The improvement in coating equipment functionality is predicted to transform the coating equipment market in 2020. The industrial automation and equipment industry reports are produced by Market Research Future, which highlights market options for expansion. An income of USD 30 billion is likely to be gained by 2025, with the aid of a CAGR of 5.5% in the forecast period.
The demand from power, aerospace & defense, and oil & gas sector is anticipated to bolster the development of the coating equipment industry. The surge in industrial coating equipment demand is expected to prompt significant development of the coating equipment market in the impending period. The mounting call for replacement of present coating systems is likely to motivate the coating equipment market in the approaching period.
Segmental Analysis
The segmental evaluation of the coating equipment market is conducted based on industry vertical, type, and region. Based on the types, the coating equipment market has been segmented into powder, liquid, and specialty coating equipment. Based on the regions, the coating equipment market has been segmented into Asia-Pacific, North America, Europe, and the rest of the regions. Based on the industry verticals, the coating equipment market has been segmented into aerospace, industrial, automotive, construction, and others.
Detailed Regional Analysis
The regional assessment of the coating equipment market states that the Asia Pacific region is anticipated to show the way to the coating equipment market in terms of market portion for the duration of the forecast period. In the Asia-Pacific region, China controls the chief market share and is also expected to register the peak growth rate all through the forecast period. This development is due to the boost in demand from consumer goods and industrial products verticals. The North American region’s coating equipment market is likely to record reasonable growth in the forecast period. The factors such as escalating technological improvement in products and towering adoption of coating equipment in the vertical of the aerospace & defense sector have motivated the development in the regional market.
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The coating equipment market in the European region is anticipated to develop at an exceptional rate in the forecast period. The mounting demand for electric vehicles and the expansion in the automotive industry across the region are a few of the factors projected to push market augmentation in the region. Besides, the speedy urbanization is expected to boost the augmentation of the coating equipment market in the Middle East & Africa throughout the forecast period.
Competitive Analysis
The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period.
The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before. The market is in a state of flux due to the rapid and severe changes in the global economy. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future.
The prominent contenders in the coating equipment market are ASAHI SUNAC CORPORATION (Japan), Anest Iwata (Japan), Nordson Corporation (U.S.), Graco Inc. (U.S.), O.C. Oerlikon (Switzerland), Carlisle Companies (U.S.), IHI Ionbond AG (Switzerland), J. Wagner GmbH (Germany), SATA GmbH & Co. K.G. (Germany), and O.C. Oerlikon Management AG (Switzerland).
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