Pin Insertion Machine Market Growing at 4.9% CAGR: Automotive Industry Expected to Soar at Highest CAGR
Need for the miniaturization of electronic devices driving the pin insertion machine market. The pin insertion machine market for the automotive industry expected to grow at the highest CAGR. APAC is the fastest-growing market for pin insertion machines.
Pune, India – March 8, 2016 /MarketersMedia/ —
The pin insertion machine market is expected to grow at a CAGR of 4.9% between 2016 and 2022. A key driving factor for the growth of this market is need for the miniaturization of electronic devices. Moreover, other factors such as demand for flexible, cost-effective, and precise techniques for inserting connectors on the PCBs and need for pin installation machines in surgical instrument assembly are also driving the demand for the pin insertion machine market.
Complete report on global pin insertion machine market spread across 135 pages, profiling 10 companies and supported with 69 tables and 44 figures is now available at http://www.rnrmarketresearch.com/pin-insertion-machine-market-by-method-manual-semi-automatic-fully-automatic-technology-smt-press-fit-tht-industry-telecommunication-consumer-electronics-automotive-industrial-machinery-and-region-g-st-to-2022-market-report.html .
The market for the automotive industry is estimated to grow at a high CAGR during the forecast period. The need for sophisticated automotive electronic systems for safety, infotainment, and media in luxury cars and SUVs and passenger cars is one of the factors for high growth of the pin insertion machine market for the automotive industry. Additionally, the use of solder less press-fit terminals for the electronic connection is increasing in the automotive industry; the use of pin insertion machines for inserting press-fit terminals is driving the market for the automotive industry.
The market in APAC is expected to grow at a high CAGR between 2016 and 2022. The region has witnessed significant growth in manufacturing activities due to low manufacturing costs and the support of the local governments. Increasing investment in research and development is also one of the key drivers for the growth of this market in APAC. The APAC market for pin insertion machines is expected to grow further. The increasing penetration of wireless communication standards and rising demand for 3G/4G networks are boosting the market for applications in the telecommunication sector in this APAC region.
The key players in this market are TE Connectivity (Switzerland), SPIROL International Corporation (U.S.), Autosplice Inc. (U.S.), FINECS Co., Ltd. (Japan), CMS Electronics GmbH (Austria), Föhrenbach Application Tooling N.V. (Germany), Assembly & Automation Technology, Inc. (U.S.), Colibri Technologies Pte. Ltd.(Singapore), Visumatic Industrial Products (U.S.), and Zierick Manufacturing Corporation (U.S.). Ask for a discount before order a copy of Pin Insertion Machine Market by Method (Manual, Semi-Automatic, Fully Automatic), Technology (SMT, Press-Fit, THT) Industry (Telecommunication, Consumer Electronics, Automotive, Industrial Machinery), and Region – Global Trend and Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=501318 .
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key opinion leaders in the amines market were conducted. In Tier 1 (40%), Tier 2 (30%), and Tier 3 (30%) companies. The interviews were conducted with various key people such as C-level (45%) and Manager Level (55%) operating in the pin insertion machine market. The primary interviews were conducted worldwide covering regions such as North America (20%), Europe (25%), APAC (40%) and RoW (15%).
On a related note, another research titled Machine Safety Market Global Trend & Forecast to 2020 says, the machine safety market is expected to witness significant growth in the coming years. The market for integrated components is projected to grow rapidly in the coming years. APAC is expected to be the fastest-growing market for machine safety during the forecast period. Companies like ABB Ltd., EUCHNER GMBH CO. KG, Honeywell International, IDEC Corp., Mitsubishi Electric Corp., PHOENIX CONTACT GmbH & Co. KG), Pilz GmbH & Co. KG, Rockwell Automation, Inc., Schneider Electric SE and Siemens AG have been profiled in this research report available at http://www.rnrmarketresearch.com/machine-safety-market-2013-2018-by-products-presence-sensing-sensors-emergency-stop-controls-interlocks-relays-plc-applications-assembly-metal-works-packaging-robotics-standards-euro-market-report.html .
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