Soldering iron is an instrument used for soldering. It provides heat to metals 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 certain kind of production work in electronic assembly. Now a days, simple soldering iron are not commonly used as compare to past.
Key factors driving the growth of the soldering iron market include increase in investment in manufacturing facilities and initiatives taken by the governments of emerging economies to attract foreign investments into the countries. Moreover, rapid growth in the automotive and consumer electronics industries is likely to drive the demand for soldering iron in the near future. The boom in e-commerce market has created lucrative opportunities for producers and suppliers of soldering iron. In order to cater to a wide base of customers across the globe, manufacturers and distributors of soldering iron are focusing on selling their products through various e-commerce portals. However, 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.
The global soldering iron market can be segmented based on product type, distribution channel, end-user, and region. Based on product type, the global soldering iron market can be classified into soldering pencils, soldering guns, and soldering stations. In terms of distribution channel, the market can be categorized into online and offline. The offline distribution channel segment can be further divided into specialty stores, supermarkets, hypermarkets, and departmental stores. The online distribution channel includes e-commerce websites. On the basis of end-user, the global soldering iron market can be segmented into consumer electronics, manufacturing, automotive, aerospace & defense, and education. In terms of region, the global soldering iron market can be bifurcated into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The soldering iron market in Europe is estimated to grow rapidly during the forecast period due to increase in demand of soldering iron in automotive, electronics, and construction industries in the region. Asia Pacific is anticipated to dominate the global soldering iron market during the forecast period owing to low production cost, easy availability of labor, and increase in focus of government toward building manufacturing facilities in emerging economies such as China, India, Indonesia, Malaysia, etc. The soldering iron market in South America is projected to expand at a constant growth rate in the next few years, due to improvement in economic conditions of countries such as Brazil, Colombia, Argentina, Chile, etc.
Prominent players operating in the global soldering iron market include American Hakko Products, Inc., General Wireless Operations Inc. (Radio Shack), Stahl Tools, ZENY Products, Aoyue Tongyi Electronic Equipment, JBC S.L., Apex Tool Group (Weller), X-tronic International Inc., Vastar, Antex Limited, Sywon, and Tabigar. These players are projected to face tough competition in the next few years due to the presence of a large number of local players in the market. These manufacturers are focusing on innovation in products and research & development activities to strengthen their foothold in the global soldering iron market. Global companies 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.
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