Press release
Which regions are leading in SMT placement equipment adoption?
SMT Placement Equipment Market
The global Surface Mount Technology (SMT) Placement Equipment Market is projected to grow at a robust CAGR of 10.9% from 2024 to 2030, reaching a market size of USD 1103.37 million by the end of the forecast period. This growth is fueled by the escalating demand for printed circuit boards (PCBs) across various industries, including telecommunications, consumer electronics, automotive, and medical devices.
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The telecommunications equipment segment is leading the SMT placement equipment market, thanks to growing telecommunications equipment expenditures, intensified competition, and the introduction of new products. Telecommunication equipment, one of the most prominent industries in India, will continue to contribute significantly to India's GDP in the coming years. The mobile revolution and adoption of technologies such as WiMax and VoIP are necessitating the original manufacturing of various telecom products such as handsets, base stations, modems, and VOIP phones, thus creating the demand for SMT equipment.
Competitive Landscape
Key players operating in the SMT placement equipment market include Air-Vac Engineering, Assembléon, Cognex Corporation, Conceptronic, CyberOptics Corporation, Dover Technologies, Electro Scientific Industries Inc., Fuji Machine Manufacturing Co., Ltd., Glenbrook Technologies Inc., Juki Automation Systems Inc., KLA-Tencor Corporation, Lixi Inc., Nordson Corporation, Orbotech Ltd., PPT Vision Inc., Teradyne Inc., Universal Instruments, Viasystems Group Inc., X-Tek Group Inc., and YXLON International GmbH.
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Regional Insights
Growth and Opportunity in the United States
North America, particularly the United States, held a significant share of the global SMT placement equipment market in 2023. The region's dominance is attributed to steady economic growth and a strong presence in electronics manufacturing and original design manufacturing businesses. The demand for SMT equipment is further enhanced by the need for highly reliable electronic components in critical applications across aerospace and defense sectors.
Trends and Consolidation in Asia Pacific
Asia Pacific accounted for the largest share of 42.8% in 2022, leading the global SMT placement equipment market. The region is at the forefront of the trend toward miniaturization and high component density in electronic devices. Countries like China, South Korea, Japan, and India are major contributors, with improved presence in electronics manufacturing and original design manufacturing businesses, enhancing the demand for SMT equipment.
Updation in the Middle East and Africa
The Middle East and Africa region is witnessing growth in the SMT placement equipment market, driven by the expansion of the telecommunications sector and increased investments in electronics manufacturing. Countries like South Africa, GCC nations, and Nigeria are focusing on developing their electronics industry, creating opportunities for SMT equipment providers.
Trends in Europe
Europe's SMT placement equipment market is experiencing growth due to advancements in automotive electronics and medical devices. Countries such as Germany, France, and the UK are investing in research and development, fostering innovation in SMT technology. The region's emphasis on high-quality manufacturing standards is also contributing to the increased adoption of SMT placement equipment.
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Market Segmentation: In-Depth Analysis:
by Type
High-Speed Type
Medium-Speed Type
by Application
Consumer Electronics
Medical
Automotive
Telecommunications Equipment
The global market for SMT placement equipment is divided into four segments based on the kind of equipment used: consumer electronics, medical, automotive, and telecommunications. Due to increased spending on telecommunications equipment, fiercer competition, and product introductions, the telecommunications equipment segment is now leading the SMT placement equipment market. In the upcoming years, one of India's most important businesses, telecommunications equipment, will continue to provide a substantial contribution to the country's GDP. SMT equipment is in high demand as a result of the mobile revolution and the uptake of technologies like WiMax and VoIP, which need the original production of a variety of telecom goods such handsets, base stations, modems, and VoIP phones.
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Market Key Players : In-Depth Analysis:
1. Air-Vac Engineering
2. Assembléon
3. Cognex Corporation
4. Conceptronic
5. CyberOptics Corporation
6. Dover Technologies
7. Electro Scientific Industries Inc.
8. Fuji Machine Manufacturing Co., Ltd.
9. Glenbrook Technologies Inc.
10. Juki Automation Systems Inc.
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