Overview and Scope
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.
Sizing and Forecast
The coating equipment market size has grown strongly in recent years. It will grow from <b>$21.9 billion in 2023 to $23.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. </b> The growth in the historic period can be attributed to construction industry growth, increased paints and coatings demand, industrial manufacturing, increased regulatory compliance, and increased environmental concerns.
The coating equipment market size is expected to see strong growth in the next few years. It will grow to <b>$32.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. </b> The growth in the forecast period can be attributed to increased semiconductor industry, infrastructure development, automotive industry, rapid urbanization, and emerging market growth. Major trends in the forecast period include industry 4.0 integration, high-performance coatings, powder coating technology, adaptive coating technologies, and introduction of customizable coating solutions.
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Segmentation & Regional Insights
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
<b>Asia-Pacific</b> was the largest region in the coating equipment market in 2023. <b>North America</b> 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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Major Driver Impacting 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.
Key Industry Players
Major companies operating in the coating equipment market include <b> 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 </b>
The coating equipment market report table of contents includes:
1. Executive Summary
2.Coating Equipment Market Characteristics
3.Coating Equipment Market Trends And Strategies
4.Coating Equipment Market analysis
5.Coating Equipment Market Size And Growth
6.Coating Equipment Segmentation
7.Coating Equipment Regional And Country Analysis
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27.Coating Equipment Competitive Landscape And Company Profiles
28.Coating Equipment Key Mergers And Acquisitions
29.Coating Equipment Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- IHI Corporation
- AJA INTERNATIONAL
- ANEST IWATA Corporation
- ASAHI SUNAC CORPORATION
- Axalta Coating Systems
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