The market for pin marking machines is projected to be worth US$ 618 million in 2022. The market for pin marking machines is expected to grow gradually through 2032, with a CAGR of 4.8 percent, to reach US$ 987 million.
Pin marking machine is equipment that uses direct pin marking process to permanently mark parts of product with information such as part number, serial no, barcodes, batch number and date codes which allow tracking the part through the life cycle of the product. The pin marking machine uses a pneumatic or electric pin to stamp or engraves small series of spaced dots to mark brief of the product for the permanent period ensuring 100% reliable part traceability.
Global Pin Marking Machine Market: Dynamics
Pin marking machine is driven by embossing permanent information to the parts of the products that gives them unique identification. Rapid and high-performance dot is achieved through pin marking on various metal and plastic part, which are visible throughout the product life cycle and it becomes easy to identify the related information about the embossed part thus gives pin marking machines market as a potential growth factor.
Pin marking machine are driven by the automotive industry owing to its robust use in embossing serial number and batch number on parts of the vehicle. Moreover, use pin marking machines over automotive parts helps during the theft of the vehicle, as the embossed writing cannot be changed or tampered and thus adds to another potential factor to the growth of global pin marking machine.
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The application of pin marking machine in electronic is another driving factor to the growth of market owing to its extensive use in chips installed in laptops and mobile phone to mark the unique identification for each chip and gives brief information about the manufacturing series.
The air pressure in pneumatic pin marking machine allows deeper and smoother looks at a much faster speed which are required for airplane parts as well agriculture machinery as the metal get corrosive during its life cycle which later can be identified easily.
The machine can be used on various metals such as iron, brass, copper, as well as plastic are some factors that support the growth of the pin marking machine market. The application of pin making is also observed in logistic industries and construction equipment that gives the product permanent identity. The growth of laser marking in automotive and manufacturing industries possesses major threat to the pin marking machine market.
Global Pin Marking Machine Market: Region Wise Outlook
The global pin marking machine market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA).
North America is estimated to hold a significant high share in the global pin marking machine market. The significant share is accredited by the United States Department of Defense that has regulated the use of the visible mark on tangible items in aggregation with the unique item identification.
Followed by North America is Western Europe to hold a significant share in the global pin marking machine market owing to the presence of car manufacturing units which has an extensive application of pin marking machine. Developed regions of global pin marking machines such as North America and Western Europe are anticipated to grow at healthy CAGR during the forecast period.
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APEJ is expected to grow at a relatively high CAGR during the global pin marking machine forecast period. Rapid industrialization and increase in manufacturing units of automotive industry are estimated to drive the growth of APEJ region.
Global Pin Marking Machine Market: Prominent Players
Few of the prominent players in the Pin Marking Machine market are as follows
- Kwik Mark Inc.
- Mecco Partners LLC
- Gravotech Group
- SIC Marking, Inc.
- Telesis Technologies, Inc.
- Gravotech Engineering PVT Ltd
- Edward Pryor & Son Ltd
- Ostling Marking Systems (SEA) Pte. Ltd.
- Pannier Corporation
- Nichol Industries Pty Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Pin Marking Machine Market: Segmentation
Based on pin marking system: Global Pin Marking Machine market is segmented into
- Single pin marking
- Dual pin marking
- Multiple pin marking
Based on system: Global Pin Marking Machine market is segmented into
- Hand held system
- Bench-top system
- Integration system
- Combo system
Based on technology: Global Pin Marking Machine market is segmented into
Based on end-use: Global Pin Marking Machine market is segmented into
- Oil & gas
- Agriculture machinery
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