Surface Mount Technology Market by Equipment (Placement, Inspection, Soldering, Screen Printing, Cleaning, Repair & Rework), Application (Consumer Electronics, Automotive, Aerospace & Defense), and Geography - Global Forecast to 2022
“Surface mount technology market expected to exhibit significant growth potential between 2017 and 2022”
The surface mount technology (SMT) market is expected to grow at a CAGR of 8.9% between 2017 and 2022 to reach USD 5.42 billion by 2022. The key driving factors for the growth of the surface mount technology market are the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market. However, the factors such as high investment cost for setting up of production units, and the high frequency and need for thermal management are the major factors restraining the growth of this market.
“Placement equipment expected to hold a major share of the surface mount technology market during the forecast period”
Placement equipment is expected to hold a major share of the market by 2022. Placement equipment is one of the most important parts of SMT manufacturing since it places the components reliably and accurately enough to meet the output requirements in an optimized manner. The SMT placement equipment with full component feeders accounted for about 50% of the total capital investment which is required for a medium-volume SMT manufacturing line.
“Market for consumer electronics expected to grow at the highest rate between 2017 and 2022”
The consumer electronics market is expected to grow at the highest rate between 2017 and 2022. The growing trend of miniaturization in consumer electronics, higher production speed, introduction of new products on a continuous basis, and increasing spending budgets on consumer electronics are the factors fuelling the growth of the SMT technology in the consumer electronics industry.
“Surface mount technology market in APAC expected to grow at the highest rate during the forecast period”
The surface mount technology market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The increasing wireless communication standards and the rising demand for 3G/4G networks are boosting the demand for SMT in the telecommunication sector in this region. China is one of the fastest-growing economies in the world, and its market for SMT is expected to grow primarily because of the vast number of SMT manufacturing companies.
The breakdown of the profiles of primary participants for the report has been given below:
By Company Type: Tier 1 = 42%, Tier 2= 33%, and Tier 3 = 25%
By Designation: C-Level Executives = 46%, Directors = 35%, and Others = 19%
By Region: North America = 49%, Europe = 24%, APAC = 21%, and RoW = 6%
The key players in the surface mount technology market include Fuji Machine Manufacturing Co., Ltd.(Japan), Hitachi High-Technologies Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), ASM Assembly Systems GmbH & Co. KG (Germany), CyberOptics Corporation (U.S.), Electro Scientific Industries Inc. (Oregon), Juki Corporation (Japan), and Viscom AG (Germany).
The research report analyzes the surface mount technology market based on the following segments—equipment, application, and geography. The market has been segmented on the basis of equipment into screen print, soldering, placement, inspection, cleaning, and repairs & rework equipment. The report covers the market segmented on the basis of the following applications: consumer electronics, telecommunication, aerospace & defense, automotive, medical, industrial, and energy & power systems. The report also covers the market segmented on the basis of four major regions: North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on equipment, application, and geography have been provided to give an overall view of the surface mount technology market.
Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the surface mount technology market.
The major drivers, restraints, opportunities, and challenges for the surface mount technology market have been detailed in this report.
The report includes a detailed competitive landscape along with key players and their revenue.