Pin Insertion Machine Market Projected to Reach Us$ 270 Million by 2026

Pin Insertion Machine market size is projected to reach US$ 270 Million by 2026, and it is estimated to grow at around CAGR 5.6% during 2021-2026.Increasing penetration of digitization, electronic mobility leveraging IoT enabled connected portable devices including high end smartphones, smart wears and the rising demand for miniaturization of electronic products are the major factors driving the demand for pin insertion machines to facilitate efficient and seamless electronic component assembly. Growth in hyperscale data centers raising the need for electronic products such as touchscreen panel, LED monitors and motherboards is accelerating the demand for pin insertion machines in printed circuit board (PCB) assembly lines to offer high accuracy PCB systems with robust and reliable electrical connections. The growing adoption of evolving technologies in automotive sector such as advanced driver assistance system (ADAS), intelligent parking assistance systems are continuously creating the requirement of more electrical interconnections within a smaller packaging space and thus contributing to the Pin Insertion Machine market growth.

Pin Insertion Machine Market Segment Analysis- By Technology

By technology, Pin Insertion Machine Market has been segmented under Press-fit technology, Surface Mount technology and Through-hole technology. Press Fit technology dominated the market in 2020 and is estimated to hold the majorPin Insertion Machine Marketacquiring a share of 48% by 2026 owing to huge adoption of press fit technology in PCB assembly line for high speed, precise pin insertion to reduce processing time. Press-fit technology is widely adopted by semiconductor device manufacturers over conventional soldering process. This technology exhibits high reliability, high mechanical retaining force, high speed assembly process and no thermal stress on a PCB or connector. Such advanced and beneficiary capabilities of press fit technology are augmenting the growth of pin insertion machine market.

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Pin Insertion Machine Market Segment Analysis- By Industry Vertical

By industry vertical, Pin Insertion Machine Market has been segmented into Automotive, aerospace & defense, Healthcare, Consumer Electronics, Food & beverages, Power, Utilities, Logistics & transportation, Oil & Gas, Chemical, Agriculture and Others. Consumer electronics is estimated to account for the largest market share by 2026 due to burgeoning demand for IoT enabled connected devices among consumers. The growth in data centers and cloud computing solutions is significantly increasing the demand for touchscreen panels, LED monitors and motherboard. The ongoing trend of miniaturization of electronic components is bolstering the pin insertion machine market for offering precise insertion of connectors on PCBs.

Pin Insertion Machine Market Segment Analysis- By Geography

By Geography, Pin Insertion Machine Market has been segmented under North America, Europe, APAC, South America and RoW. APAC dominated the market in 2020 owing to rapid penetration of connected devices and rising investments in semiconductor manufacturing sector. The huge demand for consumer electronics in this region is set to drive the market. South Korean government announced to invest nearly USD 1.3 billion in the next decade for the next-generation Intelligent Semiconductor Technology Development Project developing innovative technologies and establishing manufacturing hubs for the development of next-generation chips, thereby creating new opportunities for pin insertion machine manufacturers. There has been a high adoption of electric vehicles in APAC region.The introduction of various advanced electronic devices in electric or hybrid cars is augmenting the need forminiaturization of electronic components. The functional requirement for electronic devices to work reliably in a defined congested space or harsh environmental conditions are generating significant demand for pin insertion machines.

Pin Insertion Machine Market Drivers

Increasing demand for miniaturization of electronic devices

Increasing adoption of IoT enabled connected devices to optimize real time applications is augmenting the market. Rising growth in miniaturization of electronic devices for accelerating portability is enabling interoperable, ubiquitous communication among smart connected devices is fostering the demand for pin insertion machines. The miniaturization has led to greater component density in PCB assembly and thus pin insertion machine has become mandatory in electronics manufacturing sector for inserting connectors or components inprinted circuit board (PCB) assembly process. Increasing investments towards digital transformations in business organizations to generate new business outcomes utilizing artificial intelligence, machine learning platform is generating new revenue pockets for Pin Insertion Machine Market.

Rising adoption of connected vehicles

The rapid transition of automotive industries towards advancement of vehicles to achieve an immersive experience is stimulating the market. The advanced electronic devices used in connected vehicles featuring ADAS, infotainment, V2X communication technology, adaptive cruise control, intelligent parking assistance system and other AI based applications require more electrical interconnections in the limited interior space of the vehicle and thus increasing the demand for the pin insertion machine offering efficient, high-speed assembly of interconnect components in advanced automotive electronics.

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Pin Insertion Machine Market Challenges

Requirement of high budget

Enterprises need huge capital to deploy semi-automatic and automatic machinery for pin insertion. Thus, many small and medium business enterprises are still reluctant to adopt this pin insertion machines due to budget constraint. However, significant investments on R&D is set to offset this challenge and promote a healthy growth during the later stages of 2021-2026.

Pin Insertion Machine Market Landscape

Product innovations, Acquisitions,Collaboration, and R&D activities are key strategies adopted by players in the Pin Insertion Machine market.In 2020, the market of Pin Insertion Machine industry outlook has been fragmented by several companies. Pin Insertion Machine top 10 companies include Advanced Mechatronics Solutions, CMS Electronics GmbH, HARMONTRONICS, TE Connectivity Ltd., Assembly & Automation Technology Inc., Eberhard, AutospliceInc, UMG Technologies, Spirol International Corporation, Lazipurand others.

Acquisitions/Product Innovations

In July 2021, TE Connectivity announced to sign a definite agreement for the acquisition of ERNI Group AG to expand its connectivity product portfolio particularly in high-speed and fine-pitch connectors for factory automation, automotive, medical and other industrial applications.

In November 2019, SPIROL International Corporation announced the opening of new manufacturing facility in Apodaca, Mexico to incorporate new technologies in product handling, process control and product inspection.

Key Takeaways

Consumer electronics is estimated to account for the largest market share by 2026 due to rising penetration of connected devices including high end smartphones and smart wears.

APAC is estimated to dominate the market during 2021-2026 owing to rising investments in semiconductor manufacturing facilities.

Increasing Penetration of connected cars and evolving trend of miniaturization of electronic devices are analyzed to stimulate the market during forecast period 2021-2026.

High deployment cost is one of the challenges impeding the Pin Insertion Machine Market growth.

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B. Surface Mount Technology Market

https://www.industryarc.com/Report/15454/surface-mount-technology-market.html

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