Demand for Advanced and Customized Industrial Agitators drives Its Market Globally
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. Industrial agitator serves the purpose of mixing two or more materials in various proportions and also of different viscosity to attain a desired level of uniformity in end products.
The growth of industrial agitators market is attributed to the rapid industrialization in developing economies primarily including China, Brazil and India. Growing number of industries in these regions is expected to surge manufacturing activities, which in turn is boosting the demand for industrial agitators. North America and Europe contributed maximum market share of industrial agitators, however growth in these regions are stagnant or have reached to a stage of maturity. Asia Pacific and RoW have better growth potential during the forecast period due to the rise in GDP and favorable government policies to boost manufacturing industries in these regions. The major opportunities of global industrial agitators market lies in the increasing need for customization of industrial agitators specific to end use application. Application specific customization of industrial agitators and refurbishment or replacement of traditional agitators is creating new opportunities in the market.
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The industrial agitator market is expected to surge during the forecast period owing to the growth in manufacturing and process industries primarily in developing regions such as Asia Pacific and rest of the world (RoW). Favorable government policies to boost manufacturing industries in emerging countries such as India, China and Brazil are anticipated to drive the demand for industrial agitators during the forecast period. Moreover, demand for advanced and customized industrial agitators, specific to end use application in manufacturing and process industries is further aiding the market growth. However, high maintenance cost and need for frequent servicing and installation support to consumers is restraining the market growth. Due to these factors, total operation costs are escalating which in turn is leading to diminishing profit margin for industries.
Top entry industrial agitator held the largest market share in terms of revenue in 2015, and is expected to maintain its dominance during the forecast period. Top entry industrial agitator covers most of the mixing and homogenization needs of customers and also have a long service life. Furthermore, increasing application of top entry industrial agitators in manufacturing and process industries primarily includes chemical, oil, gas and petrochemical and water and wastewater treatment. Additionally, demand for customization and design of industrial agitators by varying the impeller and shaft size is anticipated to boost the overall market growth during the forecast period.
Describing the competitive hierarchy, the report profiles some of the key players in the global industrial agitator market such as SPX Corporation, EKATO Group, Sulzer Ltd., Chemineer Inc., Philadelphia Mixing Solutions Ltd., Xylem Inc., Tacmina Corporation, Flux-Gerate GmbH, Mixel Agitators, and Mersen SA. The report provides detailed information about the key players including their business strategies, financial overview, and recent developments.