Press release
Coating Equipment Market Demand, Growth Prediction, Segments And Outlook By 2033
Coating Equipment Market
As per the report, the coating equipment market size has grown strongly in recent years. It will grow from $21.9 billion in 2023 to $23.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The coating equipment market size is expected to see strong growth in the next few years. It will grow to $32.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
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Increased Demand For Electric Vehicles Driving Coating Equipment Market Growth
The growth in demand for electric vehicles will drive the growth of the coating equipment market going forward. Electric vehicles are those that are powered entirely or partially by electricity. Electric vehicles have minimal operating expenses since they have fewer moving parts to maintain, and they are also very eco-friendly because they consume little or no fossil fuels (petrol or diesel). Coatings are essential in keeping the substrates of electric vehicles and their components free of rust and other damage. It also has a big impact on the aesthetics of electric vehicles. For instance, in July 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car markets were seeing exponential growth as sales exceeded 10 million in 2022. The share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022. Moreover, it is expected to see 14 million electric vehicle sales by the end of 2023. Therefore, the increase in demand for electric vehicles propels the coating equipment market growth.
Strategic Agreements Enhancing Coating Equipment Market
The strategic agreements between coating equipment manufacturers and end-use industry players have emerged as a major trend impacting the market. Major companies operating in the coating equipment sector are focused on strategic agreements to strengthen their position. For instance, in October 2021, Nordson Michelman, Inc., a US-based developer and manufacturer of materials for industrial manufacturing, coatings, printing, and packaging, partnered with CMS Industrial Technologies, LLC, a US-based manufacturer of industrial and converting equipment. With the partnership, the companies intended to develop Michelman's coating machinery, including slide-angle testers, blade coaters, spray coaters, and rod and press rod coaters. Moreover, in October 2021, Michelman, a US-based chemical company, formed a partnership with CMS Industrial Technologies LLC, a US-based equipment supplier, to manufacture coating equipment such as rod coaters, press rod coaters, blade coaters, spray coaters, and slide-angle testers. CMS will also provide engineering, replacement parts, and support.
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
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Major companies operating in the coating equipment 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
Contents of the report:
1. Executive Summary
2. Coating Equipment Market Report Structure
3. Coating Equipment Market Trends And Strategies
4. Coating Equipment Market - Macro Economic Scenario
5. Coating Equipment Market Size And Growth
…..
27. Coating Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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