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SAN FRANCISCO , Aug. 23, 2022 /PRNewswire/ -- The global coating equipment market size is expected to reach USD 25.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% from 2022 to 2030. The industry is expected to witness significant growth on account of high application scope coupled with growing consumption from the automotive application. COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact industry growth during the forecast period. COVID-19 has impacted consumer behavior, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments.
Key Industry Insights & Findings from the report:
Read 152-page market research report, "Coating Equipment Market Size, Share & Trends Analysis Report By Product (Specialty Coating Equipment, Powder Coating Equipment, Liquid Coating Equipment), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Coating Equipment Market Growth & Trends
Growing demand for coating equipment from various applications such as automotive, aerospace, construction, and industries is anticipated to provide positive scope for market growth over the forecast period. Rapid industrialization across the Asia Pacific is expected to further drive the product demand. Low fuel costs and comparatively cheap airfares are attracting new fliers and increasing flying frequency which in turn is driving the aerospace industry. Increasing research and development in the aviation and aerospace sector is further expected to drive the utilization of coating equipment.
Powder-based coatings are expected to witness growth due to their utilization in the automotive sector for body parts of the vehicle such as wheel rims and windshield. Moreover, powder-based coatings are environment friendly as these contain no solvents and hence no volatile organic compounds, which is expected to drive the market for coating equipment. The key players across the industry are involved with manufacturing a completely automated system as well as components such as hand sprays and trolleys to meet consumer demand. Mergers and acquisitions supported the companies to improve their technical expertise and enabled them to offer enhanced products to the consumers.
Grand View Research has segmented the global coating equipment market based on product, application, and region:
Coating Equipment Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
Coating Equipment Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
Coating Equipment Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in the Coating Equipment Market
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Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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