Soldering Equipment Market set to garner higher revenue globally
According to Market Research Future (MRFR), the global soldering equipment market is estimated to reach a value of USD 911.3 Million with a CAGR of 9.56% from 2018 to 2025 (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.
Soldering equipment links two or more electronic parts together by melting the solder around the gap. Solder is a molten mixture of lead, tin, brass, and silver. Soldering equipment is used in various end-use industries, such as automotive, energy & power, aerospace & defense, communication, and electrical & electronics. Soldering equipment techniques are known as infrared reflow, hot gas convection, or phase reflow. In double-sided PCBs, the reflow process is repeated either using the glue or the solder paste to hold the components in place.
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Manufacturers focus on introducing equipment that will help the selective soldering process overcome the drawbacks of hand soldering. Focusing on developing small soldering equipment, with the increasing density of equipment, is expected to bolster the market's growth in the coming years. Selective soldering is becoming a widely known alternative to conventional hand soldering due to its merits, such as improved user interactions and simplified programming. As a result, manufacturers insist on increasing investment in the development of selective soldering equipment. This is predicted to further contribute to the development of the market in the coming years.
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. Among these, the reflow soldering segment led the market with a value of USD 151.2 million in 2019, and the segment is anticipated to register the highest CAGR of 11.10% during the review period.
Based on application, the global market for soldering equipment has been segmented into consumer electronics, networking & communication, automotive, aerospace & defense, and others. Among these applications, the consumer electronics segment is predicted to register the highest CAGR of 11% during the forecast period.
Depending on the region, the global market for soldering equipment has been segmented into North America, Europe, Asia Pacific and the rest of the world.
Asia Pacific is projected to hold the largest market share in soldering equipment over the forecast period due to a rise in foreign investment in the production of electric vehicle (EV) charging infrastructure due to the large population base and the increasing economies of China, India, Japan, and Thailand. China is anticipated to hold the largest share in the Asian Pacific soldering equipment market and is expected to proliferate over the review period due to increasing per capita disposable income and rising automotive and consumer electronics sectors. In addition, the growing attention of governments on expanding manufacturing facilities in emerging countries, such as India and China, is accelerating the region's dominance in the soldering equipment industry.
North America is the second-largest regional market for soldering equipment and is expected to see substantial growth as the demand for electronic equipment in the region is strong. The US dominated the North American market for soldering equipment, as the nation has a developed economy and rising industries such as consumer electronics and aerospace & defense.
During the study, MRFR has analyzed some of the leading players in the global soldering equipment market who have contributed to market growth. These 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, and RADYNE CORPORATION.
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