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The surface mount technology placement equipment market size is projected to increase by USD 896.5 million and to grow at a CAGR of 6.78% between 2023 and 2028. The market is experiencing a surge in demand for Printed Circuit Boards (PCBs), driven by the increasing use of technology in various sectors. This trend is further fueled by the shift towards flexible and responsive manufacturing methods, such as Agile and Lean, which prioritize customization and quick turnaround times. Additionally, the miniaturization of components in consumer electronics and the Internet of Things (IoT) revolution require intricately designed PCBs to accommodate smaller and more complex circuits. As a result, the PCB manufacturing industry must adapt to these changing market dynamics, investing in advanced technologies and processes to meet the evolving needs of their customers.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amistar Automation Inc: The company offers SMT placement equipment such as placeALL automated place SMT system.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The consumer electronics segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to advancements in technology and the increasing demand for efficient and lightweight electronic devices. This segment is particularly crucial for the manufacturing of consumer electronics, including LED and CFL lighting, LCD/LED monitors and televisions. The preference for smaller, more advanced devices is driving vendors to invest in surface mount technology (SMT) for assembly applications.
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The consumer electronics segment was the largest segment and valued at USD 750.10 million in 2018. Moreover, the smartphone industry's expansion, with its focus on upgrading substrate-like printed circuit boards (PCBs), system-in-package (SiP), and other components, is a significant market growth factor. SMT machinery is also essential for high-frequency applications, such as smart devices, smart homes, smart factories, telecommunications, computing and storage, and the aerospace and defense, medical, and industrial industries. SMT equipment includes automated production techniques, thermal management systems, and inspection equipment. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 47% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market encompasses a range of technologies essential for the assembly of electronic components in various devices. Key equipment include pick-and-place machines, solder paste printers, reflow ovens, and inspection systems. These technologies are integral to the manufacturing of smartphones, base stations, IoT sensors, wearables, IoT gadgets, automotive electronics, tablets, and smartwatches. With the advent of 5G technology, high-speed production and advanced packaging techniques are becoming increasingly important. Hence, such factors are driving the market in APAC during the forecast period.
The market is witnessing significant growth due to the increasing demand for electronic components in various industries, including consumer electronics and high-frequency applications. SMT (Surface Mount Technology) placement equipment is used to mount electronic components directly onto circuit boards using solder paste, eliminating the need for through-holes technology. This results in smaller, lighter, and more efficient electronic devices. SMT placement equipment is essential for manufacturing USB ports, HDMI connectors, fingerprint sensors, and other surface mount components used in smart televisions and other consumer electronics. Thermal management and cross-talk noise are critical challenges in SMT manufacturing, which are addressed through advanced technologies such as robotic placement and AI-driven quality control. Inductance interconnects are also gaining popularity in SMT applications due to their high-frequency capabilities.
Surge in demand for PCBs is notably driving market growth. The market is experiencing significant growth due to the increasing demand for Printed Circuit Boards (PCBs) in various industries, including consumer electronics, telecommunications, computing and storage, automotive, aerospace and defense, medical, and industrial.
Moreover, SMT equipment is essential for placing electronic components, such as passive and active components, on PCBs using surface mount connectors, without the use of through-holes technology. This results in reduced carbon footprint and improved production efficiency. Thus, such factors are driving the growth of the market during the forecast period.
Technological advances in product offerings is the key trend in the market. Advanced SMT placement equipment plays a crucial role in the electronics manufacturing industry by maximizing throughput and seamlessly integrating with other SMT machinery. Vendors are focusing on incorporating flexible and modular gantry systems and improved feeder systems to enhance productivity. Linear motors are utilized on the X and Y axes to ensure accuracy, speed, and increased servo-loop stiffness.
Moreover, high servo-loop gain is emphasized to increase axis acceleration and deceleration, reducing equipment heating and extending operational durations. SMT placement equipment is integrated with high-resolution verification cameras and fine adjustment systems for precise and quick component placement onto PCBs prior to soldering. Thus, such trends will shape the growth of the market during the forecast period.
High cost of deployment is the major challenge that affects the growth of the market. The market caters to the demand for automated assembly of electronic components on Printed Circuit Boards (PCBs), replacing traditional Through-holes technology. SMT machinery is essential for manufacturing various smart devices, consumer electronics, and high-frequency applications, including USB ports, HDMI connectors, and fingerprint sensors.
Moreover, the market is driven by the increasing production of smart televisions, smart homes, smart factories, telecommunications, computing and storage, and the aerospace and defense industries. SMT equipment utilizes advanced technologies such as high-frequency and thermal management systems, automated production techniques, and inspection equipment. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovatorâs stage to the laggardâs stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Market Customer Landscape
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The market is witnessing significant growth due to the increasing demand for electronic components in various industries such as telecommunications, computing and storage, consumer electronics, aerospace and defense, medical, and industrial sectors. The market is driven by the production of smart devices, smart homes, smart factories, and high-frequency applications. SMT equipment plays a crucial role in the manufacturing process of electronic devices, including surface mount connectors, USB ports, HDMI connectors, and circuit boards. The reflow soldering process and solder paste are essential components of SMT machinery. High-frequency applications require advanced thermal management and automated production techniques to minimize cross-talk noise and inductance interconnects. Fingerprint sensors, smart televisions, and other advanced electronic components are driving the demand for inspection equipment in the SMT machinery market. Telecommunications and computing and storage industries are significant consumers of SMT equipment due to the high volume of production and the need for high-precision placement.
Moreover, the market for SMT machinery is expected to grow significantly due to the increasing adoption of automated production techniques, AI-driven quality control, and the need for reducing carbon footprint in the manufacturing process. The market is also witnessing the emergence of new technologies such as 5G and IoT, which are expected to create new opportunities for SMT equipment manufacturers. The market for SMT machinery is segmented into various categories, including passive components, active components, designing, test and prototyping, supply chain services, and aftermarket services. The market is expected to grow at a CAGR of over 7% during the forecast period. The market is highly competitive, with key players including Panasonic, Juki, SMT Schunk, and Fuji Electric.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 896.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
China, Germany, US, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amistar Automation Inc., ASMPT Ltd., Autotronik SMT GmbH, Beijing Torch Co. Ltd., DDM Novastar Inc., Europlacer Ltd., FRITSCH GmBH, FUJI Corp., Hanwha Corp., Juki Corp., Kulicke and Soffa Industries Inc., Mirae Corp., Mycronic AB, Nordson Corp., Panasonic Holdings Corp., SMTnet, SumiLax SMT Technologies Pvt Ltd, Universal Instruments Corp., Versatec LLC, and Yamaha Motor Co. Ltd. |
Market dynamics |
Parent market analysis, market trends and analysis, market growth and forecasting, market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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