New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The global Shot Blasting Machine Market is expected to witness significant growth at a remarkable CAGR of 4.2% during the forecast period of 2023-2030. The factors such as the increasing development of new aircraft manufacturing facilities, growth in the investment of new construction projects, and others are accelerating the demand for shot blasting machines, which, in turn, is boosting the market growth. In addition, the rising development of a new range of shot blasting machine product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the shot blasting machine market is poised for strong expansion and is expected to reach USD 1,733.26 Million by 2030. The market, which was valued at USD 1,257.60 Million in 2022, is predicted to grow at a compound annual growth rate of 4.2% during the period 2023-2030. The report highlights the increasing adoption of shot blasting machines in the automotive industry, which is supplementing global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the shot blasting machine market.
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The shot blasting machine is majorly employed in the automotive industry to eliminate the stress on the metal plate. The metal plates are deployed in automotive vehicles such as light commercial vehicles, passenger cars, and heavy commercial vehicles. The rising utilization 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 Organization International 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 booming automotive industry is a prime factor boosting the demand for shot blasting machines at the global level to ensure efficient anti-rust treatment. This, in turn, is driving the shot blasting machine market growth.
Likewise, metal parts and components must be designed with exact and even finishes to meet the highly demanding specifications and tolerances in the aerospace industry. Thus, 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. The development of new aircraft manufacturing facilities, increasing production capabilities for aircraft, and others will drive the future growth of the aerospace industry. Thus, the future growth of the aerospace industry will boost the demand for shot blasting machines for the production of new components. As a result, creating a favorable growth opportunity for the shot blasting machines market during the projected forecast period.
Global Shot Blasting Machine Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 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 |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, 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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Global Shot Blasting Machine Market Segmentation Details:
Based on Product Type, the wheel blasting segment contributed the largest shares to the market growth in 2022. The prominent advantages related to wheel blasting include superior speed, excellent efficiency, and the ability to blast larger objects. Thus, wheel blasting is an ideal product for various end-use industries such as automotive, mining, industrial, and others to ensure minimum dirt remains at the end of the cleaning process. Thus, due to the above benefits, the adoption of wheel blasting is increasing at the global level ensuring superior speed. This prominent factor is propelling segment growth.
Based on Mode of Operation, the automatic segment accounted for the largest market share in the year 2022. The vital benefits related to automatic shot blasting machines include reduced labor costs, increased productivity, 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. Henceforth, the increasing adoption of automatic shot blasting machines in the above end-use industries is amplifying segment growth.
Based on End-use Industry, the automotive segment accounted for the largest market share in the year 2022. The shot blasting machine ensures anti-rust treatment. This feature eradicates the stress of the steel plate and eliminates the welding slag. Thus, the shot blast machine is employed in automotive chassis, steel frames, and others. These products are ideal for automotive products such as passenger cars, electric vehicles, trucks, buses, and others. The development of infrastructure projects, expansion of public transportation, and others are prime trends propelling the demand for commercial vehicles. These factors are contributing to the growth of automotive production. Therefore, the advancement of the automotive industry is favoring the demand for shot blast machines to eliminate the rust layer in automobiles thereby boosting market growth.
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the growth of the automotive industry in the 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 Asia Pacific automotive vehicle production was 46,768,800 units, and in 2022, it was 50,020,793 units, an increase of 7% over 2021. Hence, the growth of the automotive industry in the Asia Pacific region is fueling the demand for shot blasting machines to remove corrosion, which, in turn, is augmenting the market growth in the region.
Competitive Landscape
As per the research, Rosler Oberflachentechnik GmbH, AGTOS GmbH, Goff Inc, and Shandong Kaitai Shot-blasting Machinery Co.Ltd are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of shot blasting machines. Further, the shot blasting machine market is expected to grow steadily due to rising demand from the automotive sector, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing partnerships between the shot-blasting machine companies is expected to increase competition in the market.
Recent Developments
- In December 2022, Norican Group, a Denmark-based manufacturer of shot blasting machines formed a strategic collaboration with Wuxi Xinan Technology Co., Ltd., a manufacturer in China. Norican Group will provide solutions, including shot blasting machines to Wuxi Xinan Technology Co., Ltd. Hence, the new strategic collaborations will propel the market growth in the coming years.
- In June 2022, AGTOS Gesellschaft Fur Technische Oberflachensysteme GmbH, a leading manufacturer in Germany that offers shot blasting machines expanded its product offering for shot blasting machines in France. Hence, the sales expansion of shot blasting machines will favor the revenue growth of the market in the upcoming years.
- In July 2021, Gienanth GmbH, a leading supplier of iron casting formed a partnership with Rösler Oberflächentechnik GmbH to install a Rösler wire mesh belt blast machine named RDGE 1250/300-8. Therefore, the increasing partnerships will foster market growth in the long run.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 38.35% and was valued at USD 482.29 million in 2022, and is expected to reach USD 669.91 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 22.50% during the base year of 2022.
- Based on product type, the wheel blasting segment accounted for the highest share contribution to the shot blasting machine market statistics in 2022.
- In the context of mode of operation, the automatic segment is expected to contribute significant shares to the growth of shot blasting machine market statistics during the forecast period.
- On the basis of end-use industry, the automotive segment is expected to contribute significant shares to the growth of shot blasting machine market statistics during the forecast period.
- Europe is expected to boost the market demand for shot blasting machines due to the increasing investments in new aerospace facilities in countries such as United Kingdom, Germany, and others.
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List of Major Global Shot Blasting Machine Market:
- Rosler Oberflachentechnik GmbH
- AGTOS GmbH
- Goff Inc
- Shandong Kaitai Shot-blasting Machinery Co.Ltd
- Pangborn Group
- SIAPRO
- Sintokogio Ltd.
- Norican Group
- MEC SHOT
- Surface Finishing Equipment Company
Global Shot Blasting Machine Market Segmentation:
- By Product Type
- Wheel Blasting
- Air Blasting
- Others
- By Mode of Operation
- Manual
- Automatic
- Semi-Automatic
- By End-use Industry
- Automotive
- Aerospace
- Construction
- Marine
- Locomotive
- Others
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Frequently Asked Questions in the Shot Blasting Machine Market Report
- What was the market size of the shot blasting machine industry in 2022?
- In 2022, the market size of shot blasting machine was USD 1,257.60 million.
- What will be the potential market valuation for the shot blasting machine industry by 2030?
- 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?
- The booming automotive industry is propelling the shot blasting machine market growth.
- What is the dominating segment in the shot blasting machine market by product type?
- In 2022, the wheel blasting segment accounted for the highest market share of 41.65% in the overall shot blasting machine market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the shot blasting machine market?
- Asia Pacific accounted for the highest market share in the overall shot blasting machine market.
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