The global industrial agitators market is rising at a significant pace, projected to rise at a CAGR of 5.01% during the estimated period from 2021 to 2027, starting from USD 2,833.66 million in 2020. Increasing production and demand of oil and gas in emerging economies, booming pharmaceutical industry, increasing water pollution and rising demand for efficient wastewater treatment practices, revival of economies and various other factors are expected to significantly drive the growth of the market during the forecast period.
Top-mounted segment dominated the global market in 2020
Based on mounting, top mounted agitators dominated the market followed by side-mounted segment. The top mounted segment is estimated to register a CAGR value of 5.26% for the forecast period. Increasing demand from the water and wastewater treatment industry, wide use in mixing application of API manufacturing industry are the key drivers supporting the growth of the segment.
Large tank agitators segment dominated the market, by model in 2020
Based on model, large tank agitators dominated the market and is expected to grow at a CAGR of 5.08% during the forecast period owing to increasing adoption of large tank agitators in the mining industry, surge in the adoption of large tank agitators in the chemical industry for applications such as corrosive acids and shear sensitive media, in water and wastewater treatment, petrochemical as well as in refineries and sewage treatment industry.
Liquid-liquid mixture dominated the global market in 2020
Based on form, liquid-liquid mixture accounted for the largest share of 43.90%. Based on value, the global industrial agitators market for liquid-liquid mixture is expected to reach USD 1780.15 million by 2027. Increasing consumption of liquid products such as milk, juice, soft drinks, alcohol and other fluid food products. Moreover, huge potential of chemical industry positively impacts the growth of liquid-liquid mixing technology.
Chemical industry accounts for the largest share of the global market in 2020
The chemical industry held the largest share of 20.30% in 2020. The chemical segment is predicted to overshadow the industrial agitator market reaching over USD 811.49 million by 2027. The sector has high requirements for suspension, reaction, mixing and dispersion of raw materials. Therefore, there is growing demand for implementation of industrial agitators.
North America dominated the global market in 2020
North America led the market and is expected to reach USD 1,407.02 million by 2027. The presence of well developed countries such as the US and Canada and high focus on industrial development are two of the major factors responsible for the growth of industrial agitator market in this region.
The key competitors of this market include SPX FLOW (United States), Alfa Laval AB (Sweden), Xylem Inc (United States), Ekato group (Germany), Sulzer (Switzerland), Tacmina Corporation (Japan), Dynamix Agitators Inc (Canada), Philadelphia Mixing Solutions Ltd (United States), TIMSA (Spain), Woodman Agitator Inc (United States), White Mountain Process (United States), Euromixers Ltd (UK) and Teralba Industries (Australia) among others.
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