Surface Mount Technology (SMT) Equipment Market Report 2024: Growth Rate, Major Segments And Regions

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According to The Business Research Company’s Surface Mount Technology (SMT) Equipment Global Market Report 2024, The surface mount technology (SMT) equipment market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.  The growth in the forecast period can be attributed to an increase in automotive electronics, rising adoption of mobile devices, increasing production of medical devices, increasing in smart home devices, and rising investment in renewable energy. Major trends in the forecast period include technological advancements, 3D printing, integration of AI, adoption of IoT, and 5G technology.

The rising demand for electronic devices is expected to propel the growth of the surface mount technology (SMT) equipment market going forward. Electronic devices are equipment that operate on electrical energy, using electronic circuits to manipulate currents and signals for various applications and specific tasks. The advancement in semiconductor technology has led to the creation of smaller, more powerful, and energy-efficient components, making electronic devices more portable and convenient. Surface mount technology (SMT) equipment enables the efficient and precise assembly of electronic components onto PCBs, contributing to the production of sophisticated electronic devices used in various industries ranging from consumer electronics to aerospace and healthcare. For instance, in April 2024, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total production of electronic components and devices in Japan was ¥605,945 million ($3,760 million), a 113.3% increase over the previous year. Therefore, the rising demand for electronic devices is driving the growth of the surface mount technology (SMT) equipment market.

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The surface mount technology (SMT) equipment market covered in this report is segmented –

1) By Equipment: Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Repair Equipment, Rework Equipment
2) By Component: Passive Components, Active Components
3) By Service: Designing, Test And Prototyping, Supply Chain Services, Manufacturing, Aftermarket Services
4) By End-User : Telecommunication, Consumer electronics, Aerospace and defense, Automotive, Other End-Users

Major companies operating in the surface mount technology (SMT) equipment market are developing intelligent, advanced process control SMT machines to enhance precision, efficiency, and reliability in the manufacturing process. Intelligent advanced process control (APC) SMT machines are sophisticated equipment used to manufacture electronic circuits. These machines integrate artificial intelligence (AI), machine learning, and advanced sensor technologies to optimize the placement and soldering of components onto printed circuit boards (PCBs). For instance, in September 2023, Panasonic Holdings Corporation, a Japan-based electronics company, launched new NPM-G Series SMT machines in India. These machines have various distinguishing qualities, including high-speed placement capabilities and considerably increasing throughput and productivity. The NPM-G Series’ advanced vision systems provide precise and accurate component placement, eliminating mistakes and enhancing overall quality. The machines also have a modular architecture, allowing for easy scalability and customization to fulfill various production requirements. Its Integration with smart factory systems offers real-time monitoring and data analytics, giving manufacturers vital insights for optimizing their operations.

The surface mount technology (smt) equipment market report table of contents includes:

1. Executive Summary
2. Surface Mount Technology (SMT) Equipment Market Characteristics
3. Surface Mount Technology (SMT) Equipment Market Trends And Strategies
4. Surface Mount Technology (SMT) Equipment Market – Macro Economic Scenario
5. Global Surface Mount Technology (SMT) Equipment  Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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