Surface Mount Technology Equipment Market Forecasts to 2030 - Global Analysis By Type, Component, Automation, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Surface Mount Technology (SMT) Equipment Market is accounted for $5.83 billion in 2023 and is expected to reach $14.15 billion by 2030 growing at a CAGR of 13.5% during the forecast period. Surface Mount Technology (SMT) Equipment refers to machines used in the assembly of electronic circuits on printed circuit boards (PCBs). These machines handle components in a miniaturized form, allowing for precise placement directly onto the PCB's surface. SMT equipment enhances production efficiency, reduces manufacturing costs, and enables the creation of compact, high-performance electronic devices.

Market Dynamics:

Driver:

Globalization of electronics manufacturing

Emerging markets are experiencing a surge in demand for SMT equipment as production facilities grow worldwide. The necessity for effective, quick assembly procedures to suit the expanding needs of multiple industries is driving this development. Precision, miniaturization, and high-volume production are made possible by SMT technology, which helps businesses meet the demands of globalised supply chains. As a result, the globalisation of electronics production serves as a major catalyst for the uptake and development of SMT equipment globally.

Restraint:

Technological complexity and skills gap

The intricate nature of SMT equipment demands specialized expertise for operation and maintenance, creating a shortage of skilled professionals. This scarcity limits the widespread adoption of SMT technology, particularly in regions lacking robust training programs or educational resources. Additionally, the rapid evolution of SMT technology requires continuous skill development, exacerbating the skills gap. Consequently, the industry faces challenges in effectively deploying and maximizing the potential of SMT equipment, hindering market growth and innovation.

Opportunity:

Increasing adoption of IoT and wearable devices

The consumer demand for surface mount technology (SMT) equipment is driven by the growing use of wearables and the Internet of Things, which calls for more sophisticated assembly capabilities. SMT methods enable the smaller form factors, higher component density, and enhanced functionality required by these devices. As wearables and the Internet of Things grow more and more ingrained in daily life, manufacturers need SMT equipment that can precisely handle small, complicated components and complex designs. This promotes innovation in SMT technology and the creation of increasingly complex machinery to satisfy these industries' changing needs. As a result, the market for SMT equipment is growing as a result of the widespread use of wearable technology and IoT.

Threat:

High initial investment costs

SMT equipment incurs high initial investment costs due to the sophisticated technology involved, including precision machinery, robotics, and automation systems. Additionally, these machines require specialized training and expertise to operate effectively, adding to the overall investment. High upfront costs act as a barrier for small and medium-sized enterprises (SMEs) looking to enter the market or expand their production capabilities. This hampers market growth by limiting the accessibility of advanced SMT equipment, thereby restricting overall market expansion and innovation.

Covid-19 Impact

The covid-19 pandemic significantly impacted the surface mount technology (SMT) Equipment market. Supply chain disruptions, production halts, and reduced demand for electronics resulted in a downturn. However, as industries adapted to remote work and consumer demand for electronics increased, there was a gradual recovery. Additionally, the pandemic accelerated trends like automation and digitalization, driving demand for SMT equipment for manufacturing various electronic components. Overall, while the initial impact was negative, the market showed resilience and adapted to the changing landscape.

The printed circuit board (PCB) assembly segment is expected to be the largest during the forecast period

The printed circuit board (PCB) assembly segment is estimated to have a lucrative growth. SMT machines facilitate the automated placement of electronic components directly onto the surface of PCBs, streamlining the assembly process. They include pick and place machines for accurate component positioning, solder paste printers for precise solder application, and inspection systems for quality control. This technology enables efficient, high-volume production of electronic devices, ensuring reliability and performance in various industries.

The consumer electronics segment is expected to have the highest CAGR during the forecast period

The consumer electronics segment is anticipated to witness the highest CAGR growth during the forecast period. SMT equipment revolutionizes consumer electronics manufacturing by offering compact, efficient, and high-speed assembly solutions. This technology facilitates mass production of electronic devices such as smartphones, tablets, laptops, and wearables, meeting consumer demands for sleek designs and advanced functionalities. SMT equipment streamlines production processes, reduces material waste, and ensures precise component placement, resulting in cost-effective manufacturing and superior product quality in the consumer electronics industry.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. The Asia Pacific region is a key hub for the surface mount technology (SMT) equipment market, driven by the presence of major electronics manufacturing centers in countries like China, Japan, South Korea, and Taiwan. The region benefits from the rapid industrialization, growing consumer electronics market, and increasing investments in advanced manufacturing technologies. Additionally, favourable government initiatives and incentives aimed at promoting innovation and industry growth further propel the SMT Equipment market in the Asia Pacific region.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to its advanced technology adoption and stringent quality standards. The region hosts prominent electronics manufacturers in countries such as Germany, the United Kingdom, France, and Italy. The market benefits from strong R&D investments, fostering innovation in SMT equipment to meet evolving industry demands. Additionally, increasing focus on sustainability and energy efficiency drives the adoption of eco-friendly manufacturing practices. Regulatory support for advanced manufacturing and technological integration further boosts the growth of the SMT Equipment market in Europe, positioning it as a significant player globally.

Key players in the market

Some of the key players profiled in the Surface Mount Technology (SMT) Equipment Market include Siemens Electronics, Fuji Machine Manufacturing Limited, Panasonic Corporation, Mycronic AB, Juki Corporation, Yamaha Motors Limited, Hanwha Corporation, Nordson Corporation, KLA Corporation, Viscom AG, Universal Instruments Corporation, Europlacer, SMTmax, Neoden Technology and CyberOptics Corporation.

Key Developments:

In October 2023, SMTmax, a renowned leader in Surface Mount Technology (SMT) equipment services, announced all-encompassing repair and servicing offerings for Feeder, Head, and NXT Machines. As the industry's preferred choice, SMTXTRA sets the bar for excellence in repair services.

In September 2023, Panasonic Corporation launched the new surface mount technology (SMT) machines, NPM-GH and NPM-GP, for Indian manufacturers. The NPM-GH is a modular mounter that ensures the production of non-defective items by independently controlling autonomous mounting lines and floors.

Types Covered:

• Placement Machines
• Soldering Equipment
• Inspection Equipment
• Printing Equipment
• Cleaning Equipment
• Rework & Repair Equipment
• Other Types

Components Covered:

• Passive Components
• Active Components
• Electromechanical Components
• Other Components

Automations Covered:

• Manual
• Semi-Automatic
• Fully Automatic

Technologies Covered:

• 2D Inspection Equipment
• 3D Inspection Equipment
• X-Ray Inspection Equipment
• Optical Inspection Equipment
• Other Technologies

Applications Covered:

• Printed Circuit Board (PCB) Assembly
• Electronics Manufacturing Services (EMS)
• Original Equipment Manufacturers (OEMs)
• Other Applications

End Users Covered:

• Consumer Electronics
• Automotive
• Aerospace & Defense
• Healthcare
• Industrial
• Telecommunications
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances