PUBLISHER: The Business Research Company | PRODUCT CODE: 1546598
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546598
Surface mount technology (SMT) is a method used to manufacture electronic circuits by directly mounting components onto printed circuit boards (PCBs). SMT equipment comprises various machines and tools essential for the assembly and production processes of these circuits. Its primary objective is to automate component placement onto PCBs, ensuring precise, efficient, and reliable manufacturing.
Key equipment in surface mount technology (SMT) includes placement equipment, inspection equipment, soldering equipment, screen printing equipment, cleaning equipment, repair equipment, and rework equipment. Placement equipment facilitates the automated and accurate positioning of components on PCBs during manufacturing. These specialized machines streamline the assembly process, ensuring speed and efficiency. Components handled by SMT equipment include both passive and active components. Services offered encompass designing, testing, prototyping, supply chain management, manufacturing, and aftermarket support. End-users of SMT equipment span various industries such as telecommunications, consumer electronics, aerospace and defense, automotive, and others.
The surface mount technology equipment market research report is one of a series of new reports from The Business Research Company that provides surface mount technology equipment market statistics, including surface mount technology equipment industry global market size, regional shares, competitors with surface mount technology equipment market share, detailed surface mount technology equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the surface mount technology equipment industry. This surface mount technology equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The surface mount technology (SMT) equipment market size has grown strongly in recent years. It will grow from $5.33 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to several factors including increased environmental regulations, the expansion of smart home devices, growth in the semiconductor industry, rising demand for high-performance computing, and increased interest in smart wearables.
The surface mount technology (SMT) equipment market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to an increase in automotive electronics, rising adoption of mobile devices, expanding production of medical devices, growth in smart home devices, and increased investment in renewable energy. Major trends anticipated in this period include technological advancements, the rise of 3D printing, integration of AI (Artificial Intelligence), adoption of IoT (Internet of Things), and advancements in 5G technology.
The surface mount technology (SMT) equipment market is poised for growth due to increasing demand for electronic devices. Electronic devices utilize electrical energy and rely on electronic circuits to manage currents and signals for diverse applications. Advances in semiconductor technology have led to the creation of smaller, more powerful, and energy-efficient components, enhancing the portability and convenience of electronic devices. SMT equipment plays a crucial role in efficiently and precisely assembling electronic components onto PCBs, supporting the production of sophisticated devices across industries such as consumer electronics, aerospace, and healthcare. For example, in April 2024, Japan Electronics and Information Technology Industries Association reported a significant increase in Japan's electronic components and devices production, underscoring the upward trajectory of electronic device demand driving the SMT equipment market growth.
Leading companies in the SMT equipment market are innovating with intelligent, advanced process control (APC) SMT machines to improve manufacturing precision, efficiency, and reliability. These sophisticated machines integrate artificial intelligence, machine learning, and advanced sensor technologies to optimize component placement and soldering on PCBs. For instance, Panasonic Holdings Corporation launched its NPM-G Series SMT machines in India in September 2023. These machines excel in high-speed placement and significantly enhance throughput and productivity. Featuring advanced vision systems, the NPM-G Series ensures precise component placement, reducing errors and elevating overall product quality. Their modular design allows for easy scalability and customization to meet diverse production needs, while integration with smart factory systems provides real-time monitoring and data analytics for operational optimization.
In November 2021, Nano Dimension Ltd., a US-based 3D printing company, acquired Essemtec AG, a Swiss company specializing in SMT equipment, to bolster its capabilities in automated electronics assembly. This acquisition strengthens Nano Dimension's ability to offer comprehensive PCB prototyping and production solutions, further enhancing its position in the evolving SMT equipment market.
Major companies operating in the surface mount technology (SMT) equipment market are Panasonic Corporation, Fuji Corporation, KLA Corporation, Omron Corporation, MKS Instruments, Teradyne Inc., Nordson Corporation, Nordson Corporation, Kulicke and Soffa Industries Inc., Mycronic AB, Koh Young Technology Inc., Universal Instruments Corporation, Heller Industries Inc., Keystone Electronics, Naprotek LLC, Hitachi High-Tech India Private Limited, CyberOptics Corporation, Electronic Manufacturing Services Group Inc., SMTnet, SAKI CORPORATION, Yamaha Motor Co. Ltd
Asia-Pacific was the largest region in the surface mount technology (SMT) equipment market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the surface mount technology (SMT) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surface mount technology (SMT) equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The surface mount technology (SMT) equipment market consists of the sale of manual pick-and-place machines, semi-automatic pick-and-place machines, and automated pick-and-place advanced machines that enable higher speed, accuracy, and throughput for high-volume manufacturing. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surface Mount Technology (SMT) Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surface mount technology (SMT) equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surface mount technology (SMT) equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surface mount technology (SMT) equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.