Market Research Future (MRFR) has published a cooked research report on the “soldering equipment market” that contains information from 2023 to 2032. The soldering equipment market is estimated to register a CAGR of 9.56% during the forecast period of 2023 to 2032 and projected to grow at USD 1.1 billion by 2032.
MRFR recognizes the following companies as the key players in the Market — Ersa GmbH, Pillarhouse International Ltd., RPS Automation LLC, FLASON ELECTRONIC CO. LIMITED, JBC S.L, SEHO Systems GmbH, ACE Production Technologies, Inc., Blundell Production Equipment Ltd, American Hakko Products, Inc., JUKI Automation, PACE Europe Ltd., The Harris Products Group, Inductelec Limited, JAPAN UNIX Co. Ltd, RADYNE CORPORATION.
Global Soldering Equipment Market Overview
According to Market Research Future (MRFR), the global soldering equipment market is estimated to reach a value of USD 1.1 billion with a CAGR of 9.56% from 2023 - 2032 (forecast period). The report outlines the opportunities, strengths, threats, and possible business risks and offers a rigorous analysis of the market situation with the impact of COVID-19.
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Market Segmentation
The global market for soldering equipment has been segmented based on type and application.
· Based on type, the global market for soldering equipment has been segmented into reflow soldering, induction soldering, hot-bar reflow, laser soldering, and mechanical and aluminum soldering.
· Based on application, the global market for soldering equipment has been segmented into consumer electronics, networking & communication, automotive, aerospace & defense, and others.
Drivers
Expansion in Engineering and Fabrication to Boost Market Growth
The surging need for soldering equipment is primarily driven via expansion activities in manufacturing and fabrication, particularly through the growth in shipbuilding industries, oil and gas, automotive, and construction. Numerous government initiatives in developing economies encourage the foreign investments for expanding fabrication and manufacturing activities in respective regions that is likely to boost market growth. Besides, a majority of manufacturers are shifting their manufacturing operations to South Asian countries that can be attributed to the easy accessibility of labor, steady growing skill base, and geography.
Restraints and Challenges
Fluctuations in Demand for Automobiles to act as Market Restraint
The fluctuations in demand for automobiles will impede the global soldering equipment market share over the forecast period.
Key Players
During the study, MRFR has analyzed some of the leading players in the global soldering equipment market include
· Ersa GmbH
· Pillarhouse International Ltd.
· RPS Automation LLC
· FLASON ELECTRONIC CO. LIMITED
· JBC S.L
· SEHO Systems GmbH
· ACE Production Technologies, Inc.
· Blundell Production Equipment Ltd
· American Hakko Products, Inc.
· JUKI Automation, PACE Europe Ltd.
· The Harris Products Group
· Inductelec Limited
· JAPAN UNIX Co. Ltd
· RADYNE CORPORATION
Opportunities
Replacement of Conventional Hand Soldering Processes to offer Robust Opportunities
The replacement of conventional hand soldering processes by selective soldering will offer robust opportunities for the market over the forecast period. This can be attributed to its perks like reduction in the size of the equipment, better customer interface, and improved operational efficiency. This is likely to boost market growth. Moreover the demand for such equipment is also likely to be driven by increasing used in maintenance and repair work in various end use industries. Besides, with increasing infrastructure investments across the globe, the need for soldering services is expected to rise.
COVID-19 Analysis
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the soldering equipment market value. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.
Regional Analysis
APAC to Command Soldering Equipment Market
The APAC region will command the market over the forecast period. Increase in foreign investments in the developing the electric vehicle charging infrastructure for the significant population base, the growing economies of Thailand, Japan, India, and China, growing demand in China for the growing per capita disposable income and growing automotive and consumer electronics sectors, increasing focus of the government towards strengthening the manufacturing facilities in India and China, growth of the electronics sector, and low labor cost & production cost in South Asian countries are adding to the global soldering equipment market growth in the region.
North America to Have Admirable Growth in Soldering Equipment Market
North America will have admirable growth in the market over the forecast period and at a high CAGR. Demand for electronic equipment in the region being high and growing demand in the US for the country having a developed economy and growing industries like consumer electronics and aerospace and defense are adding to the global soldering equipment growth in the region.
Industry Updates
Z-Axis has recently added an Ersa VerasFlow 3/45 selective soldering system at its contract manufacturing and electronics design center near Rochester, New York. This latest investment in manufacturing automation will boost the company’s capacity and quality for mixed-technology PCB assemblies that are manufactured in the USA.
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