Booming Automobile Industry Driving Expansion of Global Metal Finishing Equipment Market

May 06 21:35 2021
Booming Automobile Industry Driving Expansion of Global Metal Finishing Equipment Market
The metal finishing equipment market is predicted to progress at a CAGR of 4.2% from 2020 and 2030 by P&S Intelligence.

With the expansion of the automotive industry, the demand for metal finishing equipment is surging sharply across the world. The ballooning sales of automobiles, especially in the emerging economies such as India, Mexico, Indonesia, and China, is one of the major factors responsible for the boom in the automotive industry. Metal finishing equipment are heavily used for protecting automotive components such as power steering systems, under-the-hood components, and air conditioning components from corrosion.

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In various countries such as India and China, the increasing income levels and the surging disposable income of people are pushing up the sales of jewelry and consumer electronics. As metal finishing is required during the several manufacturing stages of these products, the mushrooming sales of these products are massively boosting the demand for metal finishing equipment across the world. This is, in turn, driving the progress of the global metal finishing equipment market.

As a result, the valuation of the market for metal finishing equipment is predicted to grow from $13,845.6 million in 2019 to $19,554.7 million by 2030. Furthermore, the market is predicted to advance at a CAGR of 4.2% between 2020 and 2030. Depending on process, the market is categorized into electropolishing, coating, conversion, galvanizing, electroplating, anodizing, electroless plating, cladding, and vibratory/mass finishing. Out of these, the electroplating category recorded the highest growth in the metal finishing equipment market during the last few years.

This was because of the large-scale usage of the electroplating process in the electronics, metal fabrication, aerospace, and automotive industries. Across the globe, the metal finishing equipment market will demonstrate the fastest growth in the Asia-Pacific region in the future years, as per the estimates of the market research company, P&S Intelligence. This will be because of the soaring investments being made by various multinational companies in the industrial sector in the region.

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Hence, it can be said with full surety that the demand for metal finishing equipment will skyrocket all over the world in the coming years, mainly because of its growing adoption in the aerospace, automotive, and consumer electronics industries.

Market Size Breakdown by Segment

By Process

  • Galvanizing
  • Anodizing
  • Electropolishing
  • Conversion Coating
  • Electroplating
  • Electroless Plating
  • Vibratory/Mass Finishing
  • Cladding              

By End User

  • Automotive
  • Construction
  • Industrial Equipment
  • Electrical and Electronics
  • Aerospace

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    •  Italy
    •  Spain
  • Asia-Pacific
    • China
    • Japan
    •  India
    •  South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

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Media Contact
Company Name: P&S Intelligence
Contact Person: Abhishek
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Phone: +918887787886
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State: UP
Country: India
Website: https://www.psmarketresearch.com/market-analysis/metal-finishing-equipment-market


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