What is the global market size of Surface Mount Technology Market?

Surface Mount Technology Market size was valued at USD 5.14 Billion in 2022 and is poised to grow from USD 5.73 billion in 2023 to USD 13.69 Billion by 2031, at a CAGR of 11.5% during the forecast period (2024-2031).

Who are the key vendors in the Global Surface Mount Technology Market?

The global surface mount technology (SMT) market is highly competitive, characterized by the presence of several key players. SMT is a vital process in the electronics manufacturing industry, enabling the assembly of electronic components directly onto the surface of printed circuit boards (PCBs). This technology offers various advantages, including smaller form factors, higher component density, and improved manufacturing efficiency. The competitive landscape of the global SMT market is shaped by factors such as technological advancements, product innovations, and customer preferences. Companies in this market constantly strive to enhance their product offerings and develop cutting-edge SMT equipment to meet the evolving demands of the electronics industry. The global SMT market is characterized by the presence of both established multinational corporations and smaller regional players. While larger companies enjoy the advantage of a wider customer base and extensive resources, smaller players often focus on niche markets, specialized solutions, and personalized customer service. The market's competitive dynamics are influenced by factors such as market consolidation, pricing strategies, and regional market conditions. 'ASM Pacific Technology Ltd. (Hong Kong)', 'Juki Corporation (Japan)', 'Fuji Machine Manufacturing Co., Ltd. (Japan)', 'Panasonic Corporation (Japan)', 'Mycronic AB (Sweden)', 'Nordson Corporation (US)', 'Universal Instruments Corporation (US)', 'Hitachi High-Technologies Corporation (Japan)', 'Koh Young Technology Inc. (South Korea)', 'Yamaha Motor Co., Ltd. (Japan)', 'ASML Holding N.V. (Netherlands)', 'Evest Corporation (Taiwan)', 'Hanwha Corporation (South Korea)', 'Omron Corporation (Japan)', 'Nordson DAGE (UK)', 'ITW EAE (US)', 'Viscom AG (Germany)', 'Europlacer Ltd. (UK)', 'Saki Corporation (Japan)', 'CyberOptics Corporation (US)'.

What is the key driver of Global Surface Mount Technology Market?

The global adoption of surface mount technology (SMT) has been fueled by its ability to facilitate the production of compact and lightweight electronic devices. Industries like automotive, aerospace, and medical devices have a growing demand for smaller and lighter designs. SMT's capability to accommodate complex circuits within limited space has made it a preferred choice across various sectors.

What is the key market trend for Global Surface Mount Technology Market?

The utilization of Surface Mount Technology (SMT) enables the creation of smaller passive component assemblies, leading to the development of portable and lightweight electrical devices. The ongoing trend of downsizing predominantly focuses on passive components such as resistors and capacitors. Component sizes like 01005 and 0201 (metric) with dimensions of 400 x 200 mm and 300 x 150 mm are being addressed to meet these requirements. Consequently, there is a growing demand for research and development to support the industry in effectively incorporating these miniature components into their product designs.

Which region accounted for the largest share in Global Surface Mount Technology Market?

Among the different regions, Asia Pacific has emerged as the most dominant region in the global surface mount technology market. This can be attributed to several factors. First and foremost, Asia Pacific is home to some of the largest electronics manufacturing countries, including China, Japan, South Korea, and Taiwan. These countries have a strong presence in consumer electronics, automotive electronics, and telecommunication equipment manufacturing. The robust electronics ecosystem, extensive supply chain networks, and availability of skilled labor have contributed to the dominance of Asia Pacific in the SMT market.

Surface Mount Technology Market Companies

Surface Mount Technology Market Competitive Landscape

Top Players in Surface Mount Technology Market

Fuji Corporation
Nordson Corporation
Yamaha Motors
KLA Corporation
Viscom AG
Juki Corporation
Hitachi High-Technologies Corporation
ASM Assembly Systems
Saki Corporation
Europlacer
Neoden
Panasonic Corporation
Kasdon Electronics
Ohmite Manufacturing
KBC Electronics
DDM Novastar
ThermOmegaTech
ABL Circuits
Mirtec
Machine Vision Products
Cirexx

Surface Mount Technology Market

FAQs

Surface Mount Technology Market size was valued at USD 5.73 Billion in 2023 and is poised to grow from USD 6.39 Billion in 2024 to USD 15.26 Billion by 2032, growing at a CAGR of 11.5% during the forecast period (2025-2032).

The surface mount technology industry is growing rapidly because prominent market players are investing heavily in research and development to expand their product lines. Market participants are also engaging in different strategic activities for expanding their global footprint, with important market developments. Companies are investing in new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in this competitive and growing market structure the surface mount technology equipment industry must provide cost-efficient items. Manufacturing locally to reduce operational expense is one of the key business strategies manufacturers are using to benefit clients and increase the market growth. 'Fuji Corporation ', 'Nordson Corporation ', 'Yamaha Motors ', 'KLA Corporation ', 'Viscom AG ', 'Juki Corporation ', 'Hitachi High-Technologies Corporation ', 'ASM Assembly Systems ', 'Saki Corporation ', 'Europlacer ', 'Neoden ', 'Panasonic Corporation ', 'Kasdon Electronics ', 'Ohmite Manufacturing ', 'KBC Electronics ', 'DDM Novastar ', 'ThermOmegaTech ', 'ABL Circuits ', 'Mirtec ', 'Machine Vision Products ', 'Cirexx '

Incorporation of Automation and Industry 4.0: The implementation of automation and Industry 4.0 is changing the landscape of the surface mount technology market. SMT machine assembly lines are being increasingly adopted by manufacturers to improve productivity, reduce cost of labor, and enhance the quality of the product being manufactured. These automated lines consist of robotic component placement, solder paste application as well as inspection systems. Principles of Industry 4.0 are also finding application in SMT manufacturing enhancing the ability of the manufacturer to do real-time data collection and analysis of the manufacturing process to optimize it. Automated quality control is helping manufacturers to keep an eye on machines, control the quality of production, and schedule repairs. 

North America is dominating with the largest surface mount technology market share.  Some of the world's largest technology and research organizations are located in North America. Moreover, these organizations have continuously contributed towards modernization and improvements in various components of technology including surface mount technology. With this being said, businesses associated with North America have pioneered in creating ultra-modern equipment, materials, and processes related to SMT. As a result, this development has made possible for the manufacturers in the region to produce advanced SMT products and make it globally competitive. Considering the aerospace, defense, automotive, and consumer electronics industries, North America features a well-developed manufacturing base. The regional manufacturing infrastructure is also well-developed and represents a large potential market for suppliers of SMT. The increased focus on such manufacturing activities is increasing the demand for surface mount technology solutions, leading to the growth of the market in the region.

Surface Mount Technology Market

Report ID: SQMIG45K2071

Top Surface Mount Technology Companies

Surface Mount Technology Market Competitive Landscape

Top Players in Surface Mount Technology Market

Surface Mount Technology Market

Surface Mount Technology Market Report Snapshots

FAQs

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Top Surface Mount Technology Companies

Surface Mount Technology Market Competitive Landscape

Top Players in Surface Mount Technology Market

Surface Mount Technology Market

Surface Mount Technology Market Report Snapshots

FAQs

What is the global market size of Surface Mount Technology Market?

Who are the key vendors in the Surface Mount Technology Market?

What is the key driver of Surface Mount Technology Market?

What is the key market trend for Surface Mount Technology Market?

Which region accounted for the largest share in Surface Mount Technology Market?

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