Surface Mount Technology Market – Global Forecast to 2022

“Surface mount technology market expected to exhibit significant growth potential between 2017 and 2022”

The surface mount technology (SMT) market is expected to grow at a CAGR of 8.9% between 2017 and 2022 to reach USD 5.42 billion by 2022. The key driving factors for the growth of the surface mount technology market are the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market. However, the factors such as high investment cost for setting up of production units, and the high frequency and need for thermal management are the major factors restraining the growth of this market.

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“Placement equipment expected to hold a major share of the surface mount technology market during the forecast period”

Placement equipment is expected to hold a major share of the market by 2022. Placement equipment is one of the most important parts of SMT manufacturing since it places the components reliably and accurately enough to meet the output requirements in an optimized manner. The SMT placement equipment with full component feeders accounted for about 50% of the total capital investment which is required for a medium-volume SMT manufacturing line.

“Market for consumer electronics expected to grow at the highest rate between 2017 and 2022”

The consumer electronics market is expected to grow at the highest rate between 2017 and 2022. The growing trend of miniaturization in consumer electronics, higher production speed, introduction of new products on a continuous basis, and increasing spending budgets on consumer electronics are the factors fuelling the growth of the SMT technology in the consumer electronics industry.

“Surface mount technology market in APAC expected to grow at the highest rate during the forecast period”

The surface mount technology market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The increasing wireless communication standards and the rising demand for 3G/4G networks are boosting the demand for SMT in the telecommunication sector in this region. China is one of the fastest-growing economies in the world, and its market for SMT is expected to grow primarily because of the vast number of SMT manufacturing companies.

The breakdown of the profiles of primary participants for the report has been given below:

– By Company Type: Tier 1 = 42%, Tier 2 = 33%, and Tier 3 = 25%
– By Designation: C-Level Executives = 46%, Directors = 35%, and Others = 19%
– By Region: North America = 49%, Europe = 24%, APAC = 21%, and RoW = 6%

The key players in the surface mount technology market include Fuji Machine Manufacturing Co., Ltd. (Japan), Hitachi High-Technologies Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), ASM Assembly Systems GmbH & Co. KG (Germany), CyberOptics Corporation (U.S.), Electro Scientific Industries Inc. (Oregon), Juki Corporation (Japan), and Viscom AG (Germany).

Research Coverage:

The research report analyzes the surface mount technology market based on the following segments-equipment, application, and geography. The market has been segmented on the basis of equipment into screen print, soldering, placement, inspection, cleaning, and repairs & rework equipment.

The Report Covers the Market Segmented on the Basis of the Following Applications:

– Consumer electronics
– Telecommunication
– Aerospace & defense
– Automotive
– Medical
– Industrial
– Energy & power systems

The Report Also Covers the Market Segmented on the Basis of Four Major Regions:

– North America
– Europe
– APAC
– RoW

Key Benefits of Buying the Report:

– Illustrative segmentation, analysis, and forecast for the market based on equipment, application, and geography have been provided to give an overall view of the surface mount technology market.
– Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the surface mount technology market.
– The major drivers, restraints, opportunities, and challenges for the surface mount technology market have been detailed in this report.
– The report includes a detailed competitive landscape along with key players and their revenue.

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Title Index:

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Surface Mount Technology Market, By Component (Qualitative)
8 Surface Mount Technology Market, By Service (Qualitative)
9 Surface Mount Technology Market, By Equipment
10 Surface Mount Technology Market, By Application
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles

Executive Summary:

The surface mount technology market is expected to be valued at USD 5.42 Billion by 2022, growing at a CAGR of 8.9% between 2017 and 2022. The growth of this market is propelled by the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market

Placement equipment is expected to hold the largest share of the overall surface mount technology market in 2017. The SMT placement equipment market is driven by the need for higher accuracy, product miniaturization, improved speed, and flexibility. The SMT placement equipment is used to manufacture electronic systems in which electronic components are fitted with high speed and high accuracy on PCBs, which are then used in manufacturing consumer electronics and industrial equipment. The market for inspection equipment is expected to grow at the highest rate between 2017 and 2022. The inspection system is an important division of the assembly process and helps to manufacture a stable, high-quality product. As the PCB moves around on a placement machine, there is a possibility of components getting disoriented from their location. Hence, the equipment has to inspect for any errors and disorientation before passing the PCB through the soldering process.

The consumer electronics industry is expected to dominate the market during the forecast period and is expected to grow at a high CAGR. The increasing miniaturization of electronic devices is leading to the manufacturing of compact, multifunctional, and power-efficient consumer electronic devices. These are expected to overcome the hardware limitations for consumer electronics as they need to have a number of components placed in a limited amount of space, and also have to be reliable, safe, and long lasting. The market for the automotive industry is expected to grow at the highest rate. The growing demand for luxury vehicles, sports utility vehicles, and technologically advanced vehicles has increased the usage of electric components in the automotive industry. The large and growing automotive market in the APAC region offers numerous business opportunities for electronic component manufacturers. This leads to the increased use of SMT in the automotive application.

APAC held the largest share of the overall surface mount technology market, and this market is expected to grow at the highest rate during the forecast period. The growing demand for mobile phones, LCD/LED television sets, LED and CFL lighting, and other consumer electronics products drives the SMT market in APAC. Additionally, the growing trend of miniaturization, higher production speed, and continuous introduction of new products further drives the need for SMT in this region.

Some of the key restraining factors for the surface mount technology market are high investment cost for setting up of production units, and the high frequency and need for thermal management act. The key market players, including Nordson Corporation (U.S.) and Fuji Machine Manufacturing Co., Ltd. (Japan), are focusing on strategies such as contracts, agreements, and partnerships to enhance their geographical presence and expand their business.

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