Increased Demand For Electric Vehicles Driving Coating Equipment Market Growth: Strengthening the Growth Trajectory of the Coating Equipment Market

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What Is the Expected CAGR for the Coating Equipment Market Through 2025?
The market size for coating equipment has experienced significant growth in the past few years. It is projected to increase from $23.51 billion in 2024 to $25.32 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. This expansion during the historical period is due to factors such as the growth of the construction industry, higher demand for paints and coatings, industrial manufacturing, more stringent regulatory compliance, and heightened environmental concerns.

What's the Projected Size of the Global Coating Equipment Market by 2029?
Expectations of a substantial expansion in the coating equipment market size over the upcoming years are high, with predictions of the market growing to $36 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 9.2%. Factors contributing to this forecasted growth period include the development of the semiconductor industry, infrastructure growth, the automotive industry, swift urbanization as well as emerging markets. The forecast period also showcases key market trends such as the integration of industry 4.0, advanced coating solutions, powder coating technologies, adaptive coating systems, and the onset of tailor-made coating solutions.

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Top Growth Drivers in the Coating Equipment Industry: What's Accelerating the Market?
The surge in popularity of electric vehicles is projected to fuel the expansion of the coating equipment market. These vehicles, which are either completely or partially run on electricity, are noted for their economical operational costs due to their reduced need for maintenance, given the fewer number of moving parts. Furthermore, they are incredibly environmentally friendly as their energy consumption does not involve or minimizes the use of conventional fuels such as petrol or diesel. Coating substances play an integral role in protecting the body of electric vehicles and their parts from rust and other forms of damage, as well as enhancing their cosmetic appeal. For example, data from the International Energy Agency, a French autonomous intergovernmental body, reported in July 2023 that electric car markets were on an exponential upward trajectory, with sales reaching over 10 million in 2022. The percentage of electric vehicle sales in comparison to total vehicle sales has seen a threefold increase in the span of three years, moving from around 4% in 2020 to 14% in 2022. The projections also show an expected 14 million sales in electric vehicles by the end of 2023. Consequently, this growing consumer preference for electric vehicles is serving as a driving force for the evolution of the coating equipment market.

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What Trends Will Shape the Coating Equipment Market Through 2029 and Beyond?
Companies at the forefront of the coating equipment market are emphasizing the creation of technologically advanced tools such as tablet coaters to escalate efficiency, minimize environmental damage and boost the quality of various coatings. Used in the pharmaceutical sector, a tablet coater provides tablets with both functionality and protection, whilst improving their outward appearance, stability, and release traits. For example, ACG Engineering, an American pharmaceutical solution integrator, unveiled the SMARTCOATER X ONE series in November 2023. The SMARTCOATER X ONE is designed to expedite tablet coating with a focus on process speed, efficiency, and user-friendly operations. A standout design element is its innovative baffle, enabling it to process fastest for batches ranging from 10% to 100%. It features a distinctive airflow pattern for optimal drying, a completely perforated coating drum, dust-free closed charging, integrated discharge baffles, active purging temperature sensor, a high-performing spray arm, and a 2.0 spray nozzle with an anti-bearding cap. It also comprises ACG's X ONE command and control system, ensuring adherence to cGMP standards.

What Are the Main Segments in the Coating Equipment Market?
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, Industrial, Building And Construction, Marine, Electricals And Electronics, Other End Users

Subsegments:
1) By Powder Coating Equipment: Electrostatic Powder Coating Equipment, Fluidized Bed Powder Coating Equipment, Powder Coating Ovens
2) By Liquid Coating Equipment: Spray Coating Equipment, Dip Coating Equipment, Roll Coating Equipment
3) By Specialty Coating Equipment: Conformal Coating Equipment, Coil Coating Equipment, Vacuum Coating Equipment

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Which Top Companies are Driving Growth in the Coating Equipment Market?
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

Which Regions Will Dominate the Coating Equipment Market Through 2029?
Asia-Pacific was the largest region in the coating equipment market in 2024. North America was the second-largest market in the coating equipment market share. The regions covered in the coating equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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