Market Size of Thermal Spray Equipment Industry
| 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 |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
