The global industrial agitators market size was USD 2.05 billion in 2015. Increasing agitator applications in small and medium-sized business (SMBs) is augmenting the demand for these devices.
Moreover, increasing support from the government in the form of subsidies is leading to the expansion of SMBs, thereby fueling the demand. The low power requirements and high mixing speed have reduced the overall manufacturing cost of these devices. Key features such as impact resistance, durability and energy efficiency are expected to fuel the demand for these devices in various applications.
Global industrial agitators market by product, 2015 - 2024 (USD Million)
They are designed specifically to meet the large capacity requirements for a range of applications used in the manufacturing industries. The increasing complexity of design and extensive diversification of industrial agitators has led to its careful selection in the industrial sector. Proper design specifications, desired capacity level, and high precision enable efficient mixing in the chemical and food & beverage industry. The industry offers considerable growth opportunities as key manufacturers are focusing on providing product differentiation.
Technological advancements in agitators, such as faster mixing, automated customized benefits, device flexibility and robust structure are propelling the need for upgrading the existing devices for attaining an efficient mixing process. However, the high maintenance and constant support requirements are expected to pose a challenge to growth.
Top entry agitator is anticipated to be the fastest growing segment and accounted for over 40% revenue share in 2015.These agitators are commonly used in the liquid processing industry owing to the less power requirements and longer durability as compared with other products.
Side entry agitators are expected to reach over 24% share by 2024 growing at a CAGR of over 6.0% from 2016 to 2024. Increasing demand for these products owing to low maintenance and service requirements is expected to fuel product demand.
Moreover, these devices are designed and equipped to handle large volume applications with high-efficiency. Owing to such characteristics, they are widely used in water treatment, chemicals, crude oil and paper industries.
The chemical segment is estimated to dominate the industrial agitator market reaching over USD 1.1 billion by 2024. This growth can be attributed to the rising demand for customized agitators in this sector. The sector has high requirements for suspension, reaction, mixing and dispersion of raw materials. Hence, there is growing demand for implementation of these devices.
Water and wastewater application is anticipated to witness a healthy growth owing to the increased demand for wastewater treatment solutions. This sector has huge requirements for agitators that have high reliability, durability, and efficient performance. Agitators are used with equipment required for pre-treatment of municipal and industrial water filtration. The crisis of water shortage in many regions has given rise to the increased requirement of water treatment solution equipment, thereby boosting the demand over the forecast period.
North America is expected to be a significant region for the industrial agitators, owing to the high product penetration and increasing the need for technologically advanced products. The region accounted for over 30% revenue share in 2015 and is estimated to reach over USD 1billion by 2024. Additionally, rising demand for efficient, reliable and customized agitators from process industries is contributing to the regional growth.
Asia Pacific is projected 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 projected to boost the regional manufacturing sector, thereby, augmenting the demand for industrial agitators.
The industrial agitator market is gaining importance owing to the emergence of the manufacturing sector. Rapid growth in the food and beverage sector in Brazil and the growing oil & gas industry is propelling the demand.
The global industrial agitators market share is mainly occupied by key competitors such as Sulzer Ltd, Xylem Inc., SPX Corporation, EKATO Group, and Philadelphia Mixing Solutions, Ltd. Other prominent players include Tacmina Corporation, Chemineer Inc., JBW Systems Inc., Mixer Systems Inc., Silverson Machines Inc., and others. These players are involved in research and development activities to develop products compliant with the regulatory standards mandated by the government authorities.
Intense competition is enabling market participants to develop innovative products that are efficient and provides faster cycle times for mixing and agitation processes. Industry players are striving to include agitator in mixing and blending applications to simplify their integration in various systems. Strategic investments and partnerships are anticipated to be the most efficient way to gain fast access to the emerging markets.
b. The global industrial agitators market size was estimated at USD 2.4 billion in 2019 and is expected to reach USD 2.6 billion in 2020
b. The global industrial agitators market is expected to grow at a compound annual growth rate of 6.3% from 2016 to 2024 to reach USD 3.46 billion by 2024.
b. North America dominated the industrial agitators market with a share of 30.9% in 2019. This is attributable to the high product penetration and increasing the need for technologically advanced products.
b. Some key players operating in the industrial agitators market include Sulzer Ltd, Xylem Inc., SPX Corporation, EKATO Group, and Philadelphia Mixing Solutions, Ltd.
b. Key factors that are driving the market growth include increasing support from the government in the form of subsidies is leading to the expansion of SMBs.
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