Soldering Tools and Kits Market: Players Resort To Product Innovation To Gain Competitive Advantage 2020 - 2030

 

Global Soldering Tools and Kits Market – Introduction

• Soldering is a process to join different types of metals by melting the solder. A hot iron is used to melt the solder. Temperature between 600 degrees to 650 degrees is enough to heat the solder. Various kinds of soldering tools such as soldering iron, wire cutter, tweezers, safety glass, soldering stand, and wet sponge together form a kit. The pandemic situation has led to an increase in the sale of soldering tools and kits through e-commerce portals and company owned websites. The impact of Covid-19 globally has increased online sales in various countries and has also fostered the growth in supply chain demand patterns.

Increasing usage in household work, automotive repair, electronic items, and electrical repairs etc. projected to drive the soldering tools and kits market

• Demand for soldering tools and kits is increasing due to its frequent use in household work including household repair such as fixing small holes in metal items, plumbing maintenance (quick repairs to copper and other metal pipes), and in repair of small engines in an automobile where more traditional welding methods are used. Major factors driving the soldering market are the rising demand for smart electronics and availability of energy-efficient electronics. The electronics refurbishing industry is also driving the growth of soldering kits.

Adoption of more modern ways of soldering techniques and processes in aerospace, automotive, manufacturing, and construction industries

• Big manufacturing players in the soldering business have been focusing on research and development extensively and are producing advanced soldering kits. One such company, Sn-Bi-Ag alloy has worked on reducing thermal excursion which takes temperature outside the prescribed range. Advancements have been made by implementing processes (for instance, wave process), that eliminates the damage caused by overheating. Such technological developments and the launch of innovative products has rapidly increased market sales. Governments have also taken initiatives to improve the manufacturing facilities of companies operating in soldering tools and kits, which has further led to the increase in sales of soldering tools.

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Asia Pacific considered the largest market for soldering tools and kits

• Geographically, the global soldering tools and kits market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
• North America is the second largest market for soldering tools and kits because of the growth of the electronics refurbishing industry. The industry is further expected to grow during the forecast period due to the rising manufacturing base for the electronics industry in countries such as Mexico. The US dominates the soldering market in North America as the country has developed industries such as consumer electronics, aerospace, and defense.
• Asia Pacific is likely to account for major share of the soldering market during the forecast period due to the dominant presence of the electronics sector in countries of the region. China, Japan, India, Thailand etc. have a higher population base using electric vehicles, leading to an increase in foreign investments in developing the infrastructure for electric vehicles. In Asia Pacific, China is expected to hold the largest share of the market due to its prominent presence in the growing automobile and consumer electronics sector.

Key Players Operating in the Soldering Tools and Kits Market

Prominent soldering tools and kits companies are estimated to face tough competition during the forecasted timeline. Companies such as TAMURA Corporation, ITW EAE, BTU International, SEHO, Senju Metal Industry, Japan Unix, Dremel, Portasol, Jameco Electronics, and Noel, manufacture soldering tools and kits. Most of the players are focusing on entering into partnerships with local and regional distributors. Companies focus on delivering high-performance solder alloys and raw materials for advanced soldered bonds in lesser time. Some of the key players operating in the global soldering tools and kits market include:

• TAMURA Corporation
• Mayor Alloys Corporation
• Kinequip, Inc.
• ITW EAE
• BTU International