Comprehensive 2025 Surface Mount Technology Market Overview: Trends, Forecasts, and Growth Drivers

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How Large Will the Surface Mount Technology Market Size By 2025?
There has been a marked growth in the size of the surface mount technology market in the past few years. It is expected to swell from $5.68 billion in 2024 to $6.21 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.4%. The observed growth in the historical phase could be traced back to the miniaturization of electronic gadgets, advancement in component packaging, boosted efficiency in mass production, an increase in component density, and enhanced electrical performance.

How Big Is the Surface Mount Technology Market Size Expected to Grow by 2029?
Anticipated to see significant expansion in the forthcoming years, the market size for surface mount technology is projected to reach $8.98 billion by 2029, with a compound annual growth rate (CAGR) of 9.7%. The predicted growth within the forecast period can be ascribed to several factors, such as the rise of the Internet of Things (IoT), the development of flexible and wearable electronics, the surge in use of advanced materials, the incorporation of artificial intelligence (AI), and the production of electric vehicles (EV). The forecast period will also witness key trends like the progress in package-on-package (PoP) technology, the introduction of 5G technology, enhancements in pick-and-place systems, the growing prominence of smart manufacturing and industry 4.0, and the use of lead-free soldering technologies.

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Which Key Market Drivers Powering Surface Mount Technology Market Expansion and Growth?
The surge in electric car purchases plays a significant role in propelling the growth of the surface mount technology market. An electric car is essentially a vehicle that relies partially or completely on electricity from a rechargeable battery. In these electric vehicles, surface-mount technology (SMT) is utilized to position electrical components directly onto the surface of a printed circuit board (PCB). The SMT reinforces the mechanical robustness under strain and vibrations, a crucial aspect in the automobile industry. As per a report published by the international Energy Agency, a France-based intergovernmental organization providing policy recommendations, analysis, and data on the global energy sector, in April 2023, the worldwide sales for electric vehicles are projected to rise from 10 million in 2022 to 14 million in 2023. Consequently, the escalating sales of electric cars will fuel the growth of the surface mount technology market.

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Which Fast-Growing Trends Are Poised to Disrupt the Surface Mount Technology Market?
Leading enterprises in the surface mount technology market are pioneering new products with cutting-edge technology, including internet of things (IoT) integration. This technology facilitates the incorporation of connectivity elements into electronic parts, promoting smooth communication and information transfer for improved device operations and monitoring. For example, in December 2022, Linx Technologies, a division of TE Connectivity, rolled out the ANT-GNL1-nSP, an embedded GNSS antenna for surface-mount applications. This antenna is compatible with GPS, Galileo, GLONASS, Beidou, and QZSS in the L1/E1/B1 bands, showcasing impressive performance in a tidy 9.6mm x 8.4mm x 0.9mm package. It features linear polarization, boasts an omnidirectional radiation pattern, and is geared for reflow-solder mounting. It is particularly useful for smaller devices within the expanding IoT market.

What Are the Emerging Segments in the Surface Mount Technology 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

Subsegments:
1) By Placement: Pick And Place Machines, Die Bonding Machines, Wire Bonding Machines
2) By Inspection: Automated Optical Inspection (AOI), X-Ray Inspection Systems, 3D Solder Paste Inspection
3) By Coating Equipment: Conformal Coating Machines, Dispensing Systems, Coating Application Equipment
4) By Solder Equipment: Reflow Ovens, Wave Soldering Machines, Selective Soldering Equipment
5) By Cleaning Agents: Solvent-Based Cleaners, Aqueous Cleaners, No-Clean Flux
6) By Rework And Repair Equipment: Soldering Stations, Desoldering Tools, Hot Air Rework Stations

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Who Are the Global Leaders in the Surface Mount Technology Market?
Major companies operating in the surface mount technology market include 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

Which are the Top Profitable Regional Markets for the Surface Mount Technology Industry?
Asia-Pacific was the largest region in the surface mount technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global surface mount technology market report during the forecast period. The regions covered in the surface mount technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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