Market Analysis
The global industrial agitator market will touch USD 3 billion at a 7% CAGR by 2023, states the latest Market Research Future (MRFR) report.
Industrial agitator is a mechanical device that is used to process products across various industry verticals such as pharmaceutical, chemical, food and cosmetic industries. Applications such as mixing liquids, chemical substance reaction activities, liquid storage and others. Various type of agitators such as anchors, turbine, propeller, gas induction, and others, are available in the market.. The mixture can be easily transformed to the desired product by dilution, dissolution, suspension, or emulsification process. The global industrial agitators market is projected to be an emerging trends in the pharmaceutical, biotechnology, hydrometallurgy, food, chemical, mineral and cosmetic industries, among many others.
The factors drives development of global industrial agitators market, increase in production capacity of industrial vertical such as pharmaceuticals, chemical, and cosmetics, drives the market of industrial agitator. The manufacturers also provides advanced high-speed agitators solution to get the desired mixture in different tanks such as stainless steel, plastic tanks and FRP. However, high maintenance cost restraints the industrial agitators market. Further, the stringent government regulations related to safety norms and product compliance standards act as challenge for the industrial agitators market growth. Chemical industry has the largest share of the global agitator market. The edified penetration and enhanced need of technological products North America is expected to influence the global market significantly in the projected period.
Covid-19 Impact on the Industrial Agitator 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.
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Drivers
The increasing requirement of optimizing mixing processes is pushing agitator providers to develop mixers that help achieve low power consumption, flow maximization, rapid mixing, and other advancements. For instance, Philadelphia Solutions (US) provides agitators for water treatment that concentrate on maximizing flow while minimizing energy input to optimize the mixing process.
Escalating Need for Mixing Substances of Different Densities to Boost Market Growth
The escalating need to mix substances of different densities with reduced power usage will boost market growth over the forecast period.
Opportunities
Industrial agitators are already being used extensively across a wide range of application areas. In the near future, these agitators are expected to be highly adapted for the water and wastewater treatment and pulp and paper production. Industrial agitators are used for water and wastewater treatment applications, including the processing of drinking water, which majorly involves the use of such equipment in raw water intake, in wastewater treatment plants, and for treating wastewater with large solids. In the field of pulp and paper production, industrial agitators would be highly adopted for all kinds of stock-agitating processes. Many key market players provide a range of products and solutions catering to multiple application areas such as adhesives and sealants, biofuels and biorefineries, and flue gas desulfurization
Increasing Adoption in Pharmaceutical Sector to offer Robust Opportunities
The increasing adoption of industrial agitators in pharmaceutical and food & beverage sector will offer robust opportunities for the market over the forecast period.
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Restraints
High Installation Cost to act as Market Restraint
The high installation cost of industrial agitators may act as market restraint over the forecast period.
Challenges
Constant Need for Repairs and Maintenance to act as Market Challenge
The constant need for repairs and maintenance of the mechanical device may act as market challenge over the forecast period. Besides, product compliance standards and strict government safety norms may also impede market growth.
COVID-19 Analysis
Due to the different containment measures like travel restrictions, business shutdown, and lockdowns, the supply chain and production of the industrial agitator market was negatively impacted resulting in decline in production. The oil industry which is a major user of industrial agitators has been highly impacted during 2020. A huge drop in crude oil prices has hit both the producers of natural gas and oil thus they are likely to reduce their CAPEX on production and exploration activities. This has impacted the industrial agitator market growth.
Market Segmentation
The global industrial agitator market has been bifurcated based on type, form, and application.
By type, the portable segment will lead the market over the forecast period.
By form, the global industrial agitator market is segmented into solid-solid mixture, solid-liquid mixture, liquid-liquid mixture, and liquid-gas mixture.
By application, the chemical segment will dominate the market over the forecast period.
Regional Analysis
North America to Sway Industrial Agitator Market
North America will sway the industrial agitator market over the forecast period. Mexico, Canada, and the US will have utmost market share. Advanced technological infrastructure that encourages local manufacturers in innovating and designing the agitators as per different industrial verticals, high product penetration, increasing need for technologically advanced products, the rising need for customized, reliable, and efficient agitators from process industries, high product penetration, & the growing need for technologically advanced products are adding to the global industrial agitator market growth in the region. Besides, the increase in the penetration of industrial agitators, rise in the need for technically innovative products, surging need for personalized and proficient industrial agitators in process industries, demand for organic foods, and the growing need for effective, customized, and reliable agitators from process industries are also adding market growth.
Key Players
Eminent industry players profiled in the global industrial agitator market report include Xylem, Inc. (U.S.), SPX Flow, Inc. (U.S.), Sulzer Ltd. (Switzerland), Philadelphia Mixing Solutions Ltd. (U.S.), Dynamix Agitators Inc. (Canada), Mixer Direct, Inc. (U.S.), Tacmina Corporation (Japan), Statiflo International Ltd. (U.K.), Ekato Holdings GmbH (Germany), Fluid Kotthoff GmbH (Germany), KSB (U.S.) and Silverson Machines Inc. (U.K.).
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