Persistence Market Research analyzes the global powder coating equipment market over an eight-year period, 2016-2024. According to a recent report outlook titled “Powder Coating Equipment Market: Global Industry Analysis and Forecast, 2016 – 2024,” the US$ 2,127.7 Mn market for powder coating equipment is likely to expand moderately over the forecast period, reaching a value of US$ 3,275.2 Mn by 2024 end.
Key Driver Insights
- The consumption of powder coating equipment will possibly increase by 1.6X through the aforementioned period, attributed to soaring adoption by end-use industries.
- Although the market is expected to face extremely high competition from other surface treatment technologies, stringent favorable regulations will continue to sustain the sales in near future.
- Increasing preference for powder coating technique as a superior, economic, viable, operationally and functionally effective technology is identified to be the key factor fueling the demand for powder coating equipment over the next few years.
- In addition to surging adoption by various industries, prominent consumption by general metal and automotive manufacturing sectors will remain the crucial factors escalating the sales.
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Key Trend & Opportunity Insights
- Soaring demand for automated powder coating systems for batch manufacturing is a growing trend.
- Increasing demand by architectural and furniture businesses will also push the sales.
- The market is likely to benefit from the introduction of color-handling solution to encompass a diverse range of commercial applications.
- Launch of vertical recirpocator units will also hold a positive influence on market growth.
- Adoption of MDF material for applications in furniture industry within developing Asian and Middle Eastern and African markets will create a slew of opportunities through 2024.
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Key Component Insights
By component, booths and system segment will remain dominant, accounting for over 38% share of the total revenues in 2024, followed by gun and oven segments. Booths and system segment will reportedly witness a relatively higher CAGR over 2016-2024. Within this segment, automatic sub-segment is likely to remain dominant but manual sub-segment will witness higher growth through 2024.
Key Application Insights
Based on application, general metal will continue to lead in terms of consumption, capturing a revenue share of more than 33% in 2024, witnessing a gain by 460 BPS over the forecast period. Automotive will continue to represent the second largest segment with over 15% market value share in 2024. Others, appliances, and agriculture and construction will be the next key application segments; however, the fastest growth will be seen in the general metal segment.
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Company Profiles
- Nordson Corporation.
- Gema Switzerland GmbH
- Sames Technolgies
- J. Wagner GmbH
- Parker Ionics
- MS Oberflächentechnik AG
- Asahi Sunac Corporation
- Koryo Coating Machine Industrial Co. Ltd.
- Mitsuba Systems (India) Pvt. Ltd.
- Hangzhou Color Powder Coating Equipment Co., Ltd
- Others
Key Region Insights
On the basis of regional analysis, with a gain of over 250 BPS during the assessment period, APAC will retain the top regional market position. This region will account for nearly 38% share of the total revenues in 2024. China, India, and ASEAN countries will remain the prominent markets within APAC. North America will also be a key market, followed by Europe.