Report ID : CBI_1184 |
Base Year: | 2022 |
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CAGR: | 4.2% |
Forecast Year: | 2023 - 2030 |
Revenue 2022: | $1,257.60 Mn |
Revenue 2030: | $1,733.26 Mn |
Consegic Business Intelligence analyzes that the shot blasting machine market is growing with a healthy CAGR of 4.2% during the forecast period (2023-2030), and the market is projected to be valued at USD 1,733.26 Million by 2030 from USD 1,257.60 Million in 2022.
The shot blasting machine is enclosed equipment manufactured for abrasive blasting for preparing & cleaning stone, metal, and other surfaces. The shot blasting machine is an equipment, utilized for shot peening & cleaning metal parts, including casting parts, forging, heavy metal structures, steel surfaces, and rusted metal parts, among others. The major types of shot blasting machines include wheel blasting, air blasting, and others. These products exhibit various benefits such as corrosion resistance, being environment-friendly, faster operation, preparing the surface, showing up surface defects, and others. As a result, a shot blasting machine is an ideal solution for various end-use industries such as automotive, aerospace, construction, marine, locomotive, and others.
The shot blasting machine is widely deployed in the automotive industry to eliminate the stress on the metal plate. The metal plates are utilized in automotive vehicles such as passenger cars, light commercial vehicles, and heavy commercial vehicles. The rising adoption of electric vehicles, the increasing purchasing power of people, and others are some of the key trends proliferating the growth of the automotive industry at the global level. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the global automobiles vehicles production was 80,205,102 units in 2021, and in 2022, it was 85,016,728 units, a year-on-year growth rate of 6%. Thus, the growth of the automotive industry is a prime factor boosting the demand for shot blasting machines at the global level to ensure efficient anti-rust treatment. This factor is driving the shot blasting machine market growth at the global level.
Shot blasting machines are employed in construction applications, including angle steel, steel structures, metal sheets, welded parts, beams, pipes, section bars, and others. The adoption of a shot blasting machine in the above applications ensures the elimination of burrs, de-rusted, oxides, and others. Vital factors such as increasing investments in new construction projects, the rising demand for increased floor area for commercial spaces, and others are driving the growth of global building & construction activities. For instance, according to the European Construction Industry Federation (FIEC), in 2020, the total investments in new building & construction projects across the European Union region was valued at Euro 1,402 billion (USD 1,598.6 billion), and in 2021, it was Euro 1,602 billion (USD 1,893.6 billion). The year-on-year growth rate of the new building & construction investment in the European Union region was 14.3% in 2021. Therefore, the bolstering of building & construction activities at the global level is fueling the demand for shot blasting machines to meet the structural requirements, which, in turn, is fostering market growth.
Shot blasting machines have several performance limitations such as limited cleaning impact of the machine, noise constraints, low dust removal efficiency, and others. For instance, the frequent utilization of shot blasting machines can often lead to fatigue, aging, and others. These can impact the performance features of shot blasting machines such as wear and corrosion protection. Hence, the timely maintenance of shot blasting machines is recommended to ensure smoother functioning of equipment without compromising performance. As a result, the above performance limitations associated with shot blasting machines are posing a major bottleneck for the global market growth during the projected forecast period.
In the aerospace industry, metal parts and components are designed with exact and even finishes to meet highly demanding specifications and tolerances. Hence, shot blasting machines are ideal for the aerospace industry for the manufacturing of new components, repair of existing components, overhaul, and others to provide a uniform, rough or matte surface. For instance, according to the Airbus 2023-2042 forecast, the demand for new passengers and freighter aircraft will reach 40,850 in the coming 20 years. Thus, it is evident from the above data that the aerospace industry will register a favorable growth outlook in the long run. As a result, the growth of the aerospace industry will boost the demand for shot blasting machines for the production of new components. This, in turn, will create a potential growth opportunity for the shot blasting machines market during the projected forecast period.
Report Attributes | Report Details |
Study Timeline | 2017-2030 |
Market Size in 2030 | USD 1,733.26 Million |
CAGR (2023-2030) | 4.2% |
By Product Type | Wheel Blasting, Air Blasting, and Others |
By Mode of Operation | Manual, Automatic, and Semi-Automatic |
By End-use Industry | Automotive, Aerospace, Construction, Marine, Locomotive, and Others |
By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Players | Rosler Oberflachentechnik GmbH, AGTOS GmbH, Goff Inc, Shandong Kaitai Shot-blasting Machinery Co.Ltd, Pangborn Group, SIAPRO, Sintokogio Ltd., Norican Group, MEC SHOT, and Surface Finishing Equipment Company |
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Download Sample ReportThe product type segment is categorized into wheel blasting, air blasting, and others. In 2022, the wheel blasting segment accounted for the highest market share of 41.65% in the overall shot blasting machine market. The prime benefits associated with wheel blasting include superior speed, excellent efficiency, and the ability to blast larger objects. Moreover, the deployment of wheel blasting ensures minimum dirt remains at the end of the cleaning process. Thus, wheel blasting is an ideal product for various end-use industries such as automotive, mining, industrial, and others. For instance, in August 2021, ActOn Finishing, a metal finishing manufacturer in India formed a partnership with Cogeim Europe, an Italy-based manufacturer. ActOn Finishing is supplying wheel blasting to the manufacturing sector in the United Kingdom as part of the partnership. The wheel blasting is designed by Cogeim Europe. Hence, the increasing product offering for wheel blasting at the global level ensures superior speed. This vital determinant is propelling segment growth.
However, the air blasting segment is projected to be the fastest-growing segment during the forecast period. This is due to the increasing construction activities at the global level, which are fostering segmental growth.
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Download Sample ReportThe mode of operation segment is categorized into manual, automatic, and semi-automatic. In 2022, the automatic segment accounted for the highest market share in the shot blasting machine market and is expected to be the fastest-growing segment during the forecast period. The key benefits related to automatic shot blasting machines include reduced labor costs and increased productivity. In addition, the automatic shot blasting machine has superior performance features such as extended work life, optimal blast pattern, user-friendly, automatic abrasion refill, and others. As a result of the above features, automatic shot blasting machines are frequently utilized in locomotives, marine, automotive, and other industries. For instance, in May 2021, Additive Manufacturing Technologies Ltd., a global player in the shot blasting machine launched PostProDP MAX, a new range of fully automated shot blasting systems. The key benefits of the product include minimizing the machine footprint and maintenance costs. Thus, the development of a new range of automatic shot blasting machines will accelerate the market growth in the forecast years.
The end-use industry segment is categorized into automotive, aerospace, construction, marine, locomotive, and others. In 2022, the automotive segment accounted for the highest market share in the shot blasting machine market. The shot blasting machine ensures anti-rust treatment. This eliminates the stress of the steel plate and removes the welding slag. Thus, the shot blast machine is utilized in automotive chassis, steel frames, and others. These products are employed in passenger cars, electric vehicles, trucks, buses, and others. The development of infrastructure projects, growth of public transportation, and others are key variables propelling the demand for commercial vehicles. These factors are contributing to the growth of automotive production. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the production of commercial vehicles at the global level was 21,787,126 units in 2020, and in 2021, it was 23,091,693 units. In 2021, the year-on-year growth rate for commercial vehicle production was 5.9%. Henceforth, the growth of the automotive industry is favoring the demand for shot blast machines to remove the rust layer in automobiles. This, in turn, is fostering market growth.
However, the aerospace segment is expected to be the fastest-growing segment during the forecast period. This growth is attributed to factors such as increasing investment in new aerospace manufacturing facilities, government initiatives for new aircraft model development, and others.
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportIn 2022, Asia Pacific accounted for the highest market share at 38.35% and was valued at USD 482.29 million, and is expected to reach USD 669.91 million in 2030. In Asia Pacific, China accounted for the highest market share of 22.50% during the base year of 2022. The advancement of the sectors such as automotive, aerospace, construction, and others are boosting the shot blast machine market growth in the Asia Pacific region. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2022, the Asia Pacific region manufactured the highest number of total automotive vehicles at the global level, holding a share of 58.84%. In 2021, the total production of automotive vehicles in the Asia Pacific was 46,768,800 units, and in 2022, it was 50,020,793 units, an increase of 7% over 2021. Henceforth, the revenue expansion of the above end-use industries in the Asia Pacific region is driving the shot blast machine market growth in the region.
Furthermore, Europe is expected to witness significant growth over the forecast period, growing at a CAGR of 4.9% during 2023-20230. This is due to the presence of various shot blasting machines industry players, the development of new electric vehicle manufacturing facilities, and others.
Details Countries Growth Insights
Download Sample ReportThe shot blasting machine market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include -
In 2022, the market size of shot blasting machine was USD 1,257.60 million.
In 2030, the market size of shot blasting machine will be expected to reach USD 1,733.26 million.
What are the key factors driving the growth of the shot blasting machine market?
In 2022, the wheel blasting segment accounted for the highest market share of 41.65% in the overall shot blasting machine market.
Asia Pacific accounted for the highest market share in the overall shot blasting machine market.