Report : Industrial Agitator Market to 2027 - Global Analysis and Forecasts by Type (Large Tank Agitators, Portable Agitators, and Drum Agitators); Mounting Type (Top-Mounted, Bottom-Mounted, and Side-Mounted); Mixing Type (Solid-Solid Mixture, Solid-Liquid Mixture, Liquid-Liquid Mixture, and Liquid-Gas Mixture); End-Use Industry (General Industry, Chemicals, Mining, Oil & Gas, F&B, and Cosmetics)
According to the new research report published by The Insight Partners, titled “Industrial Agitator Market - Global Analysis and Forecast to 2027”, the global industrial agitator market is expected to reach US$ 4.65 Bn in 2027, registering a CAGR of 7.8% during the forecast period 2019-2027.
Manufacturers from several industries are now a days highly focused on achieving new growth mark. Chemical industry is major revenue contributor to this market with large number of mixing applications across the production and operation. The chemical industry has been an integral part of the global economic landscape for many centuries. Further, statistics says these chemical companies in 2017, spent around US$ 3.0 trillion to buy goods and services used in the manufacture of their products. Out of this, around two-thirds of this amount was spent by companies operating in the APAC region. Mining, oil & gas and mineral processing are other major industries contributing significant revenue to this market.
Moreover, in accordance with fast changing technological scenario and growing number of SMEs, the demand for innovative/custom industrial agitators is anticipated to grow in the coming years. In addition to the developing companies, the revenue growth rate of middle market companies in developed countries such as the U.S., Canada, Germany and the UK has been surging at a consistent pace and it is expected to outperform various economic segments in these countries. The huge number of SMEs worldwide and impressive future growth rate present massive opportunities for low cost portable and modular industrial agitators especially in food & beverages, cosmetics, and chemicals industries.
The industrial agitator market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East & Africa, and South America. The APAC region is anticipated to be the fastest-growing region in the coming years. In comparison to other regions of the world, the economic outlook of APAC is quite dynamic. The economic growth in developing countries of APAC is quite impressive and these countries, which makes APAC as one of the most promising market for the growth of industrial agitator market.
Whereas, North America holds the highest market share in the industrial agitator market. North America led the global industrial agitator market with more than 35% market share, followed by Europe and Asia Pacific. The presence of well developed countries such as the US and Canada and high focus on industrial development are two of the major factors responsible for the growth of industrial agitator market in this region. The rise in the food processing industry across the entire North American region demands for installations of large agitation systems at the manufacturing as well as distribution plants. The oil & gas industry for the downstream processing of natural gas has been an important adopter of industrial agitators in the country. With regards to the strategic initiatives taken by the companies operating in the industrial agitator market, mergers & acquisitions of smaller and larger companies of the ecosystem has been widely observed.
The industrial agitator market by material type is segmented into Top-mounted, bottom-mounted, and side-mounted. The Top-mounted type holds a significant share in the market and is expected to continue its dominance in the forecast period as well. The top-mounted agitators are used for mixing and agitating various materials in demanding industrial applications. These agitators offer homogenous mixing with high reliability, high efficiency, low environmental stress, and low operational costs. Industries which use top-mounted agitators include food & beverages, biotechnology, pharmaceutical, pulp and paper, coating and finishing, water and effluent treatment, chemicals, and cosmetic applications among others. Top-mounted is gaining high momentum within the industrial agitator market.
The major players operating in the market for industrial agitator market are Xylem Inc., SPX Flow, Inc., Sulzer Ltd, Philadelphia Mixing Solutions, Ltd., Dynamix Agitators Inc., Tacmina Corporation, Statiflo Group, Ekato Group, Silverson Machines, Inc., and Alfa Laval among others.
Industrial Agitator Market - Geographic Breakdown, 2018