Global Pin Insertion Machines Market to Reach $244.1 Million by 2026

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Aug 11, 2021, 11:30 ET

SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Pin Insertion Machines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: August 2021
Executive Pool: 382
Companies: 51 - Players covered include Assembly & Automation Technology, Inc.; Autosplice, Inc.; Cms Electronics Gmbh; Finecs Co., Ltd.; Fohrenbach Application Tooling N.V.; SPIROL International Corporation; TE Connectivity Ltd.; Visumatic Industrial Products; Zierick Manufacturing Corporation and Others.
Coverage: All major geographies and key segments
Segments: Method (Fully Automatic, Semi-Automatic, Manual); Technology (Press-Fit, Through-Hole, Surface Mount); End-Use (Consumer Electronics, Telecommunications, Medical, Automotive, Aerospace & Defense, Energy & Power, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Pin Insertion Machines Market to Reach $244.1 Million by 2026
Pin insertion machines are mechanical or automatic devices intended to insert pins into electrical components or a perforated electronic component into through-holes in printed circuit boards. These machines allow electronic assembly of interconnections application to printed circuit boards, plastic connectors and coil frames to support small- to large-scale production. Pin insertion technology is highly customizable and cost-efficient in comparison to complete connectors. These machines come with different pin press dimensions and shapes for addressing specific requirements of production processes. Pin insertion machines are extensively used in a broad range of industries for electrical components like connectors, printed circuit boards, lead frames and transformers. Depending on pins, equipment feeds and configurations, these systems are capable of performing pin insertion or bending along with other tasks in an efficient manner. In addition, these machines can be easily adapted for specific pin-press shapes or combinations as per requirements of end-use applications. Pin insertion machines hold numerous benefits like enhanced labor power, installation density, anti-vibration capability, and frequency properties. Moreover, these machines play an important role in increasing labor productivity while lowering product costs.

Amid the COVID-19 crisis, the global market for Pin Insertion Machines estimated at US$182.9 Million in the year 2020, is projected to reach a revised size of US$244.1 Million by 2026, growing at a CAGR of 5.1% over the analysis period. Fully Automatic, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$93.2 Million by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Semi-Automatic segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 42.4% share of the global Pin Insertion Machines market.

The U.S. Market is Estimated at $21.5 Million by 2021, While China is Forecast to Reach $59.9 Million by 2026
The Pin Insertion Machines market in the U.S. is estimated at US$21.5 Million in the year 2021. The country currently accounts for a 11.6% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$59.9 Million in the year 2026 trailing a CAGR of 6.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach US$64.2 Million by the close of the analysis period.

The market will continue to benefit from the strong outlook for the PCB market. The global PCB market exhibits strong potential for growth, given the increased demand from the consumer electronics industry, particularly for making computers, peripherals and other electronics devices. At the same time, demand for PCBs is also expected to grow at a robust pace from sectors including medical devices, automotive electronics, aerospace, education and industries. Additional drivers that would benefit the PCB market growth include the Internet of Things, increased connectivity and demand for surveillance technology. The non-standard board deployment is likely to witness increases, as demand escalates for small form-factor, rigid-flex, high speed and green (such as no lead soldering) boards. The shrinking components size is enabling use in small-form, compact devices ranging from laptops, wearable gadgets, handheld cameras to flexible displays and minimally-invasive medical devices. The availability of flexible PCB technology is particularly encouraging the use of flex-rigid and flexible PCBs.

The increasing transition of numerous markets towards thinner and smaller electronic devices is paving way for miniaturized PCBs along with enabling solutions such as pin insertion machines. While mobile devices are coming in the format of smart watches, the automotive and aerospace industries are looking forward to lightweight and smaller devices for reducing emissions and pushing fuel economy. On the other hand, the medical industry requires smaller implantable devices, wearable sensors and handheld instruments. The production of these devices is creating the necessity for miniaturized PCBs that can be achieved by reducing board materials and size of copper features. Solutions such as ultra-thin substrates and pin insertion machines are enabling designers to achieve miniaturization without compromising over performance and reliability. New solutions available on the market are anticipated to increase density for integrated features associated with printed circuit boards in a cost-efficient and high throughput manner. Advanced solutions are enabling manufacturers to achieve PCB miniaturization for numerous benefits. These solutions and the resulting miniaturized PCBs are allowing companies to develop small pacemakers, catheters, cochlear implants, neuro-stimulators and smart prosthesis with potential to improve patient outcomes and quality of life.

Manual Segment to Reach $55.3 Million by 2026
In the global Manual segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$28.5 Million in the year 2020 will reach a projected size of US$35.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$19.6 Million by the year 2026. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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