According to a new market report published by Transparency Market Research titled ‘Industrial Agitator Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 20192027, the global industrial agitator market is expected to reach US$ 2,324.9 Mn by 2027, expanding at a CAGR of 4.1% from 2019 to 2027. In terms of volume, the global industrial agitator market is expected to reach 424.8 ‘000 units by 2027, expanding at a CAGR of 3.9% during the forecast period. Based on region, the global market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.
North America is the second-largest market for industrial agitator in the world. Various end-use industries, ranging from oil, gas and petrochemical to water and wastewater treatment, utilize industrial agitators for mixing purposes. In North America, the U.S. is a prominent market for industrial agitator, followed by Canada. The U.S. is a major producers of natural gas, including shale gas, in the world. As per the U.S. Energy Information Administration (EIA), in December 2018, the U.S. produced about 65 billion cubic feet per day (Bcf/d) of natural gas (shale gas and tight oil), which is about 70.0% of total U.S. natural gas production. Furthermore, in December 2018, the country produced about seven million barrels per day (b/d) of crude oil, which is 60.0% of the total U.S. oil production. Compared to production a decade ago, in December 2008, natural gas (shale gas and tight oil) accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production. Thus, a rise in the demand for shale gas across the U.S. is boosting the demand for industrial agitators across North America.
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Europe is the third-largest market for industrial agitator in the world. Among the various end-use industries that use industrial agitators across Europe, food & beverage is a prominent end-user. The food & beverage industry is a prominent manufacturing industry in Europe, in terms of gross value added to the economy and number of people employed. Germany, the U.K., and France are major markets for industrial agitator in Europe. In terms of value addition by the food & beverage sector, Germany is a notable market in Europe. Therefore, a rise in the demand for food & beverage products is driving the production of food & beverage, which is subsequently propelling the demand for industrial agitators in Germany.
Asia Pacific is a significant market for industrial agitator in the world. In Asia Pacific, China is a major market for industrial agitator, followed by Japan and India. As per the CEFIC (European Chemical Industry Council), China increased its share of global chemical sales from 14.8% in 2007 to 37.2% in 2017. Both South Korea and India increased their share of global chemical sales from 3.3% and 2.1% in 2007, respectively, to 3.5% and 2.9% in 2017, respectively. On the other hand, the share held by Japan of the global chemical sales declined from 6.8% in 2007 to 4.4% in 2017. Therefore, a rise in the demand for chemicals across the countries in Asia Pacific is propelling the demand for industrial agitators in the region.
Middle East & Africa (MEA) is a relatively minor market for industrial agitator in the world. GCC (Gulf Cooperation Council) countries, which include the United Arab Emirates (UAE), Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain, is a prominent market for industrial agitator in the region. South Africa is the second-largest market in MEA.
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