Surface Mount Technology Market: Major Trends Reshaping the Future of the Industry

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What Will the Surface Mount Technology Industry Market Size Be by 2025?
In recent times, the market size for surface mount technology has seen considerable growth. The market is projected to rise from $5.68 billion in 2024 to $6.11 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.6%. This growth during the historic period is a result of the miniaturization of electronic devices, advancement in component packaging, enhanced mass production efficiency, increased component density, and better electrical performance.

What's the Long-Term Growth Forecast for the Surface Mount Technology Market Size Through 2029?
In the coming years, robust growth is anticipated for the surface mount technology market, with projections pointing to a size of $8.69 billion by 2029 and a compound annual growth rate (CAGR) of 9.2%. This anticipated development can be linked to the emergence of the Internet of Things (IoT), the prevalence of flexible and wearable electronics, the growing use of cutting-edge materials, the incorporation of artificial intelligence (AI), and the creation of electric vehicles (EV). The forecast period will be marked by significant trends such as package-on-package (PoP) technology enhancement, implementation of 5G technology, technological evolution in pick-and-place systems, the rise of smart manufacturing and industry 4.0 and the establishment of lead-free soldering technologies.

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What Are the Key Growth Drivers Fueling the Surface Mount Technology Market Expansion?
The surge in electric car purchases is a significant factor in the upswing of the surface mount technology (SMT) industry. An electric car is a vehicle that primarily or entirely relies on electricity, which is supplied by a rechargeable battery. The usage of SMT in electric vehicles entails fitting electrical components directly onto a printed circuit board (PCB)'s surface. This enhances mechanical durability under stress and vibration, a crucial aspect in the automotive sector. For example, the International Energy Agency, a French intergovernmental organization that publishes data, analysis, and policy advice concerning the worldwide energy industry, reported in April 2023 that global electric vehicle sales are projected to rise from 10 million in 2022 to 14 million in 2023. Thus, the rising trend in electric car purchases is propelling the surface mount technology market.

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Which Emerging Trends Are Transforming the Surface Mount Technology Market in 2025?
Leading firms in the surface mount technology market are introducing innovative products equipped with advanced features, such as integration with the internet of things (IoT). This involves incorporating connectivity into electronic components, enabling enhanced communication and data transfer, thus improving the features and monitoring abilities of the device. For instance, Linx Technologies, a subdivision of TE Connectivity unveiled a surface-mount embedded GNSS antenna called ANT-GNL1-nSP in December 2022. This antenna supports L1/E1/B1 bands of GPS, Galileo, GLONASS, Beidou, and QZSS. It showcases exceptional performance in a small size of 9.6mm x 8.4mm x 0.9mm, boasts of linear polarization and an omnidirectional radiation pattern. This antenna, suitable for reflow-solder mounting, is particularly ideal for compact devices in the expanding IoT market.

How Is the Surface Mount Technology Market Segmented?
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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Which Companies Are Leading the Charge in Surface Mount Technology Market Innovation?
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 Regions Are Leading the Global Surface Mount Technology Market in Revenue?
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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