Sarasota, FL -- (SBWIRE) -- 11/01/2017 -- According to the report, global industrial agitators market was valued at around USD 2.20 billion in 2015 and is expected to reach approximately USD 3.01 Billion in 2021, growing at a CAGR of slightly above 5.4% between 2016 and 2021.
Industrial agitators are used for various mixing applications in manufacturing industries including petrochemical, chemical, oil and gas, pharmaceutical, and food and beverages. Industrial agitators help to get a desired level of uniformity while mixing two or more materials in different proportions and viscosities. Water and wastewater treatment industries also use industrial agitators to clean water in order to remove various pollutants such as sulfur in the water.
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Global industrial agitators market is mainly driven by the increasing application in small and medium sized business owing to the advancement in the technology and operating cost of the industrial agitators. The high processing speed and lower power requirement of the modern industrial mixer have reduced the overall manufacturing cost of industries.
On the basis of product type, the report segments the global industrial agitator market into side entry, top entry, portable, bottom entry, and static. The demand for top entry product was the highest in 2015. Top segment is expected to dominate the industrial agitator market over the forecast period due to the increased application of top entry industrial agitators across industries such as water and wastewater treatment, petrochemical, and oil and gas. By application, the market is segmented as chemical, oil, gas and petrochemical, water and wastewater treatment, food and beverages, and pharmaceuticals. Chemical is one of the dominating application segments in the global market. This growth can be contributed due to the increasing demand for customized agitators in this sector. The sector has high requirements for suspension, mixing, and dispersion of raw materials. Hence, there is high demand for implementation of these devices. Water and wastewater segment is also anticipated to record rapid growth over the forecast period.
Water and wastewater application is expected to exhibit healthy growth due to increased demand for wastewater treatment solutions. This segment has huge requirements for agitators that have high durability, reliability, and efficient performance. Agitator equipment is used for pre-treatment of municipal and industrial water filtration. The crisis of water shortage in many regions is enforcing the increased requirement of water treatment solution equipment, which will boost the demand for agitators over the forecast period.
North America is anticipated to be a significant region for the industrial agitators, due to the high product penetration and increasing the need for technologically advanced products. Asia Pacific is expected 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 expected to boost the regional manufacturing sector, thereby, augmenting the demand for industrial agitators.
The key players of industrial agitators market include ylem Inc., SPX Corporation, Sulzer Ltd, EKATO Group, and Philadelphia Mixing Product types, Ltd. Other prominent players include Tacmina Corporation, Chemineer Inc., Mixer Systems Inc., JBW Systems Inc., and Silverson Machines Inc., among others.
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