Surface Mount Technology (SMT) Equipment Market to grow by USD 2.54 billion growth from 2023 - 2028; Miniaturization of components to boosts the market growth- Technavio

NEW YORK, Nov. 16, 2023 /PRNewswire/ -- The surface mount technology (SMT) equipment market by end-user (telecommunication, consumer electronics, aerospace and defense, automotive, and others), type (placement equipment, inspection equipment, soldering equipment, screen printing equipment, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America) - Forecast and Analysis 2024-2028 report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the surface mount technology (SMT) equipment market between 2024 and 2028 is USD 2.54 billion. 

Miniaturization of components drives the market growth.  The players in the electronics industry are increasingly emphasizing on minimizing end-product dimensions using smaller passive components with size factors approaching 0.5 mm. Hence, such factors drive the market growth. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge -

• The high cost of deployment hinders the market growth. The automated SMT industry is evolving and includes the use of sensors and advanced technologies. As a result, they are high-priced and require a large initial one-time investment. Hence, such a high cost of equipment hinders the market growth during the forecast period.

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The surface mount technology (SMT) equipment market is segmented by end-user (telecommunication, consumer electronics, aerospace and defense, automotive, and others), type (placement equipment, inspection equipment, soldering equipment, screen printing equipment, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

• The market share growth of the telecommunication segment is significant during the forecast period. The growth in the telecom industry is fuelling the demand for advanced technologies, including SMT equipment, in the placement process by involving the manufacturing of several networking and telecom products. In addition, factors including the demand for increased miniaturization and quicker time-to-market (TTM) are fuelling the demand for this segment which in turn drives the market growth.
• APAC accounts for 41% of the market growth during the forecast period. Several countries including  China, South Korea, Japan, India, and Taiwan fuel the market growth in APAC due to their strong industrial presence and established semiconductor fabrication units. Hence, such factors drive the market growth in APAC.

.View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Surface Mount Technology (SMT) equipment market:

Amistar Automation Inc., Autotronik SMT GmbH, Beijing Torch Co. Ltd., DDM Novastar Inc., Europlacer Ltd., FRITSCH GmBH, FUJI Corp., Hanwha Corp., Juki Corp., Kulicke and Soffa Industries Inc., Mirae Corp., Mycronic AB, Nordson Corp., Panasonic Holdings Corp., SMTnet, SumiLax SMT Technologies Pvt Ltd, Universal Instruments Corp., Versatec LLC, Yamaha Motor Co. Ltd., and ASMPT Ltd.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio