The global industrial agitator market was valued at US$ 2.37 Bn in 2018 and is expected to reach US$ 4.65 Bn by 2027 with a CAGR growth rate of 7.8% in the forecast period from 2019 to 2027.
Industrial agitator market operates in a highly-competitive marketplace. A significant reduction in time and cost can be achieved in the production with the use of suitable agitators. Also, Positive economic growth outlook with rising industrialization worldwide and growing need for efficient agitation systems from industries, is thereby driving its adoption across the industries. Whereas, high installation and maintenance costs are some of the factors restraining the market growth. Rising number of small and medium enterprises (SMEs) are expected to fuel the future demand of portable/modular agitators and create new opportunities for the market during the forecasted period. However, high installation and maintenance costs is expected to hinder the growth of industrial agitator market in the coming years.
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Manufacturers from several industries are now a day highly focused on achieving new growth mark. Chemical industry is major revenue contributor to this market with large number of mixing applications across the production and operation. The chemical industry has been an integral part of the global economic landscape for many centuries. Mining, oil & gas and mineral processing are other major industries contributing significant revenue to this market.
In the global industrial agitator market, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period. The region is witnessing a massive demand in oil & gas industry driven by industrialization and urbanization. High demand from the users has propelled the entire oil & gas industry towards growth and has resulted in more oil & gas projects. On the other hand, China is the largest market for chemical in the world. Additionally, the country has a prominent impact on the growth rate of the global chemical industry. The growth rate of the overall chemical production in the emerging markets in the region are projected to be similar to China.
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The industrial agitator market globally is segmented by end-use industry into the general industry, chemicals, mining, oil & gas, food & beverages, and cosmetics. Geographically, the industrial agitator market is divided into five regions, including North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
The overall industrial agitator market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the industrial agitator market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the industrial agitator industry.
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The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the industrial agitator market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the industrial agitator market?
What are the prominent market trends influencing the development of the industrial agitator market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the industrial agitator market?
What are the major opportunities the market leaders can rely on to gain success and profitability?
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