Global Surface Mount Technology (SMT) Equipment Market: Snapshot
Surface mount technology (SMT) started becoming widely used in the late 1980’s with the increased global demand for electronic circuits in a number of applications across industries such as consumer electronics, telecommunication, automotive, aeronautics, and healthcare. The equipment used to implement the technology, comprising of an end-to-end assembly line that includes a surface mount technology equipment printer, place-and-pick machine, and reflow oven that places surface mount devices onto a printed circuit board, have replaced conventional electronic circuit production lines in electronics companies at a rapid pace ever since.
In the intensely competitive electronic circuit board manufacturing industry, companies have benefitted significantly from the easily modular, efficient, and adaptable SMT solutions in their way to becoming market leaders. The field of surface mount technology equipment has witnessed innovation at a rapid pace over the years, leading to the development of equipment with a high level of innovation, enabling vast sophistication in technology and reduced size of electronic gadgets. With the rising demand for complex printed circuit boards and assemblies, companies in the surface mount technologies are provided vast growth opportunities.
Furthermore, huge investment in consumer electronics segment across the globe, government initiatives and useful application across a number of end-use industries are projected to lead to promising growth opportunities for SMT equipment companies in the next few years as well. Transparency Market Research estimates that the market will exhibit a promising 4.4% CAGR from 2017 to 2025, rising from a valuation of US$4845.7 mn in 2016 to US$7075.8 mn by 2025.
Placement Equipment to Account for Massive Chunk in Global Revenue
In terms of equipment type, the surface mount technology equipment market is segmented in the report into placement equipment, inspection equipment, soldering equipment and cleaning equipment. Of these, the global market for surface mount technology equipment earns a massive chunk of its overall revenue from sales of placement equipment. The segment accounted for a massive 35.7% of the global market and is expected to gain around 2% more in its share in the global market by the end of the forecast period. The rising global demand for printed circuit boards in products such as smartphones and other popular varieties of smart computing devices and wearables is expected to remain key to the strong demand observed for SMT placement equipment over the said period.
Asia Pacific to Remain Key Contributor of Revenue to Global SMT Equipment Market
In terms of geography, Asia Pacific dominated the global SMT equipment market in 2016, accounting for a nearly 42% of the market in 2016. The presence of some of the leading SMT equipment manufacturers as well as of several leading consumer electronics companies in the region have provided vast growth opportunities to the regional market in the past few years and are expected to continue to drive the market over the forecast period as well. The Asia Pacific SMT equipment market is also expected to benefit from initiatives taken by electronics manufacturers to upgrade product lines.
North America acquired the second leading position in the global surface mount technology equipment market, accounting for more than 25% in 2016, in terms of revenue. The market in North America has evolved during the past decade due to vast technological advancements across a number of end-use industries. Substantial industrial development activities and early penetration of latest technology in the U.S. are also the key factors driving the growth of the North America surface mount technology equipment market. Moreover, the electronics manufacturing services (EMS) industry in North America has witnessed stable growth in the recent years and is expected to witness steady growth during the forecast period as well, which, in turn, is set to drive the surface mount technology equipment market in this region from 2017-2025.
Some of the leading companies operating in the global surface mount technology equipment market are Mycronic AB (Sweden), Nordson Corporation (The U.S), Viscom AG (Germany), Fuji Machine Mfg. Co., Ltd. (Japan), ASML Holding, N.V. (Netherlands), KLA-Tencor Corporation (The U.S),Juki Corporation (Japan), Panasonic Corporation (Japan), Hitachi, Ltd. (Japan), and Orbotech Ltd. (Israel)
Global Surface Mount Technology (SMT) Equipment Market: Overview
Surface mount technology (SMT) equipment uses different works on advanced principles and soldering equipment to offer more electrical conductivity, which compromises improved reliability in comparison to thru-hole soldering technology. As different to modern thru-hole soldering approaches, surface mount technology communicates with the soldering of SMD on the surface of a printed circuit board. Increasing demand of consumer electronics is having a positive influence on the surface mount technology equipment market in coming years.Usages of Surface Mount Technology Equipment coupled with well-established methods and techniques are some of the major driving factors for the surface mount technology equipment market. Additionally, the growing usage of different types of SMT equipment such as inspection equipment, placement equipment, soldering equipment among others in the printed circuit board manufacturing is expected to have a positive impact on the Surface Mount Technology Equipment market. In addition, various electronics manufacturing organizations across various regions especially in India, China and Indonesia among others are witnessing significant growth due to the rising spending on technological advanced SMT equipment in coming years.The global Surface Mount Technology Equipment (SMT) market is expected for a steady growth rate during the projection period of 2017 to 2025.
Global Surface Mount Technology (SMT) Equipment Market: Segmentation
Based on equipment type, the surface mount technology equipment (SMT) market is segmented into placement equipment, inspection equipment, soldering equipment and cleaning equipment among others. In addition, various interactive display (LCD/LED) manufactures are now focusing on installation of pick and placement SMT equipment in their production line due to growing adoption of interactive displays and enhanced the capability of the production.Based on end use industry, the Surface Mount Technology Equipment market has been segmented into automotive, aerospace and defense, consumer electronics, healthcare, industrial and others.Geographically, the global Surface Mount Technology Equipment market has been bifurcated into North America, Europe, Asia Pacific, Middle East and Africa, Latin America. The Surface Mount Technology Equipment market has been provided in (USD million) in terms of revenue as well as the CAGR for the forecast period of 2017 to 2025.
The key players in the Surface Mount Technology Equipment market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of Surface Mount Technology Equipment market. Further, the report includes the market attractiveness analysis of different types of equipment of Surface Mount Technology Equipment market and insight into the major end use industry area of the Surface Mount Technology Equipment.
Global Surface Mount Technology (SMT) Equipment Market: Scope of the Report
The report also provides assessment of different drivers that is impacting the global Surface Mount Technology Equipment market, along with the restraints and opportunities that has also been covered under the scope of this report. For each segment (such as equipment type, end use industry), market dynamics analysis has been provided. All these factors helps in determining different trends that has been impacting the overall Surface Mount Technology Equipment market growth. Moreover, after taking into consideration all this factors, an extensive analysis of the region wise growth parameters of Surface Mount Technology Equipment market along with the overall assessment for the forecast period of 2017-2025 has been also been provided within this report. Moreover, patent analysis is also included in the scope of the research. Major share and competitive landscape of major companies has been covered in the scope our report.
The global Surface Mount Technology Equipment market is characterized by the presence of numerous key players in the market The key market players compete their competition on the basis of factors such as price, performance, quality, support services and innovations of product. Major players in Surface Mount Technology Equipment market are Mycronic AB (Sweden), Nordson Corporation (The U.S), Viscom AG (Germany), Fuji Machine Mfg. Co., Ltd. (Japan), ASML Holding, N.V. (Netherlands), KLA-Tencor Corporation (The U.S), Juki Corporation (Japan), Panasonic Corporation (Japan), Hitachi, Ltd. (Japan) and Orbotech Ltd. (Israel) among others.
The Surface Mount Technology Equipment markethas been segmented as follows:
Global Surface Mount Technology Equipment market, by Equipment Type
- Placement Equipment
- Inspection Equipment
- Soldering Equipment
- Cleaning Equipment
Global Surface Mount Technology Equipment Market, by End Use Industry
- Aerospace and Defense
- Consumer Electronics
Global Surface Mount Technology Equipment Market, by Geography
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America