A new report, Global “Thermal Sprays Equipment Market” provides an overview of recent factors enabling growth in the global Thermal Sprays Equipment industry. According to the report, recent innovations have created several growth opportunities for prevailing companies as well as newer market entrants. Global Thermal Sprays Equipment Market Research Reports provides information regarding market trends, competitive landscape, market analysis, cost structure, capacity, revenue, gross profit, business distribution and forecast 2024.
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The global thermal spray equipment market is expected to grow at a CAGR of over 6% during the forecast period of 2019–2024. The major factors driving the market studied include expanding automotive manufacturing sector in Asia-Pacific region and the rising popularity of thermal spray ceramic coatings. Emergence of hard trivalent chrome coatings is expected to significantly hinder the growth of the market studied.
- Aerospace industry is expected to dominate the global market during the forecast period.
- Replacement of hard chrome coatings is likely to act as opportunities in the future.
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Key Market Trends
Growing Demand from Aerospace Industry
- Thermal sprays equipment are largely employed for several purposes in jet engines components, such as crankshafts, piston rings, cylinders, valves, and so on.
- In addition to these, they are also applied in the coating of landing gear, in order to withstand the forces during landing and take-off.
- Thermal spray coatings systems are used for coating purposes in rocket combustion chambers, compressor air seals, and high-pressure nozzles, respectively.
- Coatings of chromium cobalt, aluminum oxide, and chromium carbide are employed in turbine air seals, fuel nozzles, and turbine vanes, respectively.
- Boeing led the aerospace industry in adapting and implementing the use of thermal spray equipment as an alternative for hard chromium plating on numerous structural components.
- All in all, there is a promising growth for the demand of thermal spray equipment in the aerospace industry, over the forecast period.
China to Dominate the Demand in Asia-Pacific Region
- The thermal spray equipment market in China is experiencing healthy growth, mirroring the manufacturing section of aerospace and automotive industry of the country.
- China is one of the largest producers of steel, and steel mills use thermal spray coatings for protection. In the steel industry, mainly coatings of processing rolls by HVOF, spray fusing, plasma spraying, and plasma-transferred arc overlaying welding are used.
- The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world’s largest single‐country market for civil aircraft sales in the next 20 years.
- According to the International Trade Administration, Boeing estimates that China will need to add more than 6,000 planes to its commercial fleet to meet the traffic demand.
- China has the second largest domestic aviation market in the world. It also has the world’s fastest growing domestic aviation industry, with passenger traffic increasing at the rate of 6.6% per year.
- Therefore, the demand for thermal spray equipment is expected to increase significantly in the country in the upcoming years.
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The global thermal spray equipment market is fragmented in nature. The major players of the market studied include, Oerlikon, Praxair S.T. Technology, Inc., Saint-Gobain, and Donaldson Company Inc. amongst others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
Some Points from TOC:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Market is changing rapidly with the ongoing expansion of the industry. Advancement in the technology has provided today’s businesses with multifaceted advantages result in daily economic shifts. Thus, it is very important for a company to comprehend the patterns of the market movements in order to strategize better. An efficient strategy offers the companies with a head start in planning and an edge over the competitors. Industry Research is the credible source for gaining the market reports that will provide you with the lead your business needs.
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