Latest News- Chip Mounter Market: SMT is expected to lead the Technology segment during 2024-2028

The Chip Mounter Market is being driven by Growing adoption of Industry 4.0 architecture

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 1454.3 million. The global chip mounter market is characterized by intense competition, with vendors prioritizing the integration of advanced features and technologies to meet evolving end-user demands. Yamaha Motors, for instance, recently unveiled its One-Stop Smart Solution at SMT Connect 2022, showcasing high-speed, high-quality intelligent manufacturing through surface mount technologies. Vendors are also focusing on producing cost-effective, adaptable chip mounters that can be seamlessly integrated into existing assembly lines. By addressing the specific needs of customers and keeping up with technological advancements, market players aim to maintain a competitive edge. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • SMT
  • THT
• Application
  • Communications
  • Computers
  • Consumer electronics
  • Automotive
  • Other applications
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • Mexico
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing adoption of Industry 4.0 architecture
• Increasing demand for PCBs
• Rising demand from automotive industry

However, the market also witnesses some limitations, which are as follows:

• Requirement for high capital expenditure
• Growing use of leased and refurbished products
• Technical challenges in manufacturing high-quality chip mounters

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Market Scope in Chip Mounter Market Research Report

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Research Analysis Overview

The Chip Mounter market encompasses various types, including Desktop, High-Speed, Multi-Head, Flexible models, each offering unique advantages. Chip Mounter Software manages placement head technology, vision system calibration, component library, offline programming, process control, production data, preventive maintenance, and more. Accessories, training, installation, support, service, upgrades, automation, integration, simulation, design, validation, qualification, certification, standards, and regulations are essential aspects of the Chip Mounter industry.

Market Research Overview

The global industrial machinery, supplies, and component market encompasses businesses involved in the production of machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers supplying equipment and components for industrial applications. Factors driving growth in this sector include increasing industrial output and capacity expansions in process and discrete industries, particularly in developing countries, due to expanding demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. This growth is fueled by the global economic expansion and the subsequent rise in demand for industrial production. Additionally, the adoption of advanced technologies such as Surface Mount Technology (SMT), Pick and Place, Chip Placement, Automated Assembly, and Electronic Manufacturing is expected to further boost market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/