Metal Cleaning Equipment Market is poised to grow at a CAGR of 3.75% during forecast period. TMR offers a full and customized report of metal cleaning equipment market.
pune, Maharashatra -- (SBWIRE) -- 01/16/2020 -- According to a new market report published by Transparency Market Research titled "Metal Cleaning Equipment Market (Operational Mode – Manual, Semi-Automatic, Fully Automatic; Chemical Type – Solvent and Aqueous; Technology – Open Tank Single Stage, Open Tank Multi Stage, Tunnel Metal, Cabin Metal; Washing Type – Pickling/Immersion Cleaning Equipment, Spray Metal Cleaning Equipment, Vapor Phase Metal Cleaning Equipment); Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2027," the global metal cleaning equipment market is expected to reach a value of US$ 1,745.7 Mn by 2027. In terms of value, the market is estimated to expand at a CAGR of 3.75% during the forecast period from 2018 to 2027. In terms of volume, the market stood at around 1,240.8 thousand units in 2017. The Asia Pacific metal cleaning equipment market is expected to witness the highest growth during the forecast period both in terms of value (US$ Mn) and volume (Units). The market witnessed considerable growth in the Asia Pacific region because of increasing manufacturing activity breakthrough for metal cleaning equipment in Japan, China, and India.
The market dynamics of the global metal cleaning equipment market are subject to factors mainly related to the growing focus on equipment efficiency and rising need for cleaning equipment customization due to diversifying manufacturing activities. In terms of chemical type, the aqueous metal cleaning segment is anticipated to gain the largest share with total value of US$ 506.8 Mn by 2027 at a CAGR of 4.0% annually. However, stricter implementation of environmental regulations and regulations governing workforce safety are the major challenges restraining the growth of the market. Nevertheless, the market is anticipated to grow due to growing manufacturing sector in the Asia Pacific region.
Request A Sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9896
In 2017, based on chemical type, the solvent metal cleaning segment accounted for market value of about US$ 894.5 Mn in the global metal cleaning equipment market. Solvent metal cleaning equipment are primarily used in the metal cleaning industry for the decontamination of various components and parts. By washing type, the vapor phase metal cleaning equipment segment accounted for a relatively smaller market share in terms of both value as well as volume, as the adoption is not as much as the pickling/immersion type. The vapor phase metal cleaning segment is anticipated to reach US$ 503.1 Mn at a CAGR of 3.9% by 2027. In terms of technology, open tank multistage segment is anticipated to reach US$ 582.2 Mn at a CAGR of 3.9% by 2027. Open tank multistage segment is estimated to be the fastest growing segment during the forecast period. This is due to the benefits of using multistage equipment which offer all the stages involved in the cleaning process, such as washing and drying in one equipment. This leads to cost saving as well as process streamlining.