The swift pace of technological advancement has prompted numerous industries to embrace innovative technologies and electrification, aiming to augment overall performance, production efficiency, and energy efficiency. A notable trend in industries involves the increasing adoption of automation, substituting manual labor and craftsmen with automated machines. This shift facilitates mass production, enhances cost-efficiency, and elevates the overall quality of manufactured products. Consequently, as industrialization intensifies, there is a concurrent surge in demand for electronic devices across multiple sectors. This heightened demand encompasses printed circuit boards (PCBs), sensors, circuit boards, and other electronic components, crucial for enhancing the efficiency of machinery.
In this era of burgeoning industrialization, various soldering techniques play a pivotal role in establishing connections between electrical circuits and components. Simultaneously, the rapid growth of electric vehicles (EVs) is a noteworthy outcome of industrialization, significantly impacting the soldering equipment market on a global scale. Statistics from authoritative sources such as Edison Electric Institute, InsideEVs.com, and HybridCars.com reveal a substantial increase in EV sales. Until March 31, 2019, a staggering 1.18 million electric vehicles were sold, representing an 81% surge compared to total EV sales in 2017. This upswing in EV demand within the automobile industry directly correlates with an increased need for soldering in electric components, thereby propelling the soldering equipment market forward.
Further data from Edison Electric Institute, InsideEVs.com, and HybridCars.com highlight that the top 10 automakers sold a cumulative total of 11.86 million EVs during the 2018-2019 period. This surge in electric vehicle sales intensifies the process of electrification within automobiles, consequently escalating the demand for soldering equipment. The automotive industry, being a major contributor to the demand for soldering equipment, is witnessing a paradigm shift toward electric vehicles, influencing the market dynamics significantly.
Moreover, the rising demand for robots across diverse applications such as teaching, assembly, material removal, aerospace and defense, healthcare, and various industrial applications is amplifying the necessity for soldering techniques. As industries increasingly turn to automation and robotics, soldering becomes an integral part of ensuring the seamless functionality and connectivity of electronic components. Thus, the overarching theme of growing industrialization emerges as a key driver fueling the anticipated growth of the global soldering equipment market in the forecast period. The transformative impact of industrialization extends beyond a singular sector, influencing various industries and shaping the trajectory of technological evolution on a global scale.
Report Attribute/Metric | Details |
---|---|
Market Opportunities | Emergence of nano particle based solder materials |
Market Dynamics | Rising demand for smart electronics and the advent of energy-efficient electronics and advancements in the soldering techniques through process automation |
Global Soldering Equipment Market Size was valued at USD 562.7 Billion in 2023. The Soldering Equipment market industry is projected to grow from USD 615.6 Billion in 2024 to USD 1,294.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.7% during the forecast period (2024 - 2032). The development of energy-efficient electronics, the rise in demand for smart devices, and improvements in soldering processes thanks to process automation, are the key market drivers enhancing the market growth.
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market is anticipated to be driven primarily by rising demand for smart electronics and the development of energy-efficient devices. Traditional micrometre soldering tools in the paste have a number of drawbacks, including high melting temperatures, which could cause unwelcome stress during the reflow operation, limited applications, and connection flaws. This prompted the development of several sub-microscopic and nanoparticle-based soldering tools. The expansion of the electronics refurbishment sector is anticipated to be the main driver of the soldering equipment market. The demand for these materials is also anticipated to increase over the projected period as a result of expanding electronic device production in the area and the existence of an important electronics aftermarket business. Significant research and development has gone into developing cutting-edge soldering tools, such Sn-Bi-Ag alloy, which has helped reduce thermal excursion during electronic assembly. In turn, this has made it unnecessary to employ the traditional wave soldering procedure, improving reliability and lowering energy costs. The replacement of lead solders has received significant attention from numerous governments throughout the world due to their harmful nature. However, a low lead-based solder is an environmentally friendly substitute that can be used up until the regulatory bodies enforce a complete prohibition. It is anticipated that increased adoption of these low-lead materials will support market expansion.
Over the course of the projected period, process automation advancements in soldering techniques are also anticipated to support market expansion. Automation has reduced the need for human involvement throughout the soldering process, increasing productivity. As a result, the market is anticipated to increase significantly in the years to come.
As new technologies are introduced, key players in the market for soldering stations and accessories are creating more sophisticated and high-quality products. Numerous new products were introduced to the market over the historical forecast period. These goods have distinct features and cutting-edge technology. One of the remarkable qualities of JBC stations is the ability to sleep and hibernate. This feature aids in bringing down the tool's tip temperature when it's not in use. As a result, you are permitted to use the tip up to five times more often than usual. The market for soldering equipment supports the growing demand for smaller devices as most electronics are predicted to become more compact. Despite being smaller than earlier generations, these devices contain a far higher component density and more connections per component. This means that while preserving the lowest form factor feasible, electronics can be more sophisticated and effective than ever before. Even more simplicity is provided by the fact that components can be positioned on either side of the circuit board. Less holes need to be drilled onto the boards, which leads to assembly processes that are quicker and more automated. All of this results in less time needed for production and setup, as well as lower costs.Thus, driving the Soldering Equipment market revenue.
The global Soldering Equipment market segmentation, based on Type, includes Reflow Soldering, Induction Soldering, Hot-bar Reflow, Laser Soldering, Mechanical Soldering, and Aluminum Soldering. Reflow soldering segment accounted for the largest revenue share in 2022. As it prevents damage from overheating, it is one of the methods for soldering that is most frequently employed in the electronics sector. The segment will develop because the process may also be applied to mass production.
The global Soldering Equipment market segmentation, based on Application, includes Consumer Electronics, Networking & Communication, Automotive, Aerospace & Defense, and Others. Consumer electronics segment dominated the global Soldering Equipment market in 2022.The expansion of this application area can be connected to the rising global demand for electronic gadgets. Additionally, the number of electronics manufacturing facilities has expanded in China, India, and South Korea due to increasing urbanisation, which is driving demand in the worldwide soldering equipment market. As a result of technical advancements and increasing product demand from several end-use industries worldwide, such as consumer goods and appliances, and telecommunications, the semiconductor business is also becoming more significant.
Figure 1: Global Soldering Equipment Market, by Application, 2022 & 2032 (USD Billion)Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Soldering Equipment Market dominated this market in 2022 (45.80%). This was linked to the country's expanding refurbishing sector. The growth is anticipated to increase during the projection period due to increased manufacture of sophisticated semiconductor devices.Further, the U.S. Soldering Equipment market held the largest market share, and the Canada Soldering Equipment market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL SOLDERING EQUIPMENT MARKET SHARE BY REGION 2022 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Soldering Equipment market accounted for the healthy market share in 2022.This is a result of the rise in demand for cutting-edge equipment from the electronics, automotive, and construction sectors.Further, the German Soldering Equipment market held the largest market share, and the U.K Soldering Equipment market was the fastest growing market in the European region.
The Asia Pacific Soldering Equipment market is expected to register significant growth from 2023 to 2032. It is predicted that the rise of the industry will be supported by the rising number of electronic device repair shops, which has led to a major growth of the electronics aftermarket in the region. Due to the shrinking size of devices, demand for these items in consumer electronics is predicted to increase, which is expected to fuel market expansion. Moreover, China’s Soldering Equipment market held the largest market share, and the Indian Soldering Equipment market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Soldering Equipment market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Soldering Equipment industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Soldering Equipment industry to benefit clients and increase the market sector. In recent years, the Soldering Equipment industry has offered some of the most significant advantages to medicine. Major players in the Soldering Equipment market, including Ersa GmbH, Pillarhouse International Ltd., RPS Automation Llc., Flacon Electronics Co. Ltd., 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 Ltd., JAPAN UNIX Co. Ltd., and Radyne Corporation, are attempting to increase market demand by investing in research and development operations.
The global electronics, semiconductor, thin-film, and thermal management markets are served by the Indium Corporation, a leading materials refiner, smelter, manufacturer, and supplier. Products include brazes, indium, gallium, germanium, and tin metals and inorganic compounds, indium, gallium, and fluxes, solders and fluxes, thermal interface materials, sputtering targets, and NanoFoil. The 1934-founded business includes offices and factories in China, Germany, India, Malaysia, Singapore, the United Kingdom, South Korea, and the United States. Two new AuSn pastes created for the higher processing temperatures and assembly needs required in high-power LED module array applications, such as those in the automotive, infrastructure, and horticulture, were added to Indium Corporation's range of tried-and-true pastes in June 2022.
Kester is a producer and supplier of interconnecting materials, as well as a provider of related services, for the markets for micro- and electronic-component assembly. There are solder pastes, thermal interface materials, lead-free bar solder alloys, solid and fluxed cored wires, sticky soldering fluxes, ultra-spheres, and solder forms solutions available. Metal analysis is one of the services offered by the company. Other services include lead-free solutions like alloys, component finishes, board finishes, flux and solder paste considerations, recommendations, references, and a solder analysis calculator. Electronic components and lead clippings are another service offered by the company. OEMs and service providers for electronics manufacturing are its clients. ALPHA HRL3 Solder Sphere, a lead-free, high reliability, low temperature alloy for ball mount applications, was introduced by Kester in May 2022. The alloy is intended to perform better than current low temperature alloys on the market in terms of drop shock and thermal cycling.
Ersa GmbH
Pillarhouse International Ltd.
RPS Automation Llc.
Flacon Electronics Co. Ltd.
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 Ltd.
JAPAN UNIX Co. Ltd.
Radyne Corporation
July 2022: A subsidiary of OK International and Dover, Metcal, a pioneer in tabletop soldering for electronics and industrial manufacturing, today announced the availability of its new HCT-910 Hot Air Rework System digital handheld convection tool. This hot air system is accurate, high-performance machinery that may be used for a variety of board soldering and reworking tasks.
Reflow Soldering
Induction Soldering
Hot-bar Reflow
Laser Soldering
Mechanical Soldering
Aluminum Soldering
Consumer Electronics
Networking & Communication
Automotive
Aerospace & Defense
Others
North America
US
Canada
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
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