Paint Sprayer Market Forecast and CAGR
According to the latest research study by Fact.MR, Paint Sprayer industry is projected to witness the growth of higher single-digit CAGR over the forecast period (2021-2031). Demand for paint sprayer will be mainly driven by the industries such as automobile, construction, marine and manufacturing. However, the growing trend of DIY (Do It Yourself) activities are projected to drive the paint sprayer segment.
What is Driving Demand for Paint Sprayer?
The global coatings & paint industry has emerged as the major driver for the paint sprayer. Additionally, rapid urbanization, an increasing number of industrial units and penetration of passenger cars is driving the sprayer demand.
Furthermore, the intrinsic characteristics such as speed, even coating and varied designs have led sprayer to be the preferred choice over paintbrushes.
Moreover, end-use industries such as automotive, construction, architecture (decorative), OEMs (Original Equipment Manufacturer) have adopted the use of paint sprayer in place of traditional tools which is driving the market growth at a rapid pace.
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Automotive Sector to Bolster the Paint Sprayer Market
The growing trend of automobile renovation and custom paint patterns is encouraging manufacturers to use customized and easy to use paint sprayers for better delivery and high precision. Additionally, consumers are adopting high-quality coating solution to improve the aesthetic look of their cars which calls for the use of advanced paint sprayers hence increasing its demand in the long run.
Moreover, the growing demand for passenger cars in countries like China and India coupled with growing disposable income is projected to bolster the growth of paint sprayer in the region.
Asia Pacific Paint Sprayer Market Outlook
The Asia Pacific accounts for the world’s largest coating industry with a global value share of 45%, out of which China accounts for more than 60% of the Asia Pacific coating market followed by India and Japan. Additionally, the decorative segment accounts for the major part of the paint industry and with a growing trend of DIY activities paint sprayer sales will see a significant surge in the region.
The growth of the decorative segment in the Asia Pacific region is a major boost to the paint sprayer industry and this can be attributed to the rapid urbanization and nuclearization of families, reduction in brush repainting, boost in housing schemes and rising disposable income.
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Europe Paint Sprayer Market Outlook
The architectural industry is the potential driver for the growth in demand for a paint sprayer. Additionally, developments in the construction sector coupled with robust economic growth had major implications on the growing demand for a paint sprayer.
Moreover, soaring investments in real estate coupled with favourable government policies have bolstered the growth of the industry. For instance, European Central Bank’s ultra-low interest rates have opened the gateway for new construction paving the way for the paint & coating market. Furthermore, the German government's plan to construct 1.5 million housing units by the end of 2021 has given a promising push to the European paint and coating segment.
Aforementioned factors are projected to consequently drive the paint sprayer market over the forecast period
Who are the Key Manufacturers and Suppliers of Paint Sprayer?
Some of the leading manufacturers and suppliers of paint sprayer are
- BLACK+DECKER Inc.
- ECCO FINISHING
- Fuji Spray
- Shanghai Telansen
- Walther Pilot
The aforementioned players are mainly relying on organic growth strategies such as product launches and R&D developments to expand their overall market share. For instance, Wagner, a leader in paint applicator announced the launch of FLEXiO 4300, a versatile paint sprayer that can cover a variety of indoor and outdoor projects such as furniture, cabinets and larger projects like decks, fences and walls. Moreover, the paint sprayer industry is moderately consolidated with prominent players holding a chuck of the total share.
An Adaptive Approach to Modern-day Research Needs
Paint Sprayer Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Conventional Sprayers
- High Volume Low-Pressure Sprayers
- Airless Sprayers
- Light Commercial
- Heavy Commercial
- Moderate Commercial
- General Metal Finishing
- Wood Finishing
- Plastic Finishing
By Distribution Channel
- Modern Trade Channels
- Direct to Customer
- Third-Party website
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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