PVD Equipment Market Size (2024 - 2029)

The PVD equipment market is experiencing growth driven by increasing demand in sectors such as medical devices and microelectronics, despite challenges like high capital investment requirements. The technology's advantages, including low-temperature operation and environmental benefits, are prompting widespread adoption, particularly in the semiconductor and aerospace industries. The market's expansion is further supported by the shift towards PVD coatings as alternatives to hazardous materials like hard chrome. However, the COVID-19 pandemic has disrupted trade and cash flows, impacting sales, yet the demand for PVD processes for antimicrobial coatings is rising, contributing to the market's resilience.

Market Size of PVD Equipment Industry

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Physical Vapor Deposition (PVD) Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.90 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Physical Vapor Deposition (PVD) Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Physical Vapor Deposition Equipment Market Analysis

The Physical Vapor Deposition (PVD) Equipment Market was valued at USD 19.35 billion in 2020 and is expected to reach USD 25.93 billion by 2026, at a CAGR of 8.9% over the forecast period of 2021 - 2026. The rise in the demand for medical devices and equipment, growing demand for microelectronics in several applications are some of the factors influencing the growth of the PVD equipment market while the need for high capital investment is expected to hinder the growth of the market during the forecast period.

  • Physical vapor deposition (PVD) has become one of the most widely used technologies in the semiconductor industry, with companies increasingly investing in the adoption of these solutions. PVD offers a range of advantages over the substitutes, such as low-temperature operation, low complexity of the process, and environment-friendly nature of the solution. Hence, the companies in the end-user industry are willing to incorporate these systems to leverage technology.
  • The increasing use of microelectronics in a range of devices (from consumer electronics to medical equipment) is one of the trends impacting the rise in demand, with the consumer electronics sector expected to play an essential role in the market. Owing to the documented health risks to workers and the impact on the environment from exposure to hexavalent chromium (a carcinogen that occurs during the chrome plating process and is the most toxic form of chromium), the players in the industry are turning toward PVD.
  • The increasing need for a suitable replacement for hard chrome in the aerospace components has been a critical supply chain priority for aircraft manufacturers. In April 2019, according to sme.org, the aerospace industry was turning to adopt PVD coatings as the healthy, nonhazardous, and REACH-conforming alternatives to hard chrome. These instances support the fact that the PVD market is poised to grow over the forecast period.
  • The restrictions on all the types of nonessential trade between multiple countries that have been put due to the spread of the coronavirus pandemic are contributing towards the declining sales of physical vapor deposition equipment. However, the demand for physical vapor deposition processes for the antimicrobial coatings has been gaining traction, primarily driving the growth of the physical vapor deposition equipment market.
  • The social distancing measures that have been set up by governments and the suspension of all the nonessential international trade have created a substantial problem of cash flows during the initial months of the year. The countries that have been minimally impacted by the coronavirus pandemic are expected to become the key focus of the players currently that are seeking faster recovery from the COVID-19 slump.

Physical Vapor Deposition Equipment Industry Segmentation

Physical Vapor Deposition, also known as PVD Coating is a variety of thin film deposition techniques where the solid metal is vaporized in a high vacuum environment and then deposited on electrically conductive materials such as a pure metal or an alloy coating.

By the end-user, the market studied is segmented into microelectronics, medical devices & equipment, storage equipment, cutting tools, solar products, and others. The scope of the report covers detailed information pertaining to major factors influencing the PVD equipment market, such as drivers and restraints. The study of the market also focuses on various trends in the market, such as the rise in the demand for medical devices and equipment and its effects on the market.

By End User
Microelectronics
Medical Devices and Equipment
Solar Products
Other End Users
By Geography
North America
Europe
Asia Pacific
Rest of the World
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PVD Equipment Market Size Summary

The Physical Vapor Deposition (PVD) Equipment Market is experiencing significant growth, driven by the increasing demand for microelectronics and medical devices. PVD technology is gaining traction in the semiconductor industry due to its advantages, such as low-temperature operation and environmental friendliness. The consumer electronics sector is a major contributor to this demand, as companies seek to replace hazardous processes like chrome plating with safer alternatives. The aerospace industry is also adopting PVD coatings as nonhazardous substitutes for hard chrome, further supporting market expansion. Despite challenges like high capital investment and the impact of the COVID-19 pandemic on international trade, the market is poised for growth, particularly with the rising need for antimicrobial coatings.

Asia Pacific is expected to be a key region for PVD equipment market growth, fueled by increasing R&D investments and the expanding manufacturing base for microelectronics and medical devices. Countries like China, India, and Japan are driving this growth, supported by government investments in healthcare infrastructure and the medical tourism industry. The region's aging population and rising healthcare expenditure present substantial market opportunities. The competitive landscape is dominated by a few major players, with companies focusing on strategic collaborations to expand their global presence. Innovations in PVD technology, such as Advanced Energy's Ascent MS power supply system, are further enhancing market prospects.

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PVD Equipment Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Intensity of Competitive Rivalry

      5. 1.3.5 Threat of Substitute Products

    4. 1.4 Technology Snapshot

      1. 1.4.1 Cathodic Arc Deposition

      2. 1.4.2 Electron Beam PVD

      3. 1.4.3 Sputter Deposition

      4. 1.4.4 Other Deposition Techniques

    5. 1.5 Assessment of COVID -19 Impact on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End User

      1. 2.1.1 Microelectronics

      2. 2.1.2 Medical Devices and Equipment

      3. 2.1.3 Solar Products

      4. 2.1.4 Other End Users

    2. 2.2 By Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia Pacific

      4. 2.2.4 Rest of the World

PVD Equipment Market Size FAQs

The PVD Equipment Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)

Advanced Energy Industries Inc., Angstrom Engineering Inc., Veeco Instruments Inc., Applied Materials Inc. and Platit AG are the major companies operating in the PVD Equipment Market.

PVD Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)