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 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.Based on mounting type, the industrial agitator 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.Based on mixing type, the market is sub-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. In terms of end-use industry, the industrial agitator 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, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
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. 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 overall industrial agitator market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the industrial agitator market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the industrial agitator market.
A few major players operating in the global industrial agitator market are Alfa Laval; Dynamix Agitators Inc.; EKATO HOLDING GmbH; Mixer Direct; Silverson; SPX FLOW, Inc.; Statiflo Group; Sulzer Ltd; TACMINA CORPORATION; and Xylem Inc.
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The growing demand for customized agitators is set to drive the Industrial Agitator Market. The global industrial agitator market size is projected to grow from USD 2.2 billion in 2020 to USD 2.7 billion by 2025; it is expected to grow at a CAGR of 4.1% during the forecast period. The growing demand for customized agitators and the increasing...
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