Worldwide Industrial Agitator Industry to 2028 - Wide Range of Applications in Multiple Industries Presents Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Industrial Agitator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Power Rating (Less than 50 HP, 51 HP-85 HP, 86 HP-130 HP, and 131 and Above), Mounting Type, Mixing Type, and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The industrial agitator market is expected to grow from US$ 1,931.76 million in 2021 to US$ 2,638.61 million by 2028; it is estimated to grow at a CAGR of 4.0% during 2021-2028.
The industrial agitator market is widely used in food and beverages, paint, and coatings, chemical, mineral, pharmaceutical, cosmetics, paper & pulp, water & wastewater, power plants, and petrochemicals. The purpose of agitators is for mixing liquids, solids, slurries, pastes, mixing liquids & gases, and mixing solids & gases. The paint and coatings industry are used in building and construction industry, where they are used to protect the structures from external damage.
Further, based on observation, around 55% of the coatings produced globally are used to decorate and protect new construction and to maintain existing structures, such as residential homes & apartments, public buildings, and factories. Other than building and construction industry, the use for industrial agitator in paint and coatings industry is also for automotive & transportation and wood industries. In chemical industry, the agitators are required in various stages for production of polymers, fertilizers & pesticides, chemical intermediates, lubricants, chemical coatings, adhesives, and sealants.
Similarly, in mineral industry, the demand for efficient mixing and stirring systems in the mineral processing industry is growing at an impressive rate. Hence, for meeting the mixing requirements of this industry, agitator manufacturers are supplying the custom and high-quality industrial agitator market. Some of the major applications of agitators in this industry include solvent extraction, pressure hydrometallurgical processes, crystallizers, and atmospheric leach applications, among others. Therefore, with wide range applications, the opportunities for industrial agitator manufacturers are also growing.
The COVID-19 outbreak had led to the imposition of lockdown measures in North America region, especially in the US and Canada. The crisis adversely affected various sectors, such as cosmetics, painting, and coating business. The US recorded an unmatched rise in the number of COVID-19 cases, which disrupted production of paints, cosmetics and coatings and consequently impacted the demand for industrial agitator market used in these industries during the early months of 2020.
Workplaces were allowed to work with limited capacity and work from home facility was given to employees wherever it was possible. People didn't have to go anywhere as earlier they had to attend meetings, give presentations, and travel different cities for business tours. Since the physical movement to various places was restricted, this impacted the demand for cosmetics products to a great extent. Also, gathering of people for non-essential work was discouraged. This resulted in less demand for renovation activities.
The residential real estate sector in the US was shaken by this pandemic and home showings per listing were down by more than 40%. Owing to these factors, demand for paints and coatings decreased substantially, which consequently affected the demand for industrial agitator market required to produce paints and cosmetics. Moreover, as economies open further and trade restriction get relaxed, the industrial agitator market is estimated to witness a positive growth in North America region.
The industrial agitator market is segmented based on power rating, mounting type, mixing type, end-use industry, and geography. Based on power rating, the market is sub-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.
Reasons to buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global industrial agitator market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global industrial agitator market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Increasing Need for Efficient Wastewater Treatment
- Surge in Number of SMEs
- High Maintenance and Installation Cost of Industrial Agitators
- Wide Range of Application in Multiple Industries
- Technological Advancements in Industrial Agitators
- Dynamix Agitators Inc.
- EKATO HOLDING GmbH
- Alfa Laval
- SPX FLOW, Inc.
- Sulzer Ltd
- Xylem Inc.
- Statiflo Group
- Tacmina Corporation
- Mixer Direct
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