Global Coating Equipment market outlook 2024, Forecast To 2033
26 Jan, 2024
The coating equipment market has experienced substantial growth, rising from $21.9 billion in 2023 to $23.66 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.0%. This growth is attributed to the expansion of the construction industry, increased demand for paints and coatings, industrial manufacturing, regulatory compliance, and heightened environmental concerns. Foreseen for strong growth in the coming years, the market size is projected to reach $32.58 billion in 2028, with a CAGR of 8.3%. Growth in the forecast period is associated with the increased semiconductor industry, infrastructure development, the automotive industry, rapid urbanization, and emerging market growth. Key trends include industry 4.0 integration, high-performance coatings, powder coating technology, adaptive coating technologies, and the introduction of customizable coating solutions.
Global Coating Equipment Market Key Driver
The coating equipment market is poised for growth propelled by the increasing demand for electric vehicles (EVs). EVs, powered by electricity, are gaining momentum globally due to minimal operating expenses and eco-friendly features. Coatings play a crucial role in protecting EV substrates, reducing rust, and enhancing aesthetics. The International Energy Agency reported in July 2023 that global electric car sales surpassed 10 million in 2022, constituting 14% of total sales. The upward trajectory is expected to continue, with an estimated 14 million EV sales by the end of 2023, thereby driving the coating equipment market.
Get A Free Sample Of The Global Coating Equipment Market ReportGlobal Coating Equipment Market Segments
The global 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
Major Coating Equipment Industry Players
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
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Coating Equipment Market Overview
The coating equipment is used for the application of the coating to a substrate. Coating equipment is used to coat machines, tools, instruments, and other items or articles that are intended for specific functions, services, purposes, or activities in order to protect them from corrosion or degradation and to extend their life span with lower maintenance and part replacement costs.
Coating Equipment Global Market Report 2023 provides data on the global coating equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The coating equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.