What Has Been the Progress and Growth of the Surface Mount Technology (SMT) Equipment Market in Recent Years?
The surface mount technology (smt) equipment market has seen considerable growth due to a variety of factors.
• The surface mount technology (SMT) equipment market has experienced strong growth in recent years. It is expected to rise from $5.82 billion in 2024 to $6.38 billion in 2025, with a CAGR of 9.6%.
Growth drivers include stricter environmental regulations, the growth of smart home devices, the semiconductor industry, demand for high-performance computing, and the increasing demand for smart wearables.
How Does the Forecast Look for the Surface Mount Technology (SMT) Equipment Market?
The surface mount technology (smt) equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The surface mount technology (SMT) equipment market is expected to grow strongly, reaching $9.07 billion by 2029 at a CAGR of 9.2%.
Factors contributing to this growth include increased automotive electronics, rising mobile device adoption, higher production of medical devices, the growth of smart home devices, and rising investments in renewable energy. Trends include 3D printing, AI integration, IoT adoption, and advancements in 5G technology.
What Are The Leading Drivers Of Growth In The Surface Mount Technology (SMT) Equipment Market?
The growing need for electronic devices is predicted to boost the expansion of the surface mount technology (SMT) equipment market. Electrical energy powers electronic devices, which utilize electronic circuits to control currents and signals for a variety of uses and particular operations. The improvement in semiconductor technology has resulted in smaller, stronger, and more energy-efficient components, making electronic devices more compact and user-friendly. Surface mount technology (SMT) equipment aids the accurate and effective assembly of electronic elements onto PCBs, facilitating the creation of advance electronic products applicable to different sectors from consumer electronics to aerospace and healthcare. For example, in April 2024, the Japan Electronics and Information Technology Industries Association, a trade association based in Japan, stated that the total production of electronic components and devices in Japan amounted to ¥605,945 million ($3,760 million), reflecting a 113.3% growth from the previous year. Hence, the escalating demand for electronic devices propels the rise of the surface mount technology (SMT) equipment market.
How Are The Segments Defined Within The Global Surface Mount Technology (SMT) Equipment Market?
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
Subsegments:
1) By Placement Equipment: Automatic Placement Machines, Manual Placement Machines, Chip Shooters, Pick-And-Place Machines
2) By Inspection Equipment: Automated Optical Inspection (AOI) Systems, X-Ray Inspection Systems (AXI), 3D Solder Paste Inspection (SPI), Manual Inspection Tools
3) By Soldering Equipment: Wave Soldering Machines, Reflow Soldering Ovens, Selective Soldering Systems, Hand Soldering Stations
4) By Screen Printing Equipment: Stencil Printers, Semi-Automatic Screen Printers, Fully Automatic Screen Printers
5) By Cleaning Equipment: Ultrasonic Cleaning Systems, Inline Cleaning Systems, Batch Cleaning Systems
6) By Repair Equipment: Laser Rework Stations, Soldering Iron And Hot Air Rework Stations, Desoldering Tools
7) By Rework Equipment: PCB Repair Stations, BGA Rework Stations, SMD Rework Tools And Systems
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How Are New Trends Impacting The Size Of The Surface Mount Technology (SMT) Equipment Market?
Key players in the surface mount technology (SMT) equipment market are innovating by designing intelligent advanced process control (APC) SMT machines. These machines offer improved precision, efficiency, and reliability in manufacturing processes. Intelligent APC SMT machines, which are designed to produce electronic circuits, use a combination of artificial intelligence, machine learning, and cutting-edge sensor technology to improve the placement and soldering of components on printed circuit boards (PCBs). As an example, Panasonic Holdings Corporation, a tech corporation based in Japan, rolled out its new NPM-G Series SMT machines in India in September 2023. These machines stand out due to their high-speed placement capabilities, significantly boosting throughput and productivity. The NPM-G Series boasts state-of-the-art vision systems for precise component placement, reducing errors and improving overall product quality. The machines' modular design enables easy scalability and customization, meeting various production needs. Furthermore, the machines can be integrated with smart factory systems for real-time monitoring and data analytics, providing manufacturers with crucial insights to optimize their processes.
Who Are the Key Players In The Surface Mount Technology (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
What Is The Most Dominant Region In The Surface Mount Technology (SMT) Equipment Market?
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.
