According to the latest report, titled “Metal Cleaning Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The Metal Cleaning Equipment Market is projected to grow from USD 1,494.2 million in 2021 to USD 1,888.7 million in 2028 at a CAGR of 3.4% in the 2021-2028, forecast period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Metal Cleaning Equipment Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Metal Cleaning Equipment Market.
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A few top players in the industry are–
- TIERRATECH (U.S.)
- MecWash Systems Limited (U.K.)
- SBS Ecoclean Group (Germany)
- Firbimatic Spa (Italy)
- Metalwash Ltd (U.K.)
- Rosler Group (Germany)
- Rippert Anlagentechnik GmbH & Co. KG (Germany)
- LS Industries (U.S.)
- Shenzhen Keepahead Ultrasonic Equipment Co., Ltd (China)
- Cemastir Lavametallisrl (Italy)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Metal Cleaning Equipment Market and the market concentration is described in the report.
On the basis of Geography, the Global Metal Cleaning Equipment Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Metal Cleaning Equipment Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Metal Cleaning Equipment Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Increasing Manufacturing Output in Leading Economies to Fuel Growth
The global manufacturing sector is surging ahead, with China, the US, and Japan leading the charge. According to the UN Statistics Division, China accounted for 28.4% of the total manufacturing output worldwide in 2018, followed by the US at 16.6% and Japan at 7.2%. Furthermore, the UN Industrial Development Organization (UNIDO) states that manufacturing output rose by 2.0% in the developing economies of Asia and the Pacific, powered by India’s growth in manufacturing by 2.9% and Indonesia’s by 3.8%. Manufacturing activities require the employment of huge machines and equipment that are generally made of different metals. These metals, if not cleaned and maintained properly, can quickly oxidize and rust, rendering themselves useless. Metal cleaning equipment and solutions are, therefore, essential in prolonging the shelf life of critical machinery in a factory, thereby making them cost-effective and energy-efficient.
Launch of New Products to be the Leading Growth Strategy for Key Players
Prominent players in this market are concentrating on developing inventive offerings to gain a decisive foothold in different industries. To achieve this, key companies are launching novel metal cleaning equipment and solutions that can be applied across industries and can be customized to serve the needs of niche applications as well.
An overview of the Metal Cleaning Equipment Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Government Promotion of Manufacturing to Favor Market Growth
The demand for and adoption of metal cleaning equipment are likely to be stoked by the aggressive promotion of manufacturing activities, especially in developing economies. For example, the Production-Linked Incentive (PLI) scheme announced by the Indian government under the 2021-22 Budget aims at creating global manufacturing powerhouses across 13 sectors over the next five years. The enormous production potential of India is also being tapped by global tech giants. In January 2021, for instance, Amazon India announced that it would commence the production of electronics in the country by the end of 2021. Even in developed countries, the manufacturing sector is being heralded as the beacon of development. In October 2020, for example, a USD 1.3 billion Modern Manufacturing Initiative was announced by the Australian Government to enable Australian producers to scale up, collaborate and commercialize their activities. Thus, the growing support from governments to manufacturing will play an instrumental role in brightening the prospects of this market.
Robust Demand for Metal Cleaning from Aerospace Sector to Propel the North America Market
North America is expected to command the metal cleaning equipment market share during the forecast period owing to the soaring demand for metal cleaning solutions from the region’s strong aerospace sector. Companies such as Lockheed Martin and Boeing are investing heavily in maintenance technologies to ensure the highest safety and reliability of their aircraft, which augurs well for this market. The market size in North America stood at USD 445.1 million in 2020.
In Asia Pacific, the market will be mainly driven by supportive government policies for the manufacturing sector. Meanwhile, in Europe, the adoption of metal cleaning equipment will be characterized by the growing demand for the removal of organic contaminants deposited on critical machinery.
- What is the driving factor for the growth of the Metal Cleaning Equipment Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Metal Cleaning Equipment Market?
- What is the major application area of the Metal Cleaning Equipment Market?
- Who are the Metal Cleaning Equipment Market manufacturers across the globe?
- Which geographical location is dominant in the Metal Cleaning Equipment Market?
- Which are the top industry players in the Metal Cleaning Equipment Market?
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