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Surface Mount Technology Equipment Market Set to Grow at 5.9% CAGR, Reaching USD 9.1 Billion by 2031
Surface Mount Technology Equipment Market
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Market Overview
Surface mount technology equipment encompasses the machines and tools that place, solder, inspect, and clean components on printed circuit boards (PCBs) in high-volume electronics manufacturing. Key segments include pick-and-place (placement) machines, solder paste printers, reflow ovens, inspection systems, screen printers, and cleaning equipment. In 2022, placement equipment led the market, accounting for 31.0% of total revenue, driven by its ability to handle miniature components with micron-level precision and high throughput. From consumer electronics to aerospace and automotive applications, SMT equipment is now the industry standard for efficient, high-precision PCB assembly.
Market Drivers & Trends
PCB Demand in Consumer Electronics: Smartphones, laptops, IoT devices, wearable gadgets, and industrial electronics all rely on PCBs. Growth in these end‐use sectors particularly in emerging markets has been a primary driver for SMT equipment adoption.
Miniaturization and High Component Density: As devices shrink and integrate more functionality, assembly equipment must place increasingly fine-pitch components. Advanced placement machines meet this requirement, fueling market expansion.
LED Lighting Manufacturing: The shift toward energy‐efficient LED lighting has prompted LED manufacturers to deploy SMT lines for packaging dies, boosting demand for specialized soldering and inspection equipment.
Automation and Industry 4.0: Integration of robotics, machine vision, and data analytics into SMT lines enhances yield, reduces defects, and enables predictive maintenance. This trend toward "smart factories" is reshaping buyer preferences and supplier offerings.
Sustainability Regulations: Stricter environmental standards and the move away from lead-based solders are driving equipment upgrades and R&D in lead‐free soldering processes.
Key Players
ASM Assembly Systems GmbH & Co. Kg
Cyberoptics Corporation
Electro Scientific Industries, Inc.
Fuji Corporation
Hitachi High-Technologies Corporation
Juki Corporation
Mycronic AB
Nordson (asymtek) Corporation
Orbotech Ltd.
Viscom AG
Panasonic Corporation
Yamaha Motor Co., Ltd.
Hanwha Group
These companies compete on machine speed, placement accuracy, ease of use, and after‐sales support. Recent mergers, partnerships, and product launches underscore the intense competition to meet evolving customer demands.
Recent Developments
July 2023 - Juki LX‐8 Launch: Juki introduced the LX‐8 advanced flexible mounter, capable of handling components from 01005 packages to large connectors, with cycle times under two seconds per placement.
February 2022 - FUJI-Saki Partnership: Fuji Corporation partnered with Saki Corporation to integrate job data conversion between Fuji mounters and Saki's 3D AOI systems, streamlining component data flow and reducing setup times.
2024 - ASM Industry 4.0 Suite: ASM rolled out a cloud‐based analytics platform that aggregates real‐time performance data across SMT lines, enabling predictive maintenance and yield optimization.
2025 - Orbotech AI‐Driven Inspection: Orbotech Ltd. launched an AI‐powered AOI system that leverages deep learning to detect subtle solder joint anomalies, reducing false‐reject rates by over 30%.
Latest Market Trends
High‐Mix, Low‐Volume Production: With product life cycles shortening, manufacturers demand SMT lines that can switch between product variants quickly, driving modular, flexible system designs.
Embedded Component Placement: Advanced systems now place embedded passives and active devices within PCB laminates, opening new design possibilities for miniaturized IoT modules.
Digital Twin Simulation: Virtual modeling of SMT lines allows engineers to optimize throughput and predict bottlenecks before physical deployment.
Collaborative Robots (Cobots): Integrating cobots into SMT lines for material handling and machine tending enhances safety and simplifies human‐machine interaction.
Market Opportunities
Emerging Economies: Rapid industrialization and rising disposable incomes in Southeast Asia, Latin America, and Eastern Europe present untapped demand for mid‐range SMT equipment.
Automotive Electronics: Electric vehicles (EVs), advanced driver‐assistance systems (ADAS), and infotainment modules require reliable, high‐precision PCBs, creating new application niches.
Medical Devices: The shift toward home health monitoring devices and wearable sensors is fueling demand for compact SMT lines capable of handling specialized biocompatible components.
5G Infrastructure: Rollout of 5G base stations and user equipment with multi‐layer, high‐frequency PCBs demands state‐of‐the‐art soldering and inspection solutions.
Future Outlook
Analysts predict sustained growth through 2031, supported by ongoing automation, digitalization, and miniaturization trends. Key success factors for equipment suppliers will include:
R&D Investment: Developing next‐generation machines with faster changeover, higher placement accuracy, and integrated inspection.
Services & Support: Offering end‐to‐end solutions from line design and installation to maintenance contracts and spare parts availability.
Partnerships & Alliances: Collaborating with software providers, component manufacturers, and research institutions to co‐innovate and capture cross‐industry opportunities.
Market Segmentation
The report breaks down the SMT equipment market by:
Equipment Type: Inspection, placement, soldering, screen printing, cleaning, and others.
Component: Passive surface‐mount devices, transistors & diodes, integrated circuits.
Application: Consumer electronics, telecommunication, aerospace & defense, automotive, medical, industrial, energy & power systems.
This granular segmentation enables stakeholders to identify high‐growth niches and tailor their strategies accordingly.
Regions Covered
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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Comprehensive Analysis: In‐depth coverage of market drivers, restraints, challenges, and opportunities across all segments and regions.
Competitive Benchmarking: Detailed profiles of leading players, market share analysis, and strategic roadmaps.
Data‐Driven Insights: Historical data (2017-2021), base‐year statistics (2022), and forecast (2023-2031) in both value (US$ Bn) and volume (million units).
Actionable Recommendations: Expert guidance on technology investments, go‐to‐market strategies, and partnership opportunities.
Flexible Formats: Available as electronic PDF and raw Excel data for customizable analysis.
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