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Surface Mount Technology Market Growth Analysis, Size, Research Report 2024-2033
Surface Mount Technology Market
As per the report, 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 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%.
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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.
Players Pioneer IOT Integration For Enhanced Electronic Components
Major companies operating in the surface mount technology market are developing innovative products with advanced technologies, such as internet of things (IoT) integration, which involves embedding connectivity features into electronic components, enabling seamless communication and data exchange for enhanced device functionality and monitoring capabilities. In December 2022, Linx Technologies, a part of TE Connectivity, launched the ANT-GNL1-nSP, a surface-mount embedded GNSS antenna. The antenna supports GPS, Galileo, GLONASS, Beidou, and QZSS in the L1/E1/B1 bands. It exhibits notable performance in a compact size of 9.6mm x 8.4mm x 0.9mm, features linear polarization, and has an omnidirectional radiation pattern. The antenna is designed for reflow-solder mounting and is especially well-suited for small devices in the growing internet of things market.
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
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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
Contents of the report:
1. Executive Summary
2. Surface Mount Technology Market Report Structure
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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