DUBAI, United Arab Emirates, Feb. 02, 2022 (GLOBE NEWSWIRE) — 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% CAGRreaching a value of $1.8 Bn in 2031.
|Shot Blasting Machine Market Base Year Value (2020)||$1,068.8 Mn|
|Shot Blasting Machine Market Estimated Year Value (2021)||$1.1 Bn|
|Shot Blasting Machine Market Projected Year Value (2031)||$1.8 Bn|
|Shot Blasting Machine Market Value-based CAGR (2021-2031)||5.0%|
|Shot Blasting Machine Market Collective Value Share: Top 3 Countries (2021)||42.5%|
Shot blasting machines play a vital role in the metal industry. With demand increasing 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.
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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.
- 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 US will dominate the North America shot blasting machines market, expanding at a 4% CAGR.
- The UK will emerge as a lucrative pocket in the Europe shot blasting machines market, with sales growing at a 4.3% CAGR.
Some of the key players in the market are SINTOKOGIO, LTD., Rösler Oberflächentechnik GmbH, Norican Group and SHANDONG KAITAI GROUP CO. LTD. Top 5 players are projected to account for 20-25% of the total market share over the forecast period.
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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.
Scope Of Report
|Historical Data Available for||2016-2020|
|Market Analysis||$ Million for Value and Units for Volume|
|Key Countries Covered||US, Canada, Germany, Italy, France, UK, Spain, BENELUX, Poland, Russia, Czech Republic, Hungary, Rest of Europe, Brazil, Mexico, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, Northern Africa, South Africa|
|Key Segments Covered||Product Type, Automation, End Use, Region|
|Key Companies Profiled|| • SINTOKOGIO, LTD.
• Rösler Oberflächentechnik GmbH
• Norican Group
• SHANDONG KAITAI GROUP CO. LTD.
• Surface Finishing Equipment Company
• Qingdao Huanghe Foundry Machinery Factory
• Guyson Corporation
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
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The research report analyzes the market demand trends of shot blasting machine market. The global market estimation and growth projection is based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Shot Blasting Machine. As per Future Market Insights research scope, the Shot Blasting Machine Market has been studied and segmented on the basis of product type, automation, end-use industry and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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