NEW
YORK, June 21, 2024 /PRNewswire/ -- The
global shot peening machines market size is estimated to
grow by USD 39.6 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 1.96% during the forecast period.
Need for superior-quality products is driving market
growth, with a trend towards adoption of robotic peening
machines in construction and maintenance activities.
However, second-hand, refurbished machines gaining popularity
poses a challenge. Key market players include AGTOS GmbH,
C.M. Surface Treatment Spa, Empire Abrasive Equipment, Engineered
Abrasives Inc., Guyson International Ltd., Innovative Peening
Systems, Kushal Udhyog, Norican Group, Pangborn LLC, Peening
Technologies Equipment Co., Progressive Surface Inc., Rosler
Oberflachentechnik GmbH, Shockform Aeronautique Inc., SIAPRO doo,
SINTOKOGIO LTD., SONATS, Superior Shot Preening and Coatings
International, Surface Blasting Systems LLC, Surface International,
and TOYO SEIKO Co. Ltd..
![Technavio has announced its latest market research report titled Global shot peening machines market 2024-2028 Technavio has announced its latest market research report titled Global shot peening machines market 2024-2028](https://mma.prnewswire.com/media/2443617/IRTNTR45370_bw_info_v4.jpg)
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Shot Peening
Machines Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
1.96%
|
Market growth
2024-2028
|
USD 39.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
1.9
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 47%
|
Key
countries
|
China, US, India,
Germany, and South Korea
|
Key companies
profiled
|
AGTOS GmbH, C.M.
Surface Treatment Spa, Empire Abrasive Equipment, Engineered
Abrasives Inc., Guyson International Ltd., Innovative Peening
Systems, Kushal Udhyog, Norican Group, Pangborn LLC, Peening
Technologies Equipment Co., Progressive Surface Inc., Rosler
Oberflachentechnik GmbH, Shockform Aeronautique Inc., SIAPRO doo,
SINTOKOGIO LTD., SONATS, Superior Shot Preening and Coatings
International, Surface Blasting Systems LLC, Surface International,
and TOYO SEIKO Co. Ltd.
|
Market Driver
Robotic shot peening machines are a valuable investment in
modern manufacturing and construction industries. These machines
offer increased efficiency and precision, minimizing human
intervention. Operators place the robot in the work area, allowing
it to create a virtual map for peening operations. Despite high
construction costs, these machines are expected to replace manual
equipment, reducing construction time and mitigating
hazards.
The shot peening machines market is experiencing significant
growth due to increasing demand for components with improved
surface finish and fatigue resistance. Corrosion resistant and
lightweight materials are gaining popularity in various industries,
leading to an increase in the usage of shot peening processes. The
market is witnessing advancements in technology, with the
integration of automation and computerized control systems.
Precision and consistency are key factors driving the market, as
these machines provide uniform peening and improve the overall
performance of components. Additionally, the market is witnessing a
trend towards larger capacity machines, as they offer increased
productivity and cost savings. The future looks bright for shot
peening machines, with continued innovation and demand expected in
the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The
second-hand shot peening machines market is expanding due to the
increased availability of used equipment from closed manufacturing
industries in the US and Europe.
Asian manufacturers, particularly in China, India,
and Vietnam, are eager to purchase
these refurbished machines at low prices. This trend poses a
challenge for new equipment manufacturers, as demand for new
machines may decrease due to the affordability of second-hand
options. European manufacturers are increasingly looking to
China as a destination for selling
their used shot peening machines.
• The Shot
Peening Machines market faces several challenges. These include the
need for high precision and consistency in the shot peening
process. The use of various materials and components in the
machines requires adaptability and versatility. Additionally,
ensuring the safety and maintenance of these machines is crucial.
The process involves high pressure and abrasive media, which can
cause wear and tear. Furthermore, the cost of these machines and
the energy consumption during operation are significant factors.
Lastly, ensuring the quality and uniformity of the shot peening
process is essential to meet customer requirements.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This shot peening machines market report extensively covers
market segmentation by
- Type
- End-user
- 2.1 Manufacturing
- 2.2 Construction
- 2.3 Energy
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Manual- The construction sector's expansion,
driven by industrialization, urbanization, and infrastructure
investment, fuels the demand for manual shot peening machines.
Major producers focus on new product development and technological
advancements through strategic alliances. The growing manufacturing
and construction industries offer lucrative opportunities for shot
peening machine manufacturers during the forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Shot Peening Machines Market encompasses the production and
sale of equipment utilized in the cold working process of various
materials, including metals and composites. These machines apply
plastic deformation to round metallic components through the impact
of spherical media, such as glass or ceramic particles. The
resulting surface properties exhibit increased resistance to
compressive stresses, enhancing the materials' mechanical
properties and reducing noise in modern motorcycles and
high-performance applications. Customization is a significant trend
in this market, catering to motorcycle enthusiasts and various
industries, including energy and construction. Automation and
adherence to quality standards are crucial factors in the
manufacturing process to mitigate corrosion and prevent stress
corrosion cracking.
Market Research Overview
The Shot Peening Machines market refers to the industry that
produces and supplies equipment used for the shot peening process.
This process involves blasting the surface of materials with small
metal shots to improve their mechanical properties, such as fatigue
resistance and hardness. Shot peening machines come in various
types, including rotary wheel machines, vibratory barrel machines,
and pneumatic cabinets. These machines are used in numerous
industries, including aerospace, automotive, and oil and gas, to
enhance the performance and durability of components. The market
for shot peening machines is driven by the increasing demand for
high-performance materials and components in various sectors.
Additionally, advancements in technology have led to the
development of more efficient and cost-effective shot peening
machines, further fueling market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- End-user
-
- Manufacturing
- Construction
- Energy
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio