Paint Spray Guns Market Share, Technology, Development, Trends and and Forecast by 2031
The Paint Spray Guns Market Share is estimated to reach $2.26 billion by 2031
The Paint Spray Guns Market Share was valued at $1.53 billion in 2021, and is estimated to reach $2.26 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Commonly observed types of paint spray gun are airless, compressed air, HVLP (high volume low pressure), LVLP (low volume low pressure), and electrostatic.
Key companies profiled in the paint spray guns market forecast report include 3M, Anest Iwata, Asahi Sunac, Auarita, DSTech Co., Ltd., EXEL Industries, FUSO SEIKI, Graco Inc., J. Wagner, Lis Industrial, NingBoNavite, Nordson, Prowin Tools, SATA GmbH & Co. KG, Titan Tool Inc., Tritech Industries, Inc., and Zhejiang Rongpeng Air Tools Co., LTD.
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Among these, the HVLP segment accounted for the highest market share in 2021, owing to its wide usability. The market is analyzed with respect to different technology types, such as automatic, and manual. Among these the manual segment accounted for a high revenue share in 2021. The market is mainly driven by rise in construction and maintenance of residential and non-residential buildings. Furthermore, on the basis of end-user industry, the manufacturing segment is anticipated to witness rapid growth during the forecast period, owing to rise in demand for manufactured products, owing to an increase in disposable income. However, requirement of external power source by the paint spray gun restraints the paint spray guns market growth.
Region wise, Asia-Pacific held the largest paint spray guns market share in 2021, in terms of revenue, followed by North America and Europe. Moreover, the market in LAMEA is anticipated to grow with high CAGR, owing to mostly untapped market.
The advancements in paint spray guns have significantly increased the usability of paint spray gun. Introduction of paint spray guns that are light in weight and incorporation of microprocessors for smart controls are anticipated to provide lucrative opportunities for the market growth.
For instance, in October 2021, 3M India, introduced a paint spray gun that is approximately 50% lighter as compared to other offerings in the segment. It incorporates an impact-resistant, stainless steel-reinforced composite body, which makes it the lightest spray gun in the world in its segment. This is expected to make it easier for the operator to paint with less strain.
However, during the pandemic lockdown, various manufacturers in the paint spray guns market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of paint spray gun manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for paint spray guns; and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
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