Global Electroplating Machine Market: Anticipated slight decline in consumption with a CAGR of -1.6% from 2024 to 2030

IndexBox has just published a new report: World - Machines For Electroplating, Electrolysis Or Electrophoresis - Market Analysis, Forecast, Size, Trends And Insights.

The electroplating machine market is expected to decrease in volume to 32M units by 2030, with a forecasted CAGR of -1.6%. However, in value terms, the market is projected to contract with an anticipated CAGR of +9.2%, reaching $32.2B by the end of 2030.

Market Forecast

The electroplating machine market is expected to start a downward consumption trend over the next six years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -1.6% for the six-year period from 2024 to 2030, which is projected to depress the market volume to 32M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +9.2% for the period from 2024 to 2030, which is projected to bring the market value to $32.2B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2024, consumption of machines for electroplating, electrolysis or electrophoresis decreased by -1.6% to 36M units for the first time since 2020, thus ending a three-year rising trend. In general, consumption, however, recorded a significant increase. Global consumption peaked at 36M units in 2023, and then dropped modestly in the following year.

The global electroplating machine market size declined markedly to $19B in 2024, falling by -17.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate resilient growth. Over the period under review, the global market attained the peak level at $24.6B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of electroplating machine consumption was Singapore (17M units), comprising approx. 49% of total volume. Moreover, electroplating machine consumption in Singapore exceeded the figures recorded by the second-largest consumer, the United States (8.4M units), twofold. The third position in this ranking was held by Malaysia (4.3M units), with a 12% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in Singapore stood at +52.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+44.4% per year) and Malaysia (+43.1% per year).

In value terms, the United States ($5.6B), Malaysia ($5.3B) and Singapore ($1.3B) appeared to be the countries with the highest levels of market value in 2024, together comprising 64% of the global market.

Singapore, with a CAGR of +54.3%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of electroplating machine per capita consumption was registered in Singapore (2,953 units per 1000 persons), followed by Malaysia (127 units per 1000 persons), Australia (27 units per 1000 persons) and the United States (25 units per 1000 persons), while the world average per capita consumption of electroplating machine was estimated at 4.4 units per 1000 persons.

In Singapore, electroplating machine per capita consumption increased at an average annual rate of +50.9% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Malaysia (+41.3% per year) and Australia (+4.3% per year).

Production

World Production of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2024, global production of machines for electroplating, electrolysis or electrophoresis soared to 29M units, rising by 35% on 2023 figures. Over the period under review, production posted a significant expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 225% against the previous year. Over the period under review, global production reached the peak volume in 2024 and is expected to retain growth in years to come.

In value terms, electroplating machine production rose rapidly to $21.4B in 2024 estimated in export price. Overall, production continues to indicate a resilient expansion. The growth pace was the most rapid in 2017 when the production volume increased by 205%. Global production peaked at $22.9B in 2022; however, from 2023 to 2024, production remained at a lower figure.

Production By Country

Singapore (17M units) remains the largest electroplating machine producing country worldwide, accounting for 59% of total volume. Moreover, electroplating machine production in Singapore exceeded the figures recorded by the second-largest producer, China (8.1M units), twofold.

From 2013 to 2024, the average annual rate of growth in terms of volume in Singapore totaled +36.8%. The remaining producing countries recorded the following average annual rates of production growth: China (+26.2% per year) and India (+10.6% per year).

Imports

World Imports of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2024, supplies from abroad of machines for electroplating, electrolysis or electrophoresis decreased by -10.6% to 17M units, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2022 when imports increased by 113%. As a result, imports attained the peak of 21M units. From 2023 to 2024, the growth of global imports failed to regain momentum.

In value terms, electroplating machine imports surged to $2.7B in 2024. Overall, imports, however, saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

The United States was the largest importer of machines for electroplating, electrolysis or electrophoresis in the world, with the volume of imports recording 9.9M units, which was approx. 57% of total imports in 2024. It was distantly followed by Malaysia (4.8M units), constituting a 28% share of total imports. The following importers - Australia (744K units), the Philippines (544K units) and Singapore (314K units) - together made up 9.2% of total imports.

The United States was also the fastest-growing in terms of the machines for electroplating, electrolysis or electrophoresis imports, with a CAGR of +67.8% from 2013 to 2024. At the same time, Malaysia (+44.1%), the Philippines (+42.9%), Australia (+5.6%) and Singapore (+5.4%) displayed positive paces of growth. From 2013 to 2024, the share of the United States, Malaysia and the Philippines increased by +55, +21 and +2.4 percentage points, respectively.

In value terms, Malaysia ($682M) constitutes the largest market for imported machines for electroplating, electrolysis or electrophoresis worldwide, comprising 25% of global imports. The second position in the ranking was taken by the United States ($175M), with a 6.5% share of global imports. It was followed by Singapore, with a 3.9% share.

In Malaysia, electroplating machine imports expanded at an average annual rate of +36.1% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+10.5% per year) and Singapore (+25.7% per year).

Import Prices By Country

The average electroplating machine import price stood at $155 per unit in 2024, picking up by 70% against the previous year. Overall, the import price, however, showed a deep downturn. Over the period under review, average import prices reached the peak figure at $968 per unit in 2013; however, from 2014 to 2024, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($330 per unit), while the Philippines ($9.2 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Singapore (+19.2%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Machines For Electroplating, Electrolysis Or Electrophoresis

In 2024, the amount of machines for electroplating, electrolysis or electrophoresis exported worldwide surged to 11M units, growing by 128% against 2023 figures. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2017 when exports increased by 264%. Over the period under review, the global exports reached the maximum at 24M units in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In value terms, electroplating machine exports declined to $1.5B in 2024. In general, total exports indicated a notable increase from 2013 to 2024: its value increased at an average annual rate of +2.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +50.8% against 2020 indices. The pace of growth appeared the most rapid in 2023 when exports increased by 30%. As a result, the exports attained the peak of $1.7B, and then contracted in the following year.

Exports By Country

In 2024, China (7.6M units) represented the key exporter of machines for electroplating, electrolysis or electrophoresis, committing 70% of total exports. The United States (1.7M units) held the second position in the ranking, distantly followed by Malaysia (513K units). All these countries together took approx. 21% share of total exports. Mexico (181K units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +42.3% from 2013 to 2024. At the same time, Malaysia (+60.9%), the United States (+33.0%) and Mexico (+32.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +60.9% from 2013-2024. China (+50 p.p.), the United States (+6.3 p.p.) and Malaysia (+4.4 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($517M) remains the largest electroplating machine supplier worldwide, comprising 34% of global exports. The second position in the ranking was held by the United States ($150M), with a 9.8% share of global exports. It was followed by Mexico, with a 0.5% share.

In China, electroplating machine exports increased at an average annual rate of +13.7% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United States (+4.7% per year) and Mexico (+34.3% per year).

Export Prices By Country

In 2024, the average electroplating machine export price amounted to $142 per unit, which is down by -59.9% against the previous year. Overall, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2023 when the average export price increased by 568%. Over the period under review, the average export prices attained the peak figure at $1.5 thousand per unit in 2013; however, from 2014 to 2024, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United States ($87 per unit), while Malaysia ($8.7 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+1.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform