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(Transportation-News.com, October 19, 2023 ) The report "Coating Equipment Market by Type (Powder coating equipment, Liquid coating equipment, Specialty coating equipment), End-use Industry(Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure), and Region - Global Forecast to 2026", size is estimated to be USD 18.9 Billion in 2021 and is projected to reach USD 24.7 Billion by 2026, at a CAGR of 5.6%. The emerging demand for electric vehicle have increased the demand across the globe that support the market growth. Moreover, the significant growth of the construction and automobile industry in developing countries are driving the coating equipment market.
Browse in-depth TOC on "Coating Equipment Market”
199 - Market Data Tables
48 - Figures
213 - Pages
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Specialty coating equipment accounted for the largest share in 2020
In 2020, the specialty coating equipment segment accounted for the largest share of the overall coating equipment market. . The growing specialty coating market is driving the demand for coating equipment. Oerlikon and IHI group are the leading players in the specialty coating equipment market.
Industrial end-use industry accounted for the largest share in 2020
Coating equipment are used in the application of coatings of machines, tools, and equipment used in the Industrial end-user industry. In the power generation industry, oil & gas industry, and consumer appliances industry. Rapid industrialization and development of new manufacturing facilities are expected to increase the demand for coating equipment, globally. PVD and CVD coatings are preferred for coating metal components and moving parts.
APAC is projected to account for the largest share of the Coating Equipment market during the forecast period
APAC is estimated to be the largest market for Coating Equipment and is projected to reach USD 8,474.9 Million by 2026. The market in the region is primarily driven by the rising demand for building and infrastructure, industrial and automotive industry.
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Coating Equipment Market Key Players
The demand for coating equipment is mainly catered by global players manufacturing automobiles. IHI Corporation (Japan), Nordson Corporation (U.S.), OC Oerlikon Management AG (Switzerland), SATA GmbH & Co. KG (Germany), Graco Inc. (U.S.), ANEST IWATA Corporation (Japan), ASAHI Sunac Corporation (Japan), and WIWA Wilhelm Wagner GmbH (Germany), are the key players operating in the coating equipment market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the coating equipment market.
Owing to the COVID-19 pandemic, there has been a mixed impact on the coating equipment market across the globe. Various industries such as automotive & transportation and building & infrastructure, have witnessed a significant slump.
Most European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in overall specialty coating equipment market. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing the supply-demand gap in the supply chain and led to a sharp spike in raw material prices. However, during the pandemic period, the growing demand from the electric vehicle supports to offset the marginal decline in demand caused due to the slowdown in the manufacturing sector across the globe.
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OC Oerlikon (Switzerland) has also been actively participating in market developments. The company has also expanded its manufacturing facilities to cater to the growing demand for coating equipment. In September 2018, it opened its second production center in Ve¾ká Ida, Slovakia. The new plant made Ve¾ká Ida, the most important site for coating and heat treating of automotive components. In April 2018, it opened its largest coating center for tools in Germany. This expansion strengthens its business in the German market. The company has more than 100 coating centers in the world.
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