Surface Mount Technology Market: Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

The report on the global surface mount technology market provides qualitative and quantitative analysis for the period from 2021-2030. The global surface mount technology market was valued at USD 4,380.93 million in 2022 and is expected to reach USD 8,264.31 million in 2030, with a CAGR of 7.34% during the forecast period 2023-2030. The study on the surface mount technology market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Surface mount technology, also known as planar mounting, is a method of directly mounting electrical components onto the surface of a Printed Circuit Board (PCB). The components mounted in this way are called Surface Mount Devices (SMDs). The market for surface mount technology is expected to experience rapid growth due to the increasing demand for smaller electronic devices.

One of the primary advantages of Surface Mount Technology (SMT) is its speed and reliability. The SMT assembly process is simpler and more efficient, allowing for faster assembly compared to traditional through-hole technology. Additionally, SMT offers improved reliability when compared to through-hole technology. These benefits contribute to the rising popularity and adoption of SMT in the industry.

Consumer Electronics to Dominate the Application Segment of the Surface Mount Technology Market

Surface Mount Technology (SMT) plays a crucial role in the efficient assembly of electronic components onto Printed Circuit Boards (PCBs). It enables the production of smaller form factors, increased circuit density, and improved manufacturing efficiency. These factors are particularly important in the consumer electronics industry where there is a constant demand for smaller, sleeker, and feature-rich devices.

Consumer electronic devices are continually shrinking in size while becoming more powerful. This trend is made possible by advancements in surface mount technology. The market for consumer electronic devices such as smartphones, tablets, laptops, and PCs is consistently high. SMT is extensively used in the manufacturing of these devices, allowing for the mounting of components such as processors, memory chips, display connectors, sensors, and wireless modules onto PCBs.

Asia-Pacific to be the Dominant Region in the Surface Mount Technology Market

The Asia-Pacific region is expected to dominate the market segment for Surface Mount Technology (SMT). This is primarily due to the increasing demand for 4G/5G networks, which has led to a higher demand for SMT in the region. The Asia-Pacific region also boasts a large number of SMT manufacturers, contributing to its market dominance.

Furthermore, the rise of Electric Vehicles (EVs) in the automotive industry, particularly in Asia-Pacific, has significantly impacted the growth of the SMT market. EVs require lightweight and compact electronic systems to optimize energy efficiency and range, making SMT a crucial technology in their production. Additionally, the growing demand for LED lighting is expected to drive the growth of the SMT market in the Asia-Pacific region. LED lighting systems often utilize SMT for their compact and efficient designs.

Report Findings

1) Drivers

• High demand for small and thin electronic components from consumers.
• Faster and more automated component placement of SMT in comparison to traditional through-hole technology is driving the market growth.
• High cost of SMT machines possesses a restrain to the market

2) Opportunities

• Increasing the use of smart devices will offer growth opportunities for the market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

• 1. Key Opinion Leaders associated with the publisher
• 2. Internal and External subject matter experts
• 3. Professionals and participants from the industry

The primary research respondents typically include

• 1. Executives working with leading companies in the market under review
• 2. Product/brand/marketing managers
• 3. CXO level executives
• 4. Regional/zonal/country managers
• 5. Vice President level executives

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

• 1. Company reports and publications
• 2. Government/institutional publications
• 3. Trade and associations journals
• 4. Databases such as WTO, OECD, World Bank, and among others.
• 5. Websites and publications by research agencies

Segments Covered

The global surface mount technology market is segmented on the basis of type, and application.

The Global Surface Mount Technology Market by Type

• Coating Equipment
• Inspection
• Pick and Place
• Solder Equipment
• Cleaning Agents
• Rework
• Repair Equipment

The Global Surface Mount Technology Market by Application

• Telecommunication
• Consumer Electronics
• Automotive
• Aerospace Defence
• Healthcare

Company Profiles

The companies covered in the report include

• FUJI MACHINERY CO.,LTD
• Yamaha Motor Co., Ltd.
• Panasonic Corporation
• Mycronic
• CyberOptics
• Hitachi High-Tech Corporation
• JUKI CORPORATION
• Nordson Corporation
• Hanwha Group
• Universal Instruments Corporation

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the surface mount technology market.
2. Complete coverage of all the segments in the surface mount technology market to analyze the trends, developments in the global market, and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global surface mount technology market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.