Surface Mount Technology Market Size Estimated to Observe Significant Growth by 2025
Surface Mount Technology Market: Drivers and Restraints
Global Surface Mount Technology market is expected to grow rapidly during the forecast period. Factors which are driving the growth of global Surface Mount Technology market are growing electronics industry, increasing use of flexible materials printed circuit boards, increasing mass production of electronics hardware devices and rising miniaturization trend & need for mounting electrical & mechanical components. On the other hand factors which are restraining the growth of global surface mount technology market are high cost of surface mount equipment system, surface mount technology is unsuitable for high power or high voltage parts such as power circuitry.
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Surface Mount Technology Market: Segmentation
Global surface mount technology market is segmented on the basis of application, equipment, component and region. By application the global surface mount technology market can be segmented into telecommunication, consumer appliances, automotive, medical, defence & aerospace and Industrial sectors. Out of all these applications, global surface mount technology continuous to encourage the demand of telecommunication, consumer appliances and computing sector. However the market is expected to witness significant opportunity during forecast period for specific applications such as automotive, medical and defence.
By equipment, the global surface mount technology market can be segmented into screen print equipment, soldering equipment, placement equipment, inspection equipment, cleaning equipment, and repair and rework equipment. Out of all these equipment’s, screen print equipment market is expected to grow rapidly during the period of forecast. Surface mount technology equipment manufacturers are focusing on diversification of product offerings. Increasing demand of high quality SMT equipment from contract manufacturers and original equipment manufacturers expected to benefit the growth of surface mount technology market.
By component, global surface mount technology market can be segmented into passive surface mount devices, transistor & diodes and integrated circuits. Passive surface mount devices are available in range of package sizes. Though, majority of passive surface mount devices are either resistor or capacitors for which package sizes are relatively standardised. Transistors & diodes are often enclosed in a small plastic package. For integrated circuits variety of packages are used. The package used for integrated circuit is dependable on level of interconnectivity required.
By region, the global surface mount technology market can be segmented into seven regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan as separate region and Middle East & Africa. Out of all this region, Asia Pacific region is expected to grow rapidly during the period of forecast because of booming electronic contract manufacturing into this region. Additionally, rapid growth of industrialization, GDP growth and growing infrastructural development into this region offers great growth prospects for the growth of surface mount technology market. Latin America region is expected to be second fastest growing market, followed by Asia Pacific region. Western Europe market is affected severely due to volatile economic conditions. However European government started focusing on development of hardware & manufacturing industry by supporting innovative start-ups and electronic manufacturing clusters in the region.
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Surface Mount Technology Market: Key Players
Key market players in global surface mount technology are ASM Assembly Systems GmbH & Co. KG, CyberOptics®, FUJI MACHINE MFG. CO., LTD., Juki Corporation, Hitachi High Technologies Corporation, Nikon Metrology NV Tioga Limited, Allen Organ Company LLC., Omron Corporation and Panasonic Corporation. Key players are primarily focusing on research & development activity in order to develop innovative technology.
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