Global Press Fit Machines Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Press Fit Machines Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Press-Fit technology is a solderless termination technique used in electrical systems throughout the interconnect industry. A crimp connection is formed when the terminal core pins are pressed through a suitable plated hole on a PCB. Press Fit Machine is the machine that realizes this technology, which has exceptionally high reliability, plug-in safety, and easy operation.

Market Overview:

The latest research study on the global Press Fit Machines market finds that the global Press Fit Machines market reached a value of USD 94.9 million in 2022. It’s expected that the market will achieve USD 138.7 million by 2028, exhibiting a CAGR of 6.53% during the forecast period.

Influence of COVID-19 Outbreak on Press Fit Machines Industry Development

The COVID-19 pandemic has hampered economic growth in almost all countries. Manufacturing has been severely impacted by business shutdowns and lockdowns. Sales of various industrial products, including cars and electronics, fell. Offices, public places, schools, transportation, and other venues also remain closed, which reduces market growth. The semiconductor industry has been hit hard by the drop in demand for electronic components from the industrial sector and end users. Microelectronics' revenue model has declined as mass production has not taken place during the lockdown. The market demand for Press fit machines has dropped sharply. After the lockdown, the semiconductor industry started to regain market share as production facilities restarted operations with social distancing measures in place. Additionally, work-from-home and remote monitoring strategies are also helping to increase sales of advanced electronics for better connectivity. The market for Press fit machines is expected to slowly improve.

The automotive industry is increasingly using electronics and infotainment

Connected cars, driverless cars, modern telematics, and advanced infotainment systems are modern trends in the automotive industry. A growing number of manufacturers in the automotive industry are adding more electronic content through powertrain electrification and driver assistance systems. Electrical and infotainment systems require advanced connectors to support faster data transfer rates. Hence, with the increasing electrification of vehicles and the increasing adoption of in-vehicle telematics, the demand for Press fit machines is also increasing.
As the connected vehicle trend grows, so does the need for durable electrical and electronic systems. Applications such as in-vehicle navigation, infotainment, and electric and hybrid powertrains require many new connections. Therefore, companies engaged in these business areas are opting for Press fit technology to enhance and replace solder joints. Moreover, press-fit machines are expected to increase in automotive due to factors such as the adoption of lightweight components for improved fuel efficiency is driving manufacturers to adopt smarter electronic solutions and the ability of press-fit technology to withstand harsh environments such as extreme temperatures.

Emerging Trends in the Miniaturization of Electronic Devices

The packaging of electronic components is an evolving art driven by the need for compact, lightweight, portable, battery-operated products such as mobile phones, tablets, and laptops. The demand for miniaturization in the electronics market and the increasing complexity of devices have led to the need to package higher-density components in any PCB assembly than conventional components. Press-fit machines are used to insert connectors and components in circuit boards, which have become an important means of manufacturing electronic devices. Hence, the potential growth of electrical components in industries such as medicine, automotive, and aerospace is driving miniaturization technology, which in turn is driving the press fit machines market. Moreover, rising awareness of the COVID-19 situation across the globe has created a huge demand for personal health monitoring devices. Surging demand for personal health monitoring devices amid the current pandemic is expected to drive the press fit machines market.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

In 2022, the share of the Press Fit Machines market in China stood at 50.56%.

Company Overview:

TE Connectivity is one of the major players operating in the Press Fit Machines market, holding a share of 18.35% in 2022.

TE Connectivity designs and manufactures connectivity and sensor solutions. The company offers connector systems, terminals and assemblies, sensors, relays, heat shrink tubing, interventional medical components, wires and cables, and antennas. These products and solutions are used in a variety of industries including automotive, aerospace, defense, marine, industrial, medical, data and equipment, appliances, and energy.

Eberhard machines are used in a wide variety of industries, including the automotive industry, high-speed data transmission, industrial automation, and digital networking.

TE Connectivity is one of the major players operating in the Press Fit Machines market, holding a share of 18.35% in 2022.

Segmentation Overview:

Among different product types, Automatic Press Fit Machines segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Telecommunication segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Press Fit Machines market covered in Chapter 3:

Nextronics Engineering
Autosplice
Shenzhen Zhizhan Electronics
Föhrenbach Application Tooling
TE Connectivity
Eberhard
Harmontronics
SYNEO
UMG Technologies
Lazpiur
Ept GmbH

In Chapter 4 and Chapter 14.2, on the basis of types, the Press Fit Machines market from 2018 to 2029 is primarily split into:

Semi-Automatic Press Fit Machines
Automatic Press Fit Machines

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Press Fit Machines market from 2018 to 2029 covers:

Automotive
Consumer Electronics
Telecommunication
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)