Surface Mount Technology Equipment Market 2021 Industry Size, Share, Growth Prospects, Key Development Areas, Financial Overview, Future Opportunities and Forecast by 2022

Research Reports

Jan 27, 2021

Market Research Future published a research report on “Surface Mount Technology Equipment Market Research Report – Global Forecast till 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Market Overview

The global surface mount technology equipment market is on an upward growth trajectory and is expected to reach USD 4 Bn by the end of the forecast period of 2016-2022, reveals Market Research Future (MRFR) in a minutely analyzed research report. The market has been observing persistent growth on account of the ever increasing demand for smart gadgets and need for miniaturization of products and higher accuracy. Rapid replacement of the traditional through-hole method by surface mount technology is a growing trend in various countries which is propelling the market growth. Surface mount technology equipment finds its application over different industry verticals which include automotive, consumer electronics, healthcare, aerospace, and others which boosts the market growth primarily. The automotive industry is one of the most significant end users of the surface mount technology equipment. Electric cars generally have a high number of electric components as compared to traditional vehicles and surface mount technology equipment are very efficient in handling the complex electronics components without any malfunction. Thus, the growing automotive industry and rising production of electric vehicles augment the growth of the market. High usage of surface mount technology in consumer electronics owing to need for miniaturization and growth in the electronics industry fosters the market growth. Escalating need for printed circuit boards in smartphones and the smart card industry reflects positively on the growth of the market. On the downside, the high cost of Surface Mount Technology Equipment is restraining the market growth. Moreover, surface mount technology equipment is not suitable for high power or high voltage parts such as power circuit which too acts as a limiting factor. All of these factors in conjunction will help the market capture a CAGR of 8% over the forecast period.

Competitive Landscape

Mycronic AB (Sweden), CyberOptics Corporation (U.S.), Fuji Machine Manufacturing Co., Ltd.(Japan), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), Hitachi High-Technologies Corporation (Japan), and Assembly Systems (Germany) are some reputed players that are operating in the surface mount technology global market, listed by MRFR.

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Segmentation

The global surface mount technology market has been segmented based on equipment, end user industries, and components. By equipment, the market has been segmented into Pick and place, Coating equipment, Solder equipment, Cleaning agents, and Rework and repair equipment. By end use industries, the market has been segmented into telecommunication, consumer electronics, automotive and medical. By components, the market has been segmented into passive surface mount devices, transistor & diodes, and integrated circuits.

Regional Analysis

In North America, the surface mount technology equipment market can thrive due to the increased application of Electric cars. These cars used a greater number of electric components over traditional vehicles, thus increased sales of surface mount technology equipment can win high profits for the market in the years to come. The high degree of efficacy offered by surface mount technology in handling components that are complex and prevent malfunction can support the expansion of the surface mount technology in the years to come. In Europe, the growing automotive field and escalated production of electric vehicles can cause augmentation of the regional market in the years ahead. The rise in usage of surface mount technology across the booming consumer electronics due to high need for miniaturized solutions by different consumers can support the expansion of EU surface technology market. In APAC, the rise in demand for printed circuit boards due to their increased installation in smartphones and smart cards reflects the positive impact of regional market. On the contrary, the surge in surface mount technology equipment cost can restrain the rise of the regional market. In addition, the incompatibility of surface mount technology equipment with high power and high voltage availing power circuit can limit the expansion of the regional market.

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