Selective Soldering System Market Size, Share, Growth, and Industry Growth by Type (Offline Selective Soldering System and Inline Selective Soldering System) By Application (Telecommunication, Consumer Electronics, Automotive Electronics and Others) Regional Forecast To 2031

Updated On: 15 April 2024

Selective Soldering System Market REPORT OVERVIEW

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global selective soldering system market size was USD 161.7 million in 2022 and market is projected to touch 230.14 Million by 2031, exhibiting a CAGR of 4% during the forecast period.

The technique of attaching two or more components is known as soldering. Melting the material or adding a filler substance accomplishes this. Thus, the components of printed circuit boards (PCBs) using surface mount technology are soldered using the selective soldering technique (SMT). To prevent any form of harm, however, the selective soldering procedure must be carried out by experts, or the selective soldering equipment must be utilized by people with technical know-how. This is owing to the fact that wave soldering can easily cause heat damage to the molded modules that the selective soldering technique is applied to. The main benefit of selective soldering is that it is a cheap way to install the components on printed circuit boards (PCBs). The selective soldering procedure calls for a high degree of accuracy and precision. The practice of conventional soldering has changed as a result of selective soldering.

COVID-19 Impact: Supply Chain Disruptions and Lockdown to Hinder the Selective Soldering System Market

Covid badly affected the selective soldering system market due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand.

LATEST TRENDS

"Increased Operational Effectiveness and Greater Customer Interaction to Augment the Market"

Selective soldering has begun to take the role of traditional hand soldering techniques. This is explained by its benefits, including increased operational effectiveness, greater customer interaction, and a reduction in the size of the equipment. In the upcoming years, it is anticipated that this will help the market for selective soldering systems develop. Additionally, an increase in the utilization of selective soldering systems for repair and maintenance tasks across a variety of end use sectors is anticipated to fuel demand. Additionally, it is anticipated that demand for soldering services would rise as infrastructure investments expand globally.

Selective Soldering System Market Segmentation

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• By Type Analysis

By type, market is segmented into offline selective soldering system and inline selective soldering system. The offline selective soldering system segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into telecommunication, consumer electronics, automotive electronics and others. The telecommunication segment will lead the global share through 2031.

DRIVING FACTORS

"Technical Improvements and Equipment Upgrades to Propel the Market Demands"

There has been an increase in demand for selective soldering on a worldwide scale as a result of growing knowledge of the benefits of this method over traditional soldering. Rising technical improvements and equipment upgrades for selective soldering will also open up profitable development potential for the market. Selective soldering for print circuit boards is becoming more popular in developing economies and is also in high demand, which is boosting the market's expansion. The demand for selective soldering will increase as the electrical and electronics industries continue to grow and expand. Selective soldering will see increased demand as a result of rising automotive sector demand. Other factors that influence market expansion are ease of processing, low operating costs, and inexpensive component components.

"Rise in Fabrication and Manufacturing Sectors to Boost the Market"

The rise in the fabrication and manufacturing sectors, particularly in the shipbuilding, oil & gas, automotive, and construction sectors, is the main driver of the need for selective soldering systems. The market for selective soldering systems is expected to increase in the next years as a result of a number of government efforts in emerging economies that promote foreign investment to increase fabrication and manufacturing operations in different areas. In addition, most manufacturers are moving their production to South Asian nations, which is due to the region's geographic location, simple access to labour, and a rapidly expanding pool of skilled workers.

RESTRAINING FACTORS

"High Cost of Soldering Equipment to Restrict the Market Growth"

The slow pace of uptake of sophisticated selective soldering technologies in emerging nations will be a key barrier to the expansion of the riflescopes industry. Additionally, the high cost of selective soldering equipment would serve as a market restriction in this sector.

Selective Soldering System Market REGIONAL INSIGHTS

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"Asia Pacific to Hold the Highest Global Selective Soldering System Market Share"

During the projected period, Asia-Pacific will maintain its current pattern of dominance in the selective soldering market. This is a result of the increased public understanding of the advantages of selective soldering versus traditional soldering. Another element causing growth is the development and expansion of the electric and electronic industries. The market growth rate will also be aided by the growing need for selective soldering from the automotive industry.

In the upcoming years, Asia Pacific is predicted to rule the market for soldering equipment globally. The government's growing emphasis on improving the manufacturing infrastructure in developing nations like China and India should be credited with this. Additionally, the region's need for soldering equipment is anticipated to be driven by South Asian nations' cheap labor and manufacturing costs. In the upcoming years, the market for soldering equipment is anticipated to develop as a result of the region's economies, including those of Mexico and Argentina, beginning to recover economically. In addition, it is projected that growing demand for soldering equipment from the European construction, electronics, and automotive industries would support market expansion for soldering equipment in the near future.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Kurtz Ersa (Germany)
• Nordson (U.S.)
• ITW EAE (U.S.)
• Pillar house (U.S.)
• SEHO Systems GmbH (Germany)
• Shenzhen JT Automation (China)
• Sun east (U.S.)
• JUKI (Japan)
• Senju Metal Industry Co., Ltd (Japan)
• ZSW ELECTRONIC (Germany)
• Seitec (Germany)
• Seica (Germany)
• Hentec Industries (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.