Metal Finishing Equipment Market Segments Analysis, Future Opportunity, Current Challenges, And Industry Forecast to 2030

With the mushrooming sales of automobiles, especially in emerging economies such as India, Mexico, Indonesia, and China, the automotive industry is exhibiting huge expansion, which is pushing up the demand for metal finishing equipment and solutions. This is because metal finishing solutions are required for improving the life of automobile components and systems, such as power steering systems, under-the-hood components, brake parts, air conditioning components, fuel systems, and chassis hardware, as they are highly vulnerable to corrosion because of snow and rain and this can eventually cause their premature failure.

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Likewise, the manufacturing of aircrafts and their components are governed by various critical parameters, out of which, quality is the most essential. These parts are required to be incredibly reliable in nature, as their failure can cause the loss of human life and capital. Due to this reason, many international aviation safety organizations are making metal finishing necessary for aerospace components. The use of titanium alloy-based plating and titanium is one of the most commonly used metal finishing techniques for aerospace parts and components.

Besides the aforementioned factors, the surging sales of jewelry and consumer electronics, on account of the growing disposable income of people, are also positively impacting the advancement of the metal finishing equipment market. As a result, the value of the market is predicted to grow from $13,845.6 million in 2019 to $19,554.7 million by 2030, while the market is expected to progress at a CAGR of 4.2% from 2020 to 2030.

Over the last few decades, developing countries, such as India and China, have witnessed sharp economic growth, which has been characterized by the surging income levels of people and the growth of the middle-class population. This has subsequently propelled the demand for consumer electronic products and jewelry. As metal finishing is required in these products, their soaring sales are fueling the requirement for metal finishing equipment and solutions. Depending on process, the metal finishing equipment market is categorized into anodizing, conversion coating, electropolishing, galvanizing, electroless plating, electroplating, cladding, and vibratory/mass finishing.

Amongst these, the electroplating category dominated the market in 2019, on account of the extensive adoption of this process in the aerospace, electronics, metal fabrication, and automotive industries. Automotive, industrial equipment, construction, aerospace, and electrical and electronics sectors are the major end users of metal finishing equipment. Out of these, the usage of metal finishing equipment is predicted to rise at the fastest pace in the automotive sector in the forthcoming years.

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This will be because of the soaring requirement for large and small parts of vehicles to be stress-relieved, defect- and blur-free, and smooth. Globally, the Asia-Pacific (APAC) region will be the fastest growing region in the metal finishing equipment market in the coming years, as per the estimates of the market research firm, P&S Intelligence. This is attributed to the surging investments being made in the industrial sector by several multinational companies in the region.

Hence, the demand for metal finishing equipment will surge sharply in the upcoming years, mainly because of the soaring sales of automobiles, expansion of the aerospace industry, and the ballooning usage of consumer electronic products.

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.