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Industrial Dispensing Systems and Equipment Market Overview Report 2024
Industrial Dispensing Systems and Equipment Market Overview
According to The Business Research Company's, The industrial dispensing system and equipment market size has grown strongly in recent years. It will grow from $15.28 billion in 2023 to $16.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to automation in manufacturing processes, stringent quality and compliance standards, rise in the electronics manufacturing industry, increased use of adhesives and sealants, demand for faster production cycles.
The industrial dispensing system and equipment market size is expected to see strong growth in the next few years. It will grow to $21.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to focus on lightweight materials in aerospace, adoption in renewable energy manufacturing, rising demand for consumer electronics, focus on high-performance coatings. Major trends in the forecast period include industry 4.0 integration, customization and flexibility, integration of vision systems, collaborative robots (cobots), digitalization of dispensing processes, rapid cure technologies.
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Market Drivers and Trends:
The increasing demand for chemical industries is expected to propel the growth of the industrial dispensing system and equipment market going forward. The chemical industry is a huge sector comprises the companies that produce industrial chemicals. In chemical industries, dispensing systems are projected to be important in controlling and monitoring chemical consumption. For instance, in February 2023, according to European Chemical Industry Council, a Belgium-based chemical manufacturing company, the global sales of chemicals grew to $4,429 billion (€4,026 billion) in 2021, with a 15.2 % increase when compared to the previous year. Therefore, the increasing demand for chemical industries is driving the growth of the industrial dispensing system and equipment market.
Technological advancements are a key trend gaining popularity in the industrial dispensing system and equipment market. Major companies operating in industrial dispensing systems and equipment are adopting new technologies to sustain their position in the market. For instance, in July 2022, Dover Fueling Solutions, a US-based automation machinery manufacturing company, launched clean energy portfolio technology. This technology is used for a four-nozzle wayne-helix 6000 II CNG fluid dispenser. This is a double-sided model, which has two nozzles on each side and four in total, advances DFS' cutting-edge dispenser technology and features an improved user interface. It also exemplifies DFS' ongoing dedication to supporting the world's fuel retail industry by offering premium alternative energy options.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Automation Alternatives Inc.; Dymax Corporation; Fisnar Inc.; GDP Global; Graco Inc.; Hernon Manufacturing Inc.; IMI Cornelius Inc.; Franklin Fueling System; Techcon Systems Inc.; Wayne Fueling Systems; Delo Industrial Adhesives; Nordson Corporation; Jensen Group; Hydro Systems; Weatherchem Corporation; Global Closures System; Hitachi High-Technologies Corporation; ViscoTec Pumpen- u. Dosiertechnik GmbH; Scheidt & Bachmann GmbH; Tominaga Manufacturing Co. Ltd.; SANKI Petroleum Technology Co. Ltd.; Semco Inc.; Liquid Control Corporation; EFD International Inc.; Henkel AG & Co. KGaA; Sulzer Mixpac AG; DOPAG Dr. O. Frehn GmbH & Co. KG; Musashi Engineering Inc.; Dürr AG; SCA Schucker GmbH & Co. KG
Industrial Dispensing System And Equipment Market 2024 Key Insights:
• The industrial dispensing system and equipment market will grow to $21.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Chemical Industry Boom Fuels Surge In Industrial Dispensing System And Equipment Market
• Innovative Technological Advancements Propel Growth In The Industrial Dispensing System And Equipment Market
• North America was the largest region in the industrial dispensing system and equipment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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