Thermal Spray Equipment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 413.46 Million |
| Market Size (2029) | USD 530.46 Million |
| CAGR (2024 - 2029) | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thermal Spray Equipment Market Analysis
The Thermal Spray Equipment Market size is estimated at USD 413.46 million in 2024, and is expected to reach USD 530.46 million by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).
The market was negatively impacted in 2020 because of the COVID-19 pandemic. The nationwide lockdowns and stringent social distancing mandates caused supply chain disruptions across various markets. However, in 2021, the demand from various sectors recovered and is expected to grow at a significant rate in the coming years.
- Major factors driving the market study are the rising popularity of thermal spray ceramic coatings, the increasing use of thermal spray coatings in the aerospace industry, and the evolution in the power generation sector.
- On the flip side, issues regarding process reliability and consistency hinder the growth of the market studied.
- Current progress in solution precursor plasma spraying of cermets, advancements in the cold spray process, the emergence of HVOF coatings and systems, and growth prospects for twin wire arc thermal spraying systems are expected to offer various opportunities for the growth of the market studied.
- The Asia-Pacific region is expected to dominate the global market during the forecast period.
Thermal Spray Equipment Market Trends
This section covers the major market trends shaping the Thermal Spray Equipment Market according to our research experts:
Rising Application in the Aerospace Industry
- Thermal spray equipment is employed for several purposes in jet engine components, such as crankshafts, piston rings, cylinders, valves, etc. In addition, it is also applied in the coating of landing gear 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. 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 to adapt and implement thermal spray equipment as an alternative for hard chromium plating on numerous structural components. According to the Boeing Commercial Outlook 2022-2041, the global forecast for commercial aviation services (which include flight operations, maintenance and engineering, ground, station, and cargo operations, and others) is expected to be USD 3,615 billion by 2041.
- Furthermore, according to the International Air Transport Association (IATA), the global revenue for commercial airlines was valued at USD 373 billion in 2020 and was estimated at USD 472 billion in 2021, registering a growth rate of 26.7% Y-o-Y. Furthermore, the revenue was expected to reach USD 658 billion by 2022.
- Aircraft manufacturers are looking for ways to accelerate production to fill order backlogs. For instance, according to the Boeing Commercial Outlook 2022-2041, the total global deliveries of new airplanes are estimated to be 41,170 by 2041. The global airplane fleet amounted to around 25,900 units as of the year 2019 and the fleet number is likely to reach 47,080 units by 2041.
- Overall, there is a promising growth for the demand for thermal spray equipment in the aerospace industry over the forecast period.
China to Dominate the Asia-Pacific Region
- The thermal spray equipment market in China is experiencing healthy growth, mirroring the manufacturing section of the aerospace and automotive industry of the country.
- China is one of the largest steel producers, and steel mills use thermal spray coatings for protection. The steel industry mainly uses coatings of processing rolls by HVOF, spray fusing, plasma spraying, and plasma-transferred arc overlaying welding.
- The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. 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 6.6% per year.
- In China, according to the Boeing Commercial Outlook 2022-2041, around 8,485 new deliveries will be made by 2041 with a market service value of USD 545 billion.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), China has the largest automotive production base in the world, with a total vehicle production of 26.08 million units in 2021, registering an increase of 3% compared to 25.23 million units produced in last year.
- A growth of 106% in battery-plugged electric vehicles was witnessed in November 2021 compared to the same period in 2020. The country's sales of electric vehicles reached around 413,094 units in November 2021. In addition, the market share also increased to 19%, including 15% of all-electric and 4% of plug-in hybrid cars.
Thermal Spray Equipment Industry Overview
The global thermal spray equipment market is partially consolidated in nature. The major players in the market studied include (not in any particular order) Oerlikon, Linde, GTV Verschleibschutz GmbH, Kennametal, and Saint-Gobain, amongst others.
Thermal Spray Equipment Market Leaders
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Oerlikon
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Linde
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GTV Verschleibschutz GmbH
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Kennametal
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Saint-Gobain
*Disclaimer: Major Players sorted in no particular order
Thermal Spray Equipment Market News
- In December 2022, Oerlikon planned to invest in a new state-of-the-art assembly and production site for its surface solutions and equipment businesses in Switzerland.
- In December 2021, Flame Spray Technologies BV introduced its new rGun, a rotating plasma gun thermal spray unit. This gun improves the capabilities of a standard plasma gun by providing continuous rotation of the attached plasma gun during the spray operation.
- In September 2021, Lincotek launched an HMI technology-based thermal spray system which will improve the flexibility and usability of the thermal spray system.
Thermal Spray Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Application in Aerospace Industry
4.1.2 Rising Popularity of Thermal Spray Ceramic Coatings
4.1.3 Evolution in Power Generation Sector
4.2 Restraints
4.2.1 Issues Regarding Process Reliability and Consistency
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Technological Snapshot
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Thermal Spray Coating Systems
5.1.2 Dust Collection Equipment
5.1.3 Spray Guns and Nozzles
5.1.4 Feeder Equipment
5.1.5 Spare Parts
5.1.6 Noise-reducing Enclosures
5.1.7 Other Product Types
5.2 Process
5.2.1 Combustion
5.2.2 Electric Energy
5.3 End-user Industry
5.3.1 Aerospace
5.3.2 Industrial Gas Turbines
5.3.3 Automotive
5.3.4 Electronics
5.3.5 Oil and Gas
5.3.6 Medical Devices
5.3.7 Energy and Power
5.3.8 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 ASEAN Countries
5.4.1.6 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Air Products and Chemicals Inc.
6.4.2 Lincotek Equipment
6.4.3 Arzell Inc.
6.4.4 ASB Industries Inc.
6.4.5 Bay State Surface Technologies Inc. (Aimtek)
6.4.6 Camfil Air Pollution Control
6.4.7 Castolin Eutectic
6.4.8 Donaldson Company Inc.
6.4.9 Flame Spray Technologies BV
6.4.10 Thermion
6.4.11 GTV Verschleibschutz GmbH
6.4.12 HAI Inc.
6.4.13 Imperial Systems Inc.
6.4.14 Kennametal Inc.
6.4.15 Linde
6.4.16 CenterLine Holdings Inc. (Supersonic Spray Technologies)
6.4.17 Metallisation Ltd
6.4.18 Metallizing Equipment Co. Pvt. Ltd
6.4.19 OC Oerlikon Management AG
6.4.20 Plasma Powders & Systems Inc.
6.4.21 Powder Feed Dynamics Inc.
6.4.22 Progressive Surface
6.4.23 Saint-Gobain
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Current Progress in Solution Precursor Plasma Spraying of Cermets
7.2 Advancements in Cold Spray Process
7.3 Emergence of HVOF Coatings and Systems
7.4 Growth Prospects for Twin Wire Arch Thermal Spraying Systems
Thermal Spray Equipment Industry Segmentation
Thermal Spray Equipment is used for thermal spray that consists of a heat source and a coating material in a powder or wire form, which is melted into microparticles and sprayed onto metal or sometimes plastic surfaces. The thermal spray equipment market is segmented by product type, process, end-user industry, and geography. By product type, the market is segmented into thermal spray coating systems, dust collection equipment, spray guns and nozzles, feeder equipment, spare parts, noise-reducing enclosures, and other product types. By process, the market is segmented into combustion and electric energy. By end-user industry, the market is segmented into aerospace, industrial gas turbines, automotive, electronics, oil and gas, medical devices, energy and power, and other end-user industries. The report also covers the market sizes and forecasts for the thermal spray equipment market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Product Type | |
| Thermal Spray Coating Systems | |
| Dust Collection Equipment | |
| Spray Guns and Nozzles | |
| Feeder Equipment | |
| Spare Parts | |
| Noise-reducing Enclosures | |
| Other Product Types |
| Process | |
| Combustion | |
| Electric Energy |
| End-user Industry | |
| Aerospace | |
| Industrial Gas Turbines | |
| Automotive | |
| Electronics | |
| Oil and Gas | |
| Medical Devices | |
| Energy and Power | |
| Other End-user Industries |
| Geography | ||||||||
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Thermal Spray Equipment Market Research FAQs
How big is the Thermal Spray Equipment Market?
The Thermal Spray Equipment Market size is expected to reach USD 413.46 million in 2024 and grow at a CAGR of 5.11% to reach USD 530.46 million by 2029.
What is the current Thermal Spray Equipment Market size?
In 2024, the Thermal Spray Equipment Market size is expected to reach USD 413.46 million.
Who are the key players in Thermal Spray Equipment Market?
Oerlikon, Linde, GTV Verschleibschutz GmbH, Kennametal and Saint-Gobain are the major companies operating in the Thermal Spray Equipment Market.
Which is the fastest growing region in Thermal Spray Equipment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Thermal Spray Equipment Market?
In 2024, the Asia-Pacific accounts for the largest market share in Thermal Spray Equipment Market.
What years does this Thermal Spray Equipment Market cover, and what was the market size in 2023?
In 2023, the Thermal Spray Equipment Market size was estimated at USD 393.36 million. The report covers the Thermal Spray Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thermal Spray Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thermal Spray Equipment Industry Report
Statistics for the 2024 Thermal Spray Equipment market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Thermal Spray Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
