Surface Mount Technology (SMT) Equipment Market Worth $10.19 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners

PR Newswire · 10/16 14:31

The Surface Mount Technology (SMT) Equipment market size is expected to reach US$ 10.19 billion by 2031 from US$ 6.38 billion in 2023 to record a CAGR of 6.0% from 2023 to 2031.

NEW YORK, Oct. 16, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the rapid expansion of the electronics business has increased the global demand for Surface Mount Technology (SMT) Equipment. In addition, Surface Mount Technology (SMT) Equipment offers maximum flexibility in building printed circuit boards, such as increased automation, improved reliability and performance, reduced manual intervention for component placement, and nearly total elimination of hole drilling operations, which is rising its demand in the global market. Furthermore, Surface Mount Technology (SMT) Equipment provides several benefits, including reduced component sizes, higher component density, and increased manufacturing efficiency, driving the growth of the Surface Mount Technology (SMT) Equipment Market in the forecasted period.

The_Insight_Partners_Logo

Browse Detailed Insights: https://www.theinsightpartners.com/reports/smt-equipment-market

Global Surface Mount Technology (SMT) Equipment Market experiences significant growth due to growing consumer electronics industry.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Surface Mount Technology (SMT) Equipment Market comprises of equipment type, component, and end-user which are expected to register strength during the coming years.

Download Sample Report: https://www.theinsightpartners.com/sample/TIPRE00018394/

Overview of Report Findings:

  1. Market Growth: The Global Surface Mount Technology (SMT) Equipment Market Size is expected to reach US$ 10.19 billion by 2031 from US$ 6.38 billion in 2023, at a CAGR of 6.0% during the forecast period.
  2. Miniaturization of Electronic Products: Component manufacturers are constantly pushing the limits of package sizes, introducing even smaller and more compact designs. Chip-scale packages (CSPs), wafer-level packaging (WLP), and emerging panel-level packaging technologies are enabling unprecedented levels of miniaturization, allowing for higher component densities and more advanced product designs. Further, smartphones, tablets, laptops, televisions, and wearable devices rely heavily on Surface Mount Technology (SMT) Equipment to achieve miniaturization, high component density, and advanced functionality.
  3. Demand for Environment-Friendly Electronic Components: One of the most significant environmental initiatives in SMT assembly is the transition to lead-free soldering.
  4. SMT assembly processes, particularly reflow soldering, can be energy-intensive. However, advancements in equipment design and process optimization have led to more energy-efficient SMT assembly lines. Modern reflow ovens and other machinery are designed to minimize energy consumption while maintaining precise process control, reducing the overall environmental footprint of SMT manufacturing.
  5. 3D Packaging and Through Silicon Via (TSV) Technologies: Future electronic device development is expected to be strongly influenced by through-silicon-via technology, a type of vertical interconnect access (VIA) connection used in IC packaging to provide vertical electrical connections between silicon wafers or dies. TSV technology establishes electrical contact with surface-mounted devices while mirrored sidewalls enhance package reflectivity and improve light efficiency.
  6. Geographical Insights: APAC dominated the Surface Mount Technology (SMT) Equipment Market Share in 2023. North America is the second largest contributor to the global Surface Mount Technology (SMT) Equipment Market, followed by Europe, Middle East and Africa, and South America.

Identify The Key Trends Affecting This Market - Download Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00018394/

Market Segmentation:

  • Based on component, the market is divided into passive component and active component. The active component segment held the largest Surface Mount Technology (SMT) Equipment market share in 2023. An LED is a type of diode that produces light when a current passes through it. SMT LEDs are used in a wide variety of applications, including indicator lights and display panels. Similarly, a few types of SMT transistors are used in low-noise and high-input impedance applications, and others are used in high-speed switching and power management applications.
  • Based on equipment type, the market is divided into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held the largest Surface Mount Technology (SMT) Equipment market share in 2023. Placement equipment is also known as SMT pick-and-place machines or SMT component placement systems, which are used for placing surface mount devices (SMDs) onto printed circuit boards (PCBs). They are employed in the high-speed, high-precision placement of a wide variety of electronic components, such as integrated circuits, capacitors, and resistors, onto PCBs.
  • Based on end user, the market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held the largest share in the Surface Mount Technology (SMT) Equipment market in 2023. Consumer electronics such as mobile phones, Bluetooth speakers, Bluetooth headsets, sports bracelets, and small household appliances require SMT machines. These machines help boost the assembly process and enable the production of compact, efficient, and feature-rich electronic products.

Purchase Premium Copy of Global Surface Mount Technology (SMT) Equipment Market Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPRE00018394/

Competitive Strategy and Development:

  • Hitachi High-Tech Corp, Juki Corporation, ASMPT Ltd, Yamaha Motor Co Ltd, Nordson Corp, KLA Corp, Viscom AG, Fuji Corporation, Saki Corporation, and Mycronic.
  • Trending Topics: Soldering Stations and Accessories Market, Soldering in Electronics Assembly Market, and Others.

Global Headlines on Surface Mount Technology (SMT) Equipment Market:

  • "Hitachi High-Tech Corporation ("Hitachi High-Tech") announced the launch of the LS9300AD, a new system for inspecting the front and backside of non-patterned wafer surfaces for particles and defects. With the introduction of LS9300AD, Hitachi High-Tech enables reduced inspection costs and improved yield for semiconductor wafers and semiconductor device manufacturers by providing high-sensitivity and high-throughput detection of low-aspect microscopic defects."
  • "Yamaha Motor Co., Ltd. announced the new YRM10, a surface mounter that is the world's fastest in 1-Beam/1-Head class mounting performance of 52,000 CPH. This new addition is a next-generation, compact, high-speed modular with space-saving qualities and provides a combination of component compatibility and versatility"
  • "Saki Corporation announced the opening of its new Mexican office in Zapopan, Jalisco. It is situated in the manufacturing hub of the Guadalajara Metropolitan Area. The new office is the home for Saki's subsidiary, Saki America de México S.A. de C.V., with direct links for customers across the North and South American continents, Saki's modern facility offers an important location for service, sales, and demonstrating of its world-class range of electronics manufacturing inspection machines."

Obtain Analysis of Key Geographic Markets - Download Report PDF: https://www.theinsightpartners.com/sample/TIPRE00018394/

  • "Yamaha Motor Co., Ltd. announced the launch of high-end specification YRi-V TypeHS to the YRi-V 3D hybrid automated optical inspection (AOI) system, which achieves both high speed and high precision in operation for electronic component mounting factories. YRi-V TypeHS has significantly improved image processing capability by adopting a high-resolution 25-megapixel camera, which is more than twice that of previous models, and the latest high-performance CPU and GPU applications."

In terms of revenue, Asia Pacific dominated the Surface Mount Technology (SMT) Equipment market share in 2023, followed by North America and Europe. The North America Surface Mount Technology (SMT) Equipment market is segmented into the US, Canada, and Mexico. The US continues to lead globally in terms of its overall contribution to the global value chain, with strong leadership positions in high-value-added areas of semiconductor technology, including chip design, electronic design automation (EDA), and semiconductor manufacturing equipment. The US is encouraging the production of more chips on American shores. The US government is taking various steps to strengthen the semiconductor industry. For example, in May 2024, the Semiconductor Industry Association (SIA), in partnership with the Boston Consulting Group (BCG), released a report on the global chip supply chain that projects the US will triple its domestic semiconductor manufacturing capacity from 2022—when the CHIPS and Science Act (CHIPS) was enacted—to 2032. The US is expected to increase its domestic chip manufacturing by 203% in the decade following the enactment of the CHIPS and Science Act. The Surface Mount Technology (SMT) Equipment is used to mount chips on the PCB to place more features on smaller boards without having to secure components with through-hole wire leads.

Industrial automation offers a number of benefits over traditional manual labor. Hence, it is used to improve productivity, quality, and safety in manufacturing and other industrial applications. For example, according to the International Federation of Robotics (IFR), manufacturing companies in the US have invested heavily in automation: total installations of industrial robots rose by 12% and reached 44,303 units in 2023; the car industry is the number one adopter of automation, followed by the electrical & electronics sector.

Want More Information about Competitors and Market Players? Get Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00018394/

Industrial automation uses robotics, industrial sensors, machines, and control systems to perform tasks that human workers traditionally carry out. PCBs are essential in industrial automation because they provide a platform for integrating various electronic components. PCBs play a vital role in controlling robotic arms to coordinate complex manufacturing processes; they form the backbone of automation systems. The PCBs contain the placement of complex components such as BGA, CSP, QFP, DFN, and POP, which are used in industrial automation. Surface Mount Technology (SMT) Equipment can smoothly place these complex components on PCBs. Thus, the growing industrial automation is expected to create an opportunity for the growth of the Surface Mount Technology (SMT) Equipment market.

Conclusion:

Surface Mount Technology (SMT) Equipment helps with the manufacturing of electronics across consumer electronics, automotive, and medical industries. In consumer electronics, it is used for mobile phones, laptops, and TVs. In automotive electronics, it is used for engine control units and infotainment systems. In medical devices, it is used in imaging equipment and monitoring devices. Furthermore, electronic devices are getting smaller and more complicated, with ever-shrinking components. Surface Mount Technology (SMT) Equipment is required to handle these tiny components with high precision and speed during assembly processes. The growing consumer electronic industry and miniaturization of electronic products are driving the growth of the market. Increasing need for environment-friendly electronic components and growing industrial automation are expected to create growth opportunities for the market. 3D packaging and Through Silicon Via (TSV) are expected to be key market trends during the forecast period.

Require A Diverse Region or Sector? Customize Research to Suit Your Requirement: https://www.theinsightpartners.com/inquiry/TIPRE00018394/

The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system integrator, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

Related Report Titles:

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur

E-mail: ankit.mathur@theinsightpartners.com

Phone: +1-646-491-9876

Press Release: https://www.theinsightpartners.com/pr/smt-equipment-market

Logo: https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/surface-mount-technology-smt-equipment-market-worth-10-19-billion-globally-by-2031---exclusive-report-by-the-insight-partners-302277784.html

SOURCE The Insight Partners