The global coating equipment market is expected to reach USD 22.23 billion by 2025, according to a new report by Grand View Research, Inc. The industry is expected to witness significant growth on account of high application scope coupled with growing consumption from the automotive application.
Robust growth in the consumption owing to rising government spending, fast-growing population, and continued progress on infrastructure projects in Middle Eastern economies is likely to augment product utilization in the residential sector.Africa residential sector is expected to witness growth on account of increasing foreign direct investments and rising consumer’s willingness to spend.
Governments of Middle East have framed favourable policies to promote investments in the automotive sector. In addition, expansion of road networks along with urban population growth has played a crucial role in increasing sales of automotive vehicles in Middle East countries such as Saudi Arabia and United Arab Emirates.
The global coating equipment market is expected to witness significant competitive rivalry due to the presence of numerous players across the industry. As a result of changing consumer trend, various companies are launching new products to expand their product offerings and put up with the competition in the market.
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https://www.grandviewresearch.com/industry-analysis/coating-equipment-market
Further key findings from the report suggest:
- Powder coating equipment accounted for a share of 38.7% of global market revenue in 2016 owing to low cost as compared to specialty coatings
- Powder coating equipment has the ability to produce thin films which are utilized by aerospace and automotive industry due to their lightweight
- Development and utilization of machinery in agriculture sector has witnessed significant growth globally which is anticipated to provide positive scope for product demand as the machinery typically requires coating
- South Korea is expected to show high growth in the construction industry owing to private and public investments in commercial, industrial, and infrastructure projects
- Key players in the industry perform distribution directly to the end user rather than distributing the product through third party sources. Wide distribution channel in the market is achieved through both physical retail stores and online retailing.
- In March 2017, Oerlikon acquired novel technologies which enabled the company to strengthen its business position in coatings & equipment market
- In December 2016, Sata GmbH & Co.Kg introduced Satajet 4800 K spray mix to serve high pressure applications
Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-coating-equipment-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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