The global coating equipment market size is expected to grow from $18.38 billion in 2021 to $20.23 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global coating equipment market size is expected to reach $26.05 billion in 2026 at a CAGR of 6.5%.
What is the Global Coating Equipment Market?
The coating equipment market consists of sales of coating equipment by entities (organizations, sole traders, and partnerships) that are used for the application of the coating on 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 parts replacement costs.
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What drives the Global Coating Equipment Market?
The growing 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, according to International Energy Agency, the global electric car stock reached 10 million units in 2020, a 43% growth over 2019. In addition, China had the largest fleet, with 4.5 million electric vehicles, but Europe had the largest annual rise, reaching 3.2 million in 2020. Therefore, the increasing demand for electric vehicles propels the growth of the coating equipment market.
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Global Coating Equipment Market Segments
The global coating equipment market is segmented:
By Coating Type: Powder Coating Equipment, Liquid Coating Equipment, Specialty Coating Equipment
By Material Type: Polyester, Polyurethane, Acrylic, PVC, Epoxy, Silicon
By Application: Brushed, Dipped Or Sprayed, Diffusion, Laser Processing, Plating, Thermal Spray, Vapor Deposition
By End Use Industry: Automotive, Medical, Aerospace, Industial, Building And Construction, Marine, Electricals And Electronics, Other End Users
By Geography: The regions covered in the coating equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Coating Equipment Global Market Report 2022provides market size and growth forecasts for the global coating equipment market, global coating equipment market share, coating equipment global market segments and geographies, coating equipment global market competitive landscape including leading competitors’ revenues, profiles and market shares. The coating equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Coating Equipment Industry Playersinclude IHI Corporation, Nordson Corporation, OC Oerlikon Management AG, SATA GmbH & Co. KG, Graco Inc, ANEST IWATA Corporation, Bühler AG, ASAHI SUNAC CORPORATION, Wagner GmbH, Carlisle Companies, Exel Industries, PVD Products Inc, Miba AG, Semicore Equipment Inc, Guangdong HuiCheng Vacuum Technology Co.Ltd, Oxford Instruments, AJA INTERNATIONAL, Picosun Oy, CVD Equipment Corporation, ULVAC, T-M VACUUM PRODUCTS INC, Blösch AG, KOLZER SRL, Fujimi Corporation, Singulus Technologies AG, Gema USA Inc, and Axalta Coating Systems. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
