At 8% CAGR, Vacuum Coating Equipment Market to cross USD 47 billion by 2024
Date: 2019-01-28   Author: Ronak Bora  Category: #industry

At 8% CAGR, Vacuum Coating Equipment Market to cross USD 47 billion by 2024

Global Vacuum Coating Equipment Market is majorly driven by escalating automobile production, and electronics industry. Also, the technology has witnessed considerable growth in recent years owing to its application in power generation industry such as solar energy. It is used to coat solar panels with thin uniform black layer to attract maximum solar rays possible. These multiple and diverse application sectors offer a healthy growth to global market.

Vacuum Coating Equipment Market is forecast to reach USD 47 billion according to this new research report.
Vacuum coating equipment is primarily driven by booming demand from electronic and automobile industry. The product market has seen considerable growth over the recent years on account of its widespread application in energy & power industry, especially in solar power generation. 

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Vacuum coating equipment are considerably used for microelectronic applications. The PVD coating technology is slowly emerging as substitute to conventional methods of painting and electroplating. It is also gradually replacing chrome plating. Hence, increasing awareness and adoption of this technology as an alternative to conventional methods shall fuel vacuum coating equipment market growth in the forecast duration. Desirable characteristics such as durability and appealing aesthetics makes the product suitable for electronics and automobile applications.

Physical vapor deposition (PVD) segment is expected to expand at a growth rate close to 9% in the coming years. This technology requires semi-skilled operator for handling and has minimum initial cost in comparison with chemical vapor deposition technology. Magnetron squirting has emerged as most attractive segment of vacuum coating equipment market over the recent years. It is the higher version to physical vapor deposition coating equipment. Though magnetron squirting holds a considerably low market  compared to the other two product segments, it is likely to witness maximum gains nearby 9% by 2024 over the forecast timespan.

Storage application shall witness significant growth owing to the rapid industrialization globally. Governments, particularly in China and India are promoting solar energy usage and solar power generation plants, which shall positively influence global vacuum coating equipment market in the coming years.

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North America shall witness substantial growth in vacuum coating equipment market. U.S is a big investor in non-conventional energy sources development contributing almost 40% in overall industry share in 2016. Hence, solar applications demand is anticipated to increase in this region, which in turn, will accelerate product demand over the forecast period.

Asia Pacific generated more than 50% of overall global product revenue in 2016. Rapid industrialization has considerably boosted the energy and power generation demand in this region. Furthermore, many smartphone players are entering premium phones manufacturing that requires attractive external body. This shall stimulate vacuum coating equipment market  over the forecast timeframe.

In 2016, vacuum coating equipment market was fairly consolidated with major companies holding close to half of the global market share. Major industry players are CVD Equipment Corporation, Kolzer SRL, Buhler AG, Scientific Vacuum Systems (SVS), Semicore Equipment and Applied Materials. Other major players are Singulus Technologies, Miba Group, BCI Blösch group, AJA International, IHI Corporation and OC Oerlikon.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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