Metal Cleaning Equipment Market to Hit USD 1,888.7 Million by 2028; Promising Advancements in Precision Engineering to Boost the Market: Fortune Business Insights™

List of the Companies Profiled in the Market: Cemastir Lavametalli Srl (Italy), LS Industries (United States), Rosler Group (Germany), Firbimatic Spa (Italy, MecWash Systems Limited (United Kingdom), Shenzhen Keepahead Ultrasonic Equipment Co., Ltd (China), Rippert Anlagentechnik GmbH & Co. KG (Germany), Metalwash Ltd (United Kingdom),m SBS Ecoclean Group (Germany), TIERRATECH (United States)

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Pune, India, July 07, 2021 (GLOBE NEWSWIRE) -- The global metal cleaning equipment market size is projected to reach USD 1,888.7 million by 2028, exhibiting a CAGR of 3.4% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Metal Cleaning Equipment Market Size, Share & COVID-19 Impact Analysis, By Chemical Type (Solvent & Aqueous), By Operation Mode (Fully-Automatic, Semi-Automatic, & Manual), By Application (Automotive & Aerospace, General Manufacturing & Others) and Regional Forecast, 2021-2028”, which states that the market’s value stood at USD 1,446.5 million in 2020 and is expected to touch USD 1,494.2 million in 2021.

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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.

COVID-19 Pandemic

The metal cleaning equipment market growth has stumbled amid the COVID-19 pandemic due to the sharp downturn in global manufacturing operations. For example, according to the UNIDO, global manufacturing output fell steeply by 11.2% in 2020. Recovering from the economic fallout of this pandemic will most certainly be a difficult process and it will take a considerable amount of time for the manufacturing sector to return to its pre-pandemic levels of activities. The market, as a result of this sudden turn of events, grew at a meager 2.2% in 2020.

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Segmentation

By chemical type, the market has been bifurcated into solvent and aqueous.

Based on operation mode, the market is segmented into fully automatic, semi-automatic, and manual. The fully automatic segment held a market share of 32.0% in 2020.

On the basis of application, this market is divided into automotive & aerospace, general manufacturing, and others.

In terms of region, the market has been segregated into North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific.

What Does the Report Offer?

The report offers a concise analysis of the impact of the COVID-19 pandemic on the market, as well as an exhaustive evaluation of the factors driving the market trends, size, share, and growth. In addition, the report contains a comprehensive examination of the market segments, along with a careful study of the regional prospects and competitive outlook of the market.

Driving Factor

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.

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Regional Insights 

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.

Competitive Landscape

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.

Industry Development

  • March 2020: Firbimatic announced the release of SFK 50, a modified alcohol-based degreasing solution for precision metal components. The product has been specifically configured to cater to the metal cleaning requirements of UTC / Collins Aerospace of Rockford, the American aerospace industry giant.

List of Key Players Covered in this Market Report:

  • Cemastir Lavametalli Srl (Italy)
  • LS Industries (United States)
  • Rosler Group (Germany)
  • Firbimatic Spa (Italy)
  • MecWash Systems Limited (United Kingdom)
  • Shenzhen Keepahead Ultrasonic Equipment Co., Ltd (China)
  • Rippert Anlagentechnik GmbH & Co. KG (Germany)
  • Metalwash Ltd (United Kingdom)
  • SBS Ecoclean Group (Germany)
  • TIERRATECH (United States)

                                                                             

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Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Leading Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Global Metal Cleaning Equipment Market Share Analysis and Matrix, 2020
  • Key Market Insights/ Summary
  • Profiles of Key Players (Would be provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
    • Recent Developments
  • Annexure / Appendix
    • Global Metal Cleaning Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Chemical Type (Value)
        • Solvent
        • Aqueous
      • By Operation Mode (Value)
        • Fully-Automatic
        • Semi-Automatic
        • Manual
      • By Application (Value)
        • Automotive & Aerospace
        • General Manufacturing
        • Others (Pharmaceutical, Medical etc.)
      • By Region (Value)
        • North America
        • Latin America
        • Europe
        • Middle East & Africa
        • Asia Pacific
    • North America Metal Cleaning Equipment Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Chemical Type (Value)
        • Solvent
        • Aqueous
      • By Operation Mode (Value)
        • Fully-Automatic
        • Semi-Automatic
        • Manual
      • By Application (Value)
        • Automotive & Aerospace
        • General Manufacturing
        • Others (Pharmaceutical, Medical etc.)
      • By Country (Value)
        • U.S.
        • Canada

TOC Continued.

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