The pin marking machine market is expected to be worth US$ 618 million in 2022. The market for pin marking machines is expected to grow gradually, reaching US$ 987 million by 2032 at a CAGR of 4.8% through 2032.
Pin marking machines are pieces of equipment that employ the direct pin marking technique to permanently mark product parts with information such as part number, serial number, barcodes, batch number, and date codes, allowing the part to be tracked throughout the product’s life cycle. The pin marking machine stamps or engraves a short number of spaced dots to designate the brief of the product for the permanent term, enabling 100% dependable part traceability.
The pin marking machine works by permanently imprinting information on product parts to provide unique identification. Pin marking on various metal and plastic parts achieves rapid and high-performance dots that are visible throughout the product life cycle and make it easier to recognise the relevant information about the embossed part, giving pin marking machines market as a potential growth factor.
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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.
The pin marking machine market is expected to experience significant growth in the coming years. Here are some key takeaways:
- Market growth: The pin marking machine market is expected to reach US$ 987 million by 2032.
- Increasing demand: The increasing demand for pin marking machines across various industries, such as automotive, aerospace, and electronics, is a major driver of market growth.
- Versatility: Pin marking machines offer versatility and flexibility in marking various types of materials, including metal, plastic, and wood, which is driving their adoption across industries.
- Cost-effectiveness: Pin marking machines are relatively cost-effective compared to other marking technologies, such as laser marking, which is further driving their adoption.
- Integration with automation: The integration of pin marking machines with automation systems is a major trend in the market, as it enables high-speed and accurate marking.
- Competition: The pin marking machine market is highly competitive, with several key players operating in the market. Some of the major players include SIC Marking, Gravotech Marking, Telesis Technologies, and Technomark.
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.
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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By Pin Marking System:
- Single pin marking
- Dual pin marking
- Multiple pin marking
- Handheld system
- Bench-top system
- Integration system
- Combo system
- Oil & gas
- Agriculture machinery
- North America
- Latin America
- Asia Pacific