Press release
Strict Regulations Regarding Hygiene At Industrial Workplaces To Create High Demand For Industrial Dispensers Market From 2021-2031
Industrial Dispensers Market
· Market - Industrial Dispensers Market
· Market Value - US$ 14 Bn By 2031-End
· Market CAGR Value - 5% From 2021-2031
· Market Forecast Year - 2021-2031
The global industrial dispenser market is projected to reach close to US$ 14 Bn by 2031-end, expanding at a CAGR of 5% over the next ten years. Higher rate of adoption of Industry 4.0 and integration of automation in various industries are contributing toward market growth.
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Newer sensor technologies in industrial dispensers will provide the necessary boost to the market. Demand for industrial dispensers witnessed a slight dip in 2020 due the economic crisis caused by the COVID 19 pandemic, mainly from manufacturing plants.
However, sales of industrial dispensers to pharmaceutical industries saw a potential increase. Higher sanitization precautions being undertaken in various end-use industries increased the sales of industrial dispensers toward the last quarter of 2020.
Key Takeaways from Market Study
Some of the major and domestic global market have been investing heavily in product R&D to offer improved throughput and lower cycle time at lower costs.
Advancements of technology in the field of image recognition in dispensing accuracy in various processes within various end use industries are expected to create significant demand for industrial dispensers.
Leading players are focusing on development of technologically advanced dispensing solutions with implementation smart automation and IoT. These activities are expected to create high growth virtues for the market.
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Higher number of custom-built projects for various complex processes in several end-use industries has led to product development. Manufacturers are focusing on obtaining new supply contracts for expanding their client base as well as building existing customer relations.
East Asia and Europe are expected to have leading market shares in the global market owing to the presence of large industrial bases in the developed countries in these regions.
However, the market in South Asia and Pacific is expected to witness the highest growth rate on the back of developing economies, owing to increasing automation across various industries, growing use of dispensers in the pharmaceutical industry, and rising demand for packaged food.
Competitive Landscape
The market is observed to be fragmented with a high influx of tier-2 and tier-3 vendors operating in respective regional markets, and with tier-1 players accounting for nearly one-third of the market share. Tier-1 players are likely to invest in new technology developments for product improvement in order to maintain their market shares.
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Some of the key players in this industry are Nordson Corporation, Eisenmann intec GmbH & Co. KG, Henkel AG & Co KGaA, Atlas Copco AB, Graco Inc., and Hitachi High-Technologies Corporation.
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