Global Soldering Equipment Market is expected to reach a value of USD 911.3 Million by 2025, registering a CAGR of 9.56% during the forecast period.
The report covers segmentation and drivers for a better glimpse of the market in the coming years. The soldering equipment market has registered significant growth in adoption rates over the past few years in developing nations, such as China, Australia, and Brazil, owing to the rising automotive production and growing automotive aftermarket. The soldering equipment market is mainly dependent upon the production and sales of automobiles. Thus, the fluctuations in demand for automobiles have impacted the market. In 2019, the global production volume for passenger and commercial vehicles was almost 91 million units. It is expected to record steady growth in the coming years.
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The soldering equipment market has witnessed significant growth owing to the increasing demand for electronic devices across every industry vertical. There exist several local, regional, and global players in the soldering equipment market who continuously strive to gain larger shares of the overall market. During the study, MRFR has analyzed some of the major 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. These companies emphasize product innovation and development to cater to companies across every industry vertical.
Among these, Ersa GmbH, Pillarhouse International Ltd., RPS Automation LLC, SEHO Systems GmbH, and JUKI Automation hold the top 5 positions in the global soldering equipment market. These players are focused on expanding and enhancing their product portfolios and services to remain competitive and increase their respective customer bases. Also, these players employ strategies such as partnerships & collaborations to expand business operations, and customer bases to enhance their market positions.
Global Soldering Equipment Market is segmented based on Type and Application. Based on type, the global market has been segmented into reflow soldering, induction soldering, hot-bar reflow, laser soldering, and mechanical and aluminum soldering. Among these, the reflow soldering segment dominated the market and was valued at USD 151.2 million in 2019. It is expected to record the highest CAGR of 11.10% during the review period.
Based on application, the global soldering equipment market has been segmented into consumer electronics, networking & communication, automotive, aerospace & defense, and others. Among these applications, the consumer electronics segment is expected to record the highest CAGR of 11% during the forecast period.
Based on region, the report on the Global Soldering Equipment Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to hold the largest share in the soldering equipment market throughout the forecast period, owing to the increase in foreign investments in developing the EV charging infrastructure due to the large population base and the growing economies of China, India, Japan, and Thailand. In the soldering equipment market in Asia-Pacific, China is expected to hold the largest share and grow at a rapid pace over the forecast period due to the rising per capita disposable income and growing automotive and consumer electronics sectors. Additionally, the increasing focus of the governments towards strengthening the manufacturing facilities in emerging countries, including India and China, is contributing to the dominance of the region in the soldering equipment market.
North America is the second-largest regional market for soldering equipment, and it is expected to witness significant growth as the demand for electronic equipment is high in the region. The US dominated the North America soldering equipment market as the country has a developed economy and the growing industries such as consumer electronics and aerospace & defense.
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