Plating Equipment Market Size, Share, Growth, and Industry Analysis, by Type (Automatic Plating Equipment, Semi-Automatic Plating Equipment, and Others), By Application (Automotive, Machinery, Home Appliance, Electronic, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Plating Equipment Market REPORT OVERVIEW

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The global plating equipment market size was USD 759.4 million in 2021 and the market is projected to touch USD 1138.72 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% during the forecast period.

All machinery and components used to coat plastic or metal objects are considered plating equipment. This equipment is suitable for gold plating, electroplating, chrome finishing, and anodizing. The plating process is used to change an object's aesthetic and functional properties. It is used in a wide range of industries, including jeweler, automotive, and manufacturing. Barrels and tanks are common pieces of equipment. In some cases, these barrels may be made of PVC, polyethylene, or even stainless steel.

Plating vessels may also include open racks where objects are laid out as they are coated with metals or minerals. It may also include the chemicals and additives used during plating, depending on the type of plating process used. Electroplating, for example, necessitates the use of electrolyte solutions, whereas anodizing may necessitate the use of specialized chemicals such as copper acetate. Other additives aid in ensuring that an object receives an even coating or that the coating has the desired finish and thickness. Lacquer and wax are used as stop-offs to protect areas that are not intended to be plated.

It can also refer to highly specialized machinery and assembly lines that aid in the automation of the plating process. Belts and other transport systems may be used to transport raw materials through a plating unit and beyond for drying and finishing. Commercial plating lines frequently include a variety of equipment that is linked together to maximize capacity and meet production targets.

COVID-19 Impact: Combined Effect of the Pandemic Accelerated Market Growth

The COVID-19 pandemic had a significant impact on the plating equipment market. During the pandemic, challenges such as supply chain disruption and temporary factory shutdowns arose, slowing market growth. During the pandemic, market participants faced a number of challenges in maintaining normal business operations. The companies encountered difficulties in the manufacturing and sales processes, resulting in order delays. The market was also harmed by the slowing growth of several end-use industries. The market is expected to grow significantly in the future as the automotive and consumer electronics sectors expand.

LATEST TRENDS

"Technological Advancement Lead the Market Growth"

Rapid industrialization in developing countries, combined with high disposable income, is driving demand for the automotive, electronics, and jeweler industries, which is driving the electroplating market. Since the industrial revolution, businesses have attempted to simplify this by reducing the workforce or the complexity of the work. Similarly, similar things are happening in this market. Companies are attempting to simplify and speed up the process in order to save money and time without sacrificing quality. Technology has advanced significantly to meet all of the industry's needs in order to achieve greater revenue success.

Plating Equipment Market SEGMENTATION

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• By Type

Based on type; the market is divided into Automatic Plating Equipment, Semi-Automatic Plating Equipment, and Others

Automatic Plating Equipment is the leading part of this segment.

• By Application

Based on application; the market is divided into Automotive, Machinery, Home Appliance, Electronic, and Others

Automotive Charges is the leading part of the application segment.

DRIVING FACTORS

"Growth of Automotive Industry Boost the Market Growth"

The rising demand for zinc and zinc-nickel alloy plating to protect against corrosion and improve the aesthetics of automotive parts is propelling growth in the automotive industry. The demand for gold-plated exterior parts is driven by the luxury car segment due to their aesthetic appeal as well as the corrosion and wear resistance provided by the process. The proximity to end users helps with communication and project acquisition. Globally, the automobile industry is thriving, which will contribute to market growth during the forecast period.

"Growth of Electronic Industry Accelerate a Market Growth"

During the forecast period, the global market for the item will expand at a rapid pace. Prospects for growth appear to be promising. The rate at which electronic products are sold around the world results in a strong increase in demand. Manufacturers of electronic products, as well as electrical devices and components, are required to use electroplating techniques to coat metal surfaces coherently. These changes result in market expansion.

RESTRAINING FACTORS

"Environmental Issues of Electroplating Hinder the Market Growth"

Strict regulations governing the use of precious metal plating chemicals have been a major challenge in the market, and this may have an impact on market growth during the forecast period. Because many plating processes involve toxic metals and hazardous chemicals, regulatory bodies closely monitor the market. The equipment should be in such a way that it reduces the pollution that risks human health. Because of the negative effects of metal plating chemicals, strict monitoring is required, which may have an impact on market growth during the forecast period.

Plating Equipment Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to the Increasing Number End User Industries"

North America has the largest plating equipment market share when compared to other geographical regions. Because of the region's expanding electrical and electronic industries, the North American region is expected to see significant demand during the forecast period. A boost in the region's automobile industry will encourage the increased use of precious metal plating chemicals in the production of catalytic converters for automobiles and the coating application of several automotive parts, either through electroplating or coating application. As a result, it is required in all of these procedures that positively affect the plating equipment market growth.

KEY INDUSTRY PLAYERS

"Prominent Players in the Market to Boost Market Growth"

The information in this market was gathered from a variety of sources. Trade journals, statistics from professional associations, university studies, and government reports are just a few examples. In addition to these primary sources, information is gathered from producers, distributors, sellers, retailers, micro-experts, and other market participants. The report includes information about industry participants and their local activities. Partnerships, technological advancements, acquisitions, mergers, and industrial facility expansion are a few examples of data collection and reporting methods.

List of Market Players Profiled

• Atotech
• EEJA (Japan)
• George Koch Sons (U.S.)
• Besi (Netherlands)
• PAT (U.S.)
• PAL (U.S.)
• Jettech (U.S.)
• JCU (China)
• KOVOFINIS (Czech Republic)
• Technic Inc (U.S.)
• Gangmu machinery (China)
• HEKEDA (China)
• STS (U.S.)

REPORT COVERAGE

The research includes a comprehensive examination of the market's current state, including raw materials, technology, and equipment, as well as supply and demand, production capacity, and industry chain analysis. This study assesses the market potential as well as the market risks associated with the emergence of specific categories. The influence of major market drivers and restraints on market growth is also assessed. The performance of major firms is evaluated over time, and their effects on market dynamics are investigated.