SMT Equipment Market to be Worth US$ 9,025.3 Million by 2030
Reports and Insights has published a new report titled, “SMT Equipment Market: Opportunity Analysis and Future Assessment 2022-2030”
Global SMT Equipment Market, By Equipment Type (Inspection Equipment, Placement Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Others), By Component (Passive Surface-Mount Devices, Transistor & Diodes, Integrated Circuits), By Application (Consumer Electronics, Telecommunication, Aerospace & Defense, Automotive, Medical, Industrial, Energy and Power Systems) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The SMT equipment market is estimated to reach at a value of US$ 6,219.8 Mn by the end of 2022 and expected to reach at a value of US$ 9,025.3 Mn by 2030 with a significant CAGR of 4.8%.
In today’s digital age, electronic devices have entered across numerous industries and applications all around the world, scaling from smartphones to industrial electronics and to defense electronic devices. These electronic devices are developed in different forms, shapes, and sizes and are manufactured in accordance with the application needs. And therefore, the manufacturing lifespan of an electronic device journeys through the complete surface mount technology (SMT) equipment from being a printed circuit board to an accomplished electronic device.
Surface mount technology is basically an approach through which an electronic circuit is developed. And it is significant to note that, in present times, all the mass manufactured electronics hardware is developed by using surface mount technology. Owing to which, the surface-mount technology is witnessing higher demand all across the world.
In addition to that, the ramped-up demand for miniaturized consumer electronics products with lesser costs of configuration and excellent performance along with the increased manufacturing of ventilators, medical devices, and other critical equipment, worldwide, is further projected to boost the demand of surface-mount technology across the global markets.
Moreover, the growing application of surface-mount technology across various industries all across the world including telecom, consumer electronics, automotive, and other sectors is further estimated to offer major breakthroughs to the market growth in the following years.
However, the increased investment price of the machinery for installing and setting up production units along with the rise in the frequency and the demand for thermal management is estimated to slow down the growth of the global surface mount technology (SMT) equipment market over the forecast period.
Reports and Insights Study identifies some of the key participating players in the SMT equipment market globally are FUJI CORPORATION, Hitachi, Ltd., Mycronic Nordson Corporation, Panasonic Corporation, JUTZE Intelligence Technology Co.,Ltd., CyberOptics, Electro Scientific Industries, Inc., JUKI CORPORATION, Viscom AG, ASM Assembly Systems GmbH & Co. KG, ASML Holding, Hangzhou Neoden Technology Co.,Ltd., KLA Corporation, KOH YOUNG TECHNOLOGY Inc., MIRTEC CO., LTD., OMRON Corporation, PARMI, Test Research, Inc., Yamaha Motor Co., Ltd., GLENBROOK TECHNOLOGIES, Heller Industries, Inc., Illinois Tool Works Inc., Naprotek, LLC, SAKI CORPORATION, Nikon Metrology NV, Teradyne Inc., Universal Instruments Corporation, YXLON International, and among others.
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