The pin insertion machine market is projected to grow at a CAGR of 5.78% to reach US$328.032 million by 2026, from US$221.356 million in 2019.
A pin insertion machine is a machine used for inserting connectors and components into the circuit board, which has become important for the production of electronic devices.
In January 2019, SPIROL announced the release of a new highly versatile, heavy-duty installation machine. The Model PMH is designed for low-to-moderate volume production that requires insertion forces up to 1,500 lbs (6.7 kN).
Manufacturers are making thinner and compact monitors and screens, which require small PCBs with a high volume of connections. The widespread use of data center systems across various businesses and industries due to the high penetration of cloud computing solutions is projected to boost demand for LED displays, touchscreen panels, and motherboards, which are all PCBs themselves.
Impact of COVID-19 on the Pin Insertion Machine Market
The COVID-19 pandemic has negatively influenced the pin insertion machine industry. The shutting down of manufacturing facilities globally, combined with strict lockdown restrictions in various COVID-19 affected countries, impacted the operations of pin insertion machine manufacturing facilities.
The sudden halt in demand for electronic components is expected to be a major setback for the market. Consumers are also unlikely to spend their disposable income on electronic devices, which has lowered the demand for pin insertion machines.
|Market size value in 2019||US$221.356 million|
|Market size value in 2026||US$328.032 million|
|Growth Rate||CAGR of 5.78% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Technology, Method, Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Spirol International Corporation, Shenzhen Colibri Technologies Co., Ltd., TE Connectivity, Autosplice, Assembly and Automation Technology Inc, Visumatic Industrial Products, Finece Co. Ltd.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global pin insertion machine market?
A1. Pin Insertion Machine Market was valued at US$221.356 million in 2019.
Q2. What will be the pin insertion machine market size by 2026?
A2. The pin insertion machine market is projected to reach a total market size of US$328.032 million by 2026.
Q3. What are the growth prospects for the pin insertion machine market?
A3. The global pin insertion machine market is projected to grow at a CAGR of 5.78% during the forecast period.
Q4. What factors are anticipated to drive the pin insertion machine market growth?
A4. The major factors for the pin insertion machine market growth are rising demand for flexible, cost-effective, and precise techniques for inserting connectors on PCBs, the emerging trend of miniaturization of electronic devices, and recent advancements in automobile electronics.
Q5. How is the global pin insertion machine market segmented?
A5. The global pin insertion machine market has been segmented by technology, method, industry, and geography.
Spirol International Corporation
Shenzhen Colibri Technologies Co., Ltd.
Assembly and Automation Technology Inc
Visumatic Industrial Products
Finece Co. Ltd.
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