Industrial Dispensing Systems and Equipment Market to reach US$20.57 billion by 2021: Transparency Market Research
By Business Wire News
By Business Wire News
A new market study released by Transparency Market Research (TMR) anticipates the global industrial dispensing system and equipment market to reach a value of US$20.57 billion by 2021, rising at a CAGR of 7.0% during the forecast period from 2015 to 2021.
According to the report, titled “Industrial Dispensing System and Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021”, the global market for industrial dispensing system and equipment stood at US$12.85 billion in 2014. The rising industrialization in developing economies across the globe is the key factor driving the growth of this market.
Browse Research Report:http://www.transparencymarketresearch.com/industrial-dispensing-system-equipment-market.html
On the other hand, the market can face severe challenges in the next 6 years owing to the lack of high-quality liquid dispensing machines and aftersales services. However, the technical development in the field of dispensing systems and related equipment is expected to propel the global industrial dispensing system and equipment market over the forecast period, states the report.
Industrial dispensing systems and equipment are majorly applied in glues and sealants dispensers, powder product dispensers, liquid materials dispensers, and several other types of dispensers, whereas food and beverage, personal care products, automotive, pharmaceutical, and other industries are the key consumers of the global industrial dispensing systems and equipment market. The pharmaceutical industry holds a dominant share in the overall market.
The industrial dispensing systems and equipment market in North America led the global industry in 2014 and is projected to maintain leadership till 2021. In the same year, the markets in Europe and Asia Pacific jointly held over half of the global market in terms of revenue.
Nordson Corp., Graco, and Fisnar are some of the major companies profiled in this report.
Transparency Market Research (TMR) is a U.S.-based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.