North America SMT Equipment Market Forecast to 2031 - Regional Analysis - by Component, Equipment Type, and End User

List of Tables

The North America SMT equipment market was valued at US$ 1,671.57 million in 2023 and is expected to reach US$ 2,699.35 million by 2031; it is estimated to register a CAGR of 6.2% from 2023 to 2031.

Growing Consumer Electronics Industry Fuels North America SMT Equipment Market

Surface mount technology (SMT) has revolutionized electronic assembly, enabling the development of compact designs with higher assembly density, improved performance, and reduced costs. SMT's automated assembly processes reduce labor costs and increase production efficiency. The smaller form factor reduces material costs, making consumer electronics such as televisions and gaming consoles more affordable and accessible. Further, consumers globally are increasingly seeking more powerful and feature-laden devices. Consumer electronics such as smartphones, laptops, tablets, cameras, wearables, and home automation are adopted globally. Smartphones have become an integral part of the lifestyle. With the rising adoption of smartphones, there is a rise in smartphone penetration across the globe. According to the GSMA report, by the end of 2021, smartphones accounted for 83% of mobile connections in North America, with 30 million new smartphone connections expected by 2025. Smart electronic devices have also gained popularity. Thus, the growing consumer electronics industry drives the North America SMT equipment market.

North America SMT Equipment Market Overview

The North America SMT equipment market has been segmented into the three major country: the US, Canada, and Mexico. North America is the second-largest contributor to the SMT equipment market. The rapid expansion of the electronics business has increased the global demand for SMT equipment. This is being driven by rising demand for 3G and 4G telecom networks, consumer electronics, LED and CFL lighting, LCD/LED monitors and televisions, and other products in the computers, communications, and consumer electronics industries. The Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, passed in August 2022, authorized subsidies and tax advantages to encourage the development of sophisticated semiconductors in the US. This was followed by broad limitations on the export of chip manufacturing technology to China. The CHIPS and Science Act incentivizes Taiwanese, Korean, and American companies to establish factories in the US. As a result, in April 2024, the US Department of Commerce and TSMC Arizona signed a non-binding preliminary memorandum of terms (PMT) for up to US$ 6.6 billion in direct funding under the CHIPS and Science Act. TSMC also announced plans to build a third fab at TSMC Arizona to meet strong customer demand, leveraging the most advanced semiconductor process technology in the US.

North America SMT Equipment Market Revenue and Forecast to 2031 (US$ Million)

North America SMT Equipment Market Segmentation

The North America SMT equipment market is categorized into component, equipment type, end user, and country.

Based on component, the North America SMT equipment market is bifurcated into passive component and active component. The active component segment held a larger market share in 2023.

In terms of equipment type, the North America SMT equipment market is categorized into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held the largest market share in 2023.

By end user, the North America SMT equipment market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held the largest market share in 2023.

By country, the North America SMT equipment market is segmented into the US, Canada, and Mexico. The US dominated the North America SMT equipment market share in 2023.

ASMPT Ltd, FUJI CORPORATION, Hitachi High-Tech Corp, JUKI CORPORATION, KLA Corp, Mycronic, Nordson Corp, SAKI CORPORATION, Viscom AG, and Yamaha Motor Co Ltd are some of the leading companies operating in the North America SMT equipment market.

Product Code: BMIRE00031022

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America SMT Equipment Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
- 4.3.1 List of Vendors in the Value Chain

5. North America SMT Equipment Market - Key Market Dynamics

5.1 SMT Equipment Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growing Consumer Electronics Industry
- 5.2.2 Increasing Miniaturization of Electronic Products
5.3 Market Restraints
- 5.3.1 High Initial Investments
5.4 Market Opportunities
- 5.4.1 Increasing Need for Environment-Friendly Electronic Components
- 5.4.2 Growing Industrial Automation
5.5 Future Trends
- 5.5.1 Evolution of 3D Packaging and Through Silicon Via (TSV) Technologies
5.6 Impact of Drivers and Restraints:

6. SMT Equipment Market -North America Analysis

6.1 North America SMT Equipment Market
6.2 SMT Equipment Market Revenue (US$ Million), 2021-2031
6.3 SMT Equipment Market Forecast Analysis

7. North America SMT Equipment Market Analysis - by Component

7.1 Passive Component
- 7.1.1 Overview
- 7.1.2 Passive Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Active Component
- 7.2.1 Overview
- 7.2.2 Active Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)

8. North America SMT Equipment Market Analysis - by Equipment Type

8.1 Inspection Equipment
- 8.1.1 Overview
- 8.1.2 Inspection Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Placement Equipment
- 8.2.1 Overview
- 8.2.2 Placement Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Soldering Equipment
- 8.3.1 Overview
- 8.3.2 Soldering Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Screen Printing Equipment
- 8.4.1 Overview
- 8.4.2 Screen Printing Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Cleaning Equipment
- 8.5.1 Overview
- 8.5.2 Cleaning Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)

9. North America SMT Equipment Market Analysis - by End User

9.1 Consumer Electronics
- 9.1.1 Overview
- 9.1.2 Consumer Electronics: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Telecommunication
- 9.2.1 Overview
- 9.2.2 Telecommunication: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Aerospace and Defense
- 9.3.1 Overview
- 9.3.2 Aerospace and Defense: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Automotive
- 9.4.1 Overview
- 9.4.2 Automotive: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Industrial
- 9.5.1 Overview
- 9.5.2 Industrial: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)

10. North America SMT Equipment Market -Country Analysis

10.1 North America SMT Equipment Market Overview
- 10.1.1 North America SMT Equipment Market, by Key Countries- Revenue (2023) (US$ Million)
- 10.1.2 North America: SMT Equipment Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.1 North America: SMT Equipment Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.2 United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.2.1 United States: SMT Equipment Market Breakdown, by Component
    - 10.1.2.2.2 United States: SMT Equipment Market Breakdown, by Equipment Type
    - 10.1.2.2.3 United States: SMT Equipment Market Breakdown, by End User
  - 10.1.2.3 Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.3.1 Canada: SMT Equipment Market Breakdown, by Component
    - 10.1.2.3.2 Canada: SMT Equipment Market Breakdown, by Equipment Type
    - 10.1.2.3.3 Canada: SMT Equipment Market Breakdown, by End User
  - 10.1.2.4 Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.4.1 Mexico: SMT Equipment Market Breakdown, by Component
    - 10.1.2.4.2 Mexico: SMT Equipment Market Breakdown, by Equipment Type
    - 10.1.2.4.3 Mexico: SMT Equipment Market Breakdown, by End User

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development

13. Company Profiles

13.1 Hitachi High-Tech Corp
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 ASMPT Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Yamaha Motor Co., Ltd.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Nordson Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 KLA Corp
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Viscom AG
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 FUJI CORPORATION
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 SAKI CORPORATION
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Mycronic
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 JUKI CORPORATION
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 Glossary
14.2 About The Insight Partners