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The Global Shot Peening Machines Market size is estimated to grow by USD 39.14 million from 2023 to 2027 and the market’s growth momentum will accelerate at a CAGR of 1.97%. The growth of the market depends on several factors, including the need for superior-quality products, the dynamic metal fabrication market poised for growth, and significant demand from the growing aerospace sector.
This market research report extensively covers market segmentation by Type (manual and automatic), End-user (manufacturing, construction, and energy), and Geography (APAC, North America, Europe, Middle East and Africa, and South America.) It also includes an in-depth analysis of drivers, trends, and challenges.
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The market research report includes the adoption lifecycle, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Shot Peening Machines Market Customer Landscape
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Driver
Significant Trend
Major Challenge
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Sintokogio Ltd. - The company operates under multiple segments, including foundry, surface treatment, and others, with a high focus on surface treatment. Under this segment, the company offers surface treatment equipment for application on a wide range of materials, such as metal, resin, rubber, wood, and stone. The company's key offerings include shot peening machines with technologies, such as deburring, cleaning, etching, polishing, and chipping.
Pangborn - The company offers shot peening machines such as spring peening, wings peening, rain wheels peening, and shaft peening machines. Additionally, the company offers superior shot peening equipment and blast cleaning solutions along with best-in-class solutions, parts, and services to its customers across a variety of industries such as marine, infrastructure, and rail among others.
The shot peening machines market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.
The market share growth by the manual segment will be significant during the forecast period. The manual segment showed a gradual increase in market share with USD 196.78 million in 2017 and will continue to grow by 2021. The need for manual shot peening machines will be fueled by the ongoing expansion of urban areas and the global construction market. Rapid industrialization has led to increased urbanization, and major public investments in infrastructure projects are all contributing to the growth of the construction industry. For residential and commercial projects, important construction companies are also investing more money in high-quality building materials and technology.
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Strategic alliances are being employed by major vendors in the market to boost their ability to generate new products and upgrade technology. As a result, it is estimated that the market for shot peening machines will continue to expand over the course of the projection period as a result of the regular launch of new products and active R&D initiatives. During the forecast period, the rise of prospective end-user industries, including manufacturing and construction, will present profitable growth prospects for the vendors of manual shot peening machines.
APAC is projected to contribute 47% by 2027. Technavio’s analysts have explained the regional trends and drivers that shape the market during the forecast period.
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During the forecast period, APAC, with a positive outlook, is expected to hold on to its dominant position as the global manufacturing hub. The manufacturing sector in APAC is expected to expand robustly, supported by demand in domestic regions and improved operating conditions. A huge domestic market and rapid increase in per capita and disposable incomes will generate opportunities for significant growth in sales of manufactured goods in the region. To tackle traditional investment roadblocks, reform measures are being taken in India. The current Indian administration is undertaking reforms that are much more relaxed and which will reduce the entry barriers for manufacturing organizations.
The outbreak of COVID-19 in the region hampered the growth of the regional shot-peening machines market in 2020. However, lockdown restrictions were lifted, and industrial activities resumed in 2021 as vaccines were introduced, owing to the initiation of vaccination drives in the region. This mitigated the threat of COVID-19 to a large extent and aided in the resumption of manufacturing activities, thereby driving the production and subsequent sales of shot peening machines in the region. The resumption of operations in end-user industries, such as construction and manufacturing, will lead to an increase in the demand for shot-peening machines during the forecast period. Vendors in the market are focused on investment in R and D to offer more technologically advanced equipment. Due to all such factors, the regional shot peening machines market is anticipated to witness significant growth during the forecast period.
The shot peening machines market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Shot Peening Machines Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.97% |
Market growth 2023-2027 |
USD 39.14 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
1.89 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, India, South Korea, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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 dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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