Surface Mount Technology Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Global surface mount technology market is anticipated to grow at a CAGR of 7.7% during the forecast period (2023-2030). The demand for surface mount technology is rising rapidly, owing to growing the electronics industry, increasing mass production of electronics devices, increasing usage of flexible materials printed circuit boards, and the trend of miniaturization and the need for electrical and mechanical components mounting. Surface mount technology has the advantages of achieving higher packaging densities, higher reliability, and reduced cost than the plated through-hole insertion process. Surface mount technology is currently the process most widely used for low-cost, high-production consumer electronic assemblies. Furthermore, the increasing automation across the end users such as telecommunication, consumer electronics, automotive, aerospace & defense, and others is another major factor driving the growth of the market.

Surface mount package compatible with automated PCB assembly processes. The smaller solution in a modified surface mount package allows designers to achieve robust circuit protection with less PCB space than the available axial leaded solutions. For instance, in May 2023, Littelfuse, Inc., an industrial technology manufacturing company empowering a sustainable, connected, and safer, launched its latest product, the LTKAK2-L Series High Power TVS Diodes. This surface mount solution addresses the market demand for automated PCB assembly process-compatible TVS diodes with a high surge rating.

The growing demand for small-batch runs and experiencing the challenges of sourcing parts for low-volume production - without sacrificing speed or quality provide a more seamless experience for their customers. For instance, in November 2021, Alert Tech, a technology company based in Houston, Texas, launched a new SMT (surface mount technology) division, specializing in low-volume printed circuit board development and assembly. Alert Tech SMT offers clients a streamlined contract manufacturing process that prioritizes agility and customer service - two things that are in high demand, yet short supply in the rapidly expanding industry.

The new generation of mounter platforms for the increasing amounts of data traffic produced by future developments in automation and meet requirements in the era of high-speed, high-volume communication with accelerated data sharing. For instance, in January 2020, Yamaha Motor Co., Ltd. launched a new YRM20 surface mounter for electronics manufacturing and surface-mounting technology. The YRM20 uses a new machine-control system ready to handle a new era of escalating data speed and volume requirements at production sites.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

· By Equipment

· By Components

· By End Users

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- Fuji Corp., Juki Corp., KLA Corp., Mycronic AB, Hanwha Techwin, Omron Corp., Panasonic Corp., Yamaha Motor Co., Ltd. and others.

Surface Mount Technology Market Report Segment

By Equipment

• Placement Equipment

• Inspection Equipment

• Coating Equipment

• Solder Equipment

• Cleaning Equipment

• Screen Printing Equipment

• Others (Stencils, Rework and Repair Equipment)

By Components

• Transistor & Diodes

• Integrated Circuits

• Chip Resistor

By End Users

• Telecommunication

• Consumer electronics

• Automotive

• Aerospace & Defense

• Pharmaceutical and Medical Devices

• Energy & Power Systems

• Industrial (Industrial Automation and Motion Control, Mechatronics and Robotics, Power Electronics and Photovoltaics Systems)

• Others (Printing, Paper and Pulp)

A full Report of Surface Mount Technology Market is Available @ https://www.omrglobal.com/industry-reports/surface-mount-technology-market

Surface Mount Technology Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• Amtest d.o.o.

• ASMPT SMT Solutions

• Blakell Europlacer Ltd.

• CyberOptics Corp.

• Fuji Corp.

• Hanwha Techwin

• Hayawin Electronic Technology Co., Ltd.

• Heller Industries, Inc.

• Juki Corp.

• KLA Corp.

• Koh Young Technology Inc.

• Kulicke and Soffa Industries, Inc.

• Mycronic AB

• Omron Corp.

• Panasonic Corp.

• Precision Valve & Automation, Inc.

• Universal Instruments Corp.

• Viscom AG

• Yamaha Motor Co., Ltd.

• Zhejiang Neoden Technology Co., Ltd.

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