Paint Spray Gun Market to Reach $2.26 Billion Globally by 2031 at a CAGR of 3.8%: Allied Market Research
Increased construction and maintenance of residential and non-residential buildings and increased disposable income drive the growth of the global paint spray gun market.
PORTLAND, Oregon., August 8, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Paint Spray Gun Market by Product Type (Airless, Pneumatic, HVLP, LVLP, Electrostatic), By Technology (Automatic, Manual), By End-User Industry (Automotive, Construction, Manufacturing, Other): Analysis of Global Opportunities and Industry Forecast, 2021 -2031″. According to the report, the global paint spray gun industry generated $1.53 billion in 2021, and should generate $2.26 billion by 2031, with a CAGR of 3.8% from 2022 to 2031.
Main determinants of growth
Rising construction and maintenance of residential and non-residential buildings and rising disposable income are driving the growth of the global paint spray gun market. However, the requirement of an external power source by the paint gun is limiting the growth of the market. Also, the introduction of lightweight paint guns and the incorporation of microprocessors for smart controls are expected to provide lucrative opportunities for market growth.
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- The outbreak of the Covid-19 pandemic has negatively impacted the global paint spray gun market, owing to the implementation of the global lockdown.
- The lockdown has led to all manufacturing hubs being forced to partially or fully shut down their operations. In addition, disruptions in the supply chain as well as unavailability of raw materials and shortage of labor have led to various challenges in carrying out production activities.
- Many construction activities have been delayed or canceled due to the lockdown. Thus, the reduction in construction activities has diminished the demand for paint spray guns.
- To paint vehicles, car manufacturers mainly use paint spray guns. However, automobile manufacturing has been constrained during the pandemic, which has significantly hampered the demand for paint spray guns.
- Nevertheless, the construction sector and the automotive sector are witnessing a rise in the post-pandemic period, which in turn is expected to positively influence the global paint spray gun market.
The HVLP segment will maintain its leading status throughout the forecast period
Based on product type, the HVLP segment held the highest market share in 2021, accounting for more than two-fifths of the global paint gun market, and is expected to maintain its leading status throughout the forecast period. , due to its effectiveness and ability to give a finer paint finish. However, the LVLP segment is expected to show the highest CAGR of 4.9% from 2022 to 2031, due to its wide applications in DIY projects.
The manual segment to maintain its leading status throughout the forecast period
Based on technology, the manual segment held the highest market share in 2021, accounting for nearly two-thirds of the global paint gun market, and is expected to maintain its leading status throughout the forecast period, because of its profitability. However, the auto segment is expected to show the highest CAGR of 4.2% from 2022 to 2031, owing to its high operational efficiency and heavy usage in the automotive industry.
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The automotive segment will maintain its leading position during the forecast period
On the basis of end-user, the automotive segment accounted for the largest share in 2021, contributing more than two-fifths of the global paint gun market, and is expected to maintain its leading position during the forecast period. This is due to the extensive use of spray guns in the automotive industry. However, the manufacturing segment is expected to show the highest CAGR of 4.5% from 2022 to 2031, owing to the rapid growth of the manufacturing industry in emerging countries such as India, Chinaand Vietnam.
Asia Pacific maintain dominance by 2031
Based on the region, Asia Pacific held the highest market share in terms of 2021 revenue, accounting for almost half of the global paint gun market, and is expected to maintain its leading position during the forecast period, driven by large automotive and manufacturing industry . However, the LAMEA region is expected to experience the fastest CAGR of 4.8% from 2022 to 2031. This is due to the growth of the construction industry.
Major Market Players:-
- Anest Iwata
- Asahi Sunac
- DSTech Co., Ltd.
- EXEL Industries
- FUSO SEIKI
- Graco Inc.
- J. Wagner
- Industrial Lily
- SATA GmbH & Co. KG
- Titan Tool Inc.
- Tritech Industries, Inc.
- Zhejiang Refine Wufu Pneumatic Tools
The report offers a detailed analysis of these key market players. These players have launched new paint guns to remain competitive on the market and enrich their product offering. They have also adopted different strategies such as collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in different regions. The report is valuable for highlighting the business performance, operating segments, product portfolio, and strategic moves of market players to present the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. CEO of Allied Market Research Pawan Kumar is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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