Line Stripping Machines Market: Ongoing Forecast Study On To Map Its Growth For Forecast Period 2018 - 2026
Line stripping machines are equipment which are used for the marking of strips or lines in highways, roads, or parks. Striping machines can vary from handheld machines to striping trucks, and are used for small parking lot jobs, marking highways, and airport runways. Increasing construction of roads and highways in developing countries due to urbanization is expected to result in increasing demand for line stripping machines during the forecast period. Large scale investment in construction of airports, parking lots, and recreational centers are some of the major factors leading to increasing growth of the line stripping machines market.
Line stripping machines are widely used in manufacturing industries to draw various signs and symbols in order to differentiate different zones and departments. Majority of road accidents take place in the dark, increasing the demand for coatings as they are easily visible, which helps in reducing the number of accidents. These stripping machines are also used for residential purposes. Decorative paints and coats are applied on interior and exterior walls of houses and corporate buildings to make them more attractive. Increasing construction in metro stations and airports is also expected to fuel the demand for stripping machines during the forecast period.
However, increasing price of pigments, solvents, and other raw material used in the production of paints is hampering the growth of the line stripping machines market, as stripping machines require coating or painting material to make the strip. Availability of cheap labor in developing nations is increasing the demand for manual construction of strips and coatings, thus restricting the growth of the line stripping machines market. Rental market and long life span of line stripping machines are also major hindrances to the growth of the market
The line stripping machines market can be segmented on the basis of product type, application, end-use, and geography. Based on product type, the line stripping machines market is bifurcated into electric striping machines and air powered striping machines. In terms of application, the line stripping machines market is categorized into industrial and commercial. Commercial segment is expected to dominate the market due to increasing number of airports, parking lots, and highways. On the basis of end-use, the line stripping machines market is segmented into road and highway construction, airport construction, park construction etc. Highways and road construction is anticipated to lead the market due to increasing demand for road connectivity across the globe.
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In terms of geography, the line stripping machines market is segmented into North America, Europe, Middle East & Africa, and South America. The market is witnessing considerable growth in APAC due to the rising construction of roads and highways in India and China. The market in North America and Europe is estimated to show significant growth due to growing infrastructure and urbanization which is resulting in increasing construction of airports and roads. Middle East & Africa likely to show significant growth due to rising lifestyles and increasing disposable income of people in the region.
Major players in the line stripping machine market are Fleet Line Markers Ltd, JCL Equipment Co., M-B Companies Inc., The Wagner Companies, RUST-OLEUM, Seymour Paint etc. These key players are anticipated to face many challenges in the coming years due to presence of a large number of local players. All major players are focusing on innovation of products and increasing their investment on research & development to reinforce their position in the line stripping machines market. Companies are adopting strategies such as joint ventures, and mergers and acquisitions with local players to remain competitive and to expand their product portfolio. In developing countries, manufacturers are focusing on reducing the production cost and increasing their profitability for the sustainable growth of their business.
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