Surface Mount Technology Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Equipment (Screen Print Equipment, Soldering Equipment, Inspection Equipment, Placement Equipment, Cleaning Equipment, Others), By Industry Vertical (Telecommunication, Consumer Electronics, Aerospace And Defense, Automotive, Healthcare, Others), And By Geography - Forecasts From 2023To 2028

The surface mount technology (SMT) market is expected to grow at a CAGR of 6.64% from US$8,734.778 million in 2021 to US$13,702.120 million in 2028.

The technology is increasingly being adopted on account of advantages such as reduced manufacturing costs, 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. The 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 restrain the market’s growth during the forecast period. 

Consumer electronics held the largest global market share in 2016 and will continue to dominate the market 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 2020 to 2027. 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 a thorough analysis and forecast, along with prevailing market trends and opportunities that each of these countries presents for the manufacturers.

Major players in the surface mount technology market have been covered along with their relative competitive positions 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.

Recent development and expansions

• Saki Corporation collaborated with FUJI Corporation in February 2022 to enable a direct data link for component information between FUJI's mounters and Saki's 3D-AOI. Saki 3D-AOI system users can automatically generate a PCB inspection data library by simply importing the component information data set from FUJI's mounters directly into Saki's 3D-AOI with the addition of the Job Data Conversion Function.
• Sierra Nevada Corporation (SNC) received a patent for its Surface Mount Technology (SMT) solar panels in September 2020. It's an important step in the programme because it allows SNC to prohibit others from creating, using, selling, offering for sale, or importing this game-changing technology.
• Optronic made a significant investment in the PCB line's quality in June 2020 by ordering a surface mounting machine, MY300, from Mycronic AB. Optronic is also a Mycronic supplier because it manufactures all cameras for Mycronic surface mounting machines.
• Yamaha Motor Co., Ltd. launched the new YRM20 surface mounter in April 2020. This high-efficiency premium modular mounter, built on a next-generation platform that embodies the intelligent factory, employs a high-speed, multi-purpose rotary head that, when combined with the new high-speed feeder, delivers high mounting performance.

COVID-19 impact on Surface Mount Technology Market

The global and national economies were severely impacted by the COVID-19 outbreak. Many end-user industries, including electronics manufacturing, were impacted. Work on the factory floor is a large part of manufacturing, where people are in close contact as they collaborate to increase productivity. There were component shortages in the market for building circuit boards. The ability to keep a healthy stock of components on hand has been dramatically reduced as many component manufacturers were shut down or were operating at minimum capacity. Many PCB components required for SMT assembly line operation are shipped as cargo on regular commercial airlines. As a result of international travel restrictions, flights were canceled, reducing shipping availability and driving up the prices.

Surface Mount Technology Market Scope:

Market Segmentation:

• By Equipment
  • Screen Print Equipment
    • Automatic
    • Semi-Automatic & Manual
  • Soldering Equipment
    • Reflow
    • Flow
  • Inspection Equipment
    • SPI
    • AOI
  • Placement Equipment
    • Sequential
    • Parallel
  • Cleaning Equipment
  • Repair & Rework Equipment
• By Industry Vertical
  • Telecommunication
  • Consumer Electronics
  • Automotive
  • Healthcare
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • South Korea
    • Others