WITH A 38% MARKET SHARE, WILL THE AIR PAINT SPRAYER STILL BE THE MOST POPULAR PRODUCT FOR PAINTING?
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Rapid industrialization and increasing applications in the household and commercial sectors are primarily driving the paint sprayer market. The growth in the use and demand for Li-ion batteries, along with the rise in infrastructural development, has surged the demand for paint sprayers.
The paint sprayer is a device that helps in painting a surface evenly with paint or similar liquids. It can be used for painting several surfaces, such as wood, metal, brick, and many more. The demand for paint sprayers is majorly driven by the industries such as automobile, manufacturing, construction, and marine. In addition, the rising trend of DIY (Do it Yourself) projects are anticipated to drive the paint sprayer market. The market is segmented into product, power source, applicator type, and end-user.
“Rising home renovations and DIY activities are expected to surge the demand for paint sprayers globally.”
The global paint sprayer market is expected to reach USD 1.751 billion by 2028 from USD 1.31 billion in 2022, growing at a CAGR of 4.94% during the forecast period.
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT
Air paint sprayers are the largest segment and account for 38.74% of the global paint sprayer market share. The air paint sprayers utilize a compressor to atomize the fluid sprayed on the component. Furthermore, these can be further categorized into two types such as HVLP and LVLP. HVLP paint sprayers are most used in the residential sector for DIY activities since they are more lightweight and efficient for users.
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INSIGHTS BY POWER SOURCE
The global paint sprayer market is segmented into corded and cordless paint sprayers by the power source. The corded paint sprayers are the largest segment and account for 59.27% of the global share in 2022. A corded paint sprayer can be operated if needed with a continuous runtime. The segment is expected to grow at a CAGR of 4.35%.
INSIGHTS BY APPLICATOR TYPE
The manual applicator type is the largest segment by applicator type and accounts for 65.72% of the global cordless paint sprayer market share. Manual air-assist spray guns apply high-viscosity material under demanding surface quality requirements.
INSIGHTS BY END-USER
The industrial & commercial end-user segment, consisting of significant contributors such as the automotive and construction industries, generated the maximum revenue in the paint sprayer market in 2022. The scenario is expected to remain consistent throughout the forecast period owing to the rising demand for paint sprayers from industries.
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