Molded Interconnect Devices Market Growth Predicted at 13% Through 2027: GMI
Major molded interconnect devices market players include HARTING Technology Group, Teprosa AG, TE Connectivity, Avient Corporation, RTP Company, SelectConnect Technologies, LPKF Laser & Electronics AG, Molex.
SELBYVILLE, Del. - July 13, 2021 - (Newswire.com)
According to the latest report "Molded Interconnect Devices (MID) Market by Process (Laser Direct Structuring (LDS), Two-Shot Molding), Application (Automotive, Consumer Products, Healthcare, Industrial, Military & Aerospace, Telecommunication & Computing), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of molded interconnect devices will cross $1 billion by 2027.
The market growth is attributed to the increasing adoption of MID technology across telecommunication base station equipment. Various base station equipment, such as antenna systems, routers, modules, security shields, terminals, and telecom boxes, are designed using MID process technology. This technology combines mechanical and electric functions into a single product and improves the reliability and efficiency of telecommunication systems. The extensive penetration of 5G base stations across developed economies, such as China, the U.S., Germany, and France, will further support the market expansion.
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The other segment held 8% of the molded interconnect devices market share in 2020 and is projected to grow at around 10% growth rate by 2027, owing to the low-cost features offered by the film injection molding and hot stamping processes compared to LDS and two-shot molding processes. The hot stamping and film injection molding are among the commonly deployed approaches for the formulation of MIDs due to their adhesive conduction properties. In hot stamping, a specialized metal foil is placed into a heated die and the circuit layout is then transferred to a molded part. This process requires low tooling costs, which is expected to support its acceptance in the fabrication of low-cost systems. Adding to this, the market players are focusing on developing and innovating newer raw materials injection molding processes adding new opportunities to the market.
The industrial segment in the molded interconnect devices market accounted for 9% of the revenue share in 2020 and is estimated to attain a CAGR of 12% through 2027, led by the increasing uptake of industrial robots across the globe. The industrial robots are integrated with various sensors, PCBs, and hardware systems, which are fabricated over MID technology. MIDs enable the reduction of the number of components in the final products, thereby creating more space for the integration of advanced sensors and systems in industrial robots.
Europe's molded interconnect devices market is poised to expand at over a 13% CAGR during 2021 to 2027, impelled by the presence of major automotive OEMs in the region, such as Daimler, DAF Trucks, Fiat, BMW Group, etc., which are focusing on advanced automotive systems and vehicle electrification across the region. According to International Energy Agency, in 2020, Europe registered over 1.4 million new electric cars with Germany and France accounting for over 395,000 and 185,000 units of registered electric vehicles (EVs), respectively. Also, the EV sales in Norway witnessed around a 75% increase in 2020 compared to the previous year. The increasing usage of electric vehicles in the region will further add new growth opportunities to the European MID vendors.
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Some of the major players operating in the market are HARTING Technology Group, Teprosa AG, TE Connectivity, Avient Corporation, RTP Company, SelectConnect Technologies, LPKF Laser & Electronics AG, Molex, among others. The companies are continuously involved in new strategies such as collaboration and partnership activities to accelerate their product offerings and cater to the high demand in the market.
Some major findings of the Molded Interconnect Devices (MID) Market report include:
- Proliferation of electric vehicles across the globe will spur the MID market progression during the forecast period. According to the Global EV Outlook 2021 report, there were more than 10 million electric cars registered as of December 2020. These EVs are extensively incorporating body electronics, in-vehicle infotainment systems, instrument clusters, and advanced safety systems, which will add growth opportunities to market participants.
- The two-shot molding process in MID helps to improve part integrity, multi-material efficiency and offers cost-effectiveness in the production facilities. The increasing adoption of two-shot molding for the high volume production of complex, multi-material plastics, and multi-color products across the consumer electronics sector will support the segment growth.
- High miniaturization, 3D-prototyping, shorter assembly time, and design freedom offered by the laser direct structuring (LDS) process are predicted to foster the market value over the forecast period
- Increasing demand for miniaturized and compact features in various electronic devices, such as wearable electronics, fit bits, tablets, smartphones, and smartwatches, has positively influenced the MID market demand.
- The COVID-19 pandemic severely impacted the industry growth in the mid-2020. Several regulatory bodies across the globe-imposed lockdown measures, which resulted in the shutdown of various production facilities across automotive, consumer electronics, and industrial manufacturing sectors. Adding to this, several manufacturers have shifted their existing production facilities to new regions due to international trade restrictions, supply-chain disruption, and shortage of raw materials and components. This is set to hinder the industry expansion during the pandemic.
Table of Contents (ToC) of the report:
Chapter 3 Molded Interconnect Devices (MID) Market Insights
3.1 Industry segmentation
3.2 Impact analysis of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Impact by region
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Raw material analysis
3.6 LDS plating material analysis
3.6.1 Electroless copper
3.6.2 Electroless Nickel
3.6.3 Immersion Gold
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.2 Industry pitfalls and challenges
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Browse the Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/molded-interconnect-devices-MID-market
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Original Source: Molded Interconnect Devices Market Revenue to Cross USD 1 Bn by 2027: Global Market Insights Inc.
