Increase in the use of and demand for selective soldering for printed circuit boards (PCBs) is estimated to create profitable business opportunities in the global selective soldering market. Moreover the expansion of electric and electronics industries is likely to bring substantial expansion avenues in the market for selective soldering in the years ahead.
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R&D Projects: Key Expansion Strategy of Businesses in Selective Soldering Market
Some of the prominent companies operating in the global selective soldering market are Hentec Industries, SEHO Systems GmbH, Pillarhouse International, Manncorp.com., Nordson Corporation, SMTnet, Works Inc., Illinois Tool, DDM Novastar Inc, and Juki Americas.
Due to the presence of many players, the nature of the selective soldering market seems to be highly fragmented. Hence, enterprises are using organic as well inorganic strategies such as collaborations, partnerships, regional expansion, and joint ventures in order to expand their businesses in the selective soldering market.
Several companies in the selective soldering market are increasing their share of investments toward the R&D projects, which are focused on the development and launch of next-gen products. Moreover, major manufacturers are increasing focus on introduction of new features in their existing products. Such efforts indicate that the selective soldering market is likely to expand at promising pace in the upcoming years.
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Asia Pacific to Gain Prominent Position in Selective Soldering Market
The selective soldering market is prognosticated to gain lucrative opportunities in the Asia Pacific region. This growth can be attributed to many factors such as increase in knowledge on varied advantages of selective soldering process as compared to traditional soldering methods. Apart from this, the growth of regional electric and electronics industries is likely to drive the sales opportunities in the Asia Pacific selective soldering market in the years ahead.