Industrial
Agitators facilitate many important activities in the manufacturing and industrial sector of multiple end use industries and have seen evolution from just mixing liquids to performing various other tasks. “Industrial agitator demand growth can be attributed to factors such as rising industrial activity across the country, increasing demand for customised industrial agitators, rising requirement for optimization of mixing processes, etc”, says Ramachandran V., CEO, Ramtech.
Industrial Agitator market size is forecasted to reach $2.8 billion by 2026, at a CAGR of 5.1 per cent during 2021-2026. There are many potential benefits of the industrial agitators which include rapid flash mixing and precision in control, higher reliability, durability and lower impact over environmental assets are driving the Industrial Agitator Industry growth in the recent times.
Use in Pharmaceutical Sector
There has been an increase in demand of the pharmaceutical market across the country which has significantly increased the Industrial Agitator market demand. Industrial Agitators are intensively used in the pharmaceutical market to improve the performance of industrial procedures while reducing the manufacturing costs of medicines. Moreover, the increasing number of chronic illnesses across the country is fuelling the growth of the pharmaceutical market which is positively influencing the Industrial Agitators market growth.
Surge in Number of SMEs Fuels Growth
Small and medium enterprises play an integral part in the growth of India’s economy. According to the data published by SME Chamber of India, the SMEs contribute more than 60 per cent and around 40 per cent to the GDP. With fast changing technology scenario and growing number of small and medium manufacturers, the demand for innovative industrial agitators is growing continuously. In addition to the developing companies, the revenue growth rate of middle market companies has been surging at a consistent pace and it is expected to outperform various economic segments in the country.
Support of Government
Moreover, increasing support from the government in the form of subsidies is leading to the expansion of SMBs, thereby fuelling the demand.
The low power requirements and high mixing speed have reduced the overall manufacturing cost of these devices. Key features such as impact resistance, durability and energy efficiency are expected to fuel the demand for Industrial Agitators in various applications. The Indian government is largely focused on implementing beneficiary initiatives such as Make in India, Skill India which are fuelling the Industrial agitator market growth across the country.
Use in Wastewater Applications
Water and wastewater application is anticipated to witness a healthy growth owing to the increased demand for wastewater treatment solutions. This sector has huge requirements for agitators that have high reliability, durability and efficient performance. Agitators are used with equipment required for pre-treatment of municipal and industrial water filtration. The crisis of water shortage in many regions has given rise to the increased requirement of water treatment solution equipment, thereby boosting the demand in the country.
Chemical Industry
The chemical industry is estimated to dominate the industrial agitator market reaching over USD 1.1 billion by 2024. This growth can be attributed to the rising demand for customised agitators in this sector. Chemical Industry has high requirements for suspension, reaction, mixing and dispersion of raw materials. Hence, there is growing demand for implementation of these devices. The shift from conventional utilization capacity to focus on the capability to perform efficient and timely order fulfilment is projected to boost the regional manufacturing sector, thereby, augmenting the demand for industrial agitators.
Market Restraints
High Installation Cost:- The increasing installation costs and the requirement of proper maintenance and repair of these Industrial Agitators irrespective of the size of the end-user applications are hindering the overall growth of the Industrial Agitator market. The abrasive industrial applications can potentially cause aggressive wear and tear on the vessel surface. Additionally, the scrappers in the industrial agitators are extensively exposed to excessive frictions, which might require regular maintenance and repair. Such factors impose significant ownership costs as well.
Design Issues:- The declining production rate of the end user industries might also negatively impact the industrial agitator market growth. Additionally, the issues with the dual-agitation vessels and the multi-vessel mixing systems add more complexity to the industrial processes.
Some manufacturers are designing the agitators with the slower moving scrape surface agitation with higher shear mixer. Such designs might limit the mixing action and increase the overall time taken for the process. These design related issues are considered as the major challenge for the overall growth of the Industrial Agitator market.
Future of Industrial Agitator Market
Industrial agitators market will help industry consultants, equipment manufacturers and existing players who are searching for expansion opportunities. On the other hand, new players will search for possibilities and other stakeholders to align their market centric strategies according to the on-going and expected trends in the future.
