Overview and Scope
Surface mount technology refers to a component assembly method for printed circuit boards in which the components are linked and attached utilizing batch solder reflow operations to the surface of the printed circuit board. This technique is utilized in the manufacture of electronic devices and provides advantages such as decreased component sizes, less interference coupling, and a high degree of precision and reproducibility.
Sizing and Forecast
The surface mount technology market size has grown rapidly in recent years. It will grow from $5.23 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to miniaturization of electronic devices, advancements in component packaging, increased efficiency in mass production, higher component density, improved electrical performance.
The surface mount technology market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rise of Internet of things (IoT), flexible and wearable electronics, increased adoption of advanced materials, integration of artificial intelligence (AI), electric vehicle (EV) manufacturing. Major trends in the forecast period include advancements in package-on-package (PoP) technology, 5G technology implementation, technological advancements in pick-and-place systems, rise of smart manufacturing and industry 4.0, lead-free soldering technologies.
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Segmentation & Regional Insights
The surface mount technology market covered in this report is segmented –
1) By Equipment: Placement, Inspection, Coating Equipment, Solder Equipment, Cleaning Agents, Rework And Repair Equipment
2) By Components: Transistor And Diodes, Integrated Circuits
3) By Industry Vertical: Telecommunication, Consumer electronics, Automotive, Aerospace And Defense, Healthcare
Asia-Pacific was the largest region in the surface mount technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global surface mount technology market report during the forecast period. The regions covered in the surface mount technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing electric car sales is significantly contributing to the growth of the surface mount technology market going forward. An electric car refers to a vehicle that is powered totally or partially by electricity from a battery that must be recharged. In electric vehicles, surface-mount technology (SMT) is used to install electrical components directly onto the surface of a printed circuit board (PCB). SMT provides greater mechanical durability under stress and vibration, which is critical in the automobile sector. For instance, according to April 2023 report published by the International Energy Agency, a France-based intergovernmental organization that provides policy recommendations, analysis, and data on the entire global energy sector, the global sales of electric vehicles are expected to grow from 10 million in 2022 to 14 million in 2023. Therefore, the increasing electric car sales will drive the surface mount technology market.
Key Industry Players
Major companies operating in the surface mount technology market report are Hitachi High-Technologies Corporation, Panasonic Holdings Corporation, Assembleon Automation Hanwha Group, Fuji Corporation, Yamaha Motor Co Ltd, Nordson Corporation, Kulicke and Soffa Industries Inc., Speedline Technologies, ASM Assembly Systems GmbH & Co KG, Universal Instruments, Rayming Technology, Essemtec AG, CyberOptics Corporation, Juki Corporation, Aurotek Corporation, Electro Scientific Industries Inc., GPD Global, Europlacer, Koh Young Technology Inc., Electronic Manufacturing Services Group Inc., Viscom AG, Mycronic AB, SSM MYDATA Services, Zhejiang Neoden Technology Co Ltd, Kasdon Electronics Limited, Saki Corporation, DDM Novastar, Onetech Smt Solutions Private Limited
The surface mount technology market report table of contents includes:
1. Executive Summary
2. Surface Mount Technology Market Characteristics
3. Surface Mount Technology Market Trends And Strategies
4. Surface Mount Technology Market – Macro Economic Scenario
5. Global Surface Mount Technology Market Size and Growth
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32. Global Surface Mount Technology Market Competitive Benchmarking
33. Global Surface Mount Technology Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Surface Mount Technology Market
35. Surface Mount Technology Market Future Outlook and Potential Analysis
36. Appendix
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