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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Surface Mount Technology (SMT) Equipment Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.72% |
Market Growth 2024-2028 |
USD 2.54 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.72 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and UK |
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
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