NEW YORK, March 31, 2016 /PRNewswire/ -- The pin insertion machine market is expected to grow at a CAGR of 4.9% between 2016 and 2022. A key driving factor for the growth of this market is need for the miniaturization of electronic devices. Moreover, other factors such as demand for flexible, cost-effective, and precise techniques for inserting connectors on the PCBs and need for pin installation machines in surgical instrument assembly are also driving the demand for the pin insertion machine market.
The pin insertion machine market for the automotive industry expected to grow at the highest CAGR
The market for the automotive industry is estimated to grow at a high CAGR during the forecast period. The need for sophisticated automotive electronic systems for safety, infotainment, and media in luxury cars and SUVs and passenger cars is one of the factors for high growth of the pin insertion machine market for the automotive industry. Additionally, the use of solderless press-fit terminals for the electronic connection is increasing in the automotive industry; the use of pin insertion machines for inserting press-fit terminals is driving the market for the automotive industry.
APAC is the fastest-growing market for pin insertion machines
The market in APAC is expected to grow at a high CAGR between 2016 and 2022. The region has witnessed significant growth in manufacturing activities due to low manufacturing costs and the support of the local governments. Increasing investment in research and development is also one of the key drivers for the growth of this market in APAC. The APAC market for pin insertion machines is expected to grow further. The increasing penetration of wireless communication standards and rising demand for 3G/4G networks are boosting the market for applications in the telecommunication sector in this APAC region.
Break-up of profile of primary participants for the report is given below:
- By Company Type – Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
- By Designation – C-Level – 45% and Manager Level – 55%
- By Region – North America - 20%, Europe – 25%, APAC – 40%, and RoW – 15%
The key players in this market are TE Connectivity (Switzerland), SPIROL International Corporation (U.S.), Autosplice Inc. (U.S.), FINECS Co., Ltd. (Japan), CMS Electronics GmbH (Austria), Föhrenbach Application Tooling N.V. (Germany), Assembly & Automation Technology, Inc. (U.S.), Colibri Technologies Pte. Ltd.(Singapore), Visumatic Industrial Products (U.S.), and Zierick Manufacturing Corporation (U.S.).
Reasons to Buy the Report:
- This report includes the market statistics pertaining to method, industry, and geography.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the pin insertion machine market.
- Major drivers, restraints, and opportunities for the pin insertion machine market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets have been conducted to give an overall view of the pin insertion machine market.
- A detailed competitive landscape includes key players, in-depth analysis, and revenue of key players.
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