The industrial agitator is a mechanical device that is widely used in the process industries such as chemical, cosmetics, and pharmaceutical industries. Market Research Future (MRFR) has published and released a research report about the global industrial agitator market that envisions an increase in this market with 7% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. In terms of cash, this market is expected to be worth US $ 3 bn.
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The factors that are key drivers of the global industrial agitator market include surging adoption of industrial agitators in manufacturing & processing industries, surging promotion by environmental agencies to implement the agitators, and reduction of the environmental wastes. The agitators are crucial for chemical industries which are required for the mixing of gases in equal proportion. However, some factors that can harm the market growth during the forecast period include high installation cost and constant need for maintenance & repairs of the mechanical device.
The global industrial agitator market has been segmented on the basis of application, component, form, model, type, and lastly, region. Based on application, this market has been segmented into chemical, food & beverages, mining, paint & coatings, pharmaceutical, and others. The component-based segmentation segments the market into the anchor, heads, impellers, sealing systems, paddle, propeller, turbine, and others. Regarding form, the market has been segmented into the liquid-gas mixture, liquid-liquid mixture, solid-liquid mixture, and solid-solid mixture. On the basis of the model, the market has been segmented into drum mixers, large tank mixers, portable mixers, and others. By type, the market has been segmented into the bottom entry, portable, side entry, and top entry.
The regional segmentation of the Global Industrial Agitator Market segments the market into continent-based regional markets namely North America, Asia Pacific, Europe, and rest of the world (RoW). North America holds the lion's share in the global market due to advanced technological infrastructure, because of which, it is possible for local manufacturers to innovate and design the agitators according to various industrial verticals. The most important country-specific markets in this region are the United States of America (USA), Canada and Mexico.
During the forecast period, Asia Pacific has been expected to emerge as the fastest growing market. The maximum revenue in this market can be generated by China, India, and Japan, followed by the rest of Asia Pacific. During the forecast period, Europe has been expected to witness a substantial market. The significant country-specific markets in this region are France, Germany, and the United Kingdom (UK).
RoW segment covers Latin America and Middle East & Africa (MEA) region. In Latin America, the market may not be as big as North America, but it is stable. The stable economies in this region that have the potential to emerge as lucrative markets are Argentina and Brazil. In the MEA region, the market is small and limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability.
Key Players
The key players in the global industrial agitator market include Dynamix Agitators Inc. (Canada), Ekato Holdings GmbH (Germany), Fluid Kotthoff GmbH (Germany), KSB (USA), Mixer Direct Inc. (USA), Philadelphia Mixing Solutions Ltd. (USA), Silverson Machines Inc. (UK), SPX Flow Inc. (USA), Statiflo International Ltd. (UK), Sulzer Ltd. (Switzerland), Tacmina Corporation (Japan), and Xylem, Inc. (USA).
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