Dublin, April 11, 2023 (GLOBE NEWSWIRE) -- The "Global Surface Mount Technology (SMT) Market by Equipment (Placement, Inspection, Soldering, Screen Printing Equipment, Cleaning Equipment, Repair & Rework Equipment), Component, Service, End User and Geography - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The surface mount technology (SMT) market is projected to grow from USD 5.8 billion in 2023 to reach USD 8.4 billion by 2028; it is expected to grow at a CAGR of 7.8% during the forecast period. The major opportunities for the surface mount technology (SMT) market include the integration of biometrics and security into consumer electronics devices and medical devices.
Aerospace & defense is expected to have a significant CAGR of the surface mount technology (SMT) market during the forecast period
The aerospace and defense industry requires high-quality equipment that can deliver high performance and zero failure rate. Owing to factors such as better thermal dissipation, lighter weight, and smaller volume, surface mount technology (SMT) is replacing conventional through-hole technology in the aerospace and defense industry. Modern-day highly advanced aeronautic and defense equipment comprises electronic devices such as auto-pilot systems, radar, and flight simulation systems. Reduced component size, demand for high-density printed circuit boards, and increasing semiconductor and electronics manufacturing are driving the growth of the surface mount technology (SMT) market.
Screen printing equipment is expected to have a significant market size during the forecast period
Screen Printing equipment is used to print customized PCBs for surface mount technology. The primary factors that must be considered while selecting Screen Printing equipment include productivity, flexibility, cost-effectiveness, and usability. The screen-printing equipment is further segmented into three types: automatic, semiautomatic, and manual. Based on the degree of automation in this equipment, the cost associated with them increases.
North America is expected to grow with the second-highest CAGR during the forecast period
In North America, SMT assembly solutions, such as printing, placement, reflow, and board handling technologies, are used to achieve high quality and price performance in consumer electronics. The placement equipment segment in North America will grow significantly during the forecast period. The increasing demand for mobile and Internet-connected devices, consumer electronics, automotive, and telecommunications, coupled with the need for higher accuracy, product miniaturization, and improved speed, drives the growth of the SMT market for placement equipment.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the surface mount technology (SMT) market. Following is the breakup of the profiles of the primary participants for the report.
Market Dynamics
Drivers
- Increased Demand for Miniaturized Consumer Electronics Components
- Growing Adoption of Electric Vehicles (Evs)
- Rising Need to Increase Productivity of Electronic Manufacturing Services (Ems) Companies
Restraints
- Requirement for High Investments to Set Up Production Units
- Need for High-Frequency Applications and Thermal Management
Opportunities
- Integration of Biometrics and Security into Consumer Electronics and Medical Devices
- Advent of Self-Monitoring, Analysis, and Reporting Technology (Smart)
Challenges
- Emergence of New Assembly Techniques
- Challenges in Repair and Rework of Surface Mount Technology (SMT )-Manufactured Printed Circuit Boards (PCBS)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $5.8 Billion |
| Forecasted Market Value (USD) by 2028 | $8.4 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Surface Mount Technology (Smt) Market, by Equipment
6.1 Introduction
6.2 Inspection Equipment
6.3 Placement Equipment
6.4 Soldering Equipment
6.5 Screen Printing Equipment
6.6 Cleaning Equipment
6.7 Repair & Rework Equipment
7 Surface Mount Technology (Smt) Market, by Component
7.1 Introduction
7.2 Passive Components
7.3 Active Components
8 Surface Mount Technology (Smt) Market, by Service
8.1 Introduction
8.2 Designing
8.3 Test and Prototype
8.4 Supply Chain Services
8.5 Manufacturing
8.6 Aftermarket Services
9 Surface Mount Technology (Smt) Market, by End-User Industry
9.1 Introduction
9.2 Consumer Electronics
9.3 Telecommunications
9.4 Aerospace & Defense
9.5 Automotive
9.6 Medical
9.7 Industrial
9.8 Energy and Power Systems
10 Surface Mount Technology (Smt) Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- 4E Technology
- Abl Circuits
- Acd Digital Systems
- Altek Electronics
- Asm Assembly Systems
- Cirexx
- Ddm Novastar
- Europlacer
- Fuji Corporation
- Hitachi High-Technologies Corporation
- Juki Corporation
- Kasdon Electronics
- Kbc Electronics
- Kla Corporation
- Machine Vision Products
- Mirtec
- Mycronic Ab
- Neoden
- Nordson Corporation
- Ohmite Manufacturing
- Panasonic Corporation
- Saki Corporation
- Thermomegatech
- Viscom Ag
- Yamaha Motors
For more information about this report visit https://www.researchandmarkets.com/r/p3ezl5
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