Spraying & Plastering Machine Market Expected to Reach $4.5 Billion by 2030—Allied Market Research

According to a recent report published by Allied Market Research, titled, “spraying & plastering machine market by equipment type, end user, sales type, construction type, application, and region: global opportunity analysis and industry forecast, 2021–2030,” was valued at $2.5 billion in 2020, and is expected to reach $4.5 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030.

Spraying & plastering machines are used in the construction industry to minimize the construction time and to offer an automated solution for spraying concrete on walls and plastering walls to enhance them and make them look beautiful.

The spraying & plastering machine market is mainly driven by factors such as increase in government expenditures for infrastructural development, such as improvement of tunnels, mining operations, and other construction activities has been expected to increase. Thus, rapid urbanization and industrialization in developing countries have given rise to construction activities. In addition, development in manufacturing technology for construction activities is one of the major driving factors of the market, which ultimately saves construction time and delivers better results. Moreover, lack of skilled labor in developed countries is a major problem, which is easily tackled by using spraying & plastering machine. However, spraying & plastering machines are construction equipment that are expensive compared to labor cost in countries such as India and Brazil. Moreover, use of alternative eco-friendly material instead of concrete has led to decrease in demand for spraying & plastering machines in the market. Furthermore, outbreak of the COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the spraying & plastering machine market. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

On the contrary, use of spraying & plastering machine saves a lot of construction time and manpower thus fulfilling the need for reduced construction time and cost-effective products of the market.

The spraying & plastering machine market is segmented into equipment type, end-user, sales type, construction type, application, and region. By equipment type, the market is segregated into spraying and plastering. By end-user segment, it is divided into residential sector and non-residential sector. On the basis of sales type, the market is divided into new equipment sales and aftermarket sales. Construction type covered in the study include new construction and renovation & repairs. On the basis of application, the market is divided into wet mix and dry mix.  Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

• By equipment type, the spraying segment was the highest revenue contributor in 2020.
• On the basis of end-user, the non-residential sector segment was the highest revenue contributor in 2020.
• By sales type, the new equipment sales segment dominated the market in 2020.
• Depending on construction type, the new construction segment acquired the leading position in 2020.
• By application, the wet mix segment dominated the market in 2020.
• Europe generated the highest revenue in 2020.

The major players profiled in the spraying & plastering machine market include ACME Equipment Pte Ltd, FILAMOS, s. r. o., IMER International SpA, Kappa Building Machines Pvt. Ltd, Normet, Sany Group (Putzmeister), Schwing Stetter Group, Sika AG, Titan Ltd and Zhengzhou Sincola Machinery Co., Ltd.. Major companies in the market have adopted product launch and business expansion as their key developmental strategy to offer better products and services to customers in the spraying & plastering machine market.