iCrowd Newswire – Jul 16, 2020
Spray Gun Market size in 2019 is estimated to be $1.3 billion, growing at a CAGR of 3.6% during the forecast period 2020-2025. The spray gun is equipment developed from the airbrush which sprays paint on a surface by using air pressure. It is used to paint any type of surface such as wood, metal, stone, plastic, fabric. The airless spray gun is also used to apply paint uniformly on the surface and saves time. Rapid growth in automotive, healthcare, and furnishing industries and technological advancement are the major factors driving the growth of the market. Moreover, rising demand for luxury furnishing products further magnifies the overall market demand for spray gun during the forecast period 2020-2025.
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Product – Segment Analysis
Based on the product, the spray gun market is segmented into nitrogen spray guns and water spray guns. Each of these is further categorized as manual and automatic spray guns. The manual spray guns are forecast to be the fastest-growing segment and are estimated to grow at a CAGR of 3% during the forecast period 2020-2025. Manual spray guns are the most commonly used painting equipment in the automotive, pharmaceutical, and furnishing sectors. Low maintenance cost, excellent operator control, and quick color change capabilities are contributing to the growth of this segment.
End-User – Segment Analysis
Based on the end-user, the spray gun market is segmented into hospitals, pharmaceuticals, research and development centers, and others. In 2019, hospitals held the largest share in the spray gun market. This is owing to the increase in healthcare expenditure and the advancement of technology. Also, the rise in Covid-19 cases, infections, and communicable diseases spread in hospitals and medical centers have led to an increase in demand for spray guns for cleaning and disinfection of surfaces. Moreover, rapid growth in other sectors such as automotive, and furnishing industries is set to drive the demand for spray guns in the coming years.
Geography – Segment Analysis
North America dominated the spray gun market share accounting for 46% of the market in 2019. This is mainly owing to the rise in demand for a high-pressure spray gun in the automotive sector. North America distributes painting equipment for a variety of products and paints application. Manual spray guns and automatic spray guns are available in diverse configurations to suit a wide range of applications.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to advancement in technology and rising demand for luxury furnishing product.
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Drivers – Spray Gun Market
- Growth in Automotive and Furnishing Industries
Rising growth of automotive, healthcare, and furnishing industries are some factors driving the growth of the spray gun market. Spray guns are used in the healthcare industry for sterilizing and cleaning equipment. Moreover, rising demand for luxury and premium furnishing products are also set to increase the market growth.
- Technological Advancements
Technological Advancements and increase product innovation and launches are some factors driving the growth of the market. Moreover, the product produces a consistent finish that guards against contamination and clogging further contributing to the growth of the spray gun market.
Challenges – Spray Gun Market
The high cost of spray gun is challenging the growth of the market. Moreover, stringent Government regulation is further restraining the growth of the market. Also, limited control over fluid delivery further restraining its market growth during the forecast period 2020-2025.
- On 1 September 2015, 3M launches new low VOC Spray Adhesives that help them to meet air quality and environmental goals and offer a longer tack and finer spray pattern.
- On 12 March 2019, Nordson launches a new modular coating Gun controller which has calcimine that provides users with the flexibility to control both traditional venturi spray gun application and dense spray gun application.
- In 2019, North America dominates the spray gun market owing to the rise in demand for high-pressure spray guns in the automotive sector.
- Rapid growth in automotive, healthcare, and furnishing industries and technological advancement is driving the market growth of spray guns.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the spray gun market report.
- The high cost of the spray gun and strict government regulations are challenging the growth of the market.
Spray Gun Industry Outlook
Product launches, Merger & Acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Spray Gun Market. Spray Gun top 10 companies are 3M Co., Anest Iwata Corp., Carlisle Companies Inc., EXEL Industries, Fuji Industrial Spray Equipment Ltd., Graco Inc., J. Wagner GmbH, Nordson Corp., SATA GmbH & Co. KG, and Zhejiang Auarita Pneumatic Tools LLC.
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