Paint Process Automation Market to Garner $9.22 billion by 2030, Driven by Cost-Effective Painting Processes

Paint process automation market size was valued at $3.34 billion in 2020, and is projected to reach at $9.22 billion by 2030, growing at a CAGR of 11.7% during the forecast period. Asia-Pacific contributed major share in the paint process automation market, accounting for more than 12.6% share in 2020.

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Paint process automation is an advanced method of painting or coating products and equipment. It generally uses robots to achieve accurate and consistent paint finish quality. These robots are programmed to operate with minimal human interference. Paint process automation outweighs drawbacks of manual painting methods. Therefore, to increase the safety of the worker, automated paint systems are specifically designed. In addition, the robotic automation systems are more precise while painting, therefore, they result in dispose of less hazardous waste.

Some of the prime drivers of the paint process automation industry are consistent painting results, cost-effective painting processes, and ability to meet industry-specific needs. These factors are estimated to propel the market growth rapidly during the forecast period. However, high installation cost acts as a major barrier for the paint process automation market growth. Contradictory, integration of advanced technologies with paint processes and its ability to meet sustainable goals create lucrative opportunities for the market growth during the forecast period.

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The significant impacting factors for the growth of the paint process automation market include increase in demand for higher efficiency, rise in production of automobile parts, and improve safety in hazardous painting work environments. In addition, the restraining factor by which the market is influenced include high installation cost. Each of these factors is anticipated to have a definite impact on the paint process automation market during the forecast period.

The report segments the global paint process automation market on the basis of offering, purpose, type, vertical, and geography.

Based on offering, the hardware segment held the lion's share in 2020, accounting for more than two-thirds of the market. However, the services segment is projected to register the highest CAGR of 13.4% during the forecast period.
The hardware segment was the highest contributor to the market in 2020, owing to high cost of production. The interior segment have prominent share in the market in 2020, owing to its ability for precise and high-quality results for intricate parts. In vertical, the automotive segment attributed maximum market share in 2020, owing to higher rate of adoption of automation in manufacturing facilities. In addition, wall-mounted painting robots had significant market share in 2020, owing to the limitation of space available at facilities.

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On the basis of purpose, the exterior segment held the largest share in 2020, contributing to around half of the market. However, the interior segment is anticipated to manifest the highest CAGR of 12.4% from 2021 to 2030.

The global paint process automation market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, accounting for more than half of the market. Moreover, the region is estimated to portray the highest CAGR of 12.6% during the forecast period.

The key players profiled in the report include ABB, CMA Robotics, DURR AG, Epistolio robot, FANUC AMERICA CORPORATION, Graco Inc., KAWASAKI HEAVY INDUSTRIES LTD., KUKA Aktiengesellschaft, Staubli International AG, and YASKAWA ELECTRIC PTE LTD. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the industry.

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Key Findings Of The Study
• In 2020, the hardware segment accounted for maximum revenue and is projected to grow at a notable CAGR of 11.1% during the forecast period.
• The interior segment accounted for more than 45% of the paint process automation market share in 2020.
• The automotive segment of the paint process automation market is projected to grow at a CAGR of 9.4% during the forecast period.
• Asia-Pacific contributed major share in the paint process automation market, accounting for more than 12.6% share in 2020

KEY MARKET SEGMENTS
By Application
• OEM
• Tier 1
• Large Object
• General Industry
• Others

By Purpose
• Interior
• Exterior

By Verticals
• Automotive
• Aerospace
• Construction
• Others

By Type
• Floor-mounted Painting Robot
• Wall-mounted Painting Robot
• Rail-mounted Painting Robot
• Others

BY REGION
• North America
• Europe
• Asia-Pacific
• LAMEA

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