Global Pin Inspection Equipment Market is projected to grow at a CAGR of 5.12% during the forecast period. The pin inspection equipment is the quality checker of PCB pins for helping in ruling out any defects such as missing or potential pin offsets, and for identifying co-planarity. The growing miniaturization of electronics is the major driver of the pin inspection equipment market. Increasing usage of PCB components in electronics is boosting the demand for pin inspection equipment. As such, the booming consumer electronics industry is significantly fueling the market growth of pin inspection equipment as this equipment provides improved defect analysis with better accuracy while increasing productivity. Strict regulations and standards related to quality control and inspection of PCBs along with technological advancements are also boosting the global pin inspection equipment market growth. PCBs manufacturers and assemblers are required to implement inspections for boards at different production stages in order to ensure both high quality and reliability of assembled PCBs by eliminating surface defects.
The opportunity for the pin inspection equipment market lies in the advancement in 3D pin inspection equipment. Market players are offering 3D pin inspection equipment in order to maintain their position while expanding their market reach, thus positively impacting the market growth. For example, Altus Group’s product, Koh Young – KY-P3 provides a 3D pin inspection technique and a combination of both advanced high-resolution optics and highly innovative vision algorithms for pin inspection industries. The company Nordson YESTECH also launched its new FX-940 ULTRA 3D AOI Inspection Solution at Prodcutronica 2019.
The global pin inspection equipment market is segmented on the basis of technology and geography. By technology, the global pin inspection equipment market is segmented into Automatic Optical Inspection (AOI), X-Ray Inspection, and others.
By Technology, X-Ray Inspection has a significant share in the global pin inspection equipment market
The X-Ray inspection is widely used in the process of PCB assembly in order to test the quality of PCBs which is regarded as the most important step by quality-oriented PCB manufacturers. The demand for X-Ray pin inspection equipment is driven due to its ability to find defects like wiring assemblies, semiconductor packaging, BGA solder defects, voids in solder joints, and high mix & low volume. It also provides high inspection speed while saving time. Some products available in the market which have X-Ray inspection equipment include Vitrox advanced 3d X-Ray Inspection (V810i Series) which is designed to specially cater to different sizes of PCB assembly, it enables examination at a micron level with maximum throughput. Viscon manufactures a 3d AXI system that is distinguished by fast handling and 3D image quality of up to 3 PCBs. It is usually used in production lines that require high throughput despite an extensive inspection of hidden solder joints. VJ Electoniix Inc. company pioneer in rework technologies and a global provider of advanced X-ray inspection and component counting systems released the XQuik III in their range of high-speed X-ray components. The market for pin inspection equipment based on Automatic Optical Inspection (AOI) technology is expected to rise at a decent pace over the forecast period on account of its ability to find defects like solder paste volume, component position, component absence, component polarity, and solder joints defects in a cost-effective manner.
APAC is the major pin inspection equipment market
Regionally, the global pin inspection equipment market is classified into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. The Asia Pacific accounted for the major market share in 2019 and will remain at its position till the end of the forecast period. This dominance is majorly attributed to the presence of China as the major electronic manufacturing hub in the region. Moreover, the growing semiconductor industry in countries South Korea and Taiwan with support from governments is further driving the market growth of pin inspection equipment in this region. According to data from the World Bank Group, India stands among the top 100 countries in ease of doing business and is now aiming at the top 50 brackets. As this continues, consumer electronics products and components produced in the country can be seen gaining impressive momentum. According to CEAMA (Consumer Electronics and Appliances Manufacturers Association), the overall production of consumer electronics increased from US$8.065 billion in 2015-16 to US$9.365 billion in 2016-17. The recently passed National Electronic Policy 2019 by the Union Cabinet holds high potential to make the country a global hub for Electronic System Design and Manufacturing (ESDM) while making the domestic electronics sector more globally competitive.
Market Players and Competitive Intelligence
The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants profiled as part of this section are OMRON Corporation, Gardien, Vision Engineering Ltd., Manncorp, Cognex Corporation, VITROX CORPORATION BERHAD, and Nordson Corporation.
|Growth Rate||CAGR of 5.12% during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Technology, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||OMRON Corporation, Gardien, Vision Engineering Ltd., Manncorp, Cognex Corporation, VITROX CORPORATION BERHAD, Nordson Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the pin inspection equipment market?
A1. Pin Inspection Equipment market is projected to grow at a CAGR of 5.12% during the forecast period.
Q2. Who are the major players in the pin inspection equipment market?
A2. Key industry participants profiled as part of the pin inspection equipment market report are OMRON Corporation, Gardien, Vision Engineering Ltd., Manncorp, Cognex Corporation, VITROX CORPORATION BERHAD, and Nordson Corporation.
Q3. How is the global pin inspection equipment market segmented?
A3. The global pin inspection equipment market is segmented on the basis of technology and geography.
Q4. What factors are anticipated to drive the pin inspection equipment market growth?
A4. The growing miniaturization of electronics is the major driver of the pin inspection equipment market.
Q5. Which region holds the largest market share in the pin inspection equipment market?
A5. The Asia Pacific region accounted for the major share in the pin inspection equipment market and will remain at its position till the end of the forecast period.
Vision Engineering Ltd.
VITROX CORPORATION BERHAD
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