Expanding Automotive Industry Driving Metal Finishing Equipment Market | Top Market Players are Atotech Deutschland GmbH, Plating Equipment Ltd., GARBOLI, Mass Finishing Incorporated, Rosler Oberflachentechnik GmbH, Jason Industries Inc., ClassOne Technol

In 2018, the metal finishing equipment market generated $13,171.2 million and is predicted to attain $17,617.0 million in 2024, advancing at a 4.9% CAGR during the forecast period (2019-2024). The market is growing due to the increasing middle-class population in developing countries, expanding automotive industry, and rising demand from the aerospace industry due to critical nature of components. The equipment that are utilized for carrying out metal finishing task, the process under which a metal coating is done over a metallic part/substrate, for various metal components is referred to as metal finishing equipment.

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In terms of type, the metal finishing equipment market is categorized into hybrid metal finishing, inorganic metal finishing, and organic metal finishing. Out of these, the inorganic metal finishing category dominated the market during the historical period (2014-2018) and is projected to hold the largest share of the market during the forecast period as well. The reason for this is that this equipment is extensively used for metal finishing of aerospace and automotive components. The category is further divided into vibratory/mass, electro polishing, electroplating, cladding, galvanization, anodizing, conversion coating, electroless plating, and others.

One of the major driving factors of the metal finishing equipment market is the expanding automotive industry. The rapid growth of the industry is primarily ascribed to the increasing sales of passenger cars and other vehicles in emerging economies such as Mexico, China, Indonesia, and India. This is resulting in rising demand for metal finishing equipment as they are used for various automotive components, including power steering systems, brake parts, under-the-hood components, chassis hardware, air-conditioning components, and fuel systems, to protect them from corrosion.

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Among all regions, APAC generated the largest demand for metal finishing equipment, and held a market share of more than 55% in 2018. The demand is generating from its large-scale manufacturing sector comprises vast automotive industry in China, India, and Japan, along with advanced consumer electronics industry in China, Japan, South Korea, Malaysia, and Taiwan.

Moreover, China, Japan, and India were held the 1st, 3rd, and 4th positions, respectively, in motor vehicle production, by producing together 42.7 million units in 2018. This large-scale manufacturing of automobiles in the region continue to result in high requirement for metal finishing of automotive components, thereby having a significant impact on the sale of these equipment in the region during forecast period.

Some of the major players operating in the global metal finishing equipment market are Atotech Deutschland GmbH, Plating Equipment Ltd., GARBOLI, Mass Finishing Incorporated, Rosler Oberflachentechnik GmbH, Jason Industries Inc., ClassOne Technology Inc., Dey Brothers & Company, Techno-Commerz - Hau-Klenner GmbH, OTEC Prazisionsfinish GmbH, and Nordson Corporation.

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This release was published on openPR.