The Surface Mount Technology (SMT) Equipment Market is being driven by Miniaturization of components
The Surface Mount Technology (SMT) Equipment Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4028.4 million. The Surface Mount Technology (SMT) Equipment Market is witnessing substantial growth due to the surge in electric vehicle (EV) sales and manufacturing. SMT is a crucial technology in EV production as it offers superior mechanical efficiency under shock and vibration, enabling the manufacture of electrical components with conductive tracks and other features. These circuit boards mechanically support and electrically connect components, allowing for easier disassembly through the use of solder joints. In contrast, traditional PCB assembly methods involved fixing components, making disassembly a significant challenge. The increasing adoption of SMT in EV manufacturing presents lucrative opportunities for market expansion.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
200 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9% |
Market growth 2025-2029 |
USD 4028.4 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
8.0 |
Key countries |
US, China, Japan, India, South Korea, UK, Canada, Germany, Australia, and Saudi Arabia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Surface Mount Technology (SMT) Equipment Market is witnessing significant growth due to the increasing demand for circuit boards in the Consumer Electronics Market. Companies like CyberOptics Corporation are leading this trend with advanced SMT equipment for mounting electronic components on PCBs. The Telecommunications sector and Smartphone adoption rates are key drivers, with a focus on semiconductor packaging research and wireless communication standards. Passive Components are essential in PCB design and manufacturing, and SMT technology is crucial for semiconductor packaging in electronic devices.
The global electronic equipment and instruments market, a significant segment of the broader electronics industry, encompasses organizations engaged in the production of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, and electronic components. According to Technavio's market analysis, the size of this market is determined by the revenue generated from the sales of associated ICT and electronics products, equipment, and components. The market's expansion will be influenced by the escalating demand for advanced electronic test and measurement equipment. This demand is driven by technological innovations and digital transformation in various sectors, including semiconductors, automotive, IT, consumer electronics, industrial, energy, and medical devices. CyberOptics Corporation, a key player in the SMT (Surface Mount Technology) equipment market, specializes in automated equipment for semiconductor research, semiconductor packaging, and the placement of passive components. Their offerings cater to the increasing need for precise and efficient manufacturing processes in the electronics industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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