Global Industrial Coating Equipment Market 2019-2023
About Industrial Coating Equipment
Industrial coating equipment includes devices such as booths, spray guns, dust collection systems, powder feeders, control units.
Technavio’s analysts forecast the global industrial coating equipment market to grow at a CAGR of 4.10% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial coating equipment market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of industrial coating equipment in different end- uses
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Coating Equipment Market 2019-2023
Technavio recognizes the following companies as the key players in the global industrial coating equipment market: Graco, IHI Corporation (IHI Ionbond), Nihon Parkerizing, Nordson Corporation, Oerlikon Group, Praxair Technology.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising adoption of automated coating systems. The use of an automated system is expected to be more prominent among large-scale end-users compared with small-and-medium-sized enterprises.
According to the report, one of the major drivers for this market is the recovery of oil and gas industry. Coating are highly essential in the oil and gas industry. Equipment used in all stages of the oil gas value chain such as exploration, production, transportation, storage, and refining require to be coated.
Further, the report states that one of the major factors hindering the growth of this market is the reducing demand for solvent- based coatings. Solvent- based coatings will remain significant in industrial applications, the increasing environment- related regulations and improvements in water- based coating will increase the latter’s use in industries. Such factors will pose challenge to the market.
IHI Corporation (IHI Ionbond)