Rockville, MD, March 14, 2023 (GLOBE NEWSWIRE) -- As per the latest estimates by Fact.MR, a market research and competitive intelligence provider, the global pin insertion machines market is predicted to increase at a CAGR of 6.5% and reach US$ 389.3 million by the end of the forecast period.
Rapid growth can be attributed to the rising demand for electronic mobility leveraging IoT-enabled connected portable devices such as high-end smart wearable devices and phones, increasing use of digitization, and rising demand for miniaturization of electronic items. When producing electronic products, pin insertion machines are employed to place connections and other components in the circuit board. Pin insertion technologies are segmented into press-fit, through-hole, and surface-mount.
For applications that need trustworthy connections between layers, through-hole technology is used. Direct installation of components to the power circuit board (PCB) surfaces is accomplished using surface-mount technology. As a result, pin insertion machines are commonly employed in applications for consumer electronics and vehicles. Pin insertion devices are also widely used for non-PCB applications, such as sewing connectors, housings, and injection molding machine castings.
Consumer electronics is expected to hold the major market share in 2023 as a result of the rising customer demand for IoT-enabled connected devices. The demand for touchscreen displays, LED monitors, and motherboards is considerably rising as data centers and cloud computing platforms are becoming more popular.
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During the forecast period, Asia Pacific is expected to emerge as the most lucrative market for pin insertion machine manufacturers. Smart electronic gadgets have been widely adopted in the Asia Pacific region. Fully-automatic pin insertion machines are being purchased by electronic device makers as a result of the growing use of intricate and small electrical parts in these devices. Due to this, Asia Pacific is experiencing an increase in demand for pin insertion machines.
Other factors contributing to product sales growth include growing demand for 4G/5G networks and expanding adoption of wireless communication standards. Another major factor propelling sales in the Asia Pacific market is the rising investment in manufacturing semiconductors.
Key Takeaways from Market Study
- The global pin insertion machines market is valued at US$ 207.4 million in 2023.
- The market in China is predicted to expand at a CAGR of 7.5% over the forecast period.
- Sales of fully-automatic pin insertion machines are expected to rise at a CAGR of 7.5% over the next 10 years.
- Demand for semi-automatic pin insertion machines is predicted to increase at a CAGR of 6% from 2023 to 2033.
“Several technological advancements are propelling the demand for pin insertion technologies in sectors such as automobiles, electronics, and aerospace & defense”, says a Fact.MR analyst.
Key Segments of Pin Insertion Machines Industry Research
- By Method :
- Fully-automatic
- Semi-automatic
- Manual
- By Technology :
- Press-fit
- Through-hole
- Surface-mount
- By Insertion Platform :
- PCBs
- Coil Frames
- Lead Frames
- Transformers
- Plastic Connectors
- Metal Components
- By Application :
- Consumer Electronics
- Telecommunications
- Medical
- Automotive
- Aerospace & Defense
- Energy & Power
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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| Report Attributes | Details |
| Pin Insertion Machines Market Size (2023E) | US$ 207.4 Million |
| Forecasted Market Value (2033F) | US$ 389.3 Million |
| Global Market Growth Rate (2023 to 2033) | 6.5% CAGR |
| No. of Pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 227 Figures |
Competitive Analysis
Key manufacturers of pin insertion machines are adopting several organic and inorganic strategies to increase their market position and revenue shares. Mergers, acquisitions, partnerships, and new product launches are some of the marketing tactics.
- In November 2019, SPIROL International Corporation announced the establishment of its new manufacturing plant in Apodaca, Mexico to implement cutting-edge technologies in product handling, process control, and product inspection.
Key Companies Profiled
- TE Connectivity Ltd.
- Autosplice, Inc.
- SYNEO
- Universal Instruments Corporation
- Zierick Manufacturing Corporation
- Harmontronics Inc.
- Eberhard
- UMG Technologies
- Teeming Machinery Co., Ltd
- Itasca Automation Systems, LLC
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pin insertion machines market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on method (fully-automatic, semi-automatic, manual), technology (press-fit, through-hole, surface-mount), insertion platform (PCBs, coil frames, lead frames, transformers, plastic connectors, metal components), and application (consumer electronics, telecommunications, medical, automotive, aerospace & defense, energy & power), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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