Press Fit Machines Market Forecast and CAGR
According to the latest study by Fact.MR, press fit machines market is expected to show substantial growth over the forecast period (2021-2031). Growing electrical & electronics market will give major boost to the press fit machine sales. Moreover, constant demand from automotive industry is projected to drive the press fit machine market at a CAGR of around ~5% over the next decade.
What is Driving Demand for Press Fit Machines?
With emerging trend of industry 4.0 automation is already becoming a reality with big companies trying to adapt efficient processes in order to cut cost and meet specific design requirements. For instance, insertion in PCB boards has become a hassle free task with help of machine pin which further attribute towards the growing demand of machines.
Additionally, penetration of automation has led to surge in demand for electronic products such as printed circuit boards (PCB) which find its application in various sectors such as industrial, medical and automotive. These sectors have propelled the demand for PCB boards which in turn is driving the press fit machines sales.
Moreover, various features in vehicles are now controlled by ECU (Electrical Control Unit) which are compact and more electrically connected. These specifications have been included by market players to meet the rising trend of miniaturization eventually driving the sales of these machines in the long run.
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Medical Industry All Set to Propel the Growth of Press Fit Machines
PCB finds huge application in the medical and healthcare industry. Applications such as diagnostic and monitoring need efficiently integrated circuit boards for scanning and other medical equipment. Press fit machines have insured a streamlined process to manufacture PCBs for medical instruments.
Additionally, with a market share of around ~23% medical industry is a fast growing segment for the consumption of PCB which has eventually contributed significantly in driving the sales for machines.
Moreover, with technological developments taking place in the medical industry electronic board production and consumption is only going to increase which turns out to be a major factor bolstering the growth of machines in the long run.
Asia Pacific Press Fit Machines Market Outlook
Asia Pacific is the leading consumer electronics and semiconductor market both in terms of production and consumption. This is attributed to the presence of some prominent players such as Renesas, Toshiba and Sony along with well-established manufacturing centers all over the region.
Additionally, the region captures around ~60% of the electronics market share which has turned out to be a major factor contributing towards the growth in demand and sales of press fit machines.
Moreover, consumer electronics segment in the region over past half-decade has also experienced an impressive y-o-y growth attributed to huge spending on innovation coupled with growing disposable income leading to a surge in demand for PCB boards. These factors stated had a huge impact on the press machine industry which led to its substantial growth in last decade.
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North America Press Fit Machines Market Outlook
North America is expected to show a significant growth in terms of consumption of print machines mainly attributed to the rise in demand of high-end electronics product along with well-established automotive sector in the region.
Additionally, over the past half-decade sales of PCB boards have been significant. This is mainly due to rise in demand for consumer electronics. For instance, in 2018 North America accounted for around ~19.6% of the global semiconductor sales which eventually increased the production of PCB hence driving the press machine sales in the region.
Who are the Key Manufacturers and Suppliers of Press Fit Machines?
Some of the key players in press fit machine industry are SYNEO, Autosplice, Eberhard, Ept GmbH, Fohrenbach, Lazpiur, Nextronics Engineering, Shenzhen Zhizhan Electronics, TE Connectivity, and UMG Technologies.
Over the years above mentioned players have mainly relied on organic growth strategies such as product launches and innovation to expand their customer base and market share.
An Adaptive Approach to Modern-day Research Needs
Press Fit Machine Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
By Frame Type
By Press Force
- 1 Ton
- 5 Ton
- 8 Ton
By Press Type
By Board Type
- Backplane PCB Board
- Daughter PCB Board
- Single pin insertion
- Mass termination
By End Use
- Electrical & Electronics
- Consumer electronics
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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