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Global Powder Coating Equipment Market Expected to be Worth US$ 3,500 Million by 2024
Market Research Reports Search Engine
, February 10, 2018 ) Market Research Reports Search Engine (MRRSE) analyzes the global
powder coating equipment
market in a new publication titled “Global Powder Coating Equipment Market: Global Industry Analysis and Forecast, 2016–2024”. The main objective of the report is to identify dynamics in the global powder coating equipment market and provide recent updates and insights affecting various segments of the global powder coating equipment market. The global powder coating equipment market was valued at more than US$ 2,000 Mn in 2015 and is projected to reach a market value of nearly US$ 3,500 Mn by 2024 registering a CAGR of 5.5% during the forecast period. The market is expected to sustain the value growth till 2022, after which the market is expected to expand at a relatively slow rate. The global powder coating equipment market is anticipated to create lucrative opportunities for equipment manufacturers and service providers during the forecast period, recording an incremental opportunity of nearly US$ 1,500 Mn from 2016 - 2024. The market is expected to witness extremely high competition from other surface treatment technologies; however with stringent regulations and escalating end-use industry adoption, sales of powder coating equipment are expected to witness sustainable growth.
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Global Powder Coating Equipment Market Analysis, By Application
General Metal segment to gain high market share during the forecast period
General Metal segment is expected to gain a high market share of 460 BPS to account for a dominant share of 33.5% by 2024 end. The Automotive segment is expected to account for a market share of 15.2% by 2024 end. The thriving market for automotive components is expected to boost sales of powder coating equipment during the forecast period with Asia Pacific spearheading the demand for guns and booths in the next eight years.
Agricultural and Construction machinery, Architectural, and Furniture segments are expected to witness similar Y-o-Y growth during the forecast period. However, the Furniture segment is expected to witness significant growth post 2020 owing to increasing adoption of MDF for mainstream application. Agricultural and Construction segment is expected to witness moderate growth throughout the forecast period; however with a recuperating global economy and sector growth, the increase in machinery production is expected to boost the value and volume sales.
General metal segment was estimated to be valued at nearly US$ 700 Mn by 2016 end and is projected to represent incremental dollar opportunity of nearly US$ 500 Mn between 2016 and 2024
The segment is slated to be valued at nearly US$ 1,200 Mn by 2024, registering a CAGR of 6.6% over 2016 - 2024
Agricultural and Construction
Agricultural and Construction segment was estimated to be valued at nearly US$ 300 Mn by 2016 end and is projected to represent incremental dollar opportunity of nearly US$ 100 Mn between 2016 and 2024
The segment is slated to be valued at nearly US$ 400 Mn by 2024, exhibiting a CAGR of 4.3% over 2016 - 2024
Appliances segment was estimated to be valued at nearly US$ 300 Mn by 2016 end and is projected to represent incremental dollar opportunity of nearly US$ 150 Mn between 2016 and 2024
The segment is slated to be valued at nearly US$ 450 Mn by 2024, registering a CAGR of 5.0% over 2016–2024
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Automotive segment was estimated to be valued at more than US$ 300 Mn by 2016 end and is projected to represent incremental dollar opportunity of nearly US$ 200 Mn between 2016 and 2024
The segment is slated to be valued at nearly US$ 500 Mn by 2024, exhibiting a CAGR of 6.2% over 2016–2024
Global Powder Coating Equipment Market BPS Analysis and Y-o-Y Growth, by Application
General Metal and Automotive segments are expected to be relatively lucrative and sustainable markets for suppliers and manufacturers
General Metal, Automotive, and Others segments represent an attractiveness index of 2.7, 1.2, and 1.0 respectively, indicating strong revenue opportunities and high value growth. However, the General Metal segment is anticipated to expand at a higher growth rate than the other segments. Also, with the proliferating demand for automotive components, the Automotive segment is projected to witness high value growth opportunity during the forecast period. The Appliance segment is expected to record a moderate growth rate with key revenue contribution from Asian economies such as China, Japan, India, and ASEAN. For Furniture, Architectural, Agricultural, and Construction segments, the increasing presence of emission regulations in markets such as North America and Europe have aided the shift towards powder coating. Also, with increasing significance of emission laws in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa, the market is expected to gain traction during 2020 and 2024.
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Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.
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