarket significantly from last few months, and is likely to continue in 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is estimated to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which have beenbadly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:Market scenario analysis, trends, drivers, and impact analysis

Barrel pump is widely used across various industries such as petrochemical, oil & gas, and pharmaceutical.Barrel pump is the safe &easiest way of transferring or dispensing of any fluid from different types of containers such as drums or barrels. These pumps are also referred as drum pumps. Different types of barrel pump or drum pump are available in the market to satisfy the requirement of several industries. Some companies use manually-operated barrel pumps that consist of plungers, levers, and handles for dispensing the fluid.

Barrel pumps or drum pumps include three sections such as the pump section, immersion tube section, and a motor section. The motor of the barrel pump is fitted on the top side of an immersion tube. The size of an immersion tube is the same as the depth of the container. According to the depth of the container, different sizes of an immersion tubes are available in the market. Barrel pump or drum pump consists of different components, which come in contact with the fluid. Therefore, it is necessary that the parts, which come in contact with the fluid, should be made up of corrosion-resistant materials. In addition, the material should also be fire resistant so that if the fluid is flammable, the danger of fire hazard is eliminated. Therefore, different parts of the barrel pump are made up of materials, such as polypropylene, 316 stainless steel, or polyvinylidene fluoride, that adhere to the required standards.

The number of industries in different countries across the globe is increasing rapidly. Oil & lubricant is a significant requirement in every industry. Therefore, to transfer oil & lubricant, barrel pumps are required. Hence, this could be the key driving factor for the growth of the barrel pump market. Further, as barrel pump has applications in various industries, its demand is expected to rise during the forecast period.

New product launch to drivethe market

Many companies in the barrel pump market are developing and introducing new products, which are technologically more advanced than their previous range. These new products are more efficient and effective in their performance and are widely used in the industry. For example, in February 2018, Lubemate, one of the key players in the pump market, launched the barrel pump 20L premium oil pump. It comes with an ergonomic design and D-shaped handle to deliver the fluid. Non-drip nozzle is also used in this pump to prevent contamination of the fluid. This pump is widely used in companies when less amount of fluid has to be transferred.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the barrel pump market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the barrel pump market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the barrel pump market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.