Vacuum Coating Equipment Market predicted to grow exponentially over $47 by 2024
Date: 2018-09-11   Author: Ronak Bora  Category: #technology

Vacuum Coating Equipment Market predicted to grow exponentially over $47 by 2024

According to a new research report by the market research and strategy consulting firm, Global Market Insights, Inc., the 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. It is basically used for uniformly coating solar panels by black layer for capturing as much amount of solar energy as possible. These versatile feature makes this product highly desirable for energy and allied applications.

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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.

Key applications of physical vapor deposition are storage, solar panels and microelectronics. Microelectronics application is gaining popularity in recent times. 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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Booming electronics & electrical industry offers promising growth prospects for chip carriers and microelectronic circuits in magnetron squirting during the forecast period. Magnets are employed in steel industry, speakers and other numerous industrial applications. The above-mentioned magnetron squirting end-users shall propel vacuum coating equipment market in the coming years.

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.

About Author

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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