Global Industrial Agitators market, which accrued proceeds worth 3.96 (USD Billion) in 2019, is set to record the CAGR of nearly 6.96% over the period from 2020 to 2026
The global Industrial Agitators market, which accrued proceeds worth 3.96 (USD Billion) in 2019, is set to record the CAGR of nearly 6.96% over the period from 2020 to 2026. The report offers assessment and analysis of the Industrial Agitators market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Industrial agitators are the devices that are utilized for processing products in food, pharmaceutical, personal care, chemical, and cosmetic industries. These equipment are utilized for mixing liquids, increase the transfer of heat, preserve & store homogenous fluids, and increase the reaction rate between the chemicals. Apparently, industrial agitators are utilized for carrying out various operations like maintaining of bulk of homogeneous liquids at the time of storage.
Market Growth Dynamics
Escalating demand for mixing substances of various densities with reduced power usage, rapidly emerging production activities, thriving process sectors, and surge in demand for personalized industrial agitators will propel the market growth in the near future. Apart from this, increase in the complicatedness of goods processing has resulted in huge demand for industrial agitators in the recent times.
Furthermore, technological innovations in agitators like rise in the flexibility and device structure will create huge growth avenues for industrial agitators industry over the estimated timespan. In addition to this, beneficial features like toughness, impact resistance, and power proficiency are projected to impel the product demand in plethora of industries over the forecasting years. Growing focus on product differentiation will offer new growth dimensions to industrial agitators market over the ensuing years. Need for specific designing, desired level of capacity, and high precision for facilitating effective mixing in food & beverages & chemical & petrochemical industries will transform into lucrative product demand in the years ahead.
North America To Contribute Majorly Towards Global Market Share During 2020-2026
The surge in the penetration of industrial agitators in North America and rise in the demand for technically innovative products will steer the market growth in the sub-continent over the estimated timespan. Apart from this, surging need for proficient and personalized industrial agitators in process industries in North America will embellish the market trends in the region over the forecast timespan.
Key players influencing the market growth include Mixer Direct, Inc., Silverson Machines Inc., Statiflo International Ltd., SPX Flow, Inc., Dynamix Agitators Inc., Xylem, Inc., Philadelphia Mixing Solutions Ltd., Sulzer Ltd., Tacmina Corporation, and Ekato Holdings GmbH.
The global industrial agitators market is segmented as follows:
By Mixing Method
This report is based on in-depth qualitative and quantitative analyses of the global Industrial Agitators market. Zion Research has collected and analyzed key data belong to the global Industrial Agitators market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Industrial Agitators across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Industrial Agitators industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Industrial Agitators market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Industrial agitators are used for various mixing applications in manufacturing industries including petrochemical, chemical, oil and gas, pharmaceutical, and food and beverages. Industrial agitators help to get a desired level of uniformity while mixing two or more materials in different proportions and viscosities. Water and wastewater treatment industries also use industrial agitators to clean water in order to remove various pollutants such as sulfur in the water.
Global industrial agitators market is mainly driven by the increasing application in small and medium sized business owing to the advancement in the technology and operating cost of the industrial agitators. The high processing speed and lower power requirement of the modern industrial mixer have reduced the overall manufacturing cost of industries.
On the basis of product type, the report segments the global industrial agitator market into side entry, top entry, portable, bottom entry, and static. The demand for top entry product was the highest in 2015. Top segment is expected to dominate the industrial agitator market over the forecast period due to the increased application of top entry industrial agitators across industries such as water and wastewater treatment, petrochemical, and oil and gas. By application, the market is segmented as chemical, oil, gas and petrochemical, water and wastewater treatment, food and beverages, and pharmaceuticals. Chemical is one of the dominating application segments in the global market. This growth can be contributed due to the increasing demand for customized agitators in this sector. The sector has high requirements for suspension, mixing, and dispersion of raw materials. Hence, there is high demand for implementation of these devices. Water and wastewater segment is also anticipated to record rapid growth over the forecast period.
Water and wastewater application is expected to exhibit healthy growth due to increased demand for wastewater treatment solutions. This segment has huge requirements for agitators that have high durability, reliability, and efficient performance. Agitator equipment is used for pre-treatment of municipal and industrial water filtration. The crisis of water shortage in many regions is enforcing the increased requirement of water treatment solution equipment, which will boost the demand for agitators over the forecast period.
North America is anticipated to be a significant region for the industrial agitators, due to the high product penetration and increasing the need for technologically advanced products. Asia Pacific is expected to be the fastest-growing region owing to the presence of robust economies such as China, India, and Japan. The shift from conventional utilization capacity to focus on the capability to perform efficient and timely order fulfillment is expected to boost the regional manufacturing sector, thereby, augmenting the demand for industrial agitators.
The key players of industrial agitators market include ylem Inc., SPX Corporation, Sulzer Ltd, EKATO Group, and Philadelphia Mixing Product types, Ltd. Other prominent players include Tacmina Corporation, Chemineer Inc., Mixer Systems Inc., JBW Systems Inc., and Silverson Machines Inc., among others.
Escalating demand for mixing substances of various densities with reduced power usage, rapidly emerging production activities, thriving process sectors, and surge in demand for personalized industrial agitators will propel the market growth over 2020-2026.
The CAGR of the industry is expected to be nearly 6.96% during the forecast timeline.
North America will contribute remarkably towards the global market share over the estimated timeline.
The key market players include SPX Flow, Inc., Xylem, Inc., Philadelphia Mixing Solutions Ltd., Sulzer Ltd., Mixer Direct, Inc., Dynamix Agitators Inc., Statiflo International Ltd., Tacmina Corporation, Silverson Machines Inc., and Ekato Holdings GmbH.