Surface Mount Technology Market by Equipment (Placement, Inspection, Soldering, Screen Printing ) Global Forecast to 2022

[198 Pages Report] The increasing demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles are the key factors driving the growth of the surface mount technology market. The surface mount technology market was valued at USD 3.24 Billion in 2016 and is expected to grow at a CAGR of 8.9% between 2017 and 2022. The base year considered for the study is 2016 and the forecast period is between 2017 and 2022. The objective of the report is to provide a detailed analysis of the surface mount technology market on the basis of equipment, application, and geography. The report provides detailed information regarding the major factors influencing the growth of the surface mount technology market. The report also provides a detailed overview of the value chain in the surface mount technology market and analyzes the market trends with Porter’s five forces.

Placement equipment is expected to hold the largest share of the overall surface mount technology market in 2017. The SMT placement equipment market is driven by the need for higher accuracy, product miniaturization, improved speed, and flexibility. The SMT placement equipment is used to manufacture electronic systems in which electronic components are fitted with high speed and high accuracy on PCBs, which are then used in manufacturing consumer electronics and industrial equipment.

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 The market for inspection equipment is expected to grow at the highest rate between 2017 and 2022. The inspection system is an important division of the assembly process and helps to manufacture a stable, high-quality product. As the PCB moves around on a placement machine, there is a possibility of components getting disoriented from their location. Hence, the equipment has to inspect for any errors and disorientation before passing the PCB through the soldering process.

The consumer electronics industry is expected to dominate the market during the forecast period and is expected to grow at a high CAGR. The increasing miniaturization of electronic devices is leading to the manufacturing of compact, multifunctional, and power-efficient consumer electronic devices. These are expected to overcome the hardware limitations for consumer electronics as they need to have a number of components placed in a limited amount of space, and also have to be reliable, safe, and long lasting. The market for the automotive industry is expected to grow at the highest rate. The growing demand for luxury vehicles, sports utility vehicles, and technologically advanced vehicles has increased the usage of electric components in the automotive industry. The large and growing automotive market in the APAC region offers numerous business opportunities for electronic component manufacturers. This leads to the increased use of SMT in the automotive application.

The major players involved in the surface mount technology market are ASM Assembly Systems GmbH & Co. KG (Germany), CyberOptics Corporation (U.S.), Electro Scientific Industries Inc. (Oregon), Fuji Machine Manufacturing Co., Ltd.(Japan), Hitachi High-Technologies Corporation (Japan), Juki Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), and Viscom AG (Germany).

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