Surface Mount Technology Market 2023 Driving Factors Forecast Research 2029

Surface mount technology market is anticipated to grow at a CAGR of 7.7% during the forecast period (2023-2030). Surface mount technology supports manufacturing automation that reduces cost and improves quality. The growing adoption of innovation within manufacturing facilities by seamlessly integrating viable equipment and advanced devices is the key factor supporting the growth of the market globally. Surface mount technology machines are designed to respond in real-time to customer supply and demand changes through continuous, autonomous updates. This feature helps to make the autonomous factory a reality. Overall, the mounting system offers flexibility and customizable options to address the production needs of PCBAs and extend automation in manufacturing. Hence, the market players are also focusing on introducing efficiency and precision in assembling state-of-the-art surface mount technology solutions that further bolster the market growth. For instance, in September 2023, Panasonic Life Solutions India -launched new innovative NPM-G Series surface mount technology (SMT) machines, NPM-GH and NPM-GP, for Indian manufacturers. The new NPM-GH modular mounter and the NPM-GP screen printing machines mark a significant step toward realizing the concept of "Autonomous Factory" operations.

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The global surface mount technology market is segmented on equipment, components, and end users. Based on the equipment, the market is sub-segmented into placement equipment, inspection equipment, coating equipment, solder equipment, cleaning equipment, screen printing equipment, and others (stencils, rework, and repair equipment). Based on the components, the market is sub-segmented into transistors & diodes, integrated circuits, and chip resistors. Further, based on end users, the market is sub-segmented into telecommunication, consumer electronics, automotive, aerospace & defense, pharmaceutical and medical devices, energy, and power systems, industrial (industrial automation and motion control, mechatronics and robotics, power electronics and photovoltaics systems) and others (printing, paper, and pulp). Among the equipment, the solder equipment sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of surface mount soldering for the most efficient and cost-effective process for the production of printed circuit boards.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global 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)

Global Surface Mount Technology Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global surface mount technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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