According to a new market report published by Lucintel, the future of the spray foam equipment market looks promising with opportunities in the building and construction, transportation, and other industries. The global spray foam equipment market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to grow at a CAGR of 3%-4% from 2019 to 2025. The major drivers for this market are increasing demand for spray foam insulation due to stringent government regulation towards the reduction of greenhouse gas emission and to increase energy efficiency in homes and buildings.
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In this market, air, electric, and hydraulic equipment are used for spray foam insulation in various end use industries. Lucintel forecasts that hydraulic spray foam equipment will remain the largest segment by value and volume due to its high performance and durability compared with other machine. Hydraulic spray foam equipment provides high output and allows operators to apply material faster and more efficiently.
Within the global spray foam equipment market, building and construction will remain the largest end use industry and it is also expected to witness the highest growth over the forecast period due to Increasing demand for eco-friendly and energy efficient insulation in residential and commercial construction.
North America will remain the largest region by value and volume and it is also expected to witness the highest growth over the forecast period supported by increasing residential construction and government regulations for energy efficiency.
Emerging trends, which have a direct impact on the dynamics of the industry, include Integration of IoT technology to track the equipment status and advancement in control module and electronics. Graco, Polyurethane Machinery Corporation, Titan tool, Hi-Tec Spray Equipment, and Pusmak Machinery are the major manufacturers of spray foam equipment.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global spray foam equipment market by end use industry, technology, pressure rating, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Spray Foam Equipment Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global spray foam equipment market by end use industry, technology, pressure rating, and region as follows:
By End Use Industry [$M shipment and Volume (Units) analysis for 2014 – 2025]:
- Building and construction
- Transportation
- Others
By Technology [$M shipment and Volume (Units) analysis for 2014 – 2025]:
By Pressure Rating [$M shipment and Volume (Units) analysis for 2014 – 2025]:
By Region [$M shipment and Volume (Units) analysis for 2014 – 2025]:
- North America
- Europe
- Asia Pacific
- Rest of the World
This 198 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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