USD 17.15 billion
Coating Equipment Market Size, Share, Growth Analysis, By Type(Liquid Coating Equipment and Powder Coating Equipment), By Application(Automotive, Aerospace, and Construction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2224 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
61
|Figures:
75
Coating Equipment Market Insights
Coating Equipment Market size was valued at USD 17.15 billion in 2022 and is poised to grow from USD 18.08 billion in 2023 to USD 27.53 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
The global market for coating equipment is anticipated to witness growth, driven by increasing product demand across various sectors including aerospace, automotive, and construction. The industry experienced a significant decline due to the impact of COVID-19 restrictions, leading to a sharp decrease in coatings demand. The revival of the market was contingent upon the relaxation of stringent stay-at-home regulations by governments, allowing economies to regain stability. A key factor propelling market growth is the substantial rise in global demand for electric vehicles. Coatings play a vital role in protecting the surfaces of electric cars from rust damage while enhancing their appearance and quality. Consequently, the growing demand for coated electronic devices in electric vehicles is expected to bolster market expansion. Governments worldwide are implementing several initiatives aligned with technological advancements to promote electric-powered vehicles. These initiatives include subsidies such as incentives for installing charging stations and budget allocations for improving electrical battery generation to address climate change concerns. However, the adoption of high-end coating equipment is not economically viable due to their limited capacity and specific applications. The cost of equipment emerges as a critical factor influencing the selection of coating methods and materials. Consequently, the availability of low-cost alternatives like brushes and rollers restricts market growth in certain applications and is projected to hinder market expansion throughout the forecast period.
US Coating Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Liquid Coating Equipment
Fastest Growth
Powder Coating Equipment
Growth Rate
5.4% CAGR
Global Coating Equipment Market ($ Bn)
Country Share for North America Region (%)
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Coating Equipment Market Segmental Analysis
Global Coating Equipment Market is segmented by type, application, and region. Based on type, the market can be segmented into liquid coating equipment and powder coating equipment. Based on application, the market is segmented into automotive, aerospace, and construction. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Coating Equipment Market Analysis by Type
By type, the market can be segmented into liquid coating equipment, and powder coating equipment. The liquid coating equipment segment holds a dominant position due to its wide range of applications and established usage across various industries. Liquid coating equipment is extensively used in industries such as automotive, aerospace, construction, industrial, and packaging. This segment includes equipment such as spray guns, paint booths, circulating systems, and electrostatic coating equipment.
The powder coating equipment segment is the fastest growing segment in the coating equipment market. Powder coating has gained popularity in recent years due to its environmental advantages, durability, and cost-effectiveness. Powder coatings do not contain solvents, making them an environmentally friendly option compared to liquid coatings. Additionally, powder coatings offer superior resistance to chipping, scratching, and fading, resulting in long-lasting finishes.
Coating Equipment Market Analysis by Application
By application, the market can be segmented into automotive, aerospace, and construction. The automotive industry holds a dominant position in the coating equipment market due to its high demand for coating applications. Automotive manufacturers extensively use coating equipment for painting cars, trucks, and various automotive parts. The automotive sector requires advanced coating equipment to achieve high-quality finishes, corrosion protection, and aesthetic appeal. The dominant position of the automotive segment is driven by the large volume of vehicles produced globally and the need for consistent and efficient coating processes.
The fastest growing segment in the coating equipment market is the construction industry. The construction sector has been witnessing substantial growth, driven by infrastructure development, urbanization, and rising construction activities across the globe. Coating equipment plays a crucial role in the construction industry for coating building materials, architectural components, and infrastructure. The increasing focus on enhancing the durability, aesthetics, and longevity of construction projects contributes to the rapid growth of the coating equipment market in the construction segment.
Global Coating Equipment Market By Type
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Coating Equipment Market Regional Insights
North America dominated the global coating equipment market. The region's dominance can be attributed to several factors. Firstly, the presence of well-established aerospace and automotive industries in countries like the United States and Canada drives the demand for coating equipment. These industries require advanced coating solutions for surface protection, aesthetic appeal, and improved performance of their products.
Asia Pacific is the fastest growing region in the global coating equipment market. The region's rapid growth can be attributed to several factors. Firstly, the booming automotive and construction industries in countries like China, India, and Japan are driving the demand for coating equipment. These industries require advanced coating solutions for various applications such as automotive parts, buildings, and infrastructure.
Global Coating Equipment Market By Region
- Largest
- Fastest
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Coating Equipment Market Dynamics
Coating Equipment Market Drivers
Increasing emphasis on sustainability and environmental regulations
- One significant driver in the global coating equipment market is the increasing emphasis on sustainability and environmental regulations. With growing awareness of the adverse environmental impacts of traditional coating methods, there is a shift towards eco-friendly and low-VOC (volatile organic compound) coatings. This shift is driving the demand for advanced coating equipment that enables efficient application of environmentally friendly coatings. Manufacturers are investing in innovative technologies and equipment that support sustainable coating practices, catering to the evolving preferences of consumers and regulatory requirements.
Coating Equipment Market Restraints
Availability of low-cost alternatives
- A key restraint in the global coating equipment market is the availability of low-cost alternatives such as brushes and rollers. While high-end coating equipment offers advanced features and specific applications, its adoption is limited due to its higher cost and lower capacity compared to traditional methods. This affordability factor leads to the continued use of conventional coating tools, particularly in certain applications where precision and specialized equipment are not deemed essential. The presence of low-cost alternatives hampers the market growth of coating equipment, particularly in price-sensitive segments, and poses a challenge for manufacturers to differentiate their products and justify the higher investment.
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Coating Equipment Market Competitive Landscape
The global coating equipment market is characterized by a mix of established players, emerging companies, and regional manufacturers. Market competition revolves around factors such as technological advancements, product innovation, pricing strategies, and customer service. Companies are investing in research and development activities to introduce advanced coating equipment with enhanced performance and efficiency. Additionally, partnerships, collaborations, and strategic acquisitions are common strategies employed by market players to expand their geographical presence, strengthen their product portfolio, and gain a competitive edge in the market.
Coating Equipment Market Top Player’s Company Profiles
- Graco Inc. (US)
- Nordson Corporation (US)
- SATA GmbH & Co. KG (Germany)
- Anest Iwata Corporation (Japan)
- Gema Switzerland GmbH (Switzerland)
- Kremlin Rexson (France)
- Wagner Group GmbH (Germany)
- WIWA Wilhelm Wagner GmbH & Co. KG (Germany)
- Eisenmann SE (Germany)
- EXEL Industries (France)
- FANUC Corporation (Japan)
- Fuji Spray (Canada)
- Illinois Tool Works Inc. (US)
- C. O. Nordström & Son AB (Sweden)
- SAMES KREMLIN (France)
- ITW Ransburg (US)
- DeVilbiss (US)
- WIWA LP (US)
- Ecco Finishing (Denmark)
Coating Equipment Market Recent Developments
-
In February 2024, Nikon Paint India (Decorative) launched the 2024 to 2025 color vision book at an event in Bangalore, Outdoor Connections. This project is a collaboration between Nippon Paint and Doctor Kostov Sengupta, a color expert from NIFT. Doctor Sengupta also works as a color consultant for Nippon Paint India.
-
In February 2024, INEOS Automotive and BASF’s Coatings division agreed to collaborate globally on automotive refinish body and paint development. This partnership will surpass the industry standard in vehicle body repair and paint refinishing. It includes providing sustainable refinish solutions, expertise, the latest digital color-matching solutions, and training.
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In January 2024, Navis TubeTex revealed a strategic partnership with Fibroline to improve dry impregnation solutions.
Coating Equipment Key Market Trends
- One key market trend in the coating equipment industry is the growing adoption of automated and robotic coating systems. Automation technologies offer several advantages such as increased efficiency, precise application, reduced material waste, and improved worker safety. Manufacturers are investing in advanced robotic systems equipped with sensors, artificial intelligence, and machine learning capabilities to enhance coating processes. The integration of automation in coating equipment enables higher productivity, consistency in quality, and faster turnaround times. This trend is driven by the need for cost-effective and efficient coating solutions, especially in industries like automotive, aerospace, and electronics.
Coating Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global coating equipment market analysis, the market is poised for growth driven by factors such as increasing demand across various industries, including aerospace, automotive, and construction. The market experienced a slump due to the impact of COVID-19, but the revival is expected with the relaxation of stringent regulations. The rising global demand for electric cars acts as a primary driver, as coatings play a vital role in surface protection and aesthetics. Government initiatives promoting electric vehicles and the shift towards sustainable coatings further contribute to market expansion. However, the availability of low-cost alternatives and the cost of high-end equipment pose challenges to market growth. Automation and robotics emerge as a key trend, enabling efficient and precise coating applications.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.15 billion |
| Market size value in 2031 | USD 27.53 billion |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Coating Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Coating Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Coating Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coating Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coating Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coating Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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