New York, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pin Insertion Machine Market with COVID-19 impact analysis by Method, Technology, Insertion Platform, Application And Geography - Global Forecast to 2025" - https://www.reportlinker.com/p03814555/?utm_source=GNW
COVID-19 sent both demand- and supply-side shocks across the global economy.Leading pin insertion machine provider TE Connectivity (Switzerland) has incurred significant losses owing to the pandemic.
The company reported a decline of approximately 15% in its half-year revenue as compared to the previous year.The automotive industry is severely impacted due to the coronavirus pandemic.
After initial supply and manufacturing disruptions, the industry is now experiencing a demand shock with an uncertain recovery timeline.Also, consumers have reduced their spending on expensive products, such as premium smartphones, wearables, and smart home systems.
This has resulted in a decline in the demand for pin insertion machines, further weakening the financial position of most of the key manufacturers.
Automotive: The fastest growing application segment of the pin insertion machine market.
With ongoing trends such as touch-free human–machine interfaces revolutionizing the automotive sector, there is a growing significance of connected cars.The introduction of technologies such as advanced driver assistance systems (ADAS), adaptive cruise control, and intelligent parking assistance systems demand printed electronic boards that have zero defects in their circuits.
The miniaturization of electronic components and circuitry and the functional requirement for electronics to work reliably in harsh environmental conditions are generating significant demand for pin insertion machines in the automobile application.
PCB: The largest growing segment of pin insertion machine market, by insertion platform.
Based on the 2018 Cisco Global Cloud Index, the number of hyperscale data centers is expected to grow from 338 in 2016 to 628 by 2021.This increase in the number of data centers raises the need for electronic products such as LED monitors, touchscreen panels, and motherboard, which itself is a PCB (printed circuit board).
These devices need high-accuracy PCB systems with reliable electrical connections.The pin insertion machine is widely used for press-fit technology in the PCB assembly line for high-speed, precise insertion of pins and to reduce the processing time.
Moreover, with trends such as digitization and electronic mobility shaping the technological landscape, the demand for portable gadgets is increasing. These small-sized gadgets mandate the requirement for increased component density on PCBs, which contributes to the demand for pin insertion machines to facilitate efficient component assembly.
APAC is projected to be the fastest growing geographical market between 2020 and 2025
APAC is expected to grow at the highest CAGR between 2020 and 2025.The high growth rate of APAC is attributed to the growing adoption of connected devices and the increasing investments in semiconductor manufacturing during the forecast period.
In the next decade, the South Korean government will invest nearly USD 1.3 billion in the next-generation Intelligent Semiconductor Technology Development Project for developing innovative technologies and creating manufacturing hubs for the development of next-generation chips, thereby creating new revenue pockets for pin insertion machine manufacturers.
Breakdown of profiles of primary participants:
• By Company: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Directors = 25%, and Others = 40%
• By Region: North America – 40%, Europe– 25%, APAC – 20%, and RoW – 5%
Major players profiled in this report:
The pin insertion machine market is dominated by a few globally established players such as TE Connectivity (Switzerland), Autosplice (US), Eberhard (Germany), HARMONTRONICS (China), and UMG Technologies (US).
Research coverage
This research report segments the global pin insertion machine market based on Method (Manual, Semi-automatic, and Fully Automatic), Technology (Press-fit, Through-hole, and Surface-mount), Insertion Platform (PCB, Coil Frame, Lead Frame, Transformer, Plastic Connector, and Metal Component), Application (Telecommunications, Consumer Electronics, Aerospace & Defense, Automotive, Medical, Industrial, Energy & Power, and Others), and Geography (North America, Europe, APAC, and RoW).
The report also provides a comprehensive review of market drivers, restraints, challenges, and opportunities pertaining to the pin insertion machine market and also includes value chain. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall pin insertion machine market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p03814555/?utm_source=GNW
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December 03, 2020 at 04:34PM
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The global pin insertion machine market size is estimated to be USD 195 million in 2020 and is projected to reach 255 million by 2025, at a CAGR of 5.6% - GlobeNewswire
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