Rapid industrialization is a common phenomenon noted across emerging economies, especially in Asia Pacific. The growth and evolution experienced by leading industrial verticals such as automotive, pharmaceuticals, food and beverage, personal care, oil and gas, aerospace, and others have subsequently propelled many ancillary manufacturing units, such as that of industrial dispensing systems and equipment. Industrial dispensing systems and equipment are used for dispensing powder product, glues, chemical, liquid product, chemicals, inks, or other solvents. The quantity of solvents dispensed by the system can be predetermined by the consumers.
Forecasting the growth trajectory of the global industrial dispensing system and equipment market, a report recently published by Transparency Market Research stated that the market is likely to exhibit a positive 7.0% CAGR between 2015 and 2021. The report also mentions that while the market stood at US$12.85 billion in 2014, by the end of 2021 it is expected to reach an estimated valuation of US$20.57 billion.
Browse Market Research Report of Industrial Dispensing System and Equipment:
For an industrial segment to prosper, several factors have to fall in place to catapult the segment to the market forefront. The key growth drivers fuelling the demand from the global industrial dispensing system and equipment market are analyzed below:
#1. Proliferation of Latest Technologies Enabling Automation in Industries
Proliferation of the latest technologies across diverse industrial verticals has helped these industries integrate automation processes. This has led to an increased demand for industrial dispensing systems and equipment. In the last couple of years the demand for dispensing systems from industries such as oil and gas, automotive, defense and aerospace, and pharmaceutical has increased significantly.
#2. Increasing Demand from the Automotive Sector
The global industrial dispensing system and equipment market has been gaining impetus from the increasing adoption of novel technologies in the automotive sector. Similarly, the food and beverages industry has also adopted new technologies such as fluid dynamic technology, which, according to industry experts, will have a significant impact on the dispensing systems market.
#3. Flourishing Prospects across Developing Economies
The global industrial dispensing system and equipment market was led by North America in 2014, but the demand for industrial dispensing systems and equipment has been exceptionally high across developing economies such as India, Brazil, South Africa, China, Mauritius, and Ghana. Incredible economic development exhibited across emerging countries in conjunction with rapid industrialization has helped the dispensing system and equipment market find a stable niche across these countries.
#4. Adoption of Fluid Dynamic Technology to Fuel Industrial Dispensing System and Equipment Market
There was a time when the reluctance of the industrial sector to adopt new technologies was very apparent. However, the dynamic modern industrial culture has resulted in industries proactively introducing technological advances in their operations with the sole aim of staying in touch with the incumbent trends. The food and beverages industry, for instance, has been capitalizing on the intrinsic benefits of the fluid dynamic technology for quite some time now. Fluid dynamic technology offers advantages such as ensuring maximum efficiency in minimum space and reducing carbon footprint. High rate of adoption of fluid dynamic technology across industries has propelled the industrial dispensing system and equipment market.
Browse Press Release of Industrial Dispensing System and Equipment Market:
As a result of the increasing demand from various end-use industries, the global industrial dispensing system and equipment market is likely to register steady growth over the forthcoming years.