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Pick & Place Machines Market Size
- Report ID: GMI5952
- Published Date: Jun 2023
- Report Format: PDF
Pick & Place Machines Market Size
Pick & Place Machines Market size was valued at over USD 2.5 billion in 2022 and is anticipated to grow at a CAGR of over 7.5% between 2023 and 2032. The industry is characterized by continuous technological advancements. Manufacturers are constantly introducing new features and capabilities such as multi-functionality, higher speeds, improved accuracy, and flexibility. These technological advancements drive the adoption of pick & place machines as manufacturers seek to upgrade their production capabilities.
A pick & place machines is an automated mechanical device used in production processes to select parts or products from the source and put them in the right place, typically on Printed Circuit Board (PCB) or an assembly line. The machines are equipped with various mechanisms including robotic arms, suction cups, or mechanical grippers to handle & manipulate components of different shapes, sizes, and weights.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Pick & Place Machines Market Size in 2022: | USD 2.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.5% |
| 2032 Value Projection: | USD 5.5 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 193 |
| Segments covered: | Type, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The high initial investment in pick & place machines is hindering market growth. These machines require substantial investments including intervention and training, as well as the equipment cost. This high cost can act as a barrier for small & medium-sized companies, limiting their ability to adopt mounting solutions.
Frequently Asked Questions (FAQ) :
Pick & Place Machines Market Scope
