ID: MRFR/IA - E/1588-HCR | February 2021 | Region: Global | 108 pages
The equipment which are used to apply a coating on the surface of metal objects are known as coating equipment. There are various types of coating equipment available in the market, such as thermal spray and laser cladding, that are designed to use across industry verticals such as automotive, aerospace & defense, power, and oil & gas. Coatings are classified into all-over coating, full covered surface, and part of substrate.
The growing need for replacement of existing coating systems, increasing demand from automotive, aviation, and medical industries, stringent environmental regulations, and government focus to promote the use of eco-friendly coating are some the key factors driving the global market.
Lack of skilled labor, fluctuation in crude oil prices, increasing costs of raw materials such as plastics, metal parts, and electric components, and unorganized aftermarket are hindering the growth of this market. However, the growing economy in developing countries such as China, India, Brazil, and Mexico; deployment of advanced technology in coating equipment such as IoT, AI, and big data; expansion of the industrial and manufacturing sector in emerging market are providing growth opportunities for vendors operating in the market. Hence, the global coating equipment market is estimated to reach around USD 30 billion by 2025, registering a CAGR of ~5.5% during the forecast period.
Segmentation: Global Coating Equipment Market
The global coating equipment market is segmented based on type, industry vertical, and region. On the basis of type, the global market has been segmented into liquid, powder, and specialty coating equipment. The powder coating segment is expected to register the highest CAGR over the forecast period being the most common type of coating applied on metal surfaces and used across industry verticals. On the basis of industry vertical, the global coating equipment market has been segmented into automotive, aerospace, industrial, construction, and others. The industrial sector is expected to lead the coating equipment market over the forecast period due to increasing use of the coating in heavy machinery.
By geography, the global coating equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The market in Asia-Pacific is expected to lead the global coating equipment market in terms of market share during the forecast period. In Asia-Pacific, China holds the largest market share and is also projected to register the highest growth rate during the assessment period; this growth is due to the increase in demand from industrial products and consumer goods verticals.
The North American coating equipment market is expected to register moderate growth over the review period. Factors such as increasing technological advancements in products and high adoption of coating equipment in aerospace & defense sector have boosted the growth in the regional market. The market in Europe is expected to grow at phenomenal rate over the forecast period; the growing demand for electric vehicles along with development in automotive industry across the region are some of the factors anticipated to propel market growth in the region. Furthermore, rapid urbanization is likely to boost the growth of coating equipment market in the Middle East & Africa during the forecast period.
The key players of the global coating equipment market are Nordson Corporation (US), Anest Iwata (Japan), Graco Inc. (US), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), SATA GmbH & Co. KG. (Germany), ASAHI SUNAC CORPORATION (Japan), J. Wagner GmbH (Germany), Carlisle Companies (US), and OC Oerlikon Management AG (Switzerland).
The report for the global coating equipment market of Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Frequently Asked Questions (FAQ) :
The market can achieve a growth rate of 5.5% in the years ahead.
The global market for coating equipment can touch an approx. valuation of USD 30bn by 2025.
Carlisle Companies (US), Nordson Corporation (US), ASAHI SUNAC CORPORATION (Japan), Anest Iwata (Japan), Graco Inc. (US), O.C. Oerlikon (Switzerland), OC Oerlikon Management AG (Switzerland), SATA GmbH & Co. KG. (Germany), J. Wagner GmbH (Germany), IHI Ionbond AG (Switzerland), are the notable companies in the market.
The North American market can perform moderately well in the coming years.
The types of coating equipment mentioned in the report are powder, specialty and liquid.