The global reflow oven market is anticipated to expand at a CAGR of 4.4% during the assessment period (2023 to 2033), reaching a valuation of USD 987.2 Million in 2023. Furthermore, overall reflow oven sales are projected to total a market valuation of USD 1,518.5 Million by 2033.
At the end of 2022, the market for reflow ovens had a value of USD 945.6 Million, and in 2023, it is anticipated to register a year-on-year (Y-o-Y) growth rate of 4.2%.
A reflow oven is a type of industrial oven that is used to solder electronic components onto printed circuit boards (PCBs). The process of soldering electronic components onto PCBs is called reflow soldering.
Reflow soldering is a type of soldering that uses heat to melt the solder so that it can flow into the space between two metal surfaces, thus joining them together. For this process (reflow soldering), manufacturers use reflow ovens.
The advantage of using a reflow oven for soldering is that it can provide uniform heating across the entire board, which helps to prevent component damage and ensures reliable electrical connections.
Reflow ovens have become indispensable equipment or part of the surface mount technology process and both small and manufacturing units cannot do without these soldering machines as they do not want to compromise on the quality of their electronic products or devices.
Growing demand for compact electronic products across the world is emerging as a key factor spurring growth in the global reflow oven industry and the trend is expected to further escalate over the next ten years amid rapid penetration of digitalization.
Reflow ovens are being increasingly employed across industries like consumer electronics, automotive, and telecommunication to produce electronic components and assemblies. These soldering systems make the soldering process faster, improve throughput, and help to reduce costs.
Increasing production and export of electronic products like smartphones, computers, chips, medical devices, etc., will act as a catalyst triggering the development of the reflow oven market during the assessment period.
Similarly, robust growth of the semiconductor industry is projected to propel reflow oven demand over the next ten years. In recent years, there has been a sharp rise in the production and sales of semiconductors worldwide. For instance, as per the Semiconductor Industry Association (SIA), worldwide semiconductor industry sales reached the highest annual total of USD 555.9 billion in 2021.
Additionally, the rapid shift towards alternative energy sources like solar energy and rising awareness of the environmental risks caused by lead and other hazardous elements used in conventional soldering techniques will foster reflow oven sales during the forthcoming decade.
| Attribute | Key Insights |
|---|---|
| Reflow Oven Market Estimated Value (2023) | USD 987.2 Million |
| Projected Market Value (2033) | USD 1,518.5 Million |
| Value-based CAGR (2023 to 2033) | 4.4% |
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According to Future Market Insights, the global reflow oven market expanded at a CAGR of 4.2% between 2018 and 2022 and reached a total valuation of USD 945.6 Million at the end of 2022. However, with rising adoption across industries like electronics and semiconductors, total reflow oven demand is expected to rise at 4.4% CAGR during the forecast period (2023 to 2033).
Rising demand for lead-free soldering and miniaturization of electronic devices are some of the key factors expected to drive the global reflow oven industry swiftly during the assessment period.
The ever-increasing demand for miniaturized electronic devices has resulted in the need for more advanced and efficient manufacturing processes, which in turn is driving the growth in the global reflow oven industry.
In addition, the rising awareness about environmental hazards posed by lead and other hazardous materials used in traditional soldering methods is fueling the demand for lead-free soldering methods, which can be achieved by using reflow ovens. This rapid shift towards more eco-friendly solutions is expected to bolster reflow oven sales over the next ten years.
Several influential factors have been highlighted by FMI that is expected to boost the global market for reflow ovens during the projection period (2023 to 2033). Besides this, FMI analysts have also examined the upcoming threats, lucrative opportunities, and restraining elements that can impact reflow oven sales.
The drivers, opportunities, restraints, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
Rising Trend of Miniaturization and Increasing Sales of Consumer Electronic Fueling Demand in the USA
According to Future Market Insights, the USA accounts for around 32.6% share of the global reflow oven market and it is expected to continue growing at a strong pace in the coming years. Several factors are driving this growth, including the increasing demand for advanced semiconductor devices and the continued expansion of manufacturing and assembly operations in the country.
Similarly, the growing trend of miniaturization and increasing adoption of consumer electronics by Americans to fulfil daily life requirements in hassle-free ways are anticipated to create lucrative opportunities for reflow oven manufacturers over the projection period.
In addition, the USA is home to a number of leading manufacturers and suppliers of reflow ovens, which are benefiting from the growing demand for these products.
Availability of Innovative Soldering Machines at Affordable Prices Boosting Market in the UK
In recent years, the market for reflow ovens in the UK. has been growing rapidly. This is due to the increasing demand for high-quality and efficient reflow ovens in the nation. There are many manufacturers of reflow ovens in the UK who are constantly innovating and improving their products to meet the needs of their customers. The competition in the European Reflow Oven market is very intense, and this is driving down prices and making it easier for consumers to find affordable products.
Similarly, the growth of the reflow oven industry in the UK is on cards as more and more people discover the benefits of using these products. A CAGR of 6.1% has been predicted by FMI for the UK market during the projection period (2023 to 2033).
Increasing Export of Electronic Products Spurring Reflow Oven Sales in China
As per FMI, the overall market for reflow ovens in China is forecast to grow at a healthy CAGR of 6.2% during the assessment period (2023 to 2033). There are various factors that are driving the reflow oven industry in China.
Firstly, the country has seen an increase in the number of manufacturing and assembly operations being set up. This is due to the growing popularity of electronic products and the increasing complexity of their designs. Secondly, there has been a rise in the number of factories that are using automated production lines.
Besides these, the rising export of electronic products is a crucial factor generating demand for soldering systems like reflow ovens across China. According to the World Population Review, with an estimated export of USD 2.72 trillion worth of goods and services, China remained the world’s largest export. The country mostly exports electronic equipment and machinery such as computers, smartphones, broadcast equipment, integrated circuits, and office machine parts.
Demand to Remain High for Vapor Phase Ovens in the Market
Based on product, the global market for reflow ovens is segmented into vapour phase ovens and infrared & convection ovens. Among these, the vapour phase ovens segment holds a significant share of the global market. This is attributed to the rising adoption of vapour phase ovens across several end-use verticals.
Vapor phase ovens use thermal energy in a layer of vapor to achieve soldering. These ovens have a high heat transfer efficiency, resulting in less power usage. Further, these ovens can provide improved solder wetting and are suited to low-volume production. They do not require any protective gas for soldering. Thanks to these advantages, vapor phase ovens have become highly popular among end users.
However, the infrared & convection ovens segment is likely to grow at a higher CAGR over the next ten years. This is due to the growing usage of infrared & convection ovens on account of their ability to provide more accurate temperature control.
PCB and Electronics to Generate Maximum Revenues in the Market
As per FMI, PCB and electronics segments will generate the highest revenues in the global reflow oven industry, making them the most lucrative applications. This is attributed to the rising demand for PCBs and electronic devices and the growing usage of reflow ovens for processing PCB assemblies.
Reflow ovens have become popular soldering systems used for attaching surface mount components to printed circuit boards. These soldering machines ensure the formation of reliable solder joints without causing damage by overheating.
Growing production and sales of electronic devices due to factors like rapid digitalization and industrialization will further boost the growth of this segment during the forecast period.
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As the global market for reflow ovens continues to grow, so does the competition among manufacturers. The competitive landscape is becoming more complex, with a growing number of companies offering a wide range of products and services.
The top five companies account for less than 30% of the market share. Leading players in the market include JLW Electronics, Nordson Corporation, Vitronics Soltec, Electrovert Limited, and PVA Tepla America.
These companies are all well-established players in the industry and have a strong presence in key markets around the world. They offer a wide range of products and services and have strong brand recognition. Besides this, they adopt strategies such as partnerships, mergers, collaborations, and acquisitions to expand their global footprint.
Recent Developments:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 987.2 Million |
| Projected Market Size (2033) | USD 1,518.5 Million |
| Anticipated Growth Rate (2023 to 2033) | 4.4% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA); RoW |
| Key Countries Covered | The USA, Canada, Mexico, Germany, The UK, France, Russia, Brazil, Argentina, Japan, Australia, China, India |
| Key Segments Covered | Product, Application, Sales Channel, Region |
| Key Companies Profiled | JLW Electronics; Nordson Corporation; ANTOM; Vitronics Soltec; REHM; Electrovert Limited; PVA Tepla America; BTU; Heller; Vitronics Soltec; SEHO; Shenzhen JT Automation; Speedline Technologies; ERSA; Folunwin; Nihon Handa; VIRTRONIC; Shenzhen Riding; Tamura; EIGHTECH TECTRON CO. LTD. |
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives |
The global reflow oven market size is expected to reach USD 987.2 Million in 2023.
Reflow oven demand is anticipated to grow at 4.4% CAGR between 2023 and 2033.
The worldwide reflow oven industry is projected to surpass a valuation of USD 1,518.5 Million by the end of 2032.
The US reflow oven market is expected to reach a valuation of USD 321.8 Million in 2023.
The US, Canada, Mexico, Argentina, Brazil, Germany, the UK, France, Italy, Russia, Spain China, Japan, India, and Australia are the major countries driving demand for reflow ovens.
Germany’s reflow oven industry is contributing 23.0% of the total market share which values at USD 227.1 Million.
JLW Electronics, Nordson Corporation, ANTOM, Vitronics Soltec, and REHM are the top 5 market players in the reflow oven industry.
Japan holds over 4.7% of the total market share in the global reflow oven industry.
Demand for reflow ovens is expected to grow at 6.5% CAGR between 2022 and 2032.
| Market Value for 2024 | USD 3,132.80 million |
|---|---|
| Market Value for 2034 | USD 5,006.70 million |
| Market Forecast CAGR for 2024 to 2034 | 4.80% |
| Market Value (2023) | USD 3.8 billion |
|---|---|
| Market Projected Value (2033) | USD 5.7 billion |
| Market CAGR (2023 to 2033) | 4.2% |
| Expected Market Value (2023) | USD 557 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 1,045.56 million |
| Projected CAGR (2023 to 2033) | 6.5% |
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