The Industrial Agitator Market size is projected to reach US$ 4.20 billion by 2031 from US$ 2.91 billion in 2023. The market is expected to register a CAGR of 4.70% in 2023–2031. Many manufacturers in the industry are focusing on reducing energy usage. Thus, demand and adoption of energy-saving components such as variable speed drives and computational fluid dynamic simulation, among others.
Increased demand from the pharmaceutical industry. Agitators in the pharmaceutical industry are used for mixing a wide range of liquids and powders along with a wide range of materials. Growth in the pharmaceutical industry directly increases the demand for industrial agitators. For instance, as per the data published by the US Food and Drug Administration in 2023, the biopharmaceutical facilities in the US in 2018 were 1018. However, the number reached 1580 in 2023. Further, as per the data published by the National Library of Medicine in 2022, pharmaceutical expenses in the US increased by approximately 8% in 2021 to reach US$ 576.9 billion. Such growth in the pharmaceutical industry is driving the market.
Many manufacturers in the industry are focusing on providing customized agitators for their end-users. The requirements of each end-user are different from each other. Thus, the manufacturers are providing customized solutions. The top-mounted category of industrial agitators is projected to dominate the market. The top-mounted agitators ensure homogenous mixing, high process reliability, and low operating costs, among others. Further, in terms of region, Asia Pacific is projected to create lucrative opportunities for the industrial agitators market owing to continuous growth in the industry sector.
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Industrial Agitator Market: Strategic Insights
The total number of small and medium companies worldwide is growing globally. As per the data published by the US government in 2023, there are approximately 33 million small businesses in the US, that are accounting for 46% of the private sector companies in the US. This shows an increased number of small businesses in the US. Such an increased number of small businesses is driving the need for the industrial agitator market.
The demand for the food and beverage industry is growing owing to the increasing population. As per the data published by the United Nations in 2023, the world population is projected to reach 8.5 billion by 2030, while by 2050, the population is estimated to reach to 9.7 billion. Such an increased population is projected to increase the demand for the food and beverage industry, ultimately driving the demand for the industrial agitators market during the forecast period.
Key segments that contributed to the derivation of the Industrial Agitator Market analysis are type, cause, disorder type, category, and end users
The geographic scope of the Industrial Agitator Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the Industrial Agitator Market. One of the notable factors behind the market growth of the industrial agitator is increased pharmaceutical growth. As per the data available in the public domain, the US drug sales totaled approximately US$ 100 billion, while the sales of the same drugs totaled US$ 58 billion in 2020. Further, one of the notable companies in the US, Johnson and Johnson, booked US$ 17.9 billion in profit. Further, Bristol Myers Squibb generated US$ 6.7 billion in profit. This data shows an increased and profitable US pharmaceutical industry. Continuous growth in the pharmaceutical industry has directly increased the demand for the industrial agitators market in the past few years.
The regional trends and factors influencing the Industrial Agitator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Industrial Agitator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.91 Billion |
| Market Size by 2031 | US$ 4.20 Billion |
| Global CAGR (2023 - 2031) | 4.70% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Power Rating
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Industrial Agitator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Industrial Agitator Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Industrial Agitator Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
The “Industrial Agitator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: