The global metal finishing equipment market is projected to reach $17,617.0 million by 2024, registering a CAGR of 4.9% during the forecast period. The demand for metal finishing equipment is primarily driven by the growing automotive and aerospace industries, owing to expanding middle-class population in emerging countries, which in result increasing the purchasing power of individual to go for personal vehicles and air travel, according to P&S Intelligence.
Recent advancements in metal finishing technologies are expected to boost the market in the forthcoming years by reducing the operational costs and making the metal finishing process more environmentally friendly. Few of these new technologies include laser cladding technique and hot-dip galvanization, which give resistance power to metal component from corrosion, tarnish, and wear and tear. These technologies coupled with manufacturing sector growth in several emerging countries such as China and India are expected to fuel the metal finishing equipment market during the forecast period.
Insights into market segments
Based on type, the metal finishing equipment market is classified into inorganic, organic, and hybrid metal finishing. Among all these types, inorganic metal finishing equipment category accounted for the largest market share in the world, owing to the fact that this type of equipment is widely used for metal finishing of automotive and aerospace components. Aerospace plating is widely carried over different aircraft components that ensures the protection of critical aerospace components. In addition, automotive manufacturers are using metal finishing process to protect the vehicle components from corrosion, and wear and tear, caused due to climatic conditions and regular usage of vehicles.
The inorganic metal finishing equipment market is further categorized into galvanization, vibratory/mass, anodizing, electropolishing, conversion coating, electroplating, electroless plating, cladding, and others. Among these, electroplating category accounted for the largest share in the market during the historical period. Electroplating provides protection against corrosion and premature failure of critical components in automotive, aerospace, metal fabrication, and electronics products. Thus, with high requirement of electroplating from varied industries, the demand for electroplating-based equipment is expected to rise during the forecast period.
Asia-Pacific (APAC) accounted for the largest demand for metal finishing equipment in 2018.
Among all regions, APAC generated the largest demand for metal finishing equipment, and held a market share of more than 55% in 2018. The demand is generating from its large-scale manufacturing sector comprises vast automotive industry in China, India, and Japan, along with advanced consumer electronics industry in China, Japan, South Korea, Malaysia, and Taiwan.
Moreover, China, Japan, and India were held the 1st, 3rd, and 4th positions, respectively, in motor vehicle production, by producing together 42.7 million units in 2018. This large-scale manufacturing of automobiles in the region continue to result in high requirement for metal finishing of automotive components, thereby having a significant impact on the sale of these equipment in the region during forecast period.
Browse report overview with 92 tables and 61 figures spread through 164 pages and detailed TOC on "Metal Finishing Equipment Market Research Report: By Type (Inorganic Metal Finishing, Organic Metal Finishing, Hybrid Metal Finishing), Regional Insight (U.S., Canada, U.K., Germany, France, Italy, Spain, China, Japan, India, South Korea, Brazil, Mexico, Saudi Arabia, South Africa) – Global Industry Size, Share Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/metal-finishing-equipment-market
Metal finishing equipment market competitive landscape
Some of the major players operating in the global metal finishing equipment market are Atotech Deutschland GmbH, Plating Equipment Ltd., GARBOLI, Mass Finishing Incorporated, Rosler Oberflachentechnik GmbH, Jason Industries Inc., ClassOne Technology Inc., Dey Brothers & Company, Techno-Commerz - Hau-Klenner GmbH, OTEC Prazisionsfinish GmbH, and Nordson Corporation.
The metal finishing equipment market is categorized by the presence of a large number of low-volume manufacturers, primarily concentrated in APAC countries such as India and China. These players are able to manufacture low-level specialized machines primary employed in processes such as vibratory and mass finishing, pre-treatment, and base metal surface cleaning, along with other auxiliary equipment, which serve in finishing lines.
GLOBAL METAL FINISHING EQUIPMENT MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by Geography