Paint Spray Guns Market to Reach $2.3 Billion, Globally, by 2032 at 3.6% CAGR: Allied Market Research

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Mar 31, 2023, 10:15 ET

PORTLAND, Ore., March 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Paint Spray Guns Market by Product Type (Airless, Pneumatic, HVLP, LVLP, Electrostatic), by Technology (Automatic, Manual), by End User Industry (Automotive, Construction, Manufacturing, Other): Global Opportunity Analysis and Industry Forecast, 2021-2032." According to the report, the global paint spray guns industry generated $1.5 billion in 2021, and is estimated to reach $2.3 billion by 2032, witnessing a CAGR of 3.6% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

Growing building construction sector owing to rise in population and urbanization and surge in growth of the manufacturing sector due to the rise in disposable income of people across the world drive the growth of the global paint spray guns market. However, a spray gun emits a high- or low-pressure paint mist or spray. To atomize the paint, a power source from outside is needed. Also, after each use, a spray gun needs to be maintained and cleaned. Extra work is needed for all this maintenance and care. All these factors are expected to restrict market growth. Moreover, several paint spray gun producers are innovating to broaden their product offerings. A new sprayer has been designed for increased comfort and convenience which is made of impact-resistant, stainless steel-reinforced composite metal. Furthermore, ongoing improvements in spray guns will present lucrative growth opportunities for the global market in the coming years.

COVID-19 Scenario

The COVID-19 pandemic had a negative impact on the global paint spray guns market, owing to the restrictions on manufacturing paint spray guns. Also, the shortages of labor and reduced construction activity had negative effects on the market growth.
However, the global market for paint spray guns has already recovered in the post-pandemic.

The HVLP segment to dominate in terms of revenue during the forecast period-

Based on product type, the HVLP segment accounted for the highest share in 2021, for more than two-fifths of the global paint spray guns market revenue and is expected to dominate in terms of revenue by 2032. The growth of the segment is increasing because of its higher accuracy and cost-effectiveness. However, the LVLP segment is projected to manifest the highest CAGR of 4.6% from 2023 to 2032. The growth is attributed to cost effectiveness and growing popularity in the automotive industry.

The manual segment to rule the roost-

Based on technology, the manual segment contributed to around two-thirds of the global paint spray guns market share in 2021 and is projected to rule the roost in terms of revenue by 2032. The growth is attributed to its affordability and extensive use in the manufacturing and construction industry.

Moreover, the automatic segment would display the fastest CAGR of 3.9% from 2023 to 2032. The segment is driven by its accuracy and extensive use in the automotive industry.

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The automotive segment held the lion's share in 2032-

Based on end user industry, the automotive segment accounted for more than two-fifths of the global paint spray guns market share in 2021 and is projected to rule the roost by 2032. The surge in necessity of spray painting in the automotive industry drives the growth of the segment. Additionally, the manufacturing segment would showcase the fastest CAGR of 4.2% from 2023 to 2032, owing to rise in number of small and medium manufacturing facilities in India and China.

Asia-Pacific garnered the major share in 2021-

By region, Asia-Pacific garnered around half of the global paint spray guns market revenue in 2021 and is expected to continue its lead in terms of revenue during the forecast period. The growth is attributed to the large automotive and manufacturing industry in the region. Simultaneously, the LAMEA region is expected to portray the fastest CAGR of 4.5% from 2023 to 2032. This is due to a rise in the number of small manufacturing industries in Africa and growth of automotive industry in Latin America.

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Leading Market Players-

ANEST IWATA Corporation
Zhejiang Refine Wufu Air Tools
Titan Tool Inc.
Tritech Industries, Inc.
Rongpeng Air Tools Co., Ltd.,
Navite
SATA GmbH & Co. KG
Asahi Sunac
Nordson Corporation.
Fuso Seiki Co. Ltd.
Lis Industrial
Exel Industries SA
J. Wagner GmbH
3M Company
Graco Inc.
Auarita
DSTech Co., Ltd.
Ningbo Lis Industrial Co., Ltd.

The report analyzes these key players in the global paint spray guns market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player

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