Soldering Iron Market: Introduction
- Soldering iron is a hand tool used for soldering. It provides heat to metal solders so that it can flow into the joint between two workpieces. Soldering iron consists of a copper tip and a handle. Heating is often achieved electrically, by passing electric current through a resistive heating element.
- Soldering iron is commonly used for fittings, repairs, and specific production work in electronic assembly. These days, simple soldering iron is not commonly used like earlier.
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Growing Manufacturing Sector: A Key Driver
- Key factors driving the growth of the soldering iron market include increase in investment in manufacturing facilities and initiatives taken by governments of emerging economies to attract foreign investments. Moreover, rapid growth in automotive and consumer electronics industries is likely to drive the demand for soldering iron in the near future. The boom in e-commerce has created lucrative opportunities for producers and suppliers of soldering iron. Manufacturers and distributors of soldering iron are focusing on selling their products through various e-commerce portals in order to cater to a wide base of customers across the globe.
Lack of Adoption of Advanced Techniques: A Key Restraint
- Slow adoption of advanced soldering processes in emerging economies and large number of local players offering soldering iron at comparatively low prices are some of the major factors anticipated to hamper the soldering iron market in the next few years. Worldwide lockdowns due to COVID-19 has affected the growth of smaller and medium sized engineereing and commercial service businesses. This also is a restraint to the growth of the soldering iron market.
Asia Pacific a Potential Market for Soldering Iron
- The global soldering iron market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the soldering iron market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The soldering iron market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacifc is expected to remain a potential market for the growth of soldering iron during the forecast period, owing to robust growth in small and mid sized emterprises coupled with rising investment of multinational players in this sector in the region.
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Key Players Operating in the Global Soldering Iron Market
The global soldering iron market is consolidated in nature, due to presence of a large number of regional and global players. Key players are engaging in mergers & acquisitions and joint ventures with local players to expand their product portfolio. Manufacturers in developing countries are focusing on reducing their cost of production and increasing profitability for sustainable growth of their business.
A few of the key players operating in the global soldering iron market are as follows:
- American Hakko Products, Inc.
- Antex Limited
- Aoyue Tongyi Electronic Equipment
- Apex Tool Group
- General Wireless Operations Inc.
- JBC S.L.
- Sharang Corporation
- Stahl Tools
- X-tronic International Inc.
- ZENY Products
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