Shot peening is a cold working process, designed to increase the fatigue strength of components which are subject to high alternating stress. It converts tensile residual strain into a compressive residual strain which results in significant increases in the life cycle of parts and their extreme load capacities. Its main benefit is the delay or prevention of cracks in extremely tensile stressed alloy components. Shot peening machines are used to make quality products by creating plastic deformation in metal & composites. The machines enable the development of products with superior surface characteristics to meet market demand. It is extensively used in the aviation and space industries. Examples of the machine from the field of shot peening are satellite table machines, rotary table machines, and swing table blast machines.
According to study, “Global Shot Peening Machine Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global shot peening machine market is AGTOS GmbH, Progressive Surface, Engineered Abrasives, Empire Abrasive Equipment, Guyson, Rosler Oberflachentechnik GmbH, Pangborn Group (United Generations LLC), Surface Finishing Equipment Company (SURFEX), Sintokogio Ltd., Wheelabrator (Norican Group). The key manufacturers are adopting state-of-the-art tools owing to the need to achieve enhanced productivity without compromising on product quality. On-time delivery has also become the main criterion for purchase across industries. The use of proper peening machines for treating preferred components is essential to determine the quality of the product, which has directed to the adoption of shot peening machines that improve material properties.
Based on the product, the market is segmented into automatic shot peening machines and semi-automatic shot peening machines. Based on component type, the market is segmented into blisks, universal joints for drive shafts, drill bits, racing car transmission parts, rotary piston, bevel gear wheels, chassis, masonry drills, springs, synchronizer hubs, hooks, torsion profiles, connecting rods, crown gears, spiral springs, wave springs, stabilizers, gear parts, cup springs, gears, and waves. Based on the distribution channel, the market is segmented into the distribution channel and direct channel. In addition, based on the end-use industry, the market is segmented into the construction industry, manufacturing industry, aerospace industry, automotive industry, and others.
The shot peening machine market is driven by a rise in need for superior quality products, followed by an increase in demand for fabricated metal products from industrial manufacturing and a rise in demand for higher productivity within a limited time period. However, high labor costs, strict government laws against pollution and easy availability of second-hand machines may impact the market. Moreover, the rise in the adoption of robotic peening machines in construction & maintenance activities is a key opportunity for the market.
Based on geography, Asian-Pacific the region holds the major share in shot peening machine market owing to a rise in investment in the manufacturing sector in the region. The North-American and European regions are expected to witness a steady growth rate due to stringent government policies and high sales of shot peening machines in international markets over the forecast period. The global market is likely to grow at a CAGR of approximately 2.0% over the next five years, will reach the US $430 million in 2024, from the US $380 million in 2019.
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