Future Market Insights (FMI) has recently published a report titled ‘Industrial Agitators Market – Global Industry Analysis 2013-2018 and Opportunity Assessment 2019-2027.’ Industrial agitators are simple instruments used for the mixing of two types of liquids together. However, with time, industrial agitators are being used in more applications and for performing different functions such as keeping the homogeneous liquid bulk during storage, increasing the heat transfer and promoting the reaction between chemicals. Industrial agitators work on the basic principle where the rotation of the impeller is used for the blending of the liquids.
The global industrial agitators market is expected to grow at a CAGR of 7.8% during the forecast period. The industrial agitators market was valued at US$ 2293.4 Mn in 2018, and is projected to grow significantly to reach US$ 4487.6 Mn by 2027 due to the flexibility provided by industrial agitators to work in multiple industries and the increasing number of small and medium manufacturers across the world, which receive funding from venture capitalists as well as help from the governments of their countries of operation.
In this report, FMI has segmented the global industrial agitators market by type, by model, by end user and by region. By type, the industrial agitators market is sub-segmented into top entry industrial agitators, side-entry industrial agitators and bottom-entry industrial agitators. The top-entry industrial agitators sub-segment of the global industrial agitators market is projected to register a 69.0% market share at the end of 2018. In addition, in terms of volume, the top-entry industrial agitators sub-segment is also expected to register a CAGR of 7.8% during the forecast period.
Based on model, the industrial agitators market is sub-segmented into large-tank agitators, drum agitators, portable agitators and tote agitators. Due to the increasing demand from the paints & coatings industry as well as the inks & pigments industry, the tote industrial agitators sub-segment is expected to register a CAGR of 8.7% during the forecast period. In the recent years, industrial agitators have been gaining traction in the developing countries as there is an increase in the number of chemical industries where the industrial agitators find applications. It has been observed that an increase in the number of laboratories and research institutions is also driving the industrial agitators market due to an increase in the number of industrial agitators at research laboratories of the food, pulp & paper and similar other industries in the recent times. Due to these factors, the tote industrial agitators sub-segment is projected to create potential growth opportunities for the manufacturers of industrial agitators.
Based on end user, the global industrial agitators market is segmented into chemical, pharmaceutical, food & beverages, paper & pulp, waste & wastewater treatment, and oil, gas & petrochemical. In terms of value, the chemicals sub-segment is projected to register a CAGR of 8.8% during the forecast period, and, in terms of volume, the paper and pulp sub-segment is expected to register a CAGR of 8.5% during the forecast period. In addition, advancements in technology have resulted in an increase in the demand for application-specific customised industrial agitators, which is among the key factors expected to boost the market during the forecast period. Owing to these factors, the chemicals sub-segment of the global industrial agitators market is projected to register a 22.3% market share at the end of 2018.
In addition, the report covers the trends that drive all the segments and offers insights & analysis about the growth potential of the industrial agitators market in various regions, which include Europe (Germany, Italy, France, Spain, U.K. & the rest of Europe), Latin America (Brazil, Mexico & the rest of Latin America), APEJ (China, India, Malaysia, Australia, Singapore & the rest of APEJ), North America (U.S. & Canada), MEA (GCC Countries, Israel, South Africa & the rest of MEA) and Japan. The revenue contribution of APEJ is estimated to increase at a CAGR of 8.4% over the forecast period due to consistent innovations as well as an increase in the number of research activities at laboratories, which is fuelling the adoption of industrial agitators in this region.
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According to FMI analysis, strategies such as product innovations, improvements in durability and others are estimated to boost the revenue, due to which the vendors of industrial agitators are likely to be able to reach new growth markets. Xylem Inc. is one of the prominent vendors in the industrial agitators market. The company offers industrial agitators for different end-users such as chemicals, pulp and papers etc. As per FMI analysis, Xylem Inc. plans to upgrade its existing products to enhance its customer base by providing an improved user experience. Some of the key players featured in the global industrial agitators market report include Xylem Inc., Silverson Machines Ltd., Dynamix Agitators Inc., EKATO HOLDING GmbH, Philadelphia Mixing Solutions, Ltd., Tacmina Corporation, SPX FLOW, Inc., Sulzer Ltd, Statiflo International Ltd., MIXEL Agitators, Mixer Direct Inc., Alfa Laval AB.