Surface Mount Technology Smt Equipment Market
Surface Mount Technology (SMT) Equipment Market Forecasts to 2030 - Global Analysis By Type (Placement Machines, Soldering Equipment, Inspection Equipment, Printing Equipment, Cleaning Equipment, Rework & Repair Equipment and Other Types), Component, Automation, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Surface Mount Technology (SMT) Equipment Market is accounted for $5.83 billion in 2023 and is expected to reach $14.15 billion by 2030 growing at a CAGR of 13.5% during the forecast period. Surface Mount Technology (SMT) Equipment refers to machines used in the assembly of electronic circuits on printed circuit boards (PCBs). These machines handle components in a miniaturized form, allowing for precise placement directly onto the PCB's surface. SMT equipment enhances production efficiency, reduces manufacturing costs, and enables the creation of compact, high-performance electronic devices.
Market Dynamics:
Driver:
Globalization of electronics manufacturing
Emerging markets are experiencing a surge in demand for SMT equipment as production facilities grow worldwide. The necessity for effective, quick assembly procedures to suit the expanding needs of multiple industries is driving this development. Precision, miniaturization, and high-volume production are made possible by SMT technology, which helps businesses meet the demands of globalised supply chains. As a result, the globalisation of electronics production serves as a major catalyst for the uptake and development of SMT equipment globally.
Restraint:
Technological complexity and skills gap
The intricate nature of SMT equipment demands specialized expertise for operation and maintenance, creating a shortage of skilled professionals. This scarcity limits the widespread adoption of SMT technology, particularly in regions lacking robust training programs or educational resources. Additionally, the rapid evolution of SMT technology requires continuous skill development, exacerbating the skills gap. Consequently, the industry faces challenges in effectively deploying and maximizing the potential of SMT equipment, hindering market growth and innovation.
Opportunity:
Increasing adoption of IoT and wearable devices
The consumer demand for surface mount technology (SMT) equipment is driven by the growing use of wearables and the Internet of Things, which calls for more sophisticated assembly capabilities. SMT methods enable the smaller form factors, higher component density, and enhanced functionality required by these devices. As wearables and the Internet of Things grow more and more ingrained in daily life, manufacturers need SMT equipment that can precisely handle small, complicated components and complex designs. This promotes innovation in SMT technology and the creation of increasingly complex machinery to satisfy these industries' changing needs. As a result, the market for SMT equipment is growing as a result of the widespread use of wearable technology and IoT.
Threat:
High initial investment costs
SMT equipment incurs high initial investment costs due to the sophisticated technology involved, including precision machinery, robotics, and automation systems. Additionally, these machines require specialized training and expertise to operate effectively, adding to the overall investment. High upfront costs act as a barrier for small and medium-sized enterprises (SMEs) looking to enter the market or expand their production capabilities. This hampers market growth by limiting the accessibility of advanced SMT equipment, thereby restricting overall market expansion and innovation.
Covid-19 Impact
The covid-19 pandemic significantly impacted the surface mount technology (SMT) Equipment market. Supply chain disruptions, production halts, and reduced demand for electronics resulted in a downturn. However, as industries adapted to remote work and consumer demand for electronics increased, there was a gradual recovery. Additionally, the pandemic accelerated trends like automation and digitalization, driving demand for SMT equipment for manufacturing various electronic components. Overall, while the initial impact was negative, the market showed resilience and adapted to the changing landscape.
The printed circuit board (PCB) assembly segment is expected to be the largest during the forecast period
The printed circuit board (PCB) assembly segment is estimated to have a lucrative growth. SMT machines facilitate the automated placement of electronic components directly onto the surface of PCBs, streamlining the assembly process. They include pick and place machines for accurate component positioning, solder paste printers for precise solder application, and inspection systems for quality control. This technology enables efficient, high-volume production of electronic devices, ensuring reliability and performance in various industries.
The consumer electronics segment is expected to have the highest CAGR during the forecast period
The consumer electronics segment is anticipated to witness the highest CAGR growth during the forecast period. SMT equipment revolutionizes consumer electronics manufacturing by offering compact, efficient, and high-speed assembly solutions. This technology facilitates mass production of electronic devices such as smartphones, tablets, laptops, and wearables, meeting consumer demands for sleek designs and advanced functionalities. SMT equipment streamlines production processes, reduces material waste, and ensures precise component placement, resulting in cost-effective manufacturing and superior product quality in the consumer electronics industry.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period. The Asia Pacific region is a key hub for the surface mount technology (SMT) equipment market, driven by the presence of major electronics manufacturing centers in countries like China, Japan, South Korea, and Taiwan. The region benefits from the rapid industrialization, growing consumer electronics market, and increasing investments in advanced manufacturing technologies. Additionally, favourable government initiatives and incentives aimed at promoting innovation and industry growth further propel the SMT Equipment market in the Asia Pacific region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to its advanced technology adoption and stringent quality standards. The region hosts prominent electronics manufacturers in countries such as Germany, the United Kingdom, France, and Italy. The market benefits from strong R&D investments, fostering innovation in SMT equipment to meet evolving industry demands. Additionally, increasing focus on sustainability and energy efficiency drives the adoption of eco-friendly manufacturing practices. Regulatory support for advanced manufacturing and technological integration further boosts the growth of the SMT Equipment market in Europe, positioning it as a significant player globally.
Key players in the market
Some of the key players profiled in the Surface Mount Technology (SMT) Equipment Market include Siemens Electronics, Fuji Machine Manufacturing Limited, Panasonic Corporation, Mycronic AB, Juki Corporation, Yamaha Motors Limited, Hanwha Corporation, Nordson Corporation, KLA Corporation, Viscom AG, Universal Instruments Corporation, Europlacer, SMTmax, Neoden Technology and CyberOptics Corporation.
Key Developments:
In October 2023, SMTmax, a renowned leader in Surface Mount Technology (SMT) equipment services, announced all-encompassing repair and servicing offerings for Feeder, Head, and NXT Machines. As the industry’s preferred choice, SMTXTRA sets the bar for excellence in repair services.
In September 2023, Panasonic Corporation launched the new surface mount technology (SMT) machines, NPM-GH and NPM-GP, for Indian manufacturers. The NPM-GH is a modular mounter that ensures the production of non-defective items by independently controlling autonomous mounting lines and floors.
Types Covered:
• Placement Machines
• Soldering Equipment
• Inspection Equipment
• Printing Equipment
• Cleaning Equipment
• Rework & Repair Equipment
• Other Types
Components Covered:
• Passive Components
• Active Components
• Electromechanical Components
• Other Components
Automations Covered:
• Manual
• Semi-Automatic
• Fully Automatic
Technologies Covered:
• 2D Inspection Equipment
• 3D Inspection Equipment
• X-Ray Inspection Equipment
• Optical Inspection Equipment
• Other Technologies
Applications Covered:
• Printed Circuit Board (PCB) Assembly
• Electronics Manufacturing Services (EMS)
• Original Equipment Manufacturers (OEMs)
• Other Applications
End Users Covered:
• Consumer Electronics
• Automotive
• Aerospace & Defense
• Healthcare
• Industrial
• Telecommunications
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Surface Mount Technology (SMT) Equipment Market, By Type
5.1 Introduction
5.2 Placement Machines
5.3 Soldering Equipment
5.4 Inspection Equipment
5.5 Printing Equipment
5.6 Cleaning Equipment
5.7 Rework & Repair Equipment
5.8 Other Types
6 Global Surface Mount Technology (SMT) Equipment Market, By Component
6.1 Introduction
6.2 Passive Components
6.2.1 Resistors
6.2.2 Capacitors
6.2.3 Inductors
6.3 Active Components
6.3.1 Integrated Circuits
6.3.2 Transistors
6.3.3 Diodes
6.4 Electromechanical Components
6.4.1 Connectors
6.4.2 Switches
6.4.3 Relays
6.5 Other Components
7 Global Surface Mount Technology (SMT) Equipment Market, By Automation
7.1 Introduction
7.2 Manual
7.3 Semi-Automatic
7.4 Fully Automatic
8 Global Surface Mount Technology (SMT) Equipment Market, By Technology
8.1 Introduction
8.2 2D Inspection Equipment
8.3 3D Inspection Equipment
8.4 X-Ray Inspection Equipment
8.5 Optical Inspection Equipment
8.6 Other Technologies
9 Global Surface Mount Technology (SMT) Equipment Market, By Application
9.1 Introduction
9.2 Printed Circuit Board (PCB) Assembly
9.3 Electronics Manufacturing Services (EMS)
9.4 Original Equipment Manufacturers (OEMs)
9.5 Other Applications
10 Global Surface Mount Technology (SMT) Equipment Market, By End User
10.1 Introduction
10.2 Consumer Electronics
10.3 Automotive
10.4 Aerospace & Defense
10.5 Healthcare
10.6 Industrial
10.7 Telecommunications
10.8 Other End Users
11 Global Surface Mount Technology (SMT) Equipment Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Siemens Electronics
13.2 Fuji Machine Manufacturing Limited
13.3 Panasonic Corporation
13.4 Mycronic AB
13.5 Juki Corporation
13.6 Yamaha Motors Limited
13.7 Hanwha Corporation
13.8 Nordson Corporation
13.9 KLA Corporation
13.10 Viscom AG
13.11 Universal Instruments Corporation
13.12 Europlacer
13.13 SMTmax
13.14 Neoden Technology
13.15 CyberOptics Corporation
List of Tables
1 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Region (2021-2030) ($MN)
2 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Type (2021-2030) ($MN)
3 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Placement Machines (2021-2030) ($MN)
4 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Soldering Equipment (2021-2030) ($MN)
5 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Inspection Equipment (2021-2030) ($MN)
6 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Printing Equipment (2021-2030) ($MN)
7 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Cleaning Equipment (2021-2030) ($MN)
8 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Rework & Repair Equipment (2021-2030) ($MN)
9 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Component (2021-2030) ($MN)
11 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Passive Components (2021-2030) ($MN)
12 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Resistors (2021-2030) ($MN)
13 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Capacitors (2021-2030) ($MN)
14 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Inductors (2021-2030) ($MN)
15 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Active Components (2021-2030) ($MN)
16 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Integrated Circuits (2021-2030) ($MN)
17 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Transistors (2021-2030) ($MN)
18 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Diodes (2021-2030) ($MN)
19 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Electromechanical Components (2021-2030) ($MN)
20 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Connectors (2021-2030) ($MN)
21 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Switches (2021-2030) ($MN)
22 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Relays (2021-2030) ($MN)
23 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Other Components (2021-2030) ($MN)
24 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Automation (2021-2030) ($MN)
25 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Manual (2021-2030) ($MN)
26 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Semi-Automatic (2021-2030) ($MN)
27 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Fully Automatic (2021-2030) ($MN)
28 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Technology (2021-2030) ($MN)
29 Global Surface Mount Technology (SMT) Equipment Market Outlook, By 2D Inspection Equipment (2021-2030) ($MN)
30 Global Surface Mount Technology (SMT) Equipment Market Outlook, By 3D Inspection Equipment (2021-2030) ($MN)
31 Global Surface Mount Technology (SMT) Equipment Market Outlook, By X-Ray Inspection Equipment (2021-2030) ($MN)
32 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Optical Inspection Equipment (2021-2030) ($MN)
33 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Other Technologies (2021-2030) ($MN)
34 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Application (2021-2030) ($MN)
35 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Printed Circuit Board (PCB) Assembly (2021-2030) ($MN)
36 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Electronics Manufacturing Services (EMS) (2021-2030) ($MN)
37 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Original Equipment Manufacturers (OEMs) (2021-2030) ($MN)
38 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Other Applications (2021-2030) ($MN)
39 Global Surface Mount Technology (SMT) Equipment Market Outlook, By End User (2021-2030) ($MN)
40 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Consumer Electronics (2021-2030) ($MN)
41 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Automotive (2021-2030) ($MN)
42 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
43 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Healthcare (2021-2030) ($MN)
44 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Industrial (2021-2030) ($MN)
45 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Telecommunications (2021-2030) ($MN)
46 Global Surface Mount Technology (SMT) Equipment Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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