According to a research report by Stratview Research, Coating Equipment Market is likely to witness an impressive CAGR of 5.8% during the forecast period. Increasing demand from various end-use industries, development of new coating applications, and growing interest towards development of advanced coating equipment, are the key driving forces fueling the market for coating equipment.
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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Segments' Analysis
Stratview Research has segmented the Coating Equipment Market by Type (Powder Coating, Liquid Coating, and Specialty Coating), by End-Use Industry Type (Automotive, Aerospace, Construction, Industrial, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Based on the type, the market is segmented as powder coating, liquid coating, and specialty coating. Specialty coating dominated the market in 2019, and is expected to maintain its dominance during the forecast period. Chemical vapor deposition, physical vapor deposition, plasma coating, and thermal sprays are among the key types included in the segment. There is a dramatic increase in the number of applications for specialty coating, which is fueling the demand for the segment.
Based on the end-use industry type, the coating equipment market is segmented as automotive, aerospace, construction, industrial, and others. The automotive industry is likely to offer sizeable opportunities in the market during the forecast period. There is a constant improvement in the manufacturing of automotive components in order to meet the growing need for delivering high-performance products that consistently meet the industry specification. Reliable performance, minimal maintenance requirements, optimum coating material utilization, and corrosion and UV-resistant coatings are some hot spot value additions provided by the use of efficient coating equipment in the industry.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing coating equipment market during the forecast period, with China, Japan, and India, being the key countries with lucrative growth opportunities. The region has a greater number of players and has comparatively high competition when compared to the developed western economies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
The following are the key players in the Coating Equipment Market -
· Asahi Sunac Corporation
· Carlisle Companies
· Exel Industries
· Graco Inc.
· IHI Corporation
· Nordson Corp.
· OC Oerlikon Corporation AG.
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