Surface Mount Technology (SMT) Equipment Market Size
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Surface Mount Technology (SMT) Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for surface mount technology (SMT) equipment has seen noteworthy growth. It is projected to increase from a value of $5.82 billion in 2024 to $6.38 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%. Factors contributing to this growth during the historical period include stricter environmental regulations, expansion in the smart home device sector, growth in the semiconductor industry, higher demand for high-performance computing, and a rise in the popularity of smart wearables.
Surface Mount Technology (SMT) Equipment Market Size Forecast: What’s the Projected Valuation by 2029?
In the upcoming years, it is projected that the surface mount technology (SMT) equipment market will witness robust growth. The market size is set to reach $9.07 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.2%. The surge in growth during the forecast period can be attributed to factors such as the escalation in automotive electronics, the increasing acceptance of mobile devices, growth of medical device production, a rise in smart home devices and boosted investments in renewable energy. Key trends during the forecast period comprise technological advancements, the advent of 3D printing, AI integration, IoT adoption, and the progression of 5G technology.
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What Are the Drivers Transforming the Surface Mount Technology (SMT) Equipment Market?
The surge in the need for electronic devices is set to spur the surface mount technology (SMT) equipment market’s progression. These devices, which utilize electric energy and manipulate currents and signals through electronic circuits, serve different uses and specific tasks. Progress in semiconductor technology has resulted in the generation of smaller, more potent, and energy-saving parts, enhancing the portability and convenience of electronic devices. Surface mount technology (SMT) equipment aids in the precise and efficient assembly of electronic components onto PCBs, facilitating the making of sophisticated electronic devices employed in multiple sectors, from consumer electronics to aerospace and healthcare. For instance, as per the Japan Electronics and Information Technology Industries Association, a trade organization based in Japan, the total production of electronic components and devices in Japan in April 2024 amounted to ¥605,945 million ($3,760 million), a rise of 113.3% from the previous year. As such, the escalating demand for electronic devices is stimulating the advancement of the surface mount technology (SMT) equipment market.
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What Long-Term Trends Will Define the Future of the Surface Mount Technology (SMT) Equipment Market?
Leading businesses in the surface mount technology (SMT) equipment market are focusing their efforts on creating advanced, intelligent process control SMT machines to boost accuracy, efficacy, and trustworthiness in the production process. Advanced process control (APC) SMT machines are high-tech devices used in the manufacturing of electronic circuits. They incorporate AI, machine learning, and state-of-the-art sensor technologies for perfecting the placement and soldering of elements on printed circuit boards (PCBs). For example, in September 2023, the Japan-based Panasonic Holdings Corporation introduced its new NPM-G Series SMT machines in India. These machines possess several unique features that include fast-paced placement abilities and significantly increased throughput and productivity. The advanced vision systems of the NPM-G Series precisely place components, eliminates errors, and boosts the overall quality. The machines have a modular design which allows for easy scalability and customization to meet diverse production needs. When integrated with smart factory systems, they offer real-time tracking and data analysis, providing manufacturers with essential insights for improving their operations.
Which Segments in the Surface Mount Technology (SMT) Equipment Market Offer the Most Profit Potential?
The surface mount technology (SMT) equipment market covered in this report is segmented –
1) By Equipment: Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Repair Equipment, Rework Equipment
2) By Component: Passive Components, Active Components
3) By Service: Designing, Test And Prototyping, Supply Chain Services, Manufacturing, Aftermarket Services
4) By End-User: Telecommunication, Consumer electronics, Aerospace and defense, Automotive, Other End-Users
Subsegments:
1) By Placement Equipment: Automatic Placement Machines, Manual Placement Machines, Chip Shooters, Pick-And-Place Machines
2) By Inspection Equipment: Automated Optical Inspection (AOI) Systems, X-Ray Inspection Systems (AXI), 3D Solder Paste Inspection (SPI), Manual Inspection Tools
3) By Soldering Equipment: Wave Soldering Machines, Reflow Soldering Ovens, Selective Soldering Systems, Hand Soldering Stations
4) By Screen Printing Equipment: Stencil Printers, Semi-Automatic Screen Printers, Fully Automatic Screen Printers
5) By Cleaning Equipment: Ultrasonic Cleaning Systems, Inline Cleaning Systems, Batch Cleaning Systems
6) By Repair Equipment: Laser Rework Stations, Soldering Iron And Hot Air Rework Stations, Desoldering Tools
7) By Rework Equipment: PCB Repair Stations, BGA Rework Stations, SMD Rework Tools And Systems
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Which Firms Dominate the Surface Mount Technology (SMT) Equipment Market by Market Share and Revenue in 2025?
Major companies operating in the surface mount technology (SMT) equipment market are Panasonic Corporation, Fuji Corporation, KLA Corporation, Omron Corporation, MKS Instruments, Teradyne Inc., Nordson Corporation, Nordson Corporation, Kulicke and Soffa Industries Inc., Mycronic AB, Koh Young Technology Inc., Universal Instruments Corporation, Heller Industries Inc., Keystone Electronics, Naprotek LLC, Hitachi High-Tech India Private Limited, CyberOptics Corporation, Electronic Manufacturing Services Group Inc., SMTnet, SAKI CORPORATION, Yamaha Motor Co. Ltd
Which Regions Offer the Highest Growth Potential in the Surface Mount Technology (SMT) Equipment Market?
Asia-Pacific was the largest region in the surface mount technology (SMT) equipment market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the surface mount technology (SMT) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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