Chip Mounter Market to grow at a CAGR of 5.11% during 2024-2028
The Chip Mounter Market is expected to grow at a CAGR of 5.11% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.45 billion. The global chip mounter market is characterized by intense competition, with vendors prioritizing the integration of advanced features and technologies to effectively cater to evolving end-user demands. Yamaha Motors, for instance, recently unveiled its One-Stop Smart Solution at SMT Connect 2022, showcasing its commitment to high-speed, high-quality intelligent manufacturing through surface mount technologies. Vendors are also focusing on producing cost-effective, adaptable chip mounters that can seamlessly integrate with existing equipment and undergo upgrades to accommodate changing assembly line requirements.
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Technavio analysts predict that the SMT subsegment will lead the Technology segment during 2024 and 2028 SMT, or Surface Mount Technology, is a cutting-edge and productive methodology for PCB assembly, where components are mounted directly onto the PCB surface. This advanced technology is widely utilized in the production of electronic hardware due to its numerous advantages. Notably, SMT eliminates the need for drilling holes in PCBs, thereby saving space and enabling compact mounting and increased PCB production throughput. The components used in SMT are miniaturized and can be mounted on both sides of a PCB, making it an ideal solution for manufacturing miniaturized electronic products. The high-density mounting of a large number of small components results in the production of smaller, more efficient, and higher-performing PCBs. Electronic product manufacturers greatly benefit from the SMT mounting process, as it streamlines production and supports the creation of more compact and sophisticated electronic devices.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Global Chip Mounter Market include:
There are several factors that are causing the market to flourish growing adoption of industry 4.0 architecture
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The chip mounter market has seen significant growth in recent years, driven by product announcements from leading vendors in the semiconductor industry. Start-up enterprises are also entering the market with innovative solutions for chip mounting, including THT (Through Hole Technology) and SMT (Surface Mount Technology) equipment. The aerospace and military, automobile sector, telecommunications equipment, and consumer electronics industries are major consumers of chip mounting equipment. Vendor evaluation methodology is crucial for businesses looking to invest in chip mounters. Factors such as position recognition system, chip feeder capacity, manual or fully automatic operation, and compatibility with various electronic components like capacitors, resistors, integrated circuits, and printed circuit boards are key considerations. The market for chip mounting equipment is diverse, catering to various industries and applications. For instance, mobile screens and LED television manufacturing require high-speed, precision chip mounting, while the automobile sector demands robust and reliable mounters for mass production. The e-commerce sector's growth has led to increased demand for pick-and-place machines to meet the production needs of consumer electronics, including laptops. Overall, the chip mounter market is expected to continue its growth trajectory, driven by technological advancements and increasing demand from various industries.
The industrial machinery, supplies, and component market encompasses businesses involved in the manufacturing of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio's market analysis, the market size is determined by the combined revenue generated by these manufacturers supplying equipment for industrial applications. Factors driving growth in this market include expanding industrial output leading to capacity additions in process and discrete industries, particularly in developing countries, due to increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.
The Chip Mounter Market is experiencing significant growth, fueled by the growing adoption of industry 4.0 architecture. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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