DUBAI, United Arab Emirates, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights, the reflow ovens market reached US$ 987.2 Mn in 2023 and it is expected to touch a valuation of US$ 1,518.5 Mn by 2033. Total reflow oven sales are likely to exhibit a CAGR of 4.4% during the projection (2023-2033).
Robust growth of electronics and semiconductor industries across the globe supported by rapid penetration of digitalization is a key factor driving the global reflow oven market forward.
Reflow soldering, a process in which a solder paste is utilized to mount or attach one or many electrical components to their contact pads, has become a crucial step in manufacturing electronic products. For this purpose, companies employ reflows ovens.
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Reflow ovens provide uniform heating across the entire board throughout the soldering process, preventing component breakage and ensuring strong electrical connections. They are widely used for applications like electronic component production, semiconductor packaging, and solar cell manufacturing.
Growing demand for smaller electronic devices worldwide is expected to boost the global reflow ovens market. Similarly, rising demand for lead-free soldering techniques along with growing awareness of the environmental risks caused by lead and other hazardous elements used in conventional soldering techniques is likely to fuel sales of reflow ovens during the forecast period.
Regionally, North America holds the largest market share, and it is expected to continue its dominance during the projection period. This is due to the rapid growth of electronics industry, increasing adoption of consumer electronics, and strong presence of leading reflow oven manufacturing companies.
In addition to this, increasing demand for advanced semiconductor devices and the continued expansion of manufacturing and assembly operations in the region will boost reflow oven market in North America during the next ten years.
Key Takeaways from the Reflow Oven Market Study:
- During the projection period 2023-2033, the reflow oven market is expected to expand at 4.4% CAGR.
- Based on product, vapor phase ovens segment holds a significant revenue share of the global market.
- By application, PCB and electronics segments will together generate maximum revenues through 2033.
- With booming electronics and semiconductor industries, the U.S. holds around 32.6% share of the global reflow oven market.
- The U.K. reflow oven market is expected to grow at 6.1% over the projection period.
- Reflow oven demand in India is likely to increase at 6.5% CAGR between 2023 and 2033.
- The China reflow oven market is anticipated to expand at 6.2% during the assessment period.
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Who is Winning?
Leading players in the market include JLW Electronics, Nordson Corporation, Vitronics Soltec, Electrovert Limited, and PVA Tepla America. New product launches with enhanced features, acquisitions, mergers, and facility expansions are some of the key strategies adopted by these reflow oven manufacturers.
Get Valuable Insights into Reflow Oven Market
FMI, in its new offering, provides an unbiased analysis of the Reflow Oven market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Reflow Oven market based on Product (Vapor Phase Ovens, Infrared & Convection Ovens), Application (PCB, Electronics, Semiconductor Packaging, Solar Cell Manufacturing), and Sales Channel (Online, Offline), across several regions.
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Given Below are the Reflow Oven Market Segments
By Product:
- Vapor Phase Ovens
- Infrared & Convection Ovens
By Application:
- PCB
- Electronics
- Semiconductor Packaging
- Solar Cell Manufacturing
By Sales Channel:
- Online
- Offline
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
- RoW
Table of Content:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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