The surface mount technology market is projected to grow at a CAGR of 6.81% to reach US$6.471 billion by 2025, from US$4.358 billion in 2019. The technology is increasingly being adopted on account of advantages such as reduced manufacturing cost, higher component density, and simpler and faster automation.
The growing global electronics industry and increasing usage of flexible equipment on PCBs are some of the key factors driving the surface mount technology market growth. Miniaturization of electronic components and focus on reducing defects are additional factors boosting the demand for surface mount technology equipment. However, the high cost of SMT equipment will restraint the market growth during the forecast period.
Under the application segment, consumer electronics held the largest global market share in 2016 and will continue its dominance till the end of the forecast period. There has been an increasing demand for smartphones, tablets, GPS navigation systems, and other electronic products across the globe. Miniaturization of components and technological development will further bolster the demand for surface mount technology equipment by enterprises operating in this segment.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2025. The global market has been broken down into North America, South America, Europe, the Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 10 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the surface mount technology market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the surface mount technology market.
|Market size value in 2019||US$4.358 billion|
|Market size value in 2025||US$6.471 billion|
|Growth Rate||CAGR of 6.81% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Equipment, Industry Vertical, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Fuji Machine MFG, Co., Hitachi, Juki Corporation, CyberOptics Corporation, Viscom AG, Nordson Corporation, Panasonic Corporation, Allen Integrated Assemblies, Universal Instruments Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the surface mount technology market size by 2025?
A1. The surface mount technology market is expected to reach a market size of US$6.471 billion by 2025.
Q2. What is the size of the surface mount technology market?
A2. Surface Mount Technology Market was valued at US$4.358 billion in the year 2019.
Q3. What are the growth prospects for the surface mount technology market?
A3. The global surface mount technology market is expected to grow at a CAGR of 6.81% over the forecast period.
Q4. How is the surface mount technology market segmented?
A4. The surface mount technology market has been segmented by equipment, industry vertical, and geography.
Q5. What factors are anticipated to drive the surface mount technology market growth?
A5. The technology is increasingly being adopted on account of advantages such as reduced manufacturing cost, higher component density, and simpler and faster automation.
Fuji Machine MFG, Co.,
Allen Integrated Assemblies
Universal Instruments Corporation
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