In 2022, the market for pin marking machines was poised to attain a valuation of US$ 618 million. Projections indicate that the demand for these machines will exhibit gradual expansion, ultimately reaching US$ 987 million by 2032, reflecting a steady Compound Annual Growth Rate (CAGR) of 4.8% over this period.
The increased demand for pin marking machines is attributed to their intrinsic capability to permanently imprint identifying information onto product components. Moreover, the precision and efficiency of pin marking, particularly on various metal and plastic parts, yield durable and highly visible markings that endure throughout a product’s lifecycle.
Companies operating within the pin marking machine market are proactively implementing strategies such as targeted marketing campaigns and Corporate Social Responsibility (CSR) initiatives to enhance their global visibility and presence. These efforts are indicative of their commitment to expanding their market reach on a global scale.
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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.
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: Prominent Players
- 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.
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Key segments:
By Pin Marking System:
- Single pin marking
- Dual pin marking
- Multiple pin marking
By System:
- Handheld system
- Bench-top system
- Integration system
- Combo system
By Technology:
- Pneumatic
- Electromagnetic
By End-Use:
- Automotive
- Electronics
- Aerospace
- Oil & gas
- Agriculture machinery
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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