The Surface Mount Technology Equipment Market is predicted to grow during the research period from 2017 to 2025.
What Are the Driving Factors for Surface Mount Technology Equipment Market?
- Increasing demand for cost-effective ways for large scale mechanization
- Increasing applications in printed circuit boards allowed manufacturers to produce printed circuit boards at a much lesser cost
- Applications benefits the manufacturers in terms of weight and size as the components being extremely small making a significant reduction in the weight of the surface
- Growing applications across different industry verticals
|By Equipment Type||Cleaning Equipment, Soldering Equipment, Inspection Equipment, Screen Printing Equipment and others|
|By Application Areas||Telecommunication, Medical, Consumer Electronics, Automotive, Industrial, Aerospace, Defense and others|
|By Regions||North America, Europe, Asia Pacific, Middle East & Africa, Latin America), 2017 – 2025|
|Japan||Hitachi Corporation, Fuji Machine Manufacturing Co. Ltd & others|
|U.S.||Omron Corporation, KBC Electronics Inc., Nordson Corporation & others|
|Korea||Panasonic Corporation & others|
Why Buy this Report?
- This report provides in-depth analysis of market determinant factors.
- This report analyzes market dynamics for each segment (such as Equipment Type, Application Areas, Regions).
- This report provides 8 years forecast by analyzing push and pull factors affecting the dynamics of the market.
- This report provides application level cross sectional analysis for each product type.
- This report provides regional level pricing trend analysis.
- This report acts as business decision support system by analyzing key trends in each market segment.
- This report provides insights regarding business strategies of leading market players.
Surface Mount Technology Equipment Market - Introduction
The surface mount technology equipment market is likely to grow during the forecast period of 2017-2025 with industrial and automotive being the major segment for growth. This technology is a specific method that is used for the production of electronic circuits where components are mounted directly on the surface of printed circuit boards or PCBs. Devices used for applications of these systems has extremely small components that usually contain shorter pins in different styles along with flat contacts or terminations in the body of components. This global market has been segmented on the basis of equipment type, application, and geography. This equipment has growing applications in the integrated circuit manufacturing industry. Along with this, the rise in demand for small gadgets and growth of semiconductor manufacturing industry has been some other factors that have contributed to the growth of this market globally.
|Base Year of Estimation||2016|
|Value Estimation Year||2017|
|Forecast Period||2017 - 2025|
|Market Segmentations||By Equipment Type, Application Areas, Regions|
|Regional Scope||North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America|
|Report Coverage||Market Dynamics, Segmentation Overview and Competitive Landscape of the market|
It is the growing demand for cost-effective ways for large scale mechanization that has been the major driver boosting the growth of the surface mount technology equipment market globally. The smaller number of holes that need to be drilled in printed circuit boards allowed manufacturers to produce printed circuit boards at a much lesser cost. Costs and budgets were reduced as compared to the through hole manufacturing process further pushing the demand and in turn enhanced the demand for this market. In addition to this, as compared to the other traditional methods, the components used for this technology is small and flexible enough to be used on either side of the circuit boards. Use of this technology also benefits the manufacturers in terms of its weight and size with components being extremely small making a significant reduction in the weight of the surface mount assembly. All these factors positively impact the demand for this market and form some of the major drivers for its growth. Along with these drivers, there are certain restraints that negatively impact the demand of this market. Such factor includes the usage of high-voltage or high-power parts in the usage of surface mounting technology along with the high costs related with the component repairment as it requires highly skilled labors that further poses challenges for this market. It is also the growing applications across different industry verticals that are expected to provide opportunities for this market in the coming years.
The global market for surface mount technology equipment on the basis of equipment type has been segmented into cleaning equipment, soldering equipment, inspection equipment, cleaning equipment and screen printing equipment among others. Telecommunication, medical, consumer electronics, automotive, industrial and aerospace and defense among others form the major application areas based on which the global market has been segmented. In 2016, there has been a high demand for small electronic components and devices that have boosted the demand for this market.
By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America. Asia Pacific is expected to form the largest segment in terms of revenue and is expected to witness the highest growth during the forecast period. After Asia-Pacific, North America and Europe is expected to be the other major regions that have contributed to the growth of this market globally.
Some of the major companies that are operating in the global surface mount technology equipment market include Hitachi Corporation (Japan), Omron Corporation (U.S.), KBC Electronics Inc. (U.S.), Nordson Corporation (U.S.), Panasonic Corporation (Korea) and Fuji Machine Manufacturing Co. Ltd (Japan) among others.
North America and Asia-Pacific holds the major share of the surface mount technology equipment market in 2016.Advancement in the manufacturing facilities along with process automation has been some factors that have contributed to the growth of this market in these regions. As compared to Asia Pacific, Europe, and North America, the concentration of these service providers is comparatively low in Latin America and the Middle East and Africa (MEA) but is growing steadily in these regions as well.
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