Surface Mount Technology (SMT) Equipment Market Size, Share, Opportunities, And Trends By Type (Screen Print Equipment, Soldering Equipment, Inspection Equipment, Placement Equipment, Cleaning Equipment, Repair & Rework Equipment), By Industry Vertical (Telecommunication, Consumer Electronics, Automotive, Healthcare, Others), And By Geography - Forecasts From 2025 To 2030

The Surface Mount Technology (SMT) Equipment market is expected to grow at a compound annual growth rate (CAGR) of  5.67% from US$11,508.443 million in 2025 to US$15,164.571 million in 2030.

Surface-mount technology, or SMT, is a type of component assembly technology mounted on the surface of the PCB or printed circuit board. The SMT offers maximum flexibility and improved reliability and performance. It also increases automation utilization and can integrate multiple components into smaller units.  A major factor boosting the global SMT equipment market forward is the increasing demand for smartphones and telecommunication products worldwide. SMTs offer lighter and smaller footprints, which helps increase the performance of the devices. These systems also help in increasing the reliability of the smartphones. With the growing ownership of smartphones globally, the demand for SMTs in the telecommunication sector will increase significantly.

The GSM Association, in its report, stated that as of October 2023, about 54% of the global population, which is about 4.3 billion, owns smartphones. Similarly, mobile phone ownership also increased significantly. The International Telecommunication Union, in its report, stated that in 2023, the total ownership of mobile phones was recorded at 78%. In the global mobile phone ownership, the European region accounts for 93%, followed by 88% in the Americas region. The Arab States and Asia Pacific region accounted for 82% and 75%, respectively.

With the growing demand for smartphones, manufacturers are increasingly resorting to SMT technology to create smaller, more efficient devices that match customer performance and portability standards. This tendency is accelerated by technological improvements such as 5G, which necessitate complex electronic components capable of managing faster data speeds and improved communication.

Furthermore, to offer devices with better cameras, longer battery life and robust processing capabilities, to meet the needs of consumers is essential for manufacturers to offer them at a reasonable price; hence, SMT technology becomes necessary. To satisfy the demand for increasingly smart devices and IoT, it also requires compact assemblies that SMT can successfully offer.

What are the drivers of the Surface Mount Technology (SMT) Equipment Market?

• Increasing demand for electric vehicles is projected to propel the Surface Mount Technology (SMT) Equipment market expansion.

The increasing global demand for electric vehicles is boosting the demand for SMT equipment during the forecasted timeline. In electric vehicles, the SMTs are integrated into the electronic devices, to enhance the reliability and performance of the devices.

The International Energy Agency, in its report, stated that the global sales of electric vehicles witnessed significant growth over the past few years. The agency stated that in 2021, the total sales of battery electric vehicles were recorded at 4.7 million, which increased to 7.3 million in 2022. In 2023, the total sales were 9.5 million. 

Electric vehicles have a higher number of electronic components than typical combustion engines, which increases demand for printed circuit boards (PCBs) and SMT machinery. The car industry is increasingly reliant on modern electronic systems, such as battery management systems, infotainment systems, and advanced driver assistance systems (ADAS), all of which use SMT technology for efficient assembly.

Furthermore, automotive electronics manufacturers strive to comply with high-quality and safety standards, so they seek sophisticated SMT solutions that guarantee precision and reliability. Vehicle electrification pushes further not only the demand for more electronic components but also innovative SMT equipment, and therefore automation and AI are integrated to improve production efficiency.

• The expanding telecommunication sector is anticipated to fuel the Surface Mount Technology (SMT) Equipment market expansion.

The telecom sector has been expanding, and as the number of users has increased, so need for surface-mount technology equipment. Due to the introduction of new products, rapid production, and miniaturization, the expanding telecommunications industry has been driving the demand for SMT equipment globally. Moreover, due to the exponential growth in demand for mobile phones, 4G/5G networks, CFL and LED lighting units, LCD television sets, and other telecommunications, there is an immediate need for electronic devices that are both lightweight and long-lasting in their respective fields.

Further, the increasing use of the Internet globally is also raising the need for surface-mount technology equipment in the telecom industry. For instance, 4.9 million people, or 69% of the world's population, are active Internet users as of 2022. According to trends, the number of Internet users is increasing at a rate of 4% annually, which translates to about 196 million new users joining the Internet annually.

As technology such as 5G continues to advance, telecommunications become further advanced. As the complexity of data and connections grows higher, the demand for greater electronic components grows higher with it. Thus, these manufacturers have to spend big on advanced SMT equipment to be able to provide smaller and more complex boards that can fulfil all those new specifications. The trend continues to be amplified by smart devices, including IoT applications. These devices often require complicated electronic assemblies that rely extensively on SMT processes to manufacture efficiently. As more data traffic and connectivity requirements are built into the telecom company's infrastructure, they will continue to rely on SMT technology for their needs.

The inclusion of AI and machine learning in telecommunication also opens doors for SMT equipment manufacturers. These technologies require highly sophisticated electronics that can process large volumes of data in real-time, further increasing the demand for high-quality SMT solutions. In general, the interaction between telecommunications advancements and SMT technology will drive market growth to a huge extent in the coming years.

What are the key geographical trends shaping the Surface Mount Technology (SMT) Equipment Market?

Based on geography, the Surface Mount Technology (SMT) Equipment market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America is anticipated to hold a substantial market share. The region's strong manufacturing base, highly qualified workforce, and pro-business government policies draw in multinational firms and encourage the expansion of regional electronics industries. The increasing demand for tablets, smartphones, and other electronic devices means that surface mount technology must be able to produce them efficiently and in large quantities.

Moreover, the market in the United States is changing as a result of the incorporation of cutting-edge technologies like artificial intelligence, the Internet of Things, and data analytics. These technologies put tech-driven businesses at the forefront by enabling increased product efficiency, customization, and user experience. In addition to enhancing competitive advantage, this emphasis on innovation opens up new growth prospects by satisfying a tech-savvy clientele.

Further, the demand for surface mount technology equipment is expected to increase during the forecast period due to the United States' significant share of the semiconductor industry and high R&D costs. For instance, the total R&D investment made by the semiconductor industry in the United States in 2023 was $59.3 billion. Spending on research and development increased by 0.9% in 2023 compared to 2022.

Moreover, key market players are pursuing several strategic initiatives, including mergers and acquisitions and new product launches, to strengthen their market position, capture a significant share, and improve profitability as a whole. For instance, in September 2023, Hyve Solutions Corporation, a prominent supplier of hyperscale digital infrastructures and a fully owned subsidiary of TD SYNNEX Corporation, introduced new Surface Mount Technology (SMT) lines that increase its capacity for manufacturing in the United States. Hyve's continued dedication to offering clients a Secure Supply Chain through locally optimized efficiencies and lead time reductions is strengthened by this expansion.

As competition heats up in the SMT equipment market, companies are focussing on sustainability initiatives to attract to environmentally concerned customers. This trend towards more sustainable manufacturing processes is likely to affect industry advancements in the future. Firms that engage in environmentally friendly technologies and procedures can not only increase their market appeal but also contribute positively to global sustainability initiatives.

Recent developments in the Surface Mount Technology (SMT) Equipment Market:

• June 2024- SMTO has partnered with Essemtec, a leading company in complex electronics assembly solutions, for a strategic presence in the Mexican market. This alliance seeks to leverage the fast-expanding electronics manufacturing sector of Mexico, which has experienced a 30% increase between 2020 and 2023. Combining Essemtec's advanced manufacturing tools with SMTO's commitment to service excellence, the partnership will prove to be an opportunity to offer a holistic solution with support to local manufacturers. Both companies are enthusiastic regarding the growth potential, strengthening their market penetration through service provision, and ready for the shifting landscape of Mexico's electronics industry.
• January 2024- ASMTXTRA USA has joined up with Precision Tool Group as its representative from Virginia to Maine. This agreement is expected to improve the distribution of SMT products and solutions in the northeastern United States. SMTXTRA USA, an expert in surface mount technology, looks forward to leveraging Precision Tool Group's wide network and industry experience to better serve customers in the region. The agreement represents a common commitment to providing high-quality, cost-effective products that satisfy the changing needs of the electronics manufacturing industry. By combining thorganizationseir resources, both organisations hope to improve service delivery and extend their market presence. This strategic agreement is expected to improve manufacturers' access to modern SMT equipment and components, ultimately promoting enhanced efficiency.

Surface Mount Technology (SMT) Equipment Market Scope:

Report Metric	Details
Surface Mount Technology (SMT) Equipment Market Size in 2025	US$11,508.443 million
Surface Mount Technology (SMT) Equipment Market Size in 2030	US$15,164.571 million
Growth Rate	CAGR of 5.67%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Million
Segmentation	Type Industry Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in Surface Mount Technology (SMT) Equipment Market	Fuji Corporation Hitachi Juki Corporation Viscom AG Nordson Corporation
Customization Scope	Free report customization with purchase

 

The Surface Mount Technology (SMT) Equipment market is analyzed into the following segments:

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

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. SURFACE MOUNT TECHNOLOGY (SMT) EQUIPMENT MARKET BY TYPE 

5.1. Introduction

5.2. Screen Print Equipment

5.2.1. Automatic

5.2.2. Semi-Automatic & Manual

5.3. Soldering Equipment 

5.3.1. Reflow

5.3.2. Wave

5.4. Inspection Equipment

5.4.1. SPI

5.4.2. AOI

5.5. Placement Equipment

5.5.1. Sequential

5.5.2. Parallel

5.6. Cleaning Equipment 

5.7. Repair and Rework Equipment 

6. SURFACE MOUNT TECHNOLOGY (SMT) EQUIPMENT MARKET BY INDUSTRY 

6.1. Introduction

6.2. Telecommunication

6.3. Consumer Electronics

6.4. Automotive

6.5. Healthcare

6.6. Others

7. SURFACE MOUNT TECHNOLOGY (SMT) EQUIPMENT MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type 

7.2.2. By Industry 

7.2.3. By Country

7.2.3.1. United States

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Type 

7.3.2. By Industry 

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Type 

7.4.2. By Industry 

7.4.3. By By Country

7.4.3.1. United Kingdom

7.4.3.2. Germany

7.4.3.3. France

7.4.3.4. Spain

7.4.3.5. Others

7.5. Middle East and Africa

7.5.1. By Type 

7.5.2. By Industry 

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. UAE

7.5.3.3. Israel

7.5.3.4. Others

7.6. Asia Pacific

7.6.1. By Type 

7.6.2. By Industry 

7.6.3. By Country

7.6.3.1. Japan

7.6.3.2. China

7.6.3.3. India

7.6.3.4. South Korea

7.6.3.5. Indonesia

7.6.3.6. Thailand

7.6.3.7. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Fuji Corporation

9.2. Hitachi

9.3. Juki Corporation

9.4. Viscom AG

9.5. Nordson Corporation

9.6. Panasonic Corporation

9.7. Yamaha Motor Co., Ltd.

9.8. Delta Electronics

9.9. Saki Corporation

9.10. ASM Pacific Technology Limited

9.11. Mycronic

9.12. OEL

9.13. Esko Casting and Electronics Pvt Ltd.

Fuji Corporation

Hitachi

Juki Corporation

Viscom AG

Nordson Corporation

Panasonic Corporation

Yamaha Motor Co., Ltd.

Delta Electronics

Saki Corporation

ASM Pacific Technology Limited

Mycronic

OEL

Esko Casting and Electronics Pvt Ltd.