Industrial Agitator Market Size, Share and CAGR by 2031
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.
Industrial Agitator Market Analysis
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.
Industrial Agitator Market Overview
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
Market Size Value in US$ 1,931.76 million in 2021 Market Size Value by US$ 2,638.61 million by 2028 Growth rate CAGR of 4.0% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Industrial Agitator Market: Strategic Insights
| Market Size Value in | US$ 1,931.76 million in 2021 |
| Market Size Value by | US$ 2,638.61 million by 2028 |
| Growth rate | CAGR of 4.0% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Industrial Agitator Market Drivers and Opportunities
Increased demand for small and medium companies
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.
Growing food and beverage industry
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.
Industrial Agitator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Industrial Agitator Market analysis are type, cause, disorder type, category, and end users
- Based on Power Rating, the Industrial Agitator Market is divided into less than 50 hp, 51 hp-85 hp, 86 hp-130 hp, and 131 and above. The 86 hp-130 hp segment held a larger market share in 2023.
- By mounting type, the market is segmented into top-mounted, bottom-mounted, and side-mounted. The top-mounted segment held the largest share of the market in 2023.
- In terms of mixing type, the market is bifurcated into solid-solid mixture, solid-liquid mixture, liquid-liquid mixture, and liquid-gas mixture.
Industrial Agitator Market Share Analysis by Geography
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.
Industrial Agitator Market Report Scope
Industrial Agitator Market News and Recent Developments
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:
- INOXPA announced the launch of the new DINAMIX SMX side-entry agitator range. This new product represents an important and strategic change within the agitator range, driving and developing the modular concept. It is an adaptable system using standard components to produce many different configurations, avoiding the need to manufacture made-to-measure agitators. (Source: INOXPA, Press Release/Company Website/Newsletter, 2023)
- Sulzer launched the latest addition to the SALOMIX agitator family, the SSF150. SALOMIX offers excellent performance in all industrial segments. The new size will be used mainly in large pulp mills, and typical applications will be storage towers, pulpers, and bleaching towers. SSF150 strengthens Sulzer’s position as the leading full-line equipment supplier to the pulp, paper, and board industry. (Source: Industrial Agitator Company Name, Press Release/Company Website/Newsletter, 2022)
Industrial Agitator Market Report Coverage and Deliverables
The “Industrial Agitator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Power Rating , Mounting Type , Mixing Type , and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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