Coating Equipment Market Forecast 2021: COVID-19 Impact 2021: Global Industry Analysis, Opportunity Assessment and Forecast to 2023
Market Scope
Market
Research Future (MRFR)’s new detailed study reveals that the global coating
equipment market 2020 can reach an approx. valuation of USD 30 billion by
2025-end. The market is also set to expand at a decent rate of 5.5% between
2019 and 2025 (which is the appraisal period).
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Top Boosters and Primary
Restraints
Coating equipment market is growing relentlessly
on the back of factors like the widespread applications in a variety of
industries such as automotive, aerospace, transportation, construction and
industrial. Surge in automotive sales, the expanding global population,
burgeoning infrastructural sector and the rising purchasing power of consumers
in developing economies are also promoting the growth of the coating equipment
market.
Heavy machineries extensively employed in various
industries make use of several layering tools that offer resistance from
abrasion, corrosion, wear & tear and rusting, while boosting the lifespan.
Rising industrialization in developing countries can also drive the demand for
coating equipment across major industries. The increasing use of heavy machines
in the manufacturing industry and the rising deployment of layering in
automobiles, bicycle and household appliances can ensure market growth in the
approaching years.
On a dim note, the instability in crude oil prices
can be a primary restraint in the market growth during the review timeline.
With that said, the market can largely benefit from the steady economic growth
in developing nations like India, Brazil, Mexico and China, in addition to the
increased deployment of the latest technologies in coating equipment including
AI, big data and IoT.
Market Segmentation
The coating
equipment industry has been extensively studied by MRFR analysts, who have
listed the top segments as type and industry vertical in the report.
The main types of coating equipment are powder,
specialty and liquid. Between these, the highest growth rate can be procured by
the powder coating segment, since these are the most ubiquitous types of
coating used on metal surfaces across numerous industry verticals.
With respect to the industry vertical, the global
market is considered for aerospace, automotive, construction, industrial, and
others. The market is presumed to be led by the industrial sector in the
forthcoming years, on account of the rising use of coating equipment in heavy
machinery, which have become quite common in the sector.
Regional Insight
The market for coating equipment market can be regionally dissected into Europe, North America, Asia
Pacific (APAC), and the Rest of the World (RoW).
APAC is projected to be the most successful market
for coating equipment in the ensuing period, thanks to the striking industrial
growth as well as the fast-paced urbanization in India, Indonesia and China.
Out of these, China is set to gain the highest traction in the regional market,
given the escalating demand from the consistently expanding industrial sector
and the consumer goods industry.
Europe can potentially be one of the stronger
markets across the globe, because of the rising consumption of coverings in the
industrial sector. Stricter government safety regulations have boosted the
demand for eco-friendly items, leading to higher consumption of coating
equipment in furniture, architectural, automotive and marine sectors. The
regional market leader is touted to be Germany, as the country possesses an
expansive automotive industry. The automotive sector makes high demand for
coating equipment for protecting the automobile parts from wear & tear as
well as abrasion. The top consumers in the region are Mercedes-Benz, Chevrolet,
Volkswagen group and Skoda, and more. Marine industry also helps induce major
market growth, on account of the hike in the demand for coverings on yacht and
ships in the region.
Leading Companies
The
companies currently leading the coating equipment market include Graco Inc.
(US), O.C. Oerlikon (Switzerland), OC Oerlikon Management AG (Switzerland),
ASAHI SUNAC CORPORATION (Japan), Carlisle Companies (US), Nordson Corporation
(US), Anest Iwata (Japan), IHI Ionbond AG (Switzerland), SATA GmbH & Co.
KG. (Germany) and J. Wagner GmbH (Germany), to mention a few.
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equipment. In addition to excellent throughput, yield and performance
advantages, the coating equipment provides great cost benefits to customers
that manufacture advanced precision optics products that require highly complex
coating.
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