PUNE, India, March 2, 2016 /PRNewswire/ --
According to the new market research report "Pin Insertion Machine Market by Method (Manual, Semi-Automatic, Fully Automatic), Technology (SMT, Press-Fit, THT) Industry (Telecommunication, Consumer Electronics, Automotive, Industrial Machinery), and Region - Global Trend and Forecast to 2022", published by MarketsandMarkets, the market is estimated to reach USD 276.7 Million by 2022, at a CAGR of 4.9% between 2016 and 2022.
Browse 69 Tables and 44 Figures spread through 135 Pages and in-depth TOC on "Pin Insertion Machine Market".
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Factors that are driving this market include need for the miniaturization of electronics devices; demand for flexible, cost-effective, and precise techniques for inserting connectors on the PCBs; and need for pin installation machines in surgical instrument assembly.
Pin insertion machines based on the semi-automatic method expected to lead the market
Pin insertion machines based on the semi-automatic method are expected to hold the largest market size during forecast period. Semi-automatic pin insertion machines are widely used for mid-volume production. Due to its features such as high insertion rate, ability to insert in different angles, flexibility to production change such as quickly replaceable insertion head, it has resulted in high demand for semi-automatic pin insertion machines. These machines have a feature of inserting pins in different angles without decreasing the insertion rate.
The market for automotive industry expected to grow at the highest rate between 2016 and 2022
The market for the automotive industry is expected to grow at the highest CAGR as the need for sophisticated automotive electronics systems for safety, infotainment, and media in luxury cars and SUVs and passenger cars is rising. 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. Moreover, the miniaturization of electronic components and circuitry and functional requirement for electronics to work reliably in harsh environmental condition is generating a significant demand for pin insertion machines in the automotive industry.
APAC expected to witness a rapid growth during the forecast period
The pin insertion machine market in APAC is expected to grow at the highest 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 during the forecast period.
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.).
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This research report categorizes the global pin insertion machine market based on method, industry, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the pin insertion machine market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on this market.
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