Soldering Gun: Market Outlook
Electronic devices have become an integral part of our day-to-day life and also a number of manufacturing industries. Electronic devices have a printed circuit board (PCB), on to which other components are attached by soldering using soldering guns or soldering iron. Soldering gun is a pistol or gun shaped, electrically powered type of soldering iron.
Soldering guns are used for repairing and assembling of circuit boards and electric components in electronic devices. Hence, they form an integral part of a wide range of industries like electrical and electronics, consumer electronics, automotive, aerospace, defence, and construction among others. Due to their indispensable role in these industries, the demand for soldering guns is anticipated to grow significantly over the coming years.
Soldering Gun: Market Dynamics
Incessant growth in IoT industry and the need for IoT devices, modernization of electric grids through smart grid adoption, and the insurmountable growth surrounding the wireless and electronic devices are some of the primary drivers pushing the demand for soldering guns around the world.
Rising prominence of electric vehicles due to the growing move towards sustainable and green energy has also been a prominent factor driving the demand for soldering guns. Electric vehicles are made up of a larger share of electronic components as compared to conventional vehicles, and hence the growing demand for electric vehicles is anticipated to have a positive impact on soldering guns market.
Industrial automation and the need for modernized, automated equipment has been a main factor driving the adoption of soldering guns in place of soldering iron. Due to their mode of operation, flexibility in wattage and ease of operation, soldering guns have been increasingly adopted in place of soldering irons.
Growing availability of low cost, counterfeit soldering guns in the market is one of the key challenges faced by major manufacturers in the global soldering guns market.
The COVID pandemic crisis is a dynamically changing scenario and is impacting major global economies drastically. The pandemic has impacted a number of end use industries, apart from healthcare and pharmaceuticals, taking a toll on the industrial output and economy of individual countries.
Widespread disruptions across supply chain networks and idling of manufacturing hubs is anticipated to cause a severe dent in the output of a number of end use industries, impacting the demand for soldering guns market.
However, with the resuming of economic activity particularly in electronics manufacturing sector, the growth of soldering guns will touch the base average growth levels in the next 2 to 3 quarters
Soldering Gun: Market Segmentation
The overall Soldering gun market can been segmented on the basis of wattage as:
The overall Soldering gun market can been segmented on the basis of distribution channel as:
The overall Soldering gun market can been segmented on the basis of end use as:
Soldering Gun Market: Regional Outlook
Asia Pacific is anticipated to dominate the soldering gun market owing to the booming industrialization in India and the manufacturing hub in China. In addition, the flourishing electronics industry in Asian countries like Japan, Taiwan, South Korea and Vietnam, and the rising electric vehicle production in China is anticipated to drive the demand for soldering gun market in the region.
Europe and North America are estimated to continue have a major share in the soldering gun market, given the growing demand for IoT devices, adoption of smart grid networks, and growing electric vehicles market.
Middle East & Africa is anticipated to create elevated demand in the coming years, owing to the growing influx of investments in a number of manufacturing industries and adoption of smart grid network in the region. GCC countries are estimated to create apex of the demand in the MEA region during the forecast period.
Soldering Gun Market: Market Participants
Some of the key market participants identified in the soldering gun market across the globe are:
Brief Approach to Research
The research report presents a comprehensive assessment of the Soldering gun market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Soldering gun market segments such as geographies, application and industry.
The report covers exhaustive analysis on:
Regional analysis includes:
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 in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Soldering gun market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Soldering gun market segments and geographies.