Coating Equipment Market worth $24.7 Billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 12, 2021 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the market 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.
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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.
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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.
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.
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