“Global Commercial Metal Plating Equipment Market to reach a market value of USD 470.3 Million by 2031 growing at a CAGR of 4.1%”
The Global Commercial Metal Plating Equipment Market size is expected to reach $470.3 million by 2031, rising at a market growth of 4.1% CAGR during the forecast period.
Countries like China, India, Japan, and South Korea are at the forefront of this growth. China, in particular, is a major hub for manufacturing and has a vast automotive and electronics industry that relies heavily on metal plating. Thus, the Asia Pacific market acquired 39.6% revenue share in the market 2023. Similarly, Japan and South Korea, known for their advanced technology and electronics industries, play a crucial role in driving the market in the Asia Pacific region.
The incorporation of a protective coating that is able to survive corrosion, abrasion, and extreme environmental conditions is what makes metal plating so important for boosting the performance and longevity of a wide range of automotive components.
Additionally, Metal plating coatings are crucial for ensuring the safety, reliability, and performance of various aerospace components, including engines, landing gear, and structural parts. Commercial aviation is experiencing robust growth, driven by increasing global air travel demand. Therefore, the expansion of the aerospace sector is significantly boosting the demand for metal plating equipment.
However, setting up a metal plating facility involves purchasing advanced equipment, technology, and infrastructure, all of which demand considerable capital expenditure. For instance, state-of-the-art electroplating machines, automation systems, and quality control instruments are necessary to ensure high precision and efficiency in plating processes. Hence, the metal plating industry's substantial initial investment and high operational costs present significant challenges.
On the basis of end user, the market is classified into automotive, electronics, aerospace, and others. The electronics segment acquired 32.4% revenue share in the market in 2023. The rising demand for smartphones, tablets, laptops, and other consumer electronics has driven the need for advanced metal plating techniques to ensure high-quality finishes and enhanced durability of electronic components.
Based on equipment types, the market is characterized into electroplating systems, anodizing equipment, galvanizing lines, and others. The anodizing equipment segment procured 24.6% revenue share in the market in 2023. Anodizing is particularly important for aluminum components, enhancing their corrosion resistance, surface hardness, and ability to retain dyes for aesthetic purposes.
Free Valuable Insights: Global Commercial Metal Plating Equipment Market size to reach USD 470.3 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 30.2% revenue share in the market in 2023. Technological advancements, strong industrial activities, and a focus on sustainable manufacturing practices drive this region's growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 345.9 Million |
| Market size forecast in 2031 | USD 470.3 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.1% from 2024 to 2031 |
| Number of Pages | 192 |
| Number of Tables | 279 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Equipment Types, End User, Region |
| Country scope |
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| Companies Included | Koch, LLC (Koch Enterprises, Inc.), Progalvano S.r.l., SIFCO ASC, Chicago Plastic Systems, Poliplast Ltd., Sharretts Plating Company, Anoplate Corporation, Lincoln Industries and Arlington Plating Company |
By Equipment Types
By End User
By Geography
This Market size is expected to reach $470.3 million by 2031.
Increasing demand in the automotive industry are driving the Market in coming years, however, High initial investment and operational costs restraints the growth of the Market.
Koch, LLC (Koch Enterprises, Inc.), Progalvano S.r.l., SIFCO ASC, Chicago Plastic Systems, Poliplast Ltd., Sharretts Plating Company, Anoplate Corporation, Lincoln Industries and Arlington Plating Company
The expected CAGR of this Market is 4.1% from 2023 to 2031.
The Electroplating Systems segment is leading the Market by Equipment Types in 2023; thereby, achieving a market value of $189.4 million by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $191.4 million by 2031.
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