The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Coating Equipment Global Market Report 2023, the coating equipment market is expected to show significant growth in the forecast period.

The global coating equipment market has witnessed an impressive surge, expanding from $20.44 billion in 2022 to $22.29 billion in 2023, marked by a robust Compound Annual Growth Rate (CAGR) of 9.0%. The trajectory doesn’t end here; projections anticipate a climb to $29.33 billion by 2027, sustaining a CAGR of 7.1%. At the heart of this growth is the escalating demand for electric vehicles (EVs).

• Rising Electric Vehicle Demand:
  • EVs, known for minimal operating expenses and eco-friendliness, are steering the coating equipment market’s growth.
  • Coatings play a vital role in preserving EV substrates, protecting them from rust and enhancing their aesthetics.
  • In 2020, the global electric car stock reached 10 million units, witnessing a staggering 43% growth from 2019.

Industry Giants: Key Players Paving the Way
Major players hold sway in the coating equipment market, contributing significantly to its dynamics. Companies like IHI Corporation, Nordson Corporation, and OC Oerlikon Management AG are instrumental in shaping the industry landscape.

• Dominant Market Players:
  • IHI Corporation, Nordson Corporation, OC Oerlikon Management AG, SATA GmbH & Co. KG, and others lead the sector.
  • Their strategic roles are pivotal in propelling the coating equipment market forward.

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Strategic Alliances: A Trend Shaping the Future
A noteworthy trend in the coating equipment sector is the strategic agreements between manufacturers and end-use industry players. These alliances bolster companies’ positions and foster innovation. One such example is the collaboration between Nordson Michelman, Inc., and CMS Industrial Technologies, LLC.

• Strategic Agreements Overview:
  • Nordson Michelman, Inc., partnered with CMS Industrial Technologies, LLC, to enhance Michelman’s coating machinery, including various coating equipment types.
  • These agreements not only drive innovation but also pave the way for expanded engineering support.

Market Segmentation: Navigating the Diversity
Diving deeper into the coating equipment market reveals a diverse landscape characterized by different coating types, material types, applications, and end-use industries.

• Segmentation Overview:
  • By Coating Type:
    • Powder Coating Equipment
    • Liquid Coating Equipment
    • Specialty Coating Equipment
  • By Material Type:
    • Polyester
    • Polyurethane
    • Acrylic
    • PVC
    • Epoxy
    • Silicon
  • By Application:
    • Brushed, Dipped, or Sprayed
    • Diffusion
    • Laser Processing
    • Plating
    • Thermal Spray
    • Vapor Deposition
  • By End Use Industry:
    • Automotive
    • Medical
    • Aerospace
    • Industrial
    • Building and Construction
    • Marine
    • Electrical and Electronics
    • Other End Users

Regional Dynamics: Asia-Pacific Takes the Lead
In 2022, Asia-Pacific emerged as the frontrunner in the coating equipment market, showcasing the region’s pivotal role in shaping the industry’s present and future.

• Regional Influence:
  • Asia-Pacific’s prominence underscores the diverse and expanding nature of the coating equipment market.

Future Prospects: A Vision of Growth
Looking ahead, the coating equipment market is poised for sustained growth. Projections hint at a market size of $29.33 billion by 2027, affirming the influence of electric vehicle demand, strategic alliances, and the dynamic segmentation of the industry.

View More On The Coating Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/coating-equipment-global-market-report

The Coating Equipment Global Market Report 2023  provides an in-depth analysis on the coating equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the coating equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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