Optical Coating Equipment Market Share

APAC Market Statistics

Asia Pacific industry is set to dominate majority revenue share of 42% by 2037. The growth of the market can be attributed majorly to the increasing demand for consumer electronic devices such as smartphones, smart TVs, tablets, gaming consoles, and digital radios, along with the massive growth in the automotive industry. For instance, the revenue of consumer electronics in Southern Asia extended to approximately USD 92 billion in 2021. In addition, the growing demand for optical coating equipment from the aerospace and military sectors is also projected to boost the market growth in the APAC region during the forecast period.

North American Market Forecast

The North American optical coating equipment market, amongst the market in all the other regions, is projected to hold the second largest share of about 30% during the forecast period. The growth of the market can be attributed majorly to the surge in demand for optical coating applications in the aerospace and military industries. Additionally, the rising demand for eco-friendly coating applications for sensing applications and laser systems in the region is also anticipated to drive market growth over the forecast period. In addition to this, the significantly increased adoption of solar panels backed by the rise in the solar industry is also estimated to push the market growth further during the forecast period in the region. For instance, by 2020, roughly 5% of homes in the United States had installed solar panels. Hence, these all factors are anticipated to radically accelerate the market growth in the region during the forecast period.

Europe Market Forecast

Further, the optical coating equipment market in the European region, amongst the market in all the other regions, is projected to hold a considerable share of about 18% by the end of 2037. The growth of the market can be attributed majorly to the increasing growth in the telecommunication sector, followed by the surging usage of these coatings in automobile displays, car windows, and so on. In addition to this, the strong presence of the automobile sector in the region, coupled with the rising demand for low-cost vehicles is also estimated to spike the market growth further throughout the forecast period in the region.