Painting tools market to witness remarkable gains from the automotive applications, spray guns to prominently drive the product landscape
Considering the remarkable contribution of paints & coatings across myriad industrial domains, painting tools market is gaining popularity across the construction, automotive, packaging, and wood coatings sectors to fulfil the requirement of aesthetics via paint application. The advent of automation and the numerous technological advancements coming to the fore by the day have led to the introduction of improved painting techniques. For instance, various automotive giants have of late, attempted to implement robot assisted paint shops, subject to the complications arising in the manual painting process. In addition, robotic painting also reduces the elements of excess labor and toxicity, owing to which companies have been trying to invest in and commercialize robots for industrial painting, thereby augmenting painting tools market share. Such advancements in the operational processes may lead to an increase in productivity and enable convenient utilization of painting techniques, thereby boosting painting tools industry outlook over the years ahead.
North America Painting Tools Market, By Product, 2018 & 2025, (USD Million)
Growing industrialization and urbanization across the various regions of the globe are likely to fuel the demand for painting tools. Brushes, rollers, gun sprays, etc., are some of the crucial and commonly used painting tools. Various regional governments and private organizations across the globe have been investing heavily in infrastructure developments, subject to the requirement for paints that will prevent chemical attacks, abrasion, and enable protection from UV rays. Nowadays, different types of coatings are available for different kinds of surfaces, which necessitates the requirement of various types of tools. Increasing usage of paints is thus, likely to favor global paints and coatings market, and by extension, will impel painting tools industry share noticeably.
Painting tools market share from construction applications is predicted to witness a CAGR of 6% over 2019-2025, owing to the increasing industrialization and escalating housing need of the rapidly growing population. As per Global Market Insights, Inc., “Worldwide painting tools market will generate a revenue of more than USD 15 billion by 2025.”
Apart from the construction, the product finds applications in the automotive sector as well. Various automotive manufacturing companies such as Audi, Volkswagen, Opel, BMW, and Mercedes-Benz have been using painting tools to improve the appearance of the vehicle via painting. The products are prominently used across Europe, since the region has a strong base of automotive giants. Statistics claim Europe painting tools industry to have garnered a revenue of USD 2 billion in 2018.
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Industrial painting is a rather complex process and requires the usage of highly efficient tools. Painting tools industry giants have been focusing on development of eco-friendly and efficient spraying tools of late, to ease the process of painting. In fact, the electrostatic manual spray gun is one of the emergent technological advancements in spraying tools. With the introduction of new advanced materials such as the Graco designed FRP based spray gun, which is light, reliable, and low maintenance, the complications in the painting process for automobiles has considerably been reduced. Reportedly, spray guns held more than 20% of the painting tools product landscape in 2018, largely driven by their applications in automotive sector.
Industry giants are engaging in strategic collaborations and mergers & acquisitions to widen their customer base across numerous geographies. The key players in painting tools market are Braun Brush Co., Gordon Brush, Richard Tools, EPOS Egypt, Dura Paints, Purdy®, Milton Brushware, MAAN, Mill-Rose Company, Nespoli Group S.p.A, USA Tools, Anderson Products, Shawky Brush & Roller Factory, Harbor Freight Tools, Makinah, and Allway Tools, Inc.
Author Name : Sunil Hebbalkar
The concept of ‘smart’ world is being realized at all levels, right from the giant industries to our very own houses. Kitchen, which is the most important part of a home, has also been significantly influenced by the revolutionary trend of the internet of things. This can be well justified by the growing market of kitchen appliances, which is already a billion-dollar industry and is all set to achieve new heights over the coming years. As per a report by Global Market Insights, Inc. “the kitchen appliances market share worth USD 179 billion in 2015, is forecast to surpass a revenue of USD 250 billion by 2023.”The technology has embarked its prominent presence in this market. The manufacturers dealing with the kitchen appliances business space are investing heavily in blending technology with these appliances. Not only the big-ticket products such as refrigerators, but also the smaller devices are being worked on to stay in parallel with the hi-tech advancements and the rising demand for convenient and smart products from the consumers.
Europe kitchen appliances market size, by application, 2012 – 2023 (USD Billion)
The race to win this technology embarked era has already been well started by some of the key manufacturers in this industry. For instance, a recent announcement by LG regarding its HomeChat Service gained a lot of traction by the media worldwide. This concept is based on linking the indispensable kitchen appliances such as refrigerators and ovens to the smartphones, wherein the latter can be used by the users to send messages to these appliances.
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Moreover, another announcement by Samsung on 4th May 2016, made to a big headline and shook the market with a sense of tough competition lying ahead. This was about its new product- ‘Family Hub smart fridge’ which is equipped with all the latest technologies such as camera which enables the fridge to check within itself, touchscreen, games, Wi-Fi, etc. to enhance the user experience. Various other leading players are also participating in this race such as Haier, Electrolux, Philips, Panasonic, etc. Moreover, the increasing market will also hold a wide set of opportunities for the hardware vendors as well as for the startups in this space, provided they are well advanced in terms of technological aspects.
The rising fuel prices is also building high growth opportunities for the kitchen appliances market, owing to the growing demand for induction devices. Both the residential and the commercial sectors contribute significantly towards this market growth. The increasing number of restaurants globally is boosting the commercial applications of the kitchen devices market, which is estimated to witness a CAGR of 4.6% over 2016-2023. Also, the rising demand for automation and replacement of old devices will drive the residential application market share. The kitchen appliances application in residential sector is forecast to surpass USD 150 billion by 2023.
The rising concerns pertaining to the environment and optimum energy utilization has boosted the demand for gas appliances, which holds a major share in the kitchen appliances market. Refrigerators, which are the most common yet vital part of the kitchen also contribute towards a noticeable share of this market. The global refrigerator market is forecast to surpass a revenue of USD 105 billion by 2023.
The improvement in the economy is also boosting the global kitchen appliances market size. The Asia Pacific market is estimated to cross USD 75 billion by 2023, owing to the rise in disposable income and growing population base across this region. India & China are likely to lead the APAC market.
The manufacturers are expanding their reach by tying up with various distributing channels such as retail stores, third party suppliers, etc. In this respect, e-commerce has also come up as a significant distributing channel due to the competitive pricing of these products as well as the convenience offered by these portals like home delivery, easy return policy, etc. The industry though is not yet completely transformed by the IoT revolution, but is surely to see some smart developments in the near future.
Author Name : Shikha Sinha