Metal equipment needs to be cleaned on a regular basis for ensuring protection against corrosion and to maintain its operational efficiency. The chemical cleaning of metals offers numerous advantages over mechanical means of cleaning. Of the several advantages of metal cleaning through chemical means, the foremost is that the metal equipment doesn’t need to be dismantled and reassembled. Secondly, the cleaning does not damage the equipment.
Satisfactory Lifecycle of Metal Cleaning Equipment to Result in Moderate Market Growth
Metal cleaning equipment is extremely complex and the design specifications are finalized so as to carry out metal degreasing and cleaning activities. In Europe, these systems are designed to keep up with environmental safety and protection norms laid down by the European Union. The product lifecycle is as long as 5 to 10 years, which is the reason why the number of installations of metal cleaning equipment in Europe will display a moderate demand in the coming years.
This market is expected to display a CAGR of 6.2% from 2016 to 2024, says Transparency Market Research (TMR). The Europe metal cleaning equipment market stood at US$731.7 mn in 2015.
Europe Metal Cleaning Equipment Market – an Overview
The Europe metal cleaning equipment market is displaying a positive growth trajectory due to several reasons. First and foremost, the high activity in the aerospace, automotive, and process industries in Europe and development of micro, small, and medium enterprises (MSMES) worldwide are driving this market. Some observations pertaining to the development of this market are as follows:
> Conveyor belts stood as the largest movement type segment of this market in 2015. This segment held a share of 62.1% in the global market. Nevertheless, the programmable segment will display the fastest growth from 2014 to 2024. The rising popularity of newer technologies such as artificial intelligence across the industrial sector will propel the demand for programmable movement for increased efficiency and automation.
> Germany contributed the largest revenue to the Europe metal cleaning equipment market in 2015; the region held a 24.6% share in the overall market. Germany continues to remain the largest market due to the rising demand from SMEs and large enterprises in this region. Other than this, the increasing number of startups and SMEs that provide services to large manufacturing companies, is fueling the growth of the Germany metal equipment market.