Soldering in Electronics Assembly Market Revenue to Cross US$ 2,624.71 million by 2028: The Insight Partners

Increase in Miniaturization in Electronic Industry to Provide Growth Opportunities for Soldering in Electronics Assembly Market During 2023–2028

NEW YORK, UNITED STATES, April 24, 2023 /EINPresswire.com/ -- According to the new research report published by The Insight Partners on “Soldering in Electronics Assembly Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product," the market is expected to grow from US$ 2,001.96 million in 2023 to US$ 2,624.71 million by 2028; it is estimated to register a CAGR of 5.6% from 2023 to 2028.

Report Coverage - Soldering in Electronics Assembly Market

Report Coverage Details
Market Size Value in US$ 2,001.96 million in 2023
Market Size Value by US$ 2,624.71 million by 2028
Growth rate CAGR of 5.6% from 2023 to 2028
Forecast Period 2023-2028
Base Year 2023
No. of Pages 119
No. of Tables 29
No. of Charts & Figures 62
Historical data available Yes
Segments Covered Product

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The miniaturization of electronic components plays an important role in the electronic industry. It helps save space so that additional parts or technology can be integrated, or the overall size of consumer electronics, medical devices, automobiles, and more can be reduced. For instance, the reduced size of batteries helps with computer miniaturization. Moreover, miniaturization helps save the cost of the overall material used. For the miniature components, less material is used for the soldering, which helps to save the cost on the material used compared to normal-size components or devices. Such benefits of miniaturization are fueling the demand for this technique in the electronics market.

Moreover, the demand for solder pastes with smaller metal particle sizes for miniaturization propels the soldering in electronics assembly market size. France-based INVENTEC provides Ecorel Free JP32 and Ecorel Free HT 235-16LVD solder paste, which can be used in miniaturization for ultra-fine pitch electronics manufacturing applications. The company is developing more solder paste products due to the growing demand for miniaturization. Thus, an increase in miniaturization in the electronic industry is expected to provide growth opportunities for soldering in the electronics assembly market.

There is a growing use of lead-free soldering products in electronics assembly products which are contributing to soldering in electronics assembly market growth. Lead-free soldering in electronic assembly is an alternative to traditional lead solders, which have been widely used since the inception of the soldering process. Lead-free solders have better electric connectivity than lead products; they are not harmful to the environment; and the lack of toxic components provides lead-free soldering an edge over the alternative soldering assembly.

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In terms of revenue, China dominated the ASIA PACIFIC soldering in electronics assembly market share in 2022. China has become the manufacturing hub of the globe, especially for electronics. The major electronics manufacturers in the country include BYD Electronics; Foxconn Technology Group; MOKO Technology; DBG Technology; 3CEMS Group; and Shenzhen Kaifa Technology Co., Ltd. Government initiatives, such as Made in China 2025, to promote local manufacturing across the country are further contributing to the growth of the market. Additionally, the presence of several PCB manufacturers in the country is further expected to contribute to the market's growth. Some of them are NectPCB, JLCPCB, and Senyan Circuit Co., Ltd., among others. Moreover, several soldering in electronic assembly market players is present in the country. The increase in strategic initiatives taken by these companies is further contributing to the growth of the market.

Key Findings of Market Study:

There is a rise in the automotive and medical device manufacturing industries. The presence of several automotive and medical device manufacturers is driving the demand for various electronic components such as PCBs, switches, and circuits. The manufacturing of these products requires soldering for the effective bonding of smaller components. Additionally, the development of new production plants across the globe by automotive and electronics manufacturers is further expected to contribute to the soldering in electronics assembly market growth over the forecast period.

Electronic Design Automation Market: Competitive Landscape and Key Developments

A few major soldering in electronics assembly market players is Lucas-Milhaupt, Inc; GENMA Europe GmbH; S-Bond Technology; Fusion Incorporated.; Indium Corporation; KOKI Company Ltd; SUPERIOR FLUX & MFG. CO.; MacDermid Alpha Electronics Solutions; Nathan Trotter & Co., Inc.; and AIM Metals & Alloys LP, among others.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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