1 Global Shot Peening Market Insight Analysis
The global shot peening market is valued at USD 156.25 million in 2024, with a CAGR of 7.3% during 2024-2033.
Shot peening is a cold work process used to impart compressive residual stresses on to the surface of a component, which results in modified mechanical properties. The shot peening process is used to add strength and reduce the stress profile of components. Shot peening works by striking a surface with a shot (round metallic, glass or ceramic particle) with enough force to generate plastic deformation. When a group of shots impact the surface they generate multiple indentations, resulting in the component being encased by a compressive stressed layer on the metal surface.
Figure Global Shot Peening Market Size (M USD) and CAGR (2024-2033)
2 Shot Peening Market Growth Drivers and Restraints
The growth of the shot peening market is propelled by several key drivers. Firstly, the inherent advantages of the shot peening process, such as its ability to significantly enhance the fatigue life and strength of components, make it an indispensable process in industries like aerospace and automotive. The process’s efficiency in mitigating metal fatigue and improving product longevity further cements its demand. Additionally, the development of downstream industries, particularly aerospace and automotive, which require high-quality and reliable components, fuels the market’s expansion. These industries are at the forefront of technological advancements and safety requirements, necessitating the use of shot peening to meet stringent performance standards.
Conversely, the market faces certain limitations that could impede its growth. The technical complexity of shot peening poses a significant challenge, as both suppliers and consumers must navigate the intricacies of the process. This complexity demands a high level of expertise and precision, which can be a barrier to entry for some companies. Furthermore, the workflow of shot peening, which includes noise, environmental impact, and maintenance requirements, adds to the operational challenges. The need for professional and experienced technical teams, coupled with the budgetary and efficiency constraints, can limit the application and consumer choice in the market.
3 Technological Innovations and Mergers in the Shot Peening Market
The shot peening market is characterized by continuous technological innovations aimed at improving process efficiency and component quality. Advancements in shot peening technology focus on enhancing the precision and automation of the process, thereby reducing defects and increasing manufacturing accuracy. The integration of artificial intelligence and machine learning technologies is a testament to the industry’s commitment to innovation, enabling predictive analysis and optimization of the shot peening process.
Additionally, corporate mergers and acquisitions play a pivotal role in shaping the market landscape, as companies strive to consolidate their positions and expand their service offerings. These strategic moves often result in the acquisition of new technologies and market share, further driving the industry’s growth and competitiveness.
4 Global Shot Peening Market Size by Type
The market is divided into fans blades, LPT and HPT blades and vanes, disks, gears, shafts, bearings, and others. In 2024, the market value for each type is as follows: fan blades at 16.58 million USD, LPT and HPT blades and vanes at 41.59 million USD, disks at 10.85 million USD, gears at 31.77 million USD, shafts at 23.93 million USD, bearings at 14.94 million USD, and others at 16.59 million USD.
These figures underscore the diversity and breadth of the shot peening market, with each type serving specific industry needs. For instance, fan blades are crucial in the aerospace industry, while gears and bearings are indispensable in automotive applications.
Table Global Shot Peening Market Size and Share by Type in 2024
|
Type |
Market Size (M USD) 2024 |
Market Share 2024 |
|---|---|---|
|
Fan Blades |
16.58 |
10.61% |
|
LPT and HPT Blades and Vanes |
41.59 |
26.62% |
|
Disks |
10.85 |
6.94% |
|
Gears |
31.77 |
20.33% |
|
Shafts |
23.93 |
15.32% |
|
Bearings |
14.94 |
9.56% |
|
Others |
16.59 |
10.62% |
5 Global Shot Peening Market Size by Application
The global shot peening market is intricately segmented by application, each with its own market size and growth dynamics in 2024. The automotive sector with a market value of 54.54 million USD, reflecting its critical need for enhanced component durability and performance. The aerospace industry valued at 69.94 million USD, underscoring the indispensable role of shot peening in extending the fatigue life of aircraft components. Shipbuilding, with a market value of 9.42 million USD, benefits from shot peening to strengthen marine engine parts. The “others” category, encompassing various other applications, stands at 22.35 million USD, highlighting the diverse uses of shot peening across different industries.
These figures illustrate the varied applications of shot peening, each tailored to specific industry requirements. The automotive industry relies on shot peening to improve the life and performance of engine components such as crankshafts and connecting rods. In aerospace, shot peening is essential for enhancing the durability of landing gear, turbine blades, and engine components. Shipbuilding utilizes shot peening to strengthen marine engine parts, ensuring reliability and performance. The “others” category includes applications in industries such as power generation and medical, where shot peening plays a crucial role in improving component strength and longevity. This detailed segmentation underscores the versatility and widespread applicability of shot peening services.
Table Global Shot Peening Market Size and Share by Application in 2024
|
Application |
Market Size (M USD) 2024 |
Market Share 2024 |
|---|---|---|
|
Automotive |
54.54 |
34.90% |
|
Aerospace |
69.94 |
44.76% |
|
Shipbuilding |
9.42 |
6.03% |
|
Others |
22.35 |
14.30% |
6 Global Shot Peening Market Size by Region
The global shot peening market is further segmented by region, each with distinct development statuses and market values in 2024. The United States leads with a market value of 56.27 million USD, reflecting its robust industrial base and advanced manufacturing capabilities. Europe follows with a market value of 49.27 million USD, indicative of its strong presence in the aerospace and automotive industries. China, with a market value of 16.12 million USD, is rapidly emerging as a key player due to its aggressive economic growth and industrial expansion.
Japan, valued at 16.04 million USD, maintains a significant market share, leveraging its expertise in precision manufacturing. The Middle East and Africa, with a market value of 1.65 million USD, are developing steadily, with increasing industrialization and investment in infrastructure. India, at 3.40 million USD, is poised for growth, driven by its burgeoning manufacturing sector and economic reforms. South America, with a market value of 3.56 million USD, is gradually recovering from economic challenges, focusing on industrial growth and diversification.
These regional figures highlight the diverse development statuses and market potentials across the globe. The United States and Europe are established markets with sophisticated industrial infrastructures, driving the demand for high-quality shot peening services. China’s rapid industrialization and economic ambitions position it as a rising market, with significant growth potential. Japan’s precision manufacturing expertise ensures a stable market for shot peening services. The Middle East and Africa, India, and South America are emerging markets, each with unique challenges and opportunities, reflecting a broader trend of industrialization and economic development. This regional segmentation provides a comprehensive view of the global shot peening market, illustrating the varied dynamics and growth prospects across different parts of the world.
Figure Global Shot Peening Market Size (M USD) by Region in 2024
7 Global Shot Peening Market Analysis by Major Players
7.1 Curtiss-Wright Surface Technologies
Company Introduction and Business Overview:
Curtiss-Wright Surface Technologies, established in 1929, is a global leader in providing surface treatment solutions. The company operates worldwide and is renowned for enhancing the life, strength, and performance of critical components in industries such as aerospace, automotive, oil and gas, power generation, medical, and general industries.
Curtiss-Wright Surface Technologies specializes in treating components of all shapes, sizes, and complexities. The company produces its own tooling and equipment in-house as needed and can deploy dedicated on-site teams for fixed or large components anywhere worldwide at short notice. Their services are certified to applicable industry approvals including NADCAP, ISO, and hundreds of OEM (& Tier 1) certifications.
Products:
The company offers a comprehensive range of shot peening services, which are designed to improve the fatigue life and strength of components. Their technical plans take into account part geometry, masking requirements, base material properties, and review of thin sections to minimize the chance for distortion.
Market Performance in 2024:
In 2024, Curtiss-Wright Surface Technologies is projected to achieve a value of 23.92 million USD, with a gross margin of 24.43%.
7.2 Sinto
Company Introduction and Business Overview:
Sinto, founded in 1972, is the world’s largest and most trusted manufacturer of foundry equipment. The company is headquartered in Japan and has a global business distribution network.
Sinto specializes in providing sophisticated foundry technologies for improving casting quality, productivity, and the work environment. The company has applied its experience and know-how to related fields, serving customers and industries with solutions for surface treatment, environmental preservation, material handling, mechatronics, consumables, and more.
Products:
Sinto offers shot peening services to a variety of industries, including agricultural equipment, aircraft engine components, armaments, automotive structures, mining industry, medical implants, oil and gas industry, power generation turbine components, and shafts for aircraft engines, power generation turbines, and ship propulsion.
Market Performance in 2024:
Sinto is expected to reach a value of 8.83 million USD in 2024, with a gross margin of 21.61%.
7.3 Wheelabrator
Company Introduction and Business Overview:
Wheelabrator, established in 1933, is a premier manufacturer of shot blasting equipment. The company operates worldwide and is known for its extensive selection of machines, components, and services.
Wheelabrator brings over a century of expertise in delivering best-in-class solutions for both wheel blasting and air blasting technologies. The company is dedicated to enhancing the productivity and profitability of customers through its comprehensive equipment, parts, and services.
Products:
Wheelabrator offers aerospace shot peening services, including saturation fatigue enhancement peening, correction peening, and peen forming. The company processes a wide range of components in the aerospace sector, from large wing ribs and spars to small springs or fixings.
Market Performance in 2024:
In 2024, Wheelabrator is forecasted to achieve a value of 6.23 million USD, with a gross margin of 23.83%.
