Surface Mount Technology Equipment’s Market Size and Growth Rate:
According to our research report, the Surface Mount Technology Equipment Market Size is expected to be valued USD 5.46 Billion by 2025. Growing at a CAGR of 8.7% between 2018 and 2025.
The method of manufacturing electronic circuits is known as surface mounting technology. With surface mount technology, Surface mount technology is a specific technique through which electronic circuit is produced. Using this technology, components of electronic circuits are placed directly onto the surface of printed circuit boards (PCBs). In today’s time, all mass-produced electronics hardware is factory-made by using surface mount technology.
Surface Mount Technology Equipment’s Market Drivers and Restraints:
Some of the chief factors which are boosting the growth of global Surface Mount Technology market are the growing electronics industry, increasing use of flexible materials printed circuit boards, increasing mass production of electronics hardware devices and rising miniaturization trend & the incessant need for mounting electrical & mechanical components. Surface mount technology equipment simplifies the widespread solution for different end use industry which include automotive, consumer electronics, aerospace and defense, healthcare and industrial among others.
One of the major factors heartening the demand and high-speed installation of surface mount technology equipment market is its operational effectiveness owing to cost effective processing. Mounting usage of flex circuit in wearable electronics across various sector especially in the smart phone and smart card industry is the primary factor projected to foster the demand and innovation of surface mount technology market during the forecast period from 2018 to 2026.
On the other hand, factors which are restrictive towards the growth of global surface mount technology market are high cost of system, and it is also highly unsuitable for high power or high voltage parts such as power circuitry.
Healthcare is the leading sector in triggering the growth prospect of surface mount technology equipment market globally. Diffusion of electronics and automated products in healthcare industry is expected to further drive the opportunity for surface mount technology equipment market in this segment.
Surface Mount Technology Equipment’s Market Segmentation:
The market for surface mount technology is segmented according to teams, applications and regions. According to the team, the global market is divided into inspection equipment, welding equipment, cleaning equipment, and placement equipment, screen printing equipment and repair and retouching equipment. Based on the applications, the market is classified in the fields of consumer electronics, aerospace and defines, medicine, energy, telecommunications, automotive and industry. Geographically, the world market is diversified in North America, Asia-Pacific, Europe and the rest of the world.
Surface Mount Technology Equipment’s Market Geographical Analysis:
Asia Pacific held the largest share of the overall surface mount technology market, and this market is likely to grow at the highest rate during the forecast period. The growing demand for mobile phones, LED and CFL lighting, LCD/LED television sets, and other consumer electronics products drives the SMT market in APAC. Moreover, the growing trend of miniaturization, higher production speed, and continuous overview of new products further drives the need for SMT in this region.
Latin America region is anticipated to be second fastest growing market, following the Asia Pacific region. Western Europe market is also affected harshly due to volatile economic conditions.
Surface Mount Technology Equipments Market key Players:
- Mycronic AB (Sweden)
- Nordson Corporation (The U.S)
- Viscom AG (Germany)
- ASML Holding, N.V. (Netherlands)
- KLA-Tencor Corporation (The U.S)
- Juki Corporation (Japan)
- Fuji Machine Mfg. Co., Ltd. (Japan)
- Panasonic Corporation (Japan)
- Hitachi, Ltd. (Japan)
- Orbotech Ltd. (Israel)
This research report includes following segmentation for the Surface Mount Technology Equipment’s Market size and forecast until 2025:
Surface Mount Technology Equipment’s Market – By Product:
- Placement Equipment
- Inspection Equipment
- Soldering Equipment
- Cleaning Equipment
Surface Mount Technology Equipment’s Market – By Application/End User:
- Aerospace and Defense
- Consumer Electronics
Surface Mount Technology Equipments Market – Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa