Hand-Soldering Equipment Market Size, Share, Growth, and Industry Growth, By Type (Soldering Iron, Soldering Pot, and Others), By Application (Electronics Industry, Semiconductor, Repairing, Construction, and Others), Regional Forecast By 2031

Updated On: 08 April 2024

Hand-Soldering Equipment Market Report Overview

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The global hand-soldering equipment market size is USD 366.6 million in 2022, as per our research, the market is projected to touch USD 319.72 million by 2031, exhibiting a CAGR of 3.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with hand-soldering equipment experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Hand-soldering is a method used in electronic engineering. A soldering iron is a hand tool that offers heat to the metal solders and allows it to flow into the joints of two pieces of equipment or work pieces. Soldering iron is made of a handle and a copper tip. Bypassing the electric current through a heating element is often achieved. It is generally used for repairing, fitting, and specific production work in assembling electronic components. 

Soldering was used in the old days when handmade tools were manufactured manually. Hand soldering is employed in many different fields nowadays, including metalworking, electronics, and plumbing. Additionally, the silver soldering procedure is frequently used to construct jewelry components, plumbing components, and some other refrigeration components. The expansion of the end-use industries where soldering is used heavily influences demand for those services. Numerous end-use sectors, such as communication and networking, consumer electronics, manufacturing, defense, and aerospace, require soldering equipment. Due to the predicted expansion of the industries above, there will likely be an increase in the demand for soldering equipment over the forecast period.

COVID-19 Impact: Lockdown Slowed Down the Market Growth

The COVID-19 epidemic created severe problems in a number of industries and regions. For a brief time, the entire lockdown and trade restrictions had a detrimental effect on the supply of the product, which had an immediate negative influence on the growth of the hand-soldering equipment industry. Lockdowns caused by COVID-19 have hampered the expansion of small and medium-sized engineering and commercial service enterprises. Lockdowns caused by COVID-19 over the world have impeded the expansion of small and medium-sized engineering and commercial service enterprises.

LATEST TRENDS

"Steady Adoption of Advanced Equipment to Aid Market Growth"

Selective soldering is replacing traditional hand soldering techniques. The hand-soldering equipment market growth is estimated to surge due to the rapid replacement of conventional equipment and techniques. This can be ascribed to its benefits, which include increased operational effectiveness, better customer interaction, and smaller equipment. In the upcoming years, this is anticipated to encourage the market for soldering equipment to expand. Furthermore, an increase in repair and maintenance work across various end-use industries is expected to fuel the demand for hand-soldering equipment. Additionally, it is anticipated that there will be a rise in demand for soldering services due to increased infrastructure developments worldwide.

Hand-Soldering Equipment Market Segmentation

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• By Type Analysis

By type, the market is segmented into soldering iron, soldering pot, and others.

• By Application Analysis

Based on application, the market is classified into the electronics industry, semiconductor, repairing, construction, and others.

DRIVING FACTORS

"Expanding the Engineering and Fabrication Industry to Boost the Equipment Demand"

Rising fabrication and manufacturing, particularly due to the development of the shipbuilding, oil & gas, automotive, and construction sectors. The demand for soldering equipment is expected to increase in the next few years due to several government initiatives in developing economies that encourage foreign investment to increase fabrication and manufacturing operations in different regions. In addition, the majority of manufacturers are moving their manufacturing activities to South Asian nations, which can be explained by the region's geographic location, simple access to labor, and a continuously expanding skill base.

"Various Benefits Associated with the Equipment to Surge the Market Growth"

The rising use of this technique in industries like construction, electronics, and semiconductors. The electrical and electronics market is expected to increase at a high rate throughout the study period as a result of the rising global demand for electronics. In addition, the growing demand for sophisticated hand soldering is anticipated to open up the attractive potential for the industry for participants over the forthcoming years. These factors are likely to propel the hand-soldering equipment market growth. 

RESTRAINING FACTORS

"Slow Adoption of Advanced Techniques to Hamper Market Growth"

Some of the key factors projected to hinder the soldering iron market in the next few years include the slow adoption of improved soldering techniques in emerging economies and the huge number of local competitors supplying soldering iron at comparably low rates. Lockdowns caused by COVID-19 over the world have hampered the expansion of small and medium-sized engineering and commercial service enterprises. This also hinders the market for soldering irons from expanding.

Hand-Soldering Equipment Market Regional Insights

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"Asia Pacific to Lead the Market Due to the Focus on Strengthening Safe Manufacturing Equipment"

Asia Pacific is anticipated to hold the lion's share in the global market due to the rising focus of the government towards strengthening better and safe manufacturing facilities in developing economies. 

Europe is expected to hold a significant part of the hand-soldering equipment market share due to the growing demand for advanced equipment from the construction, automotive, and electronics industries. 

KEY INDUSTRY PLAYERS

"Key Players Focusing on Innovative Technology Development to Grow in Market"

To address the limitations of hand soldering, manufacturers are emphasizing the introduction of equipment beneficial for the selective soldering process. In the upcoming years, it is anticipated that increased equipment density and emphasis on the development of small-sized soldering equipment will propel market expansion. Due to its advantages, such as improved user interactions and easier programming, selective soldering is quickly replacing the traditional hand soldering method. As a result, manufacturers are placing more emphasis on raising their investments in the creation of machinery for the selective soldering process.

List of Market Players Profiled

• Hakko (Japan)
• Weller (U.S.)
• Metcal (U.S.)
• JBC (Spain)
• Ersa (Germany)
• Easy Braid (U.S.)
• GOOT (U.S.)
• UNIX (South Korea)
• PACE (U.S.)
• EDSYN (U.S.)
• ESICO-TRITON (U.S.)
• HEXACON (U.S.)
• Quick (Belgium)
• ATTEN (France)
• GJ (India)
• CT BRAND (U.S.)
• Nanjing Huaxia (China)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2017 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.