Application of industrial paint booth to remain moderate in automotive & construction sector. This revival of these industries is expected to aid the demand of industrial paint booth market
Fact.MR’s report on global industrial paint booth market projects a sluggish growth to reach a value of over US$ 789 Mn by 2030-end. Following the outbreak of COVID-19, the automotive and construction industry witnessed a dip in industrial paint booth manufacturing demand. However, with the relaxed regulations in lockdown, the upsurge in industrial paint booth products is anticipated through 2030.
According to the latest study, automotive and construction industry constitute of majority share in the industrial paint booth market. Hence, the major slump witnessed in both the industries has affected the sales of industrial paint booth. However, with the recovery in automotive industry, the demand for industrial paint booth is expected to regain traction in the upcoming years.
“Manufacturing companies are experiencing a slight slump with the production of downdraft paint booth. A slow rise in automotive and construction industry expected to aid the industrial paint booth demand,” says a Fact.MR analyst.
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- Industrial paint booth sales to witness stagnancy of nearly 2.6% CAGR
- China and India industrial paint booth sales growing
- China to project a sluggish growth through 2021
- Downdraft paint booth to account for major share
- Automotive industry to witness deceleration in industrial paint booth sales
- Increasing demand from the construction industry to drive the market demand
- Technological advancements in the paint industry to stimulate the growth in the upcoming years
- Favorable environmental regulations to boost the demand for industrial paint booth
- Decline in adoption of industrial paint booth in automotive industry are likely to hinder sales
Discover more about the Industrial paint booth market with 132 figures and 25 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/818/industrial-paint-booths-market
Accudraft, Standard Tools & Equipment Co. Inc., RelyOn, Col-Met Engineered Finishing Solutions, Airblast Eurospray, Nova Verta International SpA, CELIBER Cabinas y Bancadas S.A., and Rohner are some of the key players profiled by Fact.MR. The market is highly consolidated, with leading players focusing on mergers and acquisition as their key strategies to stimulate the growth in the market.
For instance, in September 2020, Durr developed a new paint booth concept as EcoPro Booth paint by using new technology and reducing 95% energy consumption and carbon dioxide emissions.
More Valuable Insights on Industrial paint booth Market
Fact.MR, in its new offering, presents a detailed segmentation on the global industrial paint booth market. The study divulges essential insights on the industrial paint booth market on the basis of product (cross draft paint booth, semi downdraft paint booth, side draft paint booth, downdraft paint booth, open face paint booth, and bench paint booth), end-use (automotive, industrial, aerospace, construction & agriculture, and others), and key regions (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which is the lucrative segment for the industrial paint booth market?
- Which factors will induce a change in the demand for market?
- Which companies are leading the industrial paint booth market?
- What will be the challenges that key players would face due to Covid-19?
- What are the strategies adopted by the key players to revamp their position in the market?
Interested to Procure The Data? Inquire here at – https://www.accesswire.com/637623/Downdraft-Paint-Booth-Segment-is-Projected-to-Grow-at-a-CAGR-of-25-FactMR-Report
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