Surface Mount Technology Market is expected to reach US$ 15.5 Bn by 2032

The surface mount technology market is anticipated to develop at a CAGR of 11.8% from 2022 to 2032, reaching US$ 15.5 billion. When an electrical component is physically installed or affixed to the top surface of a printed circuit board (PCB), this process is referred to as surface mount technology.

It is distinct from the conventional soldering-through-hole method. In comparison to the thru-hole method, it employs slightly different soldering tools and techniques that enable higher electrical conductivity and dependability. More components can fit on a given area of printed circuit board thanks to surface mount technology, which also significantly reduces overall production costs.

Surface Mount Technology (SMT) is a manufacturing process for electronic circuit boards that involves mounting surface-mounted devices (SMDs) on the surface of a printed circuit board (PCB) rather than inserting them through holes. The SMT market refers to the equipment, materials, and services used in this process.

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Competitive Landscape

Global players in the Surface Mount Technology market include

• FUJI MACHINE MFG.CO., LTD,
• Juki Corporation, Corporation,
• Nikon Metrology NV,
• Tioga Limited,
• Hitachi High Technologies,
• Orbotech Ltd,
• Allen Organ Company LLC and
• Nordson Corporation.
• In November 2022, Cicor strengthened its presence in Germany by acquiring the Phoenix Mecano Digital Tunisie and Phoenix Mecano Digital Elektronik.
• In October 2022, Snaptron announced the development of its first surface-mount metal dome. The dome could be soldered on the PCBs without affecting performance. The domes could be easily mounted on the PCBs with the use of SMTs to automate the process. The SMD domes can act as an alternative to tact switches.

The SMT equipment segment dominates the market, with soldering equipment, pick-and-place machines, and inspection systems being the major categories. The materials segment includes soldering materials, adhesives, and fluxes, among others. The services segment includes installation, training, and maintenance services.

The Asia Pacific region dominates the SMT market, with China being the largest market due to its low labor costs, the presence of a large number of electronic manufacturing companies, and favorable government policies. North America and Europe are also significant markets, driven by the presence of major electronics manufacturers in the region.

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Regional Analysis

East Asia was the region estimated to hold the largest market share in 2021 of 24.5%, and North America is estimated to be the fastest-growing region for the surface mount technology market.

East Asia dominates the market for surface mount technology because of fast industrialization, a growing population, a thriving economy, the existence of leading SMT players, and the rising trend of miniaturization. The countries in this region produce and export a large amount of electrical goods. The majority of electronics firms use surface mount technology for the mass manufacturing of electrical gadgets.

Surface Mount Technology Market by Category

By Equipment:

• Inspection Equipment
• Placement Equipment
• Soldering Equipment
• Screen Printing Equipment
• Cleaning Equipment
• Rework and Repair Equipment

By Application:

• Consumer Electronics
• Telecommunications
• Aerospace & Defense
• Automotive
• Medical
• Industrial
• Energy & Power Systems

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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