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Thermal Spray Equipment Market Size (2024 - 2029)

The Thermal Spray Equipment Market is projected to experience growth over the forecast period, driven by the increasing adoption of thermal spray coatings in sectors such as aerospace and power generation. Despite challenges related to process reliability and consistency, advancements in technologies like solution precursor plasma spraying and cold spray processes present opportunities for market expansion. The Asia-Pacific region is anticipated to lead the market, reflecting its significant market share and growth potential.

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Market Size of Thermal Spray Equipment Industry

Thermal Spray Equipment Market Summary
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

Thermal Spray Equipment Market 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 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
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Thermal Spray Equipment Market Size Summary

The thermal spray equipment market is poised for significant growth, driven by the increasing adoption of thermal spray ceramic coatings and their expanding application in the aerospace and power generation sectors. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted supply chains and negatively impacted market dynamics, the industry has shown resilience and is on a recovery path. Innovations such as solution precursor plasma spraying, advancements in cold spray processes, and the emergence of HVOF coatings are expected to create new opportunities for market expansion. The Asia-Pacific region, particularly China, is anticipated to lead the global market, supported by its robust aerospace and automotive industries, which are experiencing healthy growth.

In the aerospace sector, thermal spray equipment is extensively used for coating jet engine components and enhancing the durability of landing gear, among other applications. The industry's shift towards thermal spray as an alternative to traditional hard chromium plating, spearheaded by companies like Boeing, underscores the technology's growing importance. The market's competitive landscape is characterized by key players such as Oerlikon, Linde, and Saint-Gobain, who are actively investing in technological advancements and new production facilities to strengthen their market positions. These developments, coupled with the increasing demand for thermal spray equipment in various industrial applications, suggest a promising growth trajectory for the market over the forecast period.

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Thermal Spray Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Application in Aerospace Industry

      2. 1.1.2 Rising Popularity of Thermal Spray Ceramic Coatings

      3. 1.1.3 Evolution in Power Generation Sector

    2. 1.2 Restraints

      1. 1.2.1 Issues Regarding Process Reliability and Consistency

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Technological Snapshot

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Product Type

      1. 2.1.1 Thermal Spray Coating Systems

      2. 2.1.2 Dust Collection Equipment

      3. 2.1.3 Spray Guns and Nozzles

      4. 2.1.4 Feeder Equipment

      5. 2.1.5 Spare Parts

      6. 2.1.6 Noise-reducing Enclosures

      7. 2.1.7 Other Product Types

    2. 2.2 Process

      1. 2.2.1 Combustion

      2. 2.2.2 Electric Energy

    3. 2.3 End-user Industry

      1. 2.3.1 Aerospace

      2. 2.3.2 Industrial Gas Turbines

      3. 2.3.3 Automotive

      4. 2.3.4 Electronics

      5. 2.3.5 Oil and Gas

      6. 2.3.6 Medical Devices

      7. 2.3.7 Energy and Power

      8. 2.3.8 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 ASEAN Countries

        6. 2.4.1.6 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Thermal Spray Equipment Market Size FAQs

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.

In 2024, the Thermal Spray Equipment Market size is expected to reach USD 413.46 million.

Thermal Spray Equipment Market Report Snapshots

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