Rising Sales of Automobiles Fueling Demand for Metal Finishing Equipment

With the mushrooming sales of automobiles, especially in emerging economies such as India, Mexico, Indonesia, and China, the automotive industry is exhibiting huge expansion, which is pushing up the demand for metal finishing equipment and solutions. This is because metal finishing solutions are required for improving the life of automobile components and systems, such as power steering systems, under-the-hood components, brake parts, air conditioning components, fuel systems, and chassis hardware, as they are highly vulnerable to corrosion because of snow and rain and this can eventually cause their premature failure.

Likewise, the manufacturing of aircrafts and their components are governed by various critical parameters, out of which, quality is the most essential. These parts are required to be incredibly reliable in nature, as their failure can cause the loss of human life and capital. Due to this reason, many international aviation safety organizations are making metal finishing necessary for aerospace components. The use of titanium alloy-based plating and titanium is one of the most commonly used metal finishing techniques for aerospace parts and components. 

Besides the aforementioned factors, the surging sales of jewelry and consumer electronics, on account of the growing disposable income of people, are also positively impacting the advancement of the metal finishing equipment market. As a result, the value of the market is predicted to grow from $13,845.6 million in 2019 to $19,554.7 million by 2030, while the market is expected to progress at a CAGR of 4.2% from 2020 to 2030. 

This will be because of the soaring requirement for large and small parts of vehicles to be stress-relieved, defect- and blur-free, and smooth. Globally, the Asia-Pacific (APAC) region will be the fastest growing region in the metal finishing equipment market in the coming years, as per the estimates of the market research firm, P&S Intelligence. This is attributed to the surging investments being made in the industrial sector by several multinational companies in the region.

Hence, the demand for metal finishing equipment will surge sharply in the upcoming years, mainly because of the soaring sales of automobiles, expansion of the aerospace industry, and the ballooning usage of consumer electronic products.

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