The Surface Mount Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Surface Mount Technology Global Market Report 2024, The surface mount technology market size has grown rapidly in recent years. It will grow from $5.23 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to miniaturization of electronic devices, advancements in component packaging, increased efficiency in mass production, higher component density, improved electrical performance.
The surface mount technology market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rise of Internet of things (IoT), flexible and wearable electronics, increased adoption of advanced materials, integration of artificial intelligence (AI), electric vehicle (EV) manufacturing. Major trends in the forecast period include advancements in package-on-package (PoP) technology, 5G technology implementation, technological advancements in pick-and-place systems, rise of smart manufacturing and industry 4.0, lead-free soldering technologies.
Increasing electric car sales is significantly contributing to the growth of the surface mount technology market going forward. An electric car refers to a vehicle that is powered totally or partially by electricity from a battery that must be recharged. In electric vehicles, surface-mount technology (SMT) is used to install electrical components directly onto the surface of a printed circuit board (PCB). SMT provides greater mechanical durability under stress and vibration, which is critical in the automobile sector. For instance, according to April 2023 report published by the International Energy Agency, a France-based intergovernmental organization that provides policy recommendations, analysis, and data on the entire global energy sector, the global sales of electric vehicles are expected to grow from 10 million in 2022 to 14 million in 2023. Therefore, the increasing electric car sales will drive the surface mount technology market.
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The surface mount technology market covered in this report is segmented –
1) By Equipment: Placement, Inspection, Coating Equipment, Solder Equipment, Cleaning Agents, Rework And Repair Equipment
2) By Components: Transistor And Diodes, Integrated Circuits
3) By Industry Vertical: Telecommunication, Consumer electronics, Automotive, Aerospace And Defense, Healthcare
Major companies operating in the surface mount technology market are developing innovative products with advanced technologies such as surface mounter, to provider reliable services to customers. A surface mounter is a machine used to automatically place surface-mount devices (SMDs) onto printed circuit boards (PCBs). For instance, in February 2023, Yamaha Motor, a Japan-based mobility manufacturer, launched a new YRM20DL surface mounter, a premium high-efficiency modular that achieves improved actual and per-unit area productivity. It is a dual-lane modular system that reduces transport and head standby loss, as well as improving productivity.
The surface mount technology market report table of contents includes:
1. Executive Summary
2. Surface Mount Technology Market Characteristics
3. Surface Mount Technology Market Trends And Strategies
4. Surface Mount Technology Market – Macro Economic Scenario
5. Global Surface Mount Technology Market Size and Growth
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26. South America Surface Mount Technology Market
27. Brazil Surface Mount Technology Market
28. Middle East Surface Mount Technology Market
29. Africa Surface Mount Technology Market
30. Surface Mount Technology Market Competitive Landscape And Company Profiles
Top Major Players:
- Hitachi High-Technologies Corporation
- Panasonic Holdings Corporation
- Assembleon Automation Hanwha Group
- Fuji Corporation
- Yamaha Motor Co Ltd
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