Sellbyville, DE -- (SBWire) -- 03/15/2019 --Vacuum Coating Equipment Market is expected to be favorably influenced by the rapid growth of the consumer electronics, power generation, automotive, and aviation sectors. The ability of vacuum coating equipment to provide an aesthetic appearance, durability, and scratch-resistance will stimulate its demand from the consumer electronics sector, which is predicted to register significant gains of 4% during the period from 2016 to 2024. The rapid growth of this market will impel vacuum coating equipment industry over the years to come.
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PVD coating is applied on engine parts such as valve train components, drive train components, piston pins, piston rings, and gears. In 2013, over 21 million units of commercial vehicles were manufactured and in 2016, manufacturing crossed 22.8 million units. Global passenger vehicles sales registered a growth of 7.2% between March 2015 to March 2016. Increasing adoption of this coating in automobile industry and other industrial applications will strengthen vacuum coating equipment market in future. It is specifically replacing chrome plating, as chromium is carcinogenic in nature and is getting ban in many regions. On the other hand, complex machinery requirements and the need for skilled operators etc. are some of the factors that will hinder growth PVD coating penetration.
Magnetron sputtering has wide and diversified applications such as in gas sensors, corrosion-resistant films, magnetic films, metallizing for microelectronic circuits and chip carriers. Metallizing is an innovative technology replacing electroplating in electronics industry. Magnetron sputtering application will grow above 9% CAGR in global vacuum coating equipment market till 2024.
Key physical vapor deposition applications are microelectronics, storage, and solar panels. These applications are expected to witness a moderate market growth in the forecast period. Microelectronics is an upcoming field that has seen noteworthy rise in last few years. Storage application has grown considerably owing to rapid industrialization in emerging economies. Government friendly policies are encouraging the setup of solar power plants in developing economies such as India and China.
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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.
Asia Pacific contributes significantly in the market with nearly 50% share in revenue generation. Rapid industrialization has increased energy requirements of this region and boosted power generation industry significantly. Leading players of smartphone are foraying into manufacturing of premium smartphones category which requires luxurious external body display this in turn will stimulate vacuum coating equipment market demand.
Germany is expected to make notable contributions toward Europe vacuum coating equipment industry share subject to the thriving automobile sector. Germany vacuum coating equipment market size was over USD 910 million in 2015, and is forecast to grow remarkably over the years to come.
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