Global Surface Mount Technology Equipment Market Predicted to Witness Strong CAGR of 4.5% Through 2026

The rapidly changing and complex global market for surface mount technology equipment is the focus of analysis of a recent market intelligence report added to the vast portfolio of Market Research Hub (MRH). The report is titled as “Surface Mount Technology Equipment Market - Global Industry Analysis Size Share Growth Trends and Forecast 2018 – 2026”, which gives comprehensive insights into the present state of this market and contains several forward-looking statements regarding the potential growth prospects of crucial elements and segments of the market.

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Key Insights and Research Enclosure

According to the research key findings, the market is estimated to expand at a CAGR of 4.5% during the forecast period from 2018 to 2026. In terms of volume, the market for surface mount technology equipment is probable to grasp 208.8 thousand unit at a CAGR of over 4% by 2025.

The above findings from the study have been evaluated on the basis of key trends, drivers and factors that are contributing towards market growth rapidly. In the initial section, the report talks about market scope covering the definition of surface mount technology and its segmentation into equipment type, and end users. SMT equipment refers to that equipment which consists of its components placed on its printed circuit board. Presently, it simplifies a widespread solution for different end-use industry which includes automotive, aerospace and defense, consumer electronics, healthcare and industrial among others. The report has also been evaluated on the basis of equipment type, which are Placement Equipment, Inspection Equipment, Soldering Equipment and Cleaning Equipment.

In the market overview section, the research also embraces analysis of market dynamics including drivers, restraints, and opportunities that influence the current nature and future status of this market. In the present time, growing usage of a flex circuit in wearable electronics across various sector especially in smartphone and smart card industry is the primary factor foreseen to nurture the demand and innovation of surface mount technology market during the forecast period 2018 to 2026.

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To provide better and accurate results, the report majorly focuses on some of the prime regions including the Middle East and Africa (MEA), Europe, Asia Pacific, North America, and Latin America. The report also includes forecast on market size, revenue generated, sales, year-on-year growth in the global market, regional market, and its crucial segments. As per the recent evaluations, Asia Pacific dominated the market share in terms of revenue in 2017. This trend is anticipated to remain same in the coming years as well, followed by North America. Among various product type, placement and soldering equipment technology is used in different consumer electronics manufacturing industry which in turn has increased application scope of the surface mount technology equipment market.

Some of the key players operating in surface mount technology equipment market are Mycronic AB, Nordson Corporation, Koh Young Technology, Test Research, Inc., Viscom AG, ASML Holding, N.V., KLA-Tencor Corporation, JUTZE Intelligence Technology Co., Ltd., Juki Corporation, Panasonic Corporation, Hitachi, Ltd., Mirtech, Omron Corporation, PARMI Corp., and Yamaha Motor Co., Ltd. among others.

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This release was published on openPR.