The North America Surface Mount Technology Market should witness market growth of 7.3% CAGR during the forecast period (2022-2028).
The advantages of switching to surface mount technology are increased speed, cost efficiency, and reliability. These benefits are helpful throughout the assembly process since the production processes are simpler and the execution is less difficult. In addition, SMT is a considerable upgrade from the traditional leaded components used in electronics. Traditional leaded components on printed circuit boards can be replaced by surface-mount technology components, which are faster, more lightweight, and more dependable.
Because of surface-mount technology components in printed circuit boards (PCBs), businesses that produce and design goods have been empowered to cut costs considerably. Growing demand for electric vehicles has led to increased sales and manufacturing of electric cars. This market, therefore, has significant potential for growth. The vast majority of the electronic systems that go into electric vehicles are produced with surface-mount technology. This method provides higher mechanical efficiency when subjected to stress and vibration.
The market will expand as a result of several growth factors, including an increase in one-person households, an emergence in the popularity of smart homes, and an increase in the population of millennials. Innovations are a major driver of the Canadian home appliances market's growth. The preference for energy-efficient items that use less electricity and water is increasing among the younger populace. In addition, consumers are giving more weight and wide acclaim to products with smart features and multi-utilitythat seem straightforward yet attractive. Therefore, the surface mount technology market in the region is propelled by all these factors.
The US market dominated the North America Surface Mount Technology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,762.3 million by 2028. The Canada market is poised to grow at a CAGR of 9.7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 8.8% during (2022-2028).
Based on Industry, the market is segmented into Consumer Electronics, Telecommunication, Aerospace & Defense, Industrial, Medical, Automotive and Energy & Power Systems. Based on Equipment, the market is segmented into Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment and Repair & Rework Equipment. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nordson Corporation, KLA Corporation, Yamaha Motor Co., Ltd., Juki Corporation, Viscom AG, Hitachi High-Tech Corporation (Hitachi, Ltd.), Saki Corporation, Electro Scientific Industries (MKS Instruments, Inc. ), Fuji Machinery Co., Ltd. and Mycronic AB.
The advantages of switching to surface mount technology are increased speed, cost efficiency, and reliability. These benefits are helpful throughout the assembly process since the production processes are simpler and the execution is less difficult. In addition, SMT is a considerable upgrade from the traditional leaded components used in electronics. Traditional leaded components on printed circuit boards can be replaced by surface-mount technology components, which are faster, more lightweight, and more dependable.
Because of surface-mount technology components in printed circuit boards (PCBs), businesses that produce and design goods have been empowered to cut costs considerably. Growing demand for electric vehicles has led to increased sales and manufacturing of electric cars. This market, therefore, has significant potential for growth. The vast majority of the electronic systems that go into electric vehicles are produced with surface-mount technology. This method provides higher mechanical efficiency when subjected to stress and vibration.
The market will expand as a result of several growth factors, including an increase in one-person households, an emergence in the popularity of smart homes, and an increase in the population of millennials. Innovations are a major driver of the Canadian home appliances market's growth. The preference for energy-efficient items that use less electricity and water is increasing among the younger populace. In addition, consumers are giving more weight and wide acclaim to products with smart features and multi-utilitythat seem straightforward yet attractive. Therefore, the surface mount technology market in the region is propelled by all these factors.
The US market dominated the North America Surface Mount Technology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,762.3 million by 2028. The Canada market is poised to grow at a CAGR of 9.7% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 8.8% during (2022-2028).
Based on Industry, the market is segmented into Consumer Electronics, Telecommunication, Aerospace & Defense, Industrial, Medical, Automotive and Energy & Power Systems. Based on Equipment, the market is segmented into Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment and Repair & Rework Equipment. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nordson Corporation, KLA Corporation, Yamaha Motor Co., Ltd., Juki Corporation, Viscom AG, Hitachi High-Tech Corporation (Hitachi, Ltd.), Saki Corporation, Electro Scientific Industries (MKS Instruments, Inc. ), Fuji Machinery Co., Ltd. and Mycronic AB.
Scope of the Study
By Industry
- Consumer Electronics
- Telecommunication
- Aerospace & Defense
- Industrial
- Medical
- Automotive
- Energy & Power Systems
By Equipment
- Placement Equipment
- Inspection Equipment
- Soldering Equipment
- Screen Printing Equipment
- Cleaning Equipment
- Repair & Rework Equipment
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Nordson Corporation
- KLA Corporation
- Yamaha Motor Co., Ltd.
- Juki Corporation
- Viscom AG
- Hitachi High-Tech Corporation (Hitachi, Ltd.)
- Saki Corporation
- Electro Scientific Industries (MKS Instruments, Inc. )
- Fuji Machinery Co., Ltd.
- Mycronic AB
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Surface Mount Technology Market by Industry
Chapter 5. North America Surface Mount Technology Market by Equipment
Chapter 6. North America Surface Mount Technology Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Nordson Corporation
- KLA Corporation
- Yamaha Motor Co., Ltd.
- Juki Corporation
- Viscom AG
- Hitachi High-Tech Corporation (Hitachi, Ltd.)
- Saki Corporation
- Electro Scientific Industries (MKS Instruments, Inc. )
- Fuji Machinery Co., Ltd.
- Mycronic AB
Methodology
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About the Surface Mount Technology Market
Surface Mount Technology (SMT) is a method of electronic circuit assembly used in the semiconductor industry. It is a process in which components are mounted directly onto the surface of a printed circuit board (PCB) without the use of through-hole technology. SMT components are typically smaller than their through-hole counterparts, allowing for higher component density and increased circuit board performance. SMT also offers improved electrical performance, as the components are soldered directly Read more
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