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Vacuum Coating Equipment Market By 2024 | Key Industry Player | Buhler Group, Singulus Technologies AG, The BCI Blösch Group, OC Oerlikon, Scientific Vacuum Systems Limited, CVD Equipment Corporation, Kolzer SRL, Applied Materials Incorporation
Vacuum Coating Equipment Market
Vacuum coating equipment Market is primarily driven by booming demand from electronic and automobile industry. The product market has seen considerable growth over the recent years on account of its widespread application in energy & power industry, especially in solar power generation. It is basically used for uniformly coating solar panels by black layer for capturing as much amount of solar energy as possible. These versatile feature makes this product highly desirable for energy and allied applications.
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PVD coating is applied on engine parts such as valve train components, drive train components, piston pins, piston rings, and gears. In 2013, over 21 million units of commercial vehicles were manufactured and in 2016, manufacturing crossed 22.8 million units. Global passenger vehicles sales registered a growth of 7.2% between March 2015 to March 2016. Increasing adoption of this coating in automobile industry and other industrial applications will strengthen vacuum coating equipment sales market in future. It is specifically replacing chrome plating, as chromium is carcinogenic in nature and is getting ban in many regions. On the other hand, complex machinery requirements and the need for skilled operators etc. are some of the factors that will hinder growth PVD coating penetration.
Vacuum coating equipment are considerably used for microelectronic applications. The PVD coating technology is slowly emerging as substitute to conventional methods of painting and electroplating. It is also gradually replacing chrome plating. Hence, increasing awareness and adoption of this technology as an alternative to conventional methods shall fuel vacuum coating equipment market growth in the forecast duration. Desirable characteristics such as durability and appealing aesthetics makes the product suitable for electronics and automobile applications.
Magnetron sputtering has wide and diversified applications such as in gas sensors, corrosion-resistant films, magnetic films, metallizing for microelectronic circuits and chip carriers. Metallizing is an innovative technology replacing electroplating in electronics industry. Magnetron sputtering application will grow above 9% CAGR in global vacuum coating equipment market till 2024.
Vacuum Coating Equipment Market was over USD 23 billion in 2015, and will cross USD 47 billion by 2024.
Growth Drivers:
. Need to comply with engine emission norms
. Advantages of decorative PVD coatings over electroplating in consumer goods industry
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Booming electronics & electrical industry offers promising growth prospects for chip carriers and microelectronic circuits in magnetron squirting during the forecast period. Magnets are employed in steel industry, speakers and other numerous industrial applications. The above-mentioned magnetron squirting end-users shall propel vacuum coating equipment market in the coming years.
Asia Pacific contributes significantly in the market with nearly 50% share in revenue generation. Rapid industrialization has increased energy requirements of this region and boosted power generation industry significantly. Leading players of smartphone are foraying into manufacturing of premium smartphones category which requires luxurious external body display this in turn will stimulate vacuum coating equipment sales market demand.
The foremost manufacturers of vacuum coating equipment are Buhler Group, Singulus Technologies AG, The BCI Blösch Group, OC Oerlikon, Scientific Vacuum Systems Limited, CVD Equipment Corporation, Kolzer SRL, Applied Materials Incorporation, IHI Corporation, ULVAC Technologies Incorporation, Semicore Equipment Incorporation, PVD Products Incorporation, AJA International, T-M Vacuum Products Incorporation, and The Miba Coating Group are the key players of vacuum coating equipment market.
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