Europe SMT Equipment Market Forecast to 2031 - Regional Analysis - by Component, Equipment Type, and End User

The Europe SMT equipment market was valued at US$ 1.20 billion in 2023 and is projected to reach US$ 1.75 billion by 2031; it is estimated to record a CAGR of 4.8% from 2023 to 2031.

Increasing Miniaturization of Electronic Products Drives Europe SMT Equipment Market

Over the past few decades, the miniaturization of components has been one of the prime factors in the advancement of the electronics industry. Miniaturization has advanced through three technological achievements: the components, the means of interconnection (mainly PCBs), and the methods of assembly. The pursuit of miniaturization remains a driving force in SMT equipment.

Component manufacturers are constantly pushing the limits of package sizes, introducing even smaller and more compact designs. Chip-scale packages (CSPs), wafer-level packaging (WLP), and emerging panel-level packaging technologies are enabling unprecedented levels of miniaturization, allowing for higher component densities and more advanced product designs.

Further, smartphones, tablets, laptops, televisions, and wearable devices rely heavily on SMT equipment to achieve miniaturization, high component density, and advanced functionality. Various industries are also demanding a highly reliable and compact electronic system. SMT equipment is widely used in the production of avionics, navigation systems, radar systems, and other critical aerospace electronics, where miniaturization, weight reduction, and durability are paramount. SMT equipment allows for the integration of smaller and lighter components onto printed circuit boards (PCBs), enabling the development of compact electronic devices with reduced form factors.

SMT-assembled printed circuit boards maximize the use of the space allotted on the surface. That means there is a higher density of key components covering the surface of the circuit board, with little to no space left empty. The maximize use of the circuit board's allotted space ties into the previously covered advantages, which are miniaturization, heightened responsiveness, and signal integrity. Thus, the increasing miniaturization of electronic products is propelling the growth of the Europe SMT equipment market.

Europe SMT Equipment Market Overview

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 growth in the automotive industry drives the Europe SMT equipment market.

Europe SMT Equipment Market Segmentation

The Europe SMT equipment market is categorized into component, equipment type, end user, and country.

• Based on component, the Europe SMT equipment market is bifurcated into passive component and active component. The active component segment held a larger market share in 2023.
• In terms of equipment type, the Europe SMT equipment market is categorized into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held the largest market share in 2023.
• By end user, the Europe SMT equipment market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held the largest market share in 2023.
• By country, the Europe SMT equipment market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe SMT equipment market share in 2023.

ASMPT Ltd, FUJI CORPORATION, Hitachi High-Tech Corp, JUKI CORPORATION, KLA Corp, Mycronic, Nordson Corp, SAKI CORPORATION, Viscom AG, and Yamaha Motor Co Ltd are some of the leading companies operating in the Europe SMT equipment market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe SMT equipment market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Europe SMT equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe SMT equipment market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.