Almost every electronic device used today has a PCB (printed circuit board) and the components of PCBs are attached using a soldering technique.
For assembling and repairing of PCBs, the need for proper soldering of joints is necessary for the efficient working of electronic devices, and therefore, due to this factor, the demand for electric soldering iron gun is rising.
The adoption of electric soldering iron gun is increasing in various industries including aerospace, automotive, manufacturing, construction, and medical due to the growing electrification and adoption of advanced electronic equipment in these industries.
The ever-growing demand for high performance, low power, and highly integrated wireless devices for wide range of applications and growing deployment of automation systems in industries is creating potential growth opportunities for the electric soldering iron gun market.
Moreover, manufacturers around the world are focusing on adopting electric soldering iron guns for the quick and effective soldering process and to overcome the downsides of hand soldering. Also, the growing popularity of small sized electric soldering iron guns is further promoting the growth of electric soldering iron gun market.
The continuous growth in demand of IoT devices, smart grids, and wireless devices along with the ongoing developments in the industrial automation sector are the key factors driving the growth of electric soldering iron gun market.
Moreover, the rapid growth in electric vehicles, rising industrialization, and increasing penetration of multi-functionality electronic equipment in industries are propelling the growth of electric soldering iron gun market.
Furthermore, the increasing demand for automated soldering equipment is generating the potential growth opportunities for the electric soldering iron gun market.
Apart from this, the growing investments in expanding manufacturing and fabrication activities, especially in the construction, automotive, oil & gas and shipbuilding industries is generating the demand for electric soldering iron guns.
However, the contraction in demand for electric soldering iron guns in advanced economies and the availability of counterfeit equipment are the key challenges which hampers the growth of electric soldering iron gun market.
Future Market Insights is constantly monitoring the impact of COVID-19 on the world economy. The electronics and semiconductor industry is expected to be some of the hardest hit sector by the COVID-19.
As Asia Pacific accounted for largest share in the global semiconductor and electronics market, the disruption in this region amid COVID-19 outbreak is likely to have a significant impact on companies across the globe and up and down the electronics value chain.
The COVID-19 pandemic has brought disruptions in slowing down the supply chain and the fall in business confidence and efforts towards the innovation. In addition, various manufacturing hubs were temporarily idled to contain COVID-19’s spread which has a huge impact across the electronics value chain, from materials to final products.
Owing to these factors, the growth of electric soldering iron gun market is expected to contract in first three quarters of 2020, due to tumbling production and shutdown of manufacturing facilities across the globe.
However, according to estimates, if the COVID-19 pandemic situation gets controlled during Q4, 2020, the electric soldering iron gun market is expected to recover soon and is projected return to growth by Q4, 2021.
Furthermore, despite the growing uncertainty and panic, the investments towards wireless and automated devices is expected to create potential growth opportunities for electric soldering iron gun market and thus, the long-term outlook remains positive for electric soldering iron gun market.
Most of the leading players in the electric soldering iron gun market are focusing on entering into collaborations and partnerships with local and regional distributors and resellers to enhance their market presence and customer base. Some of the key players in the electric soldering iron gun market are
On the basis of regions, Asia Pacific is expected to be one of the key market for electric soldering iron gun market owing to the presence of various key manufacturers of electric soldering iron guns and increasing industrialization in the region.
Moreover, the continuous investments towards the adoption of advanced and wireless devices and growing automation in the industrial sector are driving the electric soldering iron gun market in the region.
The Electric Soldering Iron Gun market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and 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 market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The electric soldering iron gun market has been segmented on the basis of end use industry.
By End Use Industry
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Electric Soldering Iron Gun Market
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