Portland,OR, March 16, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automatic shot blasting market was valued at $753.3 million in 2021, and is projected to reach $1.2 billion by 2031, registering a CAGR of 4.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 | |
| Base Year | 2021 | |
| Market Size in 2021 | $753.3 Million | |
| Market Size in 2031 | $1.2 Billion | |
| CAGR | 4.6% | |
| No. of Pages in Report | 220 | |
| Segments Covered | Product Type, Business Type, End User Industry, and Region. | |
| Drivers | Growth in manufacturing industries | |
| Rapid industrialization in emerging economies and rise in demand for high capacity of automatic shot blasting machines | ||
| Restraints | Competition from domestic manufacturers | |
| Opportunities | Increase in investments on automation in emerging countries |
Covid-19 scenario-
- Several restrictions on industrial activities during the pandemic impacted the global automatic shot blasting market negatively.
- The automatic shot blasting machines demand decreased due to stoppage in the operation of various manufacturing companies in aerospace, construction, automotive and other sectors.
- The supply chain of raw material of automatic shot blasting machines was hampered during the outbreak of the pandemic. This led to disperuption of the automatic shot blasting machines market and eventually retrained the growth of the market.
- However, the market recovered by the end of 2021.
The global automatic shot blasting market is analyzed across product type, business type, end user industry, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By product type, the hanger segment held the largest share in 2021, garnering more than two-fifths of the global automatic shot blasting market revenue, and is projected to maintain its dominance by 2031. The continuous through-feed, on the other hand, would showcase the fastest CAGR of 6.22% during the forecast period.
By business type, the new sales segment contributed to nearly three-fifths of the global automatic shot blasting market share in 2021, and is projected to rule the roost by 2031. Aftermarket segment would display the fastest CAGR of 5.32% throughout the forecast period.
By end user industry, the metalworking segment accounted for the highest share in 2021, generating around one-fourth of the global automatic shot blasting market revenue. The shipbuilding segment would portray the fastest CAGR of 5.52% during the forecast period.
By region, the market across Asia-Pacific held the major share in 2021, garnering more than half of the global automatic shot blasting market. LAMEA, on the other hand, would showcase the fastest CAGR of 5.73% from 2022 to 2031.
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Leading Players:
The key market players analyzed in the global automatic shot blasting market report include GTOS GmbH., Blastclean System Pvt. Ltd, Goff Inc., Norican Group, Qingdao Qinggong Machinery Co. Ltd., Rösler Oberflächentechnik GmbH, Sintokogio Ltd., STEM d.o.o., Siapro d.o.o., and Shandong Kaitai Group Co. Major companies in the market have adopted product launch, collaboration acquisition and partnership as their key developmental strategies to offer better products and services to customers in the automatic shot blasting machines market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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