Global Industrial Agitators Market
Posted by chetana on July 13th, 2021
Global Industrial Agitators Market size was valued nearly at US$ 1.93 Bn. in 2019 and is expected to grow at a CAGR of 4.52% over 2020-2026, to account for US$ XX Bn. in 2026.
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The industrial agitator is a type of equipment used to process various products in the chemical, pharmaceutical, personal care & cosmetic, and food industry. Industrial agitators are also used to enhance color, texture and other necessary characteristics of the materials.
The global industrial agitators market is majorly driven by the growing demand for customized agitators. The global market for Industrial agitator operates in a highly competitive marketplace. A significant reduction in cost and time can be achieved in the manufacture with the use of proper agitators.
Positive economic growth outlook with growing industrialization globally and rising need for effective agitation systems from industries are fuelling its adoption across the industries. Moreover, an increasing number of SMEs is expected to drive the future demand for portable agitators and create new opportunities for the global market during 2020-2026. However, a high maintenance and installation cost is a major factor restraining the growth of global industrial agitators market.
The majority of the industries have been poorly impacted by the COVID-19 crises, causing slow production because of the low demands among the consumers. Such as automotive sales are projected to decline by 10% to 20% in major markets such as the Asia Pacific mostly in China, the US and Europe. Supply chain disruptions, a drop in disposable income, and a rise in the unemployment rate are prominent to slow automobile demand globally. This will slow down vehicle production, which will adversely impact the demand for coatings and paints in the automotive industry.
The MMR report covers all segments in the global industrial agitators market such as mounting, component, model, form, and industry. Based on mounting, the top-mounted agitators' segment is expected to grow at the largest CAGR of 5.23% during the forecast period thanks to the growing demand for top-mounted agitators in the chemical, cosmetics industry and food& beverage.
By industry, the chemical segment is estimated to account for XX% of the total market share in 2019 and is expected to grow at a CAGR of 4.89% during 2020-2026. This growth is driven by the growing demand for customized agitators in the chemical industry. The industry has high requirements for reaction, suspension, dispersion and mixing of raw materials.
Asia-Pacific is the global leader in the industrial agitators market. In 2019, it accounted for around 42% of the market share. This growth is attributed to growing industrialization in developing countries such as India and China. High demand from the end-users has driven the total oil & gas industry towards growth and has caused more oil & gas projects.
Across the APAC, China is expected to lead the Asian market, generating revenue worth US$ XX Mn. by 2026. However, Europe accounted for the second-largest market XX% share in 2019 and expected to register a CAGR of XX% during the forecast period. This growth is attributed to the paper& pulp industry which accounts for huge volumes of wastewater.
The MMR reports cover key developments in the global industrial agitators market as organic and inorganic growth strategies. Many companies are focusing on organic growth strategies like product launches, product approvals. For example, In Dec 2019, Sulzer Ltd. launched the SALOMIX agitator family that is intended to operate in demanding uses in many industries.
Inorganic growth strategies activities witnessed in the global industrial agitators market were M&A, partnership, collaborations and joint venture. Such as, SPX Flow signed a joint venture with the WTE Wajdi (Iraq) Group in July 2017, dedicated to the service of all static and rotating equipment for industrial, power customers and oil & gas in Iraq.
The objective of the report is to present a comprehensive analysis of the Global Industrial Agitators Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Industrial Agitators Market dynamics, structure by analyzing the market segments and projects the Global Industrial Agitators Market size. Clear representation of competitive analysis of key players by End Use, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Industrial Agitators Market the report investor’s guide.
• Global Industrial Agitators Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Industrial Agitators Market
• Global Industrial Agitators Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Industrial Agitators Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Industrial Agitators Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Industrial Agitators Market are also profiled.
Global Industrial Agitators Market2
• Asia Pacific
• Silverson Machines
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About the Authorchetana
Joined: February 27th, 2020
Articles Posted: 152
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