The automatic sand blasting machine market was valued at US$ 7.13 billion in 2019 and is projected to reach US$ 10.51 billion by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.
Europe held the second-largest share of global automatic shot blasting machine market owing to the presence of manufacturing units of automobiles, aerospace, and shipbuilding industries.Germany, the UK, Italy, and Spain make a significant contribution toward industrial production.
Larger the number of manufacturing industries and industrial production, greater would be the adoption of automatic shot blasting machine in European countries.In terms of market share, APAC and North America held the second and third positions, respectively, in 2019.
The North American region is characterized with the presence of well-developed countries—such as the US, Canada, and Mexico—which drives the adoption of automatic shot blasting machine to enhance the performance in heavy production industries. As the US is focusing on increasing the efficiency of production with minimal costs, the adoption rate of automatic shot blasting machine is gaining high momentum.
During the forecast period, the growth outlook of automatic shot blasting machine market in all the major geographic regions is estimated to be quite positive.However, due to the ongoing COVID-19 pandemic, all the major countries in regions—such as Europe, Asia Pacific, and North America—have imposed strict restrictions on business activities and movement of goods and people.
Also, temporary closure of operational activities in manufacturing and other production industries has impacted the adoption of automatic shot blasting machine.All these factors are anticipated to affect both supply of and demand for automatic shot blasting machines, thus affecting the revenue growth of the global automatic shot blasting machine market, especially in 2020 and 2021.
It is expected that the growth of the automatic shot blasting machine market would stabilize in 2022 and the market would see a positive growth rate by 2027. APAC is anticipated to be the fastest-growing region with an impressive CAGR of 5.3% during 2020–2027. APAC region consists of various developing economies, such as China, India, and several southeast countries as well as developed economies, such as Japan and South Korea. In developing countries, such China and India, manufacturing units of foundries and metal industry are rising at an impressive pace, which is resulting into the increasing adoption of automatic shot blasting machines.
The overall automatic sand blasting machine market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the automatic sand blasting machine market.
The process also serves the purpose of obtaining an overview and forecast for the automatic sand blasting machine market with respect to all the segments.It also provides the overview and forecast for the global automatic sand blasting machine market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, MEA, and SAM.
Also, primary interviews were conducted with industry participants and commentators to validate data as well as to gain more analytical insights into the topic. Participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the automatic sand blasting machine market.
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