Albany, NY, Jan. 25, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Industrial Agitator Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021,” global industrial agitator market was valued at USD 2.1 billion in 2014; growing at a CAGR of 5.8% from 2015 to 2021 to account for USD 3 billion in 2021.
Industrial agitators are mechanical equipment composed of drive devices (motors and belts), shafts and impellers. Additionally, mechanical seals are also used to mount industrial agitators onto the tanks, vessels or containers for closed tank agitation. Industrial agitators are mounted or inserted into tanks or vessels by side, top or bottom. Industrial agitator serves all mixing and agitation needs of raw materials present in different forms such as solid-solid, solid-liquid, liquid-liquid and liquid-gas. Furthermore, industrial agitator finds application across industries primarily chemical, oil, gas and petrochemical, water and wastewater treatment and pharmaceutical among others.
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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.
By application chemical segment dominated the global industrial agitator market in 2015. Growth in chemical industries across the globe is anticipated to boost the demand for industrial agitators in this segment. Complex agitation requirements in chemical industries for uniform mixing, promotion of suspension, reaction and dispersion of raw materials is leading to increasing incorporation of industrial agitators in this segment. Furthermore, growth of global industrial agitator market is attributed to the rising demands for industrial agitators in water and wastewater treatment industries.
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Geographically, North America led the industrial agitator market in 2015 and the region is expected to continue its dominance by 2021. Demand for reliability and efficiency to reduce downtime in manufacturing and process industries in the region is driving the growth of industrial agitators in the region. However, Asia Pacific (APAC) region have the highest growth potential during the forecast period due to the rapid industrialization and favorable government policies to boost manufacturing industries in the region.
Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of industrial agitator industry. Major market participants profiled in this report include EKATO Group, SPX Corporation, Sulzer Ltd. Philadelphia Mixing Solutions, Ltd., Chemineer Inc., Tacmina Corporation and Xylem, Inc. among others.
The report studies the global industrial agitator market, and provides estimates in terms of revenue (USD Million) from 2015 to 2021. Market estimates on the basis of type and application for each region. The market has been segmented as follows
Global Industrial Agitator Market: By Type
- Top Entry
- Side Entry
- Bottom Entry
Global Industrial Agitator Market: By Application
- Water and wastewater treatment
- Oil, gas and petrochemical
- Food and beverage
- Others (Mining, Pulp and paper & Cosmetics)
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
Global Industrial Agitator Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East
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Source:Transparency Market Research