Surface Mount Technology Market Report 2025

The surface mount technology market size has grown strongly in recent years. It will grow from $5.68 billion in 2024 to $6.21 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to miniaturization of electronic devices, advancements in component packaging, increased efficiency in mass production, higher component density, improved electrical performance.

The surface mount technology market size is expected to see strong growth in the next few years. It will grow to $8.98 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rise of Internet of things (IoT), flexible and wearable electronics, increased adoption of advanced materials, integration of artificial intelligence (AI), electric vehicle (EV) manufacturing. Major trends in the forecast period include advancements in package-on-package (PoP) technology, 5G technology implementation, technological advancements in pick-and-place systems, rise of smart manufacturing and industry 4.0, lead-free soldering technologies.

The surge in electric vehicle sales is a major driver in the expansion of the surface mount technology (SMT) market. SMT, integral in installing electrical components on printed circuit boards in electric vehicles, offers heightened durability against mechanical stress and vibrations. Projections from the International Energy Agency anticipate global electric vehicle sales to soar from 10 million in 2022 to 14 million in 2023, underscoring the pivotal role of electric vehicle growth in propelling the surface mount technology market.

The rising demand for consumer electronics is poised to be a major driver fueling the growth of the surface-mount technology (SMT) market in the near future. Consumer electronics, designed for daily and non-professional use, leverage SMT to enable the integration of enhanced functionality into smaller devices, resulting in sleek and compact gadgets. The Japan Electronics and Information Technology Industries Association's statistics in May 2023 showcased a significant increase in electronic equipment and consumer electronics production in Japan. This escalating demand for consumer electronics is poised to be a pivotal force steering the growth trajectory of the surface-mount technology market.

The surface mount technology market witnesses major companies advancing their products through cutting-edge technologies such as IoT integration. Linx Technologies, a segment of TE Connectivity, unveiled the ANT-GNL1-nSP in December 2022, a surface-mount embedded GNSS antenna. This compact antenna, supporting various bands including GPS, Galileo, GLONASS, Beidou, and QZSS, offers linear polarization and omnidirectional radiation. Tailored for small IoT devices, it signifies the market's drive towards seamless connectivity and enhanced monitoring capabilities.

Prominent firms concentrate on developing innovative products employing advanced technologies such as surface mounters to ensure dependable customer services. A surface mounter is a machine automating the placement of surface-mount devices (SMDs) onto printed circuit boards (PCBs). For instance, in February 2023, Yamaha Motor, a Japan-based mobility manufacturer, launched the YRM20DL surface mounter, a high-efficiency modular system enhancing actual and per-unit area productivity. This dual-lane modular system minimizes transport and head standby loss, bolstering productivity within the surface mount technology landscape.

In April 2022, Cicor Technologies, a company based in Switzerland that focuses on the development and manufacturing of electronic solutions, acquired SMT Elektronik GmbH for an undisclosed amount. This acquisition is intended to strengthen Cicor Technologies' Electronic Manufacturing Services (EMS) business in Germany. SMT Elektronik GmbH, located in Germany, specializes in the production and assembly of electronic components, particularly utilizing surface mount technology (SMT).

Major companies operating in the surface mount technology market include Hitachi High-Technologies Corporation, Panasonic Holdings Corporation, Assembleon Automation Hanwha Group, Fuji Corporation, Yamaha Motor Co Ltd, Nordson Corporation, Kulicke and Soffa Industries Inc., Speedline Technologies, ASM Assembly Systems GmbH & Co KG, Universal Instruments, Rayming Technology, Essemtec AG, CyberOptics Corporation, Juki Corporation, Aurotek Corporation, Electro Scientific Industries Inc., GPD Global, Europlacer, Koh Young Technology Inc., Electronic Manufacturing Services Group Inc., Viscom AG, Mycronic AB, SSM MYDATA Services, Zhejiang Neoden Technology Co Ltd, Kasdon Electronics Limited, Saki Corporation, DDM Novastar, Onetech Smt Solutions Private Limited.

Asia-Pacific was the largest region in the surface mount technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global surface mount technology market report during the forecast period. The regions covered in the surface mount technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the surface mount technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Surface mount technology denotes a component assembly method for printed circuit boards, utilizing solder reflow operations to attach components to the board's surface. This technique, prevalent in electronic device manufacturing, offers advantages such as smaller component sizes, reduced interference, and high precision.

Surface mount technology relies on various equipment types including placement, inspection, coating, soldering, cleaning agents, and rework/repair equipment. Placement equipment is specialized for surface assembly, catering to transistors, diodes, and integrated circuits. These tools are utilized across industries such as telecommunications, consumer electronics, automotive, aerospace and defense, as well as healthcare for surface mount assembly processes.

The surface mount technology market research report is one of a series of new reports that provides surface mount technology market statistics, including surface mount technology industry global market size, regional shares, competitors with a surface mount technology market share, detailed surface mount technology market segments, market trends and opportunities, and any further data you may need to thrive in the surface mount technology industry. This surface mount technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The surface mount technology market consists of revenues earned by entities by providing printed circuit board (PCB) assembly and inspection services. The market value includes the value of related goods sold by the service provider or included within the service offering. The surface mount technology market includes sales of monolithic ceramic capacitors, tantalum capacitors, and thick film resistors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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