Press release
Vacuum Coating Equipment Market Soaring at 8% CAGR During the Period 2016-2024
Vacuum Coating Equipment Market is expected to be favorably influenced by the rapid growth of the consumer electronics, power generation, automotive, and aviation sectors. The ability of vacuum coating equipment to provide an aesthetic appearance, durability, and scratch-resistance will stimulate its demand from the consumer electronics sector, which is predicted to register significant gains of 4% during the period from 2016 to 2024. The rapid growth of this market will impel vacuum coating equipment industry over the years to come.
Vacuum Coating Equipment Market size will cross USD 47 billion by 2024 with gains at over 8% between 2016 and 2024; according to a new research report.
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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 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.
PVD coating accounted for significant share of around 39% in vacuum coating equipment market in 2015. It has an edge over traditional coating methods (electroplating and painting) of providing longer shelf life, bright colors, and scratch resistant surface to the product. It provides a coating to engine components that reduces friction and wear between the parts, resulting in better efficiency and performance of the engine.
Taking into consideration the regional trends, North America vacuum coating equipment industry is forecast to experience a prominent expansion over the next few years. The growth can be attributed to high usage of the equipment across the solar energy sector. U.S. vacuum coating equipment market is foreseen to contribute to a major portion of the regional revenue.
APAC vacuum coating equipment market, which contributed over 50% of the revenue in 2015, is predicted to boost the overall industry growth in the future subject to rising energy requirement and the huge presence of key smartphone manufacturers in the region. LATAM vacuum coating equipment industry size is forecast to observe a massive surge over the coming seven years, driven by escalating equipment demand for metallizing chip carriers and microelectronic circuits.
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 industry.
For more information on this report, please visit @ https://www.marketstudyreport.com/reports/vacuum-coating-equipment-market/?utm_source=RR&utm_medium=SK
Related Reports: -
Global Vacuum Coating Equipments Market Research Report 2017
In this report, the global Vacuum Coating Equipments market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 20...
https://www.marketstudyreport.com/reports/global-vacuum-coating-equipments-market-research-report-2017/?utm_source=RR&utm_medium=SK
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