Global industrial agitator market was valued at USD 2.1 billion in 2014, growing at a CAGR of 5.8% from 2015 to 2021. Industrial agitators are mechanical device designed to meet mixing and agitation needs of various manufacturing and process industries primarily including chemical, oil, gas and petrochemical, food and beverages and water and wastewater treatment among others. Industrial agitators primarily serve the purpose of homogenization, dispersion, dissolution and suspension of raw materials of different viscosity and different volume.
The global industrial agitator market is segmented by regions into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). The growth of industrial agitator market is attributed to the rapid industrialization in emerging economies such as India, China and Brazil. Growth in industries such as chemical, pharmaceutical and water and wastewater treatment among others is expected to surge the demand for industrial agitators during the forecast period. Furthermore, need for application specific customized industrial agitators are anticipated to drive the growth of industrial agitators market in future.
In 2015, North America led the industrial agitator market and the region is expected to maintain its dominance throughout the forecast period. Growth of the industrial agitator market in this region is attributed to the demand for advanced, reliable and efficient industrial agitator aimed at reducing downtime in process industries. However, Asia Pacific region have the highest growth potential during the forecast period owing to the growth in number of manufacturing industries in the region. Furthermore, favorable government policies which are likely to boost industries in the region are aiding to the market growth.
The global industrial agitator market by type is categorized into top entry, side entry, bottom entry, portable and static. Top entry dominated the industrial agitator market and is expected to maintain its dominance during the forecast period. Increasing application of top entry industrial agitator in industries such as chemical and water and wastewater treatment is driving the growth of this segment.
Based on the application, the global industrial agitator market is segmented into chemical, water and wastewater treatment, oil, gas and petrochemical, pharmaceutical, food and beverages and others. Others application segment includes mining, pulp and paper and cosmetics industries. Chemical segment dominated the industrial agitator market owing to the demand for advanced industrial agitator to meet complex agitation requirements of chemical industries.