Surface Mount Technology Equipment Market Research Report - Forecast 2032

Surface Mount Technology Equipment Market Research Report Information By Equipment (Pick and Place, Coating Equipment, Solder Equipment, Cleaning Agents, Rework and Repair Equipment), By Components (Transistors & Diodes, And Integrated Circuits), By End-User (Telecommunication, Consumer Electronics, Automotive, And Medical) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/SEM/1650-HCR | 100 Pages | Author: Aarti Dhapte | March 2024         

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Global Surface Mount Technology Equipment Market Overview:


Surface Mount Technology Equipment Market Size was valued at USD 6.5 Billion in 2022. The Surface Mount Technology Equipment market industry is projected to grow from USD 7.1 Billion in 2023 to USD 14.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032). Increased demand for miniature consumer electronics products and those highly used in home projects are the key market drivers enhancing the market growth.


Global Surface Mount Technology Equipment Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Surface Mount Technology Equipment Market Trends




  • Growing demand for miniaturized consumer electronics products is driving the market growth




Market CAGR for surface mount technology equipment is driven by the rising demand for miniaturized consumer electronics products. The consumer electronics industry is progressing, with technologies and innovations constantly coming, such as offering consumers advanced features, smart televisions, and fingerprint sensors in mobiles. The increasing need for miniaturized products has led to the expansion of smaller electronic components that occupy less area. When the hardware components of the devices, such as PCB, are small in size and can run smoothly while combined with various components. The SMT supports using and assembling much smaller components, facilitating a smaller, portable, lightweight electronic device. Smaller and thinner consumer electronic devices can be developed using SMT. It optimally allows a compact assembly of components on a PCB using the available space. It also makes the device lightweight since it does not have extra wiring and soldering, unlike the traditional through-hole technology.


Additionally, the lead and connections on surface mount technology (SMT) equipment are manageable using more conventional soldering irons and other tools; it may be utilized for some home projects. As a result, the market is seeing a rise in demand for surface mount technology (SMT) products.


Furthermore, factors including rising disposable income, population expansion, and fast urbanization have increased the demand for electronic gadgets, driving the Surface Mount Technology Equipment market revenue.


Surface Mount Technology Equipment Market Segment Insights:


Surface Mount Technology Equipment Equipment Insights


The Surface Mount Technology Equipment Market segmentation, based on equipment, includes pick and place, coating equipment, solder equipment, cleaning agents, and rework and repair equipment. The rework and repair equipment segment dominated the market, accounting for the maximum market revenue due to consumer demand, recent technological advancements and rising urbanization.


Surface Mount Technology Equipment Components Insights


The global surface mount technology equipment segmentation, based on components, includes transistors & diodes and integrated circuits. The integrated circuits segment has dominated the market due to the rising consumption of consumer electronics. Moreover, the development of artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), technologies are offering new opportunities for market growth. These technologies aid memory chips in handling large amounts of data in less time. The rising demand for faster and more advanced memory chip industrial applications will also drive the integrated circuits segment growth in the projected period.


Figure 1: Surface Mount Technology Equipment Market, by Components 2022 & 2032 (USD Billion)


Surface Mount Technology Equipment Market, by Components 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Surface Mount Technology Equipment End-User Insights


The Surface Mount Technology Equipment Market segmentation, based on end-user, includes telecommunication, consumer electronics, automotive, and medical. The consumer electronics segment generates the most income due to its advantage over conventional through-hole technology, including smaller form factors, quicker production schedules, and higher efficiency; SMT is frequently employed in manufacturing consumer electronics. SMT is also widely employed in producing smart wearables, television, game consoles, and home appliances. Manufacturers can create more portable, lightweight products because of the compact form factor of SMT components. SMT is also effective, making it possible to produce consumer electronics quickly and in large quantities. Automated assembly lines can process large PCBs, allowing businesses to mass-produce consumer devices.


Surface Mount Technology Equipment Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Surface Mount Technology Equipment market will dominate this market, owing to increased demand for consumer electronics. In addition, the growing range of high-performance inter-connected devices and other related technologies has also been driven by the need for digital streaming content, which will boost the market growth in this region.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: Surface Mount Technology Equipment Market SHARE BY REGION 2022 (USD Billion)


Surface Mount Technology Equipment Market SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Surface Mount Technology Equipment market accounts for the second-largest market share due to the development of the hardware and manufacturing sector by supporting innovative start-ups. Further, the German Surface Mount Technology Equipment market held the largest market share, and the UK Surface Mount Technology Equipment market was the fastest-growing market in the European region.


The Asia-Pacific Surface Mount Technology Equipment Market is expected to grow at the fastest CAGR from 2023 to 2032 due to several PCB production facilities in the region. Moreover, China’s Surface Mount Technology Equipment market held the largest market share, and the Indian Surface Mount Technology Equipment market was the fastest-growing market in the Asia-Pacific region.


Surface Mount Technology Equipment Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Surface Mount Technology Equipment market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Surface Mount Technology Equipment industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Surface Mount Technology Equipment industry to benefit clients and increase the market sector. In recent years, the Surface Mount Technology Equipment industry has offered some of the most significant advantages to technology. Major players in the Surface Mount Technology Equipment market, including CyberOptics Corporation (US), Keystone Electronics (NewYork), Orbotech Ltd. (Israel), Mycronic AB (Sweden), Hitachi High-Technologies Corporation (Japan), Nordson Corporation (US), Fuji Machine Manufacturing Co. Ltd. (Japan), Assembly Systems (Germany), and others, are attempting to increase market demand by investing in research and development operations.


Keystone Electronics has been producing high-precision electronic parts and hardware and supplying them to businesses worldwide. Modern electronic devices, instruments, and systems are developed and designed by OEM Designers and Engineers to use products from our Product Design Guide M70. While the products meet the most common criteria in our Dynamic Catalogue, alterations and custom fabrications can be produced to satisfy your unique specifications. Our Custom Manufacturing Division’s strengths include design and engineering, precision tool and die capabilities, machining and assembly, close tolerance stamping, computer-based quality control, and attentive customer support. These essential internal resources make up our Custom Manufacturing Division. For Instance: In October 2022, Keystone Electronics introduced metric and inch-threaded variations of its ultra-flat surface mount thread inserts. The surface mount inserts are now offered in inch thread (2-56, 4-40, and 6-32) or metric thread (M 2.5, M3, and M4). Tin-coated steel thread inserts may be added to printed circuit boards easily and quickly thanks to the unique packaging and design.


Yamaha Motor Co. Ltd. is a multinational Japanese company that produces motorized items, including boats, outboard motors, and motorbikes. Its headquarters are in Iwata, Shizuoka, Japan. As of 2012, the business operated its development, production, and marketing activities through 109 consolidated subsidiaries. For Instance: February 2023, Yamaha Motors announced the release of the brand-new YRM20DL surface mounter. This premium, highly effective modular achieves increased productivity per unit area with a twin-lane conveyor, lowering transport losses.


Key Companies in the Surface Mount Technology Equipment market include




  • CyberOptics Corporation (US)




  • Keystone Electronics (NewYork)




  • Orbotech Ltd. (Israel)




  • Mycronic AB (Sweden)




  • Hitachi High-Technologies Corporation (Japan)




  • Nordson Corporation (US)




  • Fuji Machine Manufacturing Co. Ltd. (Japan)




  • Assembly Systems (Germany)




Surface Mount Technology Equipment Industry Developments


May 2022:Summit Interconnect acquired Royal Circuit Solutions and Affiliates. Summit is now among North America's largest privately held printed circuit board (PCB) producers due to the merger, which increased their footprint by eight production sites and increased the region’s demand for SMT. The acquisition significantly widens Summit’s product line while expanding the company’s client and end market base.


December 2022:Linx Technologies (Linx), a developer and manufacturer of antennas and connectors, now a division of TE Connectivity, adds to its line of Splatch antennas with the introduction of a new surface-mount embedded GNSS antenna that supports GPS, Galileo, GLONASS, Beidou, and QZSS systems in the L1/E1/B1 bands. By including a global navigation satellite system (GNSS), Linx’s new linear GNSS antenna complements its already substantial embedded PCB antenna range, which includes client favorites like the Usp410, the SP610, and the Nsp250.


November 2022:Cicor strengthened its presence in Germany by acquiring the Phoenix Mecano Digital Tunisie and Phoenix Mecano Digital Elektronik.


Surface Mount Technology Equipment Market Segmentation:


Surface Mount Technology Equipment Equipment Outlook




  • Pick and Place




  • Coating Equipment




  • Solder Equipment




  • Cleaning Agents




  • Rework and Repair Equipment




Surface Mount Technology Equipment Components Outlook


  • Transistor & Diodes




  • Integrated Circuits




Surface Mount Technology Equipment End-User Outlook


  • Telecommunication




  • Consumer Electronics




  • Automotive




  • Medical




Surface Mount Technology Equipment Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 6.5 Billion
Market Size 2023 USD 7.1 Billion
Market Size 2032 USD 14.7 Billion
Compound Annual Growth Rate (CAGR) 9.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Equipment, Components, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  CyberOptics Corporation (US), Keystone Electronics (NewYork), Orbotech Ltd. (Israel), Mycronic AB (Sweden), Hitachi High-Technologies Corporation (Japan), Nordson Corporation (US), Fuji Machine Manufacturing Co. Ltd. (Japan), Assembly Systems (Germany)
Key Market Opportunities Growing demand for smart devices Alexa and Cortana
Key Market Dynamics Increased demand for miniature consumer electronics products




Frequently Asked Questions (FAQ) :

The Surface Mount Technology Equipment Market size was valued at USD 6.5 Billion in 2022.

The global market is projected to grow at a CAGR of 9.50% during the forecast period, 2023-2032.

The key players in the market are CyberOptics Corporation (US), Keystone Electronics (NewYork), Orbotech Ltd. (Israel), Mycronic AB (Sweden), Hitachi High-Technologies Corporation (Japan), Nordson Corporation (US), Fuji Machine Manufacturing Co. Ltd. (Japan), Assembly Systems (Germany).

The rework and repair category dominated the market in 2022.

Consumer electronics had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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