APAC to Hold the Largest Share of the Surface Mount Technology Equipment Market during 2023-2032

Pune, India, August, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Solid-State Drives Market Research Report.

The global surface mount technology equipment market is on an upward growth trajectory and is expected to reach USD 14.7 Billion by the end of the forecast period of 2023-2032, 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 9.50% over the forecast period.

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

The global surface mount technology equipment market spans across the regions of Asia Pacific, North America, Europe and Rest of the World. Asia Pacific is at the forefront of the global market. Countries such as China, India, and Japan are leading the market owing to the abundance of skilled labor in the region and the growing penetration of high tech devices which require miniaturization. Also, high demand for consumer electronics from the populous countries of India and China also boost the market growth

Competitive Landscape

The notable players in the global surface mount technology market include CyberOptics Corporation (U.S.), Mycronic AB (Sweden), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), Fuji Machine Manufacturing Co., Ltd.(Japan), Assembly Systems (Germany), and Hitachi High-Technologies Corporation (Japan).

Industry Updates

• In July 2018, Vishay Intertechnology, Inc., introduced two new series of surface mount automotive Grade power LEDs. The LEDs are ideal for automotive interior and exterior lighting, traffic signals and signs, LCD switches and for general use.

• In July 2018, Calgary-based Blackline Safety Corp. announced an investment of USD 1 Million in surface mount technology equipment. The investment will allow the company to reduce their overall costs for which they have expanded their premises.