One of the major factors fuelling the rise in the demand for metal finishing equipment is the flourishing automotive industry across the world. There has been a massive rise in the sales of passenger cars and other vehicles across the globe, especially in the emerging economies such as India, China, Mexico, and Indonesia, over the last few years. In addition to this, China has recorded the highest sales of automobiles in the world in the last few years. For instance, the country observed sales of almost 29.2 million automobiles in 2019.
The other major
factor boosting the demand for metal finishing equipment is the surging
aerospace industry across the globe. The aerospace industry is mainly focused
with the development of spacecraft and aircraft and their various auxiliary
systems. In the production of spacecrafts, aircrafts and aircraft components,
several parameters are given greater importance such as the quality of the
metal, which in turn, pushes the need for superior metal finishing process and
equipment.
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Due to the
above-mentioned factors, the revenue generated from the worldwide sales of
metal finishing equipment is expected to increase from $13,171.2 million to
$17,617.0 million from 2018 to 2024. The global metal finishing equipment
market is predicted to advance at a 4.9% CAGR of during 2019–2024 (forecast
period). Metal finishing equipment are basically used for conducting finishing
tasks for various metal components, in order to improve their chemical
resistance, corrosion resistance, appearance, hardness, wear resistance,
conductivity, and tarnish resistance.
Some of the major players operating in the global metal finishing equipment market are Atotech Deutschland GmbH, Plating Equipment Ltd., GARBOLI, Mass Finishing Incorporated, Rosler Oberflachentechnik GmbH, Jason Industries Inc., ClassOne Technology Inc., Dey Brothers & Company, Techno-Commerz - Hau-Klenner GmbH, OTEC Prazisionsfinish GmbH, and Nordson Corporation.
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