Coating Equipment Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Coating Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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The coating equipment market is expected to see strong growth, increasing from $21.9 billion in 2023 to $23.66 billion in 2024, with a CAGR of 8.0%. This growth can be attributed to the construction industry's expansion, heightened demand for paints and coatings, industrial manufacturing, and increased environmental regulations.
How Much Will the Global Coating Equipment Market Grow, and What Is the Predicted Annual Growth Rate?
The market is also expected to grow significantly, reaching $32.58 billion in 2028, with a CAGR of 8.3%. This growth is attributed to advancements in the semiconductor industry, infrastructure development, automotive sector demands, and emerging market growth. Major trends include the integration of Industry 4.0, advancements in high-performance coatings, developments in powder coating technology, adaptive coating technologies, and customizable coating solutions.
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What Are The Top Drivers Contributing To The Growth Of The Coating Equipment Market?
The escalating demand for electric vehicles is projected to enhance the market. Electric vehicles, powered wholly or partially by electricity, present lower maintenance costs and reduced environmental impact. Coatings are vital for protecting vehicle substrates from corrosion while also contributing to aesthetic appeal. The International Energy Agency reported that electric vehicle sales exceeded 10 million in 2022, with projections for 14 million by the end of 2023. This growth in electric vehicle sales is expected to significantly drive the market forward.
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Which Companies Are Leading Growth in the Coating Equipment Market?
Major companies operating in the market include IHI Corporation, AJA INTERNATIONAL, ANEST IWATA Corporation, ASAHI SUNAC CORPORATION, Axalta Coating Systems, Blösch AG, Bühler AG, Carlisle Companies, CVD Equipment Corporation, Exel Industries, Fujimi Corporation, Gema USA Inc., Graco Inc., Guangdong HuiCheng Vacuum Technology Co.Ltd., KOLZER SRL, Miba AG, Nordson Corporation, OC Oerlikon Management AG, Oxford Instruments, Picosun Oy, PVD Products Inc., SATA GmbH & Co. KG, Semicore Equipment Inc., Singulus Technologies AG, T-M VACUUM PRODUCTS INC., ULVAC Inc., Wagner Group, Carlisle Fluid Technologies, Bystronic Lenhardt GmbH, Chemetall India Pvt. Ltd., DeVilbiss Automotive Refinishing, Durr AG, Ecco Sko A/S, Gema Powder Coating
What Are the Key Trends Defining the Coating Equipment Market Size?
The market is also evolving with new product lines. Biocoat Incorporated launched EMERSE in April 2022, an in-house dip coating system designed to meet stringent standards for medical device coating.
Global Coating Equipment Market Segmentation
The coating equipment market covered in this report is segmented –
1) By Coating Type: Powder Coating Equipment, Liquid Coating Equipment, Specialty Coating Equipment
2) By Material Type: Polyester, Polyurethane, Acrylic, PVC, Epoxy, Silicon
3) By Application: Brushed, Dipped Or Sprayed, Diffusion, Laser Processing, Plating, Thermal Spray, Vapor Deposition
4) By End Use Industry: Automotive, Medical, Aerospace, Industial, Building And Construction, Marine, Electricals And Electronics, Other End Users
Geographical Highlights: Asia-Pacific Leading Coating Equipment Market
Asia-Pacific was the largest region in the market in 2023. North America was the second-largest market in the market share. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Coating Equipment Market Overview: Definition and Scope
Coating equipment applies coatings to various substrates to protect them from corrosion and degradation, thus extending their lifespan while reducing maintenance and replacement costs.
The Coating Equipment Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Coating Equipment Market Report: Trends, Opportunities, Strategies, and More
The Coating Equipment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into coating equipment market size, coating equipment market drivers and trends, coating equipment market major players, coating equipment competitors' revenues, coating equipment market positioning, and coating equipment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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