Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com has added the comprehensive report on the "Paint Sprayer Market - Global Outlook & Forecast 2023-2028" to its platform, shedding light on the promising avenues and trends shaping the global paint sprayer industry. The market is predicted to ascend at a CAGR of 4.92% during the forecast period, fueled by burgeoning industrialization and a spike in usage across residential and commercial sectors.
The paint sprayer, a marvel of modern engineering, facilitates a uniform application of paint or akin liquids on various surfaces, including wood, metal, and brick. Its demand is chiefly propelled by sectors such as automotive, construction, manufacturing, and marine, alongside a rising affinity towards Do-It-Yourself (DIY) projects.
A significant thrust in the market is attributed to the escalating home renovation and DIY activities worldwide. Paint sprayers, especially the High Volume Low Pressure (HVLP) variants, are becoming a favored tool among DIY aficionados and professionals alike, owing to their precise spraying and easily manageable pressure features.
Market Trends & Opportunities:
- Eco-friendly Spray Painting: The growing environmental consciousness has steered the paint sprayer market towards efficient and sustainable spray painting solutions.
- Home Improvement Ventures: The burgeoning home renovation industry globally, coupled with a rising trend in rental housing, is set to augment the demand for paint sprayers, particularly in the renovation and retrofit industry.
- DIY Culture Flourishment: Developed regions like the US and Europe are witnessing a surge in DIY activities, with home remodeling and painting occupying a prominent position in the DIY culture.
Industry Challenges:
- Raw Material Price Volatility: The fluctuation in the pricing of raw materials, accounting for 50% to 60% of the production cost, poses a considerable challenge, affecting vendor margins in the paint sprayer market.
Segmentation Insights:
- By Product: Air paint sprayers lead the market, with a global share of 38.74%, primarily due to their effectiveness in atomizing the sprayed fluid.
- By Power Source: Corded paint sprayers dominate the segment, accounting for 59.27% of the global share in 2022, although cordless variants are gaining traction owing to their portability.
- By Applicator Type: Manual applicators are the largest segment, valued for their precision in high-viscosity material application under demanding surface quality requirements.
- By End-User: The industrial & commercial segment, driven by automotive and construction industries, generated the highest revenue in 2022, yet residential segment is on the rise spurred by new constructions and DIY activities.
Geographical Insights: The APAC region stands as the largest paint sprayer market, holding approximately 37.87% of the global market, chiefly due to a robust construction industry. The burgeoning DIY culture and the amplifying purchasing power of consumers are further propelling the market in this region.
Vendor Landscape: The global paint sprayer market is a moderately fragmented arena with fierce competition. Notable players like Graco and Wagner are at the forefront, continually refining their offerings to cater to the growing DIY culture and user-friendly tool demand.
Key Questions Addressed:
- Market size and growth rate of the global paint sprayer market.
- Primary trends in the market.
- Key players and regional market shares.
The report encapsulates a thorough analysis of market segmentation, vendor landscape, and the macro and micro factors driving the market, accompanied by a meticulous forecast for the upcoming years.
Company Profiles
- Wagner
- Wagner SprayTech
- HomeRight
- Titan Tool
- Earlex
- Graco
- Lemmer Spray Systems
- Sames
- Rongpeng Air Tools
- Blastech
- Buvico Spraying Equipments
- Vands Engineering Solution
- MOD Engineering
- TECCPO
- Batavia
- NEU MASTER
- Robert Bosch
- EXEL Industries
- Litheli
- YATTICH
- Worksite
- HYCHIKA
- NoCry
- Fuji Industrial Spray Equipment
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 241 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1313.31 Million |
| Forecasted Market Value (USD) by 2028 | $1751.75 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/o0egjb
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