SMT Equipment Market to Surpass Valuation of US$ 9.1 Bn by 2031, TMR Study

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Apr 19, 2022, 06:30 ET

Next-gen medical devices to leverage SMT components in PCB assemblies and generate vast revenues; increasing deployment of SMT lines in smart factories expanding lucrative avenues
Asia Pacific SMT equipment market to expand at promising pace during forecast period; adoption of smart factories in automotive industry catalyze growth

ALBANY, N.Y., April 19, 2022 /PRNewswire/ -- Transparency Market Research: SMT (Surface Mount Technology) is gaining popularity for creating robust PCB assemblies among electronics manufacturers in order to meet requirements in various industries. The use of SMT lines in the manufacture of functional medical equipment and several other automotive electronics is propelling revenue growth of the SMT equipment market. The global market valuation is projected to surpass US$ 9.1 Bn by 2031, advancing at a CAGR of 4.9% during the forecast period of 2021–2031.

Rise in use of medical PCBs in future-ready medical devices offers value-grab opportunities for stakeholders in the SMT equipment market. Advancements in high-power PCB designs, supported by software technologies, are creating incremental avenues, note the analysts in an in-depth study on the SMT equipment market.

PTH (Plated-Through Holes) parts are being compared with SMT parts in terms of assembly techniques, power, performance, and price. This will help manufacturers find right candidates wherein SMT parts are specifically helpful for PCB designs.

Strides in the electronics sector and telecom sector in emerging economies, supported largely by favorable government policies, are expanding the sales prospects in the SMT equipment market. SMT lines are gathering traction for industrial manufacturing of textile, automotive, and chemicals.

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Key Findings of SMT Equipment Market Study

Adoption of SMT Components for Modern Medical Devices Catalyze Revenue Generation: SMT lines are gathering traction for PCBs for a number of common medical devices. Thus, med-tech companies have realized the benefits of SMT parts for the manufacture of electronics for a range of therapeutic and diagnostic devices such as pressure monitors, infusion fluid control devices, and CT scanning devices. In addition to the growing sales from the medical device manufacturing industry, the demand is also growing in smartphone and smart cards. The proliferating demand for end-use products is spurring the revenue growth of the SMT equipment market.
Integration of SMT Lines with Smart Factories in Automotive to Spur Profitable Opportunities: The automotive electronics industry has generated vast interest in SMT equipment. SMT technology enables the simultaneous miniaturization and development of multifunction electronic parts for the automotive industry. The industry has become a target market for hybrid smart integrated manufacturing technologies, thereby bolstering the sales of products in the SMT equipment market, notes the TMR study.

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SMT Equipment Market: Key Drivers

The growing popularity of flex circuit in wearable electronics is underpinning R&D investments in the SMT equipment market. The adoption of SMT-based PCBs in the automotive, medical, and telecommunication offer several benefits to end users, such as reduced wiring errors and improved signal quality.
The increasing trend of miniaturization of electronics is a key driver of the SMT equipment market.

SMT Equipment Market: Regional Growth Dynamics

Asia Pacific is a highly lucrative SMT equipment market and is expected to witness massive avenues during the forecast period. Rise in sales of flex PCBs has bolstered the revenue growth of the Asia Pacific SMT equipment market.
China, India, Taiwan, and Japan have been contributing sizable revenues. Rise in production of automotive electronics has fueled the revenue potential in these countries. SMT lines have generated massive interest in Industry 4.0 smart manufacturing for various industries.

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SMT Equipment Market: Key Players

Some of the key players in the SMT equipment market are Orbotech Ltd., Juki Corporation, Hitachi High-Technologies Corporation, Fuji Machine Manufacturing Co., Ltd., Viscom AG, Mycronic AB, ASM Assembly Systems GmbH & Co.KG, Nordson Corporation, and Cyberoptics Corporation.

Global SMT Equipment Market: Segmentation

SMT Equipment Market, by Equipment Type

Inspection Equipment
Placement Equipment
Soldering Equipment
Screen Printing Equipment
Cleaning Equipment
Others

SMT Equipment Market, by Component

Passive Surface-mount Devices
Transistor & Diodes
Integrated Circuits

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SMT Equipment Market, by Application

Consumer Electronics
Telecommunication
Aerospace & Defense
Automotive
Medical
Industrial
Energy & Power Systems

SMT Equipment Market, by Region

North America

U.S.
Canada
Mexico

Europe

EU5
BENELUX
Nordic
Poland
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
ASEAN
Australia & New Zealand
Rest of APAC

· Middle East & Africa (MEA)

GCC Countries
South Africa
North Africa
Rest of Middle East & Africa

· South America

Brazil
Argentina
Rest of South America

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