The surface mount technology (SMT) equipment market has grown from $5.33 billion in 2023 to $5.82 billion in 2024, achieving a CAGR of 9.2%. This growth is fueled by environmental regulations, an expanding semiconductor industry, and the demand for smart devices. Projections suggest the market will reach $8.32 billion by 2028, with a CAGR of 9.3%. Technological advancements and the rise of 3D printing are key trends shaping this sector.
Major Driver In The Surface Mount Technology SMT Equipment Market
The surface mount technology (SMT) equipment market is anticipated to grow in response to the increasing demand for electronic devices. Advances in semiconductor technology have made electronic devices more portable and efficient. SMT equipment is essential for the precise assembly of electronic components onto printed circuit boards (PCBs). In April 2024, the Japan Electronics and Information Technology Industries Association reported that total production of electronic components and devices in Japan reached ¥605,945 million ($3,760 million), a 113.3% increase from the previous year. This growing demand for electronic devices is expected to boost the SMT equipment market.
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Surface Mount Technology SMT Equipment Market Competitive Landscape
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
Key Surface Mount Technology SMT Equipment Market Trend
The surface mount technology (SMT) equipment market is seeing advancements as major companies develop intelligent process control machines to improve manufacturing precision, efficiency, and reliability. These sophisticated SMT machines integrate AI, machine learning, and advanced sensor technologies to optimize the placement and soldering of components onto printed circuit boards. In September 2023, Panasonic Holdings Corporation launched the NPM-G Series SMT machines in India, which boast high-speed placement capabilities and increased throughput. The NPM-G Series features advanced vision systems for accurate component placement and a modular design for easy scalability, allowing manufacturers to meet varying production demands effectively.
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Surface Mount Technology SMT Equipment Market Segmentation
The surface mount technology (SMT) equipment market covered in this report is segmented –
1) By Equipment: Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Repair Equipment, Rework Equipment
2) By Component: Passive Components, Active Components
3) By Service: Designing, Test And Prototyping, Supply Chain Services, Manufacturing, Aftermarket Services
4) By End-User : Telecommunication, Consumer electronics, Aerospace and defense, Automotive, Other End-Users
By Geography:The regions 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.
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 Surface Mount Technology SMT Equipment Global Market Report 2024 furnishes information about the global surface mount technology smt equipment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
