Industrial Agitator Market is estimated to grow at a CAGR of 4.0 % during 2021–2028

Posted by Prabha Mahajan on October 7th, 2022

According to our latest market study on “Industrial Agitators Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Power Rating, Mounting Type, Mixing Type, and End-Use Industry,” the market is expected to grow from US$ 1,931.8 million in 2021 to reach US$ 2,638.6 million by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028.

Small and medium enterprises play an integral part in the growth of any country’s economy. In these emerging economies such as China and India, the SMEs contributes more than 60% and around 40% to the GDP, according to Statista data 2021 and SME Chamber of India data. With fast changing technology scenario and growing number of small and medium manufacturers, the demand for innovative industrial agitator market is growing continuously. In addition to the developing companies, the revenue growth rate of middle market companies in developed countries such as the US, Canada, Germany, and the UK has been surging at a consistent pace and it is expected to outperform various economic segments in these countries.

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Key Findings of Study:

The industrial agitators market is segmented based on power rating, mounting type, mixing type, and end-use industry, and geography. Based on power rating, the market is segmented into less than 50 HP, 51 HP - 85 HP, 86 HP - 130 HP, and 131 and above. The less than 50 HP segment represented the largest share of the overall market in 2020. In terms of mounting type, the market is segmented into top-mounted, bottom-mounted, and side-mounted. In 2020, the top-mounted segment accounted for the substantial share of the market. Similarly, based on mixing type, the market is segmented into solid–solid mixture, solid–liquid mixture, liquid–liquid mixture, and liquid–gas mixture. The liquid–liquid mixture segment represented the largest share of the overall market in 2020. Further, in terms of end-use industry, the market is segmented into food and beverages, paint and coatings, chemical, mineral, pharmaceutical, cosmetics, and others. In 2020, the paint and coatings segment accounted for the substantial share of the market. Geographically, North America held the largest share of the industrial agitators market in 2020, followed by Europe and APAC. Further, the market in APAC is projected to witness the highest growth rate during the forecast period.

Industrial agitator market operates in a highly-competitive marketplace. As leading companies in this market continues to broaden its addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications and markets, all the prominent players faces an increasing level of competition, both from regional as well the leading global technology and industrial companies in the world. Market is consolidated at global level with major six to seven players comprising one-third of the market share, whereas at the regional level it is highly fragmented with several local players serving the SMEs.

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