Press release
Global Surface Mount Technology Market 2024 - Unlocking Growth Potential, Leading Regions, Anticipated Trends, Projected Revenue, and 2033 Forecast
Global Surface Mount Technology Market
The Business Research Company offers in-depth market insights through Surface Mount Technology Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The surface mount technology market size has grown rapidly in recent years. It will grow from $5.23 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to miniaturization of electronic devices, advancements in component packaging, increased efficiency in mass production, higher component density, improved electrical performance.
The surface mount technology market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rise of Internet of things (IoT), flexible and wearable electronics, increased adoption of advanced materials, integration of artificial intelligence (AI), electric vehicle (EV) manufacturing. Major trends in the forecast period include advancements in package-on-package (PoP) technology, 5G technology implementation, technological advancements in pick-and-place systems, rise of smart manufacturing and industry 4.0, lead-free soldering technologies.
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Market Segmentation:
The surface mount technology market covered in this report is segmented -
1) By Equipment: Placement, Inspection, Coating Equipment, Solder Equipment, Cleaning Agents, Rework And Repair Equipment
2) By Components: Transistor And Diodes, Integrated Circuits
3) By Industry Vertical: Telecommunication, Consumer electronics, Automotive, Aerospace And Defense, Healthcare
Major Driver - Surface Mount Technology Market Accelerates With EV Sales Surge
Increasing electric car sales is significantly contributing to the growth of the surface mount technology market going forward. An electric car refers to a vehicle that is powered totally or partially by electricity from a battery that must be recharged. In electric vehicles, surface-mount technology (SMT) is used to install electrical components directly onto the surface of a printed circuit board (PCB). SMT provides greater mechanical durability under stress and vibration, which is critical in the automobile sector. For instance, according to April 2023 report published by the International Energy Agency, a France-based intergovernmental organization that provides policy recommendations, analysis, and data on the entire global energy sector, the global sales of electric vehicles are expected to grow from 10 million in 2022 to 14 million in 2023. Therefore, the increasing electric car sales will drive the surface mount technology market.
Competitive Landscape:
Major companies operating in the surface mount technology market report are Hitachi High-Technologies Corporation, Panasonic Holdings Corporation, Assembleon Automation Hanwha Group, Fuji Corporation, Yamaha Motor Co Ltd, Nordson Corporation, Kulicke and Soffa Industries Inc., Speedline Technologies, ASM Assembly Systems GmbH & Co KG, Universal Instruments, Rayming Technology, Essemtec AG, CyberOptics Corporation, Juki Corporation, Aurotek Corporation, Electro Scientific Industries Inc., GPD Global, Europlacer, Koh Young Technology Inc., Electronic Manufacturing Services Group Inc., Viscom AG, Mycronic AB, SSM MYDATA Services, Zhejiang Neoden Technology Co Ltd, Kasdon Electronics Limited, Saki Corporation, DDM Novastar, Onetech Smt Solutions Private Limited
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Top Trend - Surface Mounter For Enhanced Productivity And Reliable Services
Major companies operating in the surface mount technology market are developing innovative products with advanced technologies such as surface mounter, to provider reliable services to customers. A surface mounter is a machine used to automatically place surface-mount devices (SMDs) onto printed circuit boards (PCBs). For instance, in February 2023, Yamaha Motor, a Japan-based mobility manufacturer, launched a new YRM20DL surface mounter, a premium high-efficiency modular that achieves improved actual and per-unit area productivity. It is a dual-lane modular system that reduces transport and head standby loss, as well as improving productivity.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Surface Mount Technology Market Characteristics
3. Surface Mount Technology Market Trends And Strategies
4. Surface Mount Technology Market - Macro Economic Scenario
5. Surface Mount Technology Market Size And Growth
…..
27. Surface Mount Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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