According to our latest study on "SMT Equipment Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by equipment type, component, and end-user," the SMT Equipment market size was valued at US$ 6.38 billion in 2023 and is expected to reach US$ 10.19 billion by 2031; it is estimated to record a CAGR of 6.0% from 2023 to 2031.
The SMT Equipment market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023, followed by North America and Europe, respectively.
SMT assembly processes, particularly reflow soldering, can be energy-intensive. However, advancements in equipment design and process optimization have led to more energy-efficient SMT assembly lines. Modern reflow ovens and other machinery are designed to minimize energy consumption while maintaining precise process control, reducing the overall environmental footprint of SMT manufacturing. SMT equipment can progress in addressing environmental concerns. Efforts can be taken to improve sustainability practices further. This includes exploring more eco-friendly materials, implementing closed-loop recycling systems, and adopting renewable energy sources to power SMT assembly lines. Thus, the growing need for environmentally friendly electronic components is expected to create an opportunity for the growth of the SMT equipment market.
The Europe SMT equipment market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Automotive PCBs play a huge role in automobiles, from engine controls and airbag sensors to anti-lock brake management and even GPS support.. Further, PCBs manage engines, entertainment systems, digital displays, radar, GPS, power relay timing systems, mirror controls, and a lot more. Germany is recognized worldwide for its outstanding automotive industry and excellence in engineering. The country's world-class R&D infrastructure, extensive industrial value chain integration, and highly qualified personnel have created an internationally unparalleled automotive environment. It facilitates businesses in developing innovative technologies that meet mobility requirements. According to the German Trade and Invest, the German automobile manufacturers produced over 15.6 million vehicles in 2021. Germany also boasts the largest concentration of automotive OEM plants in Europe. There are currently 44 OEM sites located in Germany. Germany's OEM market share in the European Union (EU) was more than 55% in 2021. Moreover, according to the German Association of the Automotive Industry (VDA), as of April 2023, Manufacturers and suppliers in the German car industry are expected to increase their investment in research and development (R&D) to more than US$ 272 billion between 2023 and 2027. Such developments in the automotive industry drives the SMT equipment market growth.
Key Findings of SMT Equipment Market Study:
The STM equipment market is segmented on the basis of equipment type, component, and end-user. Based on equipment type, the market is segmented into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. In terms of component, the STM equipment market is categorized into passive surface-mount devices, transistors and diodes, and integrated circuits. In terms of end-user, the market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. By geography, the SMT Equipment market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.
On the basis of equipment type, the market is divided into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held the largest SMT equipment market share in 2023. Placement equipment are also known as SMT pick-and-place machines or SMT component placement systems, which are used for placing surface mount devices (SMDs) onto printed circuit boards (PCBs). They are employed in the high-speed, high-precision placement of a wide variety of electronic components, such as integrated circuits, capacitors, and resistors, onto PCBs. These PCBs are used in consumer electronics, industrial, medical, automotive, military, and telecommunications equipment, as well as computers. This equipment uses high-resolution cameras and fine adjustment systems with the help of high-precision linear encoders on each axis to pick and place parts more precisely. Furthermore, these machines are capable of handling larger or more irregularly shaped parts. The adoption of this equipment helps businesses derive improved yield, save labor costs, and cut down on placement errors.
Based on end user, the market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held the largest in the SMT equipment market share in 2023. The consumer electronics market is growing day by day due to the increasing population, growing consumers' disposable income, and rising urbanization. This factor has led to the production of electronics, where SMT equipment plays a crucial role in the faster and more reliable production of electronics. A variety of computer motherboards, power supply motherboards, and electronic product integrated boards require pick-and-place machines to mount various electronic product components. These machines not only perform a variety of different component placements but also save a lot of operating time. Consumer electronics such as mobile phones, Bluetooth speakers, Bluetooth headsets, sports bracelets, and small household appliances require SMT machines. These machines help boost the assembly process and enable the production of compact, efficient, and feature-rich electronic products.
Hitachi High-Tech Corp, Juki Corporation, ASMPT Ltd, Yamaha Motor Co Ltd, Nordson Corp, KLA Corp, Viscom AG, Fuji Corporation, Saki Corporation, and Mycronic are among the key players profiled in the SMT Equipment market report. Several other major players were studied and analyzed during the SMT Equipment market analysis to get a holistic view of the market and its ecosystem. The SMT Equipment market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current SMT Equipment market trends and their foreseeable impact during the forecast period.
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