Shot Blasting Machine Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape, Trends and Forecast 2022-2031
As per a recent market survey by Future Market Insights, sales in the global shot blasting machine market are expected to increase at a healthy 5% CAGR, reaching a valuation of US$ 1.8 Bn in 2031.
Shot blasting machines play a vital
role in the metal industry. With increasing demand from industries such as
aerospace and automotive, sales will rise across the globe over the forecast
period.
Growing demand for shot blasting
equipment from the construction and automotive sectors is expected to drive the
demand for semi-automatic shot blasting machine in the forthcoming years.
Further, manufacturers are offering
customized shot blasting machines to improve sales in the market. They are
focusing on innovative technologies and techniques to improve the performance
of these machines. This is expected to augment the. Growth of the market in the
forthcoming years.
As per FMI, sales in China and India
are expected to increase at a considerable pace owing to rapid urbanization,
increasing sales of electric vehicles, and growing residential and commercial
establishments.
“Increasing applications of shot blast
machines in the aviation sectors, along with surging demand for roller conveyor
shot blasting machines will continue boosting the growth in the market over the
forecast period,” says an FMI analyst.
Key Takeaways:
- In terms of product type, sales of wheel blasting machines are
projected to increase at a 3.8% CAGR through 2031.
- Based on automation, demand in the semi-automatic segment will grow
at a 4.1% CAGR over the assessment period.
- Sales in the automotive sector will increase at a steady 4.2% CAGR
over the forecast period.
- The U.S. will dominate North American shot blasting machines
market, expanding at a 4% CAGR.
- The U.K. will emerge as a lucrative pocket in Europe shot blasting
machines market, with sales growing at a 4.3% CAGR.
Competitive Landscape
Some of the leading players in the
market are SINTOKOGIO, LTD., Rösler Oberflächentechnik GmbH, Norican Group and
SHANDONG KAITAI GROUP CO. LTD. The top 5 players are projected to account for
20-25% of the total market share over the forecast period.
The global shot blasting machines
market is extremely consolidated. Market players are competing to increase
their global footprints by advancing their product portfolio through
technological innovations and new product development. Players are also
expanding their sales channels in emerging markets through collaborations and
are focusing to provide global service network to end users.
Read more: https://www.futuremarketinsights.com/reports/shot-blasting-machine-market
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