NEWARK, Del, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The global selective soldering market will reach US$ 249.4 million by 2033. It is estimated to record a steady CAGR of 4.7% from 2023 to 2033. It is likely to total US$ 157.7 million in 2023. The global selective soldering market registered an astonishing CAGR of 6.3% in the historical period between 2018 and 2022.
Selective soldering is used in the electronics manufacturing industry to accurately sell specific components onto printed circuit boards (PCBs). Unlike traditional wave soldering, which submerges the entire PCB in molten solder, selective soldering permits for targeted soldering of individual components, perfect for assemblies with mixed technology or sensitive parts. The selective soldering market includes the manufacturing, selling, and repairing of selective soldering equipment and associated technologies used in electronics manufacturing.
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Selective soldering is necessary when components are heat sensitive, such as surface mount devices (SMD) and connectors. This allows for precise control of the soldering process, dropping the risk of errors. Selective soldering is widely used in sectors such as automotive, aerospace, medical devices, telecommunications, and consumer electronics, where highly reliable soldering is required.
The trend toward smaller, compact devices with high-density PCBs requires precise soldering methods. Ecological regulations have led to the acceptance of lead-free soldering procedures, which precise temperature needs control. The need for intelligent manufacturing and connectivity drives demand for selective soldering machines that can assimilate with digital systems.
There is a growing demand for lead-free soldering solutions due to ecological regulations, alongside a need for machines capable of handling a variety of product configurations. The selective soldering market is internationally competitive, with key players in regions such as the United States, the United Kingdom, Japan, and China. The selective soldering market is projected to grow with advances in automation, integration of Industry 4.0 technology, and the growth of more complex soldering techniques.
Key Takeaways from the Selective Soldering Market Report
- The United States selective soldering market is projected to surge at a CAGR of 4.6% by 2033.
- The United Kingdom selective soldering market will be valued at US$ 8.3 million by 2033.
- Japan's selective soldering market is estimated to total US$ 21.4 million by 2033.
- South Korea's selective soldering market is expected to reach US$ 12.2 million by 2033.
- Based on application, the networking & and communication segment will likely witness a CAGR of 4.5% from 2023 to 2033.
"Due to growing disposable income per capita and growth in the automotive and electronics sectors, China will likely have the leading market share in Asia Pacific and surge rapidly. The United States has dominated the North American selective soldering industry due to its stable economy and booming industries such as aerospace, consumer electronics, and defense; trends that are likely to continue through 2033. “- opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
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Competitive Landscape
Leading players in the selective soldering market are introducing new and innovative products to meet the growing demand. International companies are entering several new markets in evolving regions to inflate their customer base and increase their presence. Key players likewise adopt several strategies, including joint ventures, acquisitions, mergers, new product development, and geographic expansion. They do this to expand market penetration and meet industry requirements.
For instance,
- In February 2022, Kimball Electronics POLAND SP.ZO.O. Prolonged its soldering equipment business facility in Poznan, Poland.
- In January 2022, Harima Chemicals Group acquired Henkel AG & Co.
- In May 2020, Metcal launched a high-performance welding system based on adjustable technology in the United States.
Restraints
Despite its advantages, the Selective Soldering Market faces some restraints. Challenges related to initial investment costs, the need for skilled operators, and the integration of selective soldering into existing manufacturing processes may hinder its widespread adoption.
Region-wise Insights - Category-wise Insights
Regionally, North America and Europe are expected to dominate the Selective Soldering Market, thanks to their robust electronics manufacturing industries. Meanwhile, Asia-Pacific is poised to witness rapid growth due to the expansion of electronics manufacturing in countries like China and India.
In terms of categories, the automotive and aerospace sectors are likely to be key growth areas for selective soldering applications. These industries demand high precision and reliability in PCB assembly, making selective soldering an ideal choice.
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Selective Soldering Market Outlook by Category
By Application:
- Networking & Communication
- Medical
- Industrial & Instrumentation
- Consumer Electronics
- Aerospace & Defense
- Automotive
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management in consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas, reflecting his growth-oriented approach to clients.
He is a firm believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently recognized him as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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