Surface Mount Technology (SMT) Market

Surface Mount Technology (SMT) Market by Equipment (Placement, Inspection, Soldering, Screen Printing Equipment, Cleaning Equipment, Repair & Rework Equipment), Component, Service, End User and Geography - Global Forecast to 2028

Report Code: SE 3874 Mar, 2023, by marketsandmarkets.com

Updated on : October 18, 2023

The global surface mount technology market size is projected to grow from USD 5.8 billion in 2023 to reach USD 8.4 billion by 2028; it is expected to grow at a CAGR of 7.8% during the forecast period. Factors such as the high investment cost of machinery for setting up production units and the high frequency and need for thermal management act as restraints for the market's growth.

Surface Mount Technology (SMT) Market

Surface Mount Technology (SMT) Market Forecast to 2028

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Surface Mount Technology Market Dynamics:

Driver: Increased demand for miniaturized consumer electronics components

The consumer electronics industry is evolving, with innovations and technologies coming up constantly, such as fingerprint sensors in mobiles and smart televisions, offering consumers advanced features. The growing need for miniaturized products has led to the development of smaller electronic components that occupy less area. This is possible when the hardware components of the devices, such as PCB, are small in size and can run smoothly while being integrated with several components. The SMT helps use and assemble much smaller components, facilitating a smaller, portable, and lightweight electronic device. Smaller and thinner consumer electronics devices can be developed using SMT. It optimally enables a compact assembly of components on a PCB using the available space. It also makes the device lightweight since it does not have extra wiring and soldering, unlike the traditional through-hole technology.

Restraint: Need for high-frequency applications and thermal management

Designing an electronic device is a complicated process as many factors need to be considered while designing any electronic circuit, especially in SMT. The factors that need to be considered while designing the device include high-frequency applications and thermal management and stress on PCB due to coefficient of thermal expansion (CTE) mismatch. The CTE helps to understand how the object's size would change with temperature change. Additionally, the factors that must be considered when designing for high-frequency applications, such as telecommunications and consumer electronics, include the impedance of the package signal lines, cross-talk noise between these lines, and inductance interconnects on the PCB. With the increasing chip power used in electronic circuits using SMT, managing its thermal requirements with limited space inside the system poses a challenge. All factors together restrain the growth of the surface mount technology (SMT) market.

Opportunity: Advent of self-monitoring, analysis, and reporting technology (SMART)

The emergence of self-monitoring, analysis, and reporting technology (SMART) has revolutionized the technological landscape. SMART is slowly witnessing widespread adoption, from smart devices such as smartphones, smartwatches, and laptops to even broader applications in smart homes and factories. The need to mount and inspect all the components quickly and reliably has fueled the demand for SMT equipment. The SMT equipment plays a vital role in mounting and inspecting compact PCBs.

Challenge: Challenges in repair and rework of surface mount technology (SMT)-manufactured printed circuit boards (PCBs

The SMT-manufactured PCBs have revolutionized electronics manufacturing owing to the ease of construction and higher component density, which enables more components to be placed in a smaller area, thereby miniaturizing the electronic device. These SMT-manufactured devices are smaller, have more features, and are less expensive. However, this high density of components creates a challenge for repairing and reworking the PCB boards in case of any failure. Conventional soldering techniques are rendered useless for reworking on the board, and specialized techniques are needed to be used for rework, such as non-contact methods, to avoid additional damage to the assembly. These are combined with either computer controls or precise microscopes to guarantee accuracy but lead to greater cost and complexity in the process. Thus, this factor poses a major challenge for SMT repair or rework on an electronic device manufactured using this technology is highly complicated.

Inspection equipment is expected to grow with the highest CAGR during the forecast period

The inspection segment is expected to grow with the highest CAGR of the surface mount technology industry during the forecast period. The SMT inspection equipment market is driven by improving product technology, responsiveness, reliability, and quality of the inspection. The increasing need for this equipment in telecommunication, automotive, consumer electronics, and computing and storage is expected to drive its demand during the forecast period.

Telecommunications to account for a significant market share of the surface mount technology (SMT) market during the forecast period

The telecommunications segment is expected to have a significant market size in the end-user industry segment during the forecast period. The rising demand for wireless networks in high-performance computing and telecommunications applications is driving the need for surface mount technology (SMT) for the fast functioning of networks and achieving a high level of accuracy. The US is the major contributor for the telecommunications industry owing to the presence of major players present in the country.

Asia Pacific to have the largest market share in the surface mount technology (SMT)  market during the forecast period

Asia Pacific led the surface mount technology market globally during the forecast period. China and Japan are some of the major countries contributing toward the growth of the surface mount technology market in this region. An increase in manufacturing activities, combined with the region's emergence as a cost-effective production hub, is expected to drive the SMT market in the region. With many new electronics manufacturing projects planned in the region, Asia Pacific is expected to remain a high-growth market for SMT equipment.   

Surface Mount Technology (SMT) Market by Region

Surface Mount Technology (SMT) Market by Region

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Top Surface Mount Technology Companies - Key Market Players:

The Surface Mount Technology companies such as Fuji Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (US),  KLA Corporation (US), Yamaha Motor (Japan), Juki Corporation (Japan), Viscom AG (Germany),Hitachi High-Technologies Corporation (Japan), ASM Assembly Systems (Germany), and Saki Corporation (Japan) are some key players operating in the market.

Surface Mount Technology Market Report Scope :

Report Metric

Details

Estimated Market Size USD 5.8 billion in 2023
Projected Market Size USD 8.4 billion by 2028
Growth Rate CAGR of 7.8%

Market size available for years

2019–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

USD Million & Billion

Segments covered

  •  By Equipment,
  • By Component,
  • By Service,
  • By end user industry Region.

Regions covered

  • North America,
  • Asia Pacific,
  • Europe, and
  • RoW

Companies covered

Fuji Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (US), Viscom AG (Germany), KLA Corporation (US), Juki Corporation (Japan), Hitachi High-Technologies Corporation (Japan), ASM Assembly Systems (Germany), Yamaha Motor (Japan), and Saki Corporation (Japan) are among the key players operating in the surface mount technology (SMT) market.

Surface Mount Technology (SMT) Market Highlights

This research report categorizes the surface mount technology (SMT) market based on Equipment, Component, Service, End User Industry and Region

Segment

Subsegment

By Equipment

  • Inspection Equipment
  • Placement Equipment
  • Soldering Equipment
  • Screen Printing Equipment
  • Cleaning Equipment
  • Repair & Rework Equipment

By Component 

  • Active Component
  • Passive Component

By Service 

  • Designinig
  • Test & Prototype
  • Supply Chain Services
  • Manufacturing
  • Aftermarket Services

By End User Industry 

  • Consumer Electronics
  • Telecommunication
  • Aerospace & Defence
  • Automotive
  • Medical
  • Industrial
  • Energy & Power Systems

By Region

  • North America
  • Europe
  • Asia Pacific
  • RoW

Recent Developments in Surface Mount Technology Industry

  • In February 2023, Yamaha Motors launched a new YRM20DL surface mounter, a premium high-efficiency modular that achieves improved actual and per-unit-area productivity with a high-rigidity dual-lane conveyor, further reducing transport losses.
  • In December 2022, Mycronic AB received an order for a Prexision 800 Evo mask writer for display applications from an existing customer in Asia. Delivery of the system is planned for the second quarter of 2024.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 36)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: SEGMENTATION
           1.3.2 INCLUSIONS AND EXCLUSIONS
           1.3.3 REGIONAL SCOPE
                    FIGURE 2 REGIONAL SCOPE
           1.3.4 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA 
           FIGURE 3 PROCESS FLOW: SURFACE MOUNT TECHNOLOGY (SMT) MARKET SIZE ESTIMATION
           FIGURE 4 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Secondary sources
                    2.1.2.2 List of key secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary sources
                    2.1.3.2 Key industry insights
                    2.1.3.3 Primary interviews with experts
                    2.1.3.4 List of key primary respondents
                    2.1.3.5 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to derive market size using demand-side analysis
                               FIGURE 5 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to derive market size using top-down analysis
                               FIGURE 6 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON SURFACE MOUNT TECHNOLOGY (SMT) MARKET 
    2.6 RISK ASSESSMENT 
           TABLE 1 ANALYSIS OF RISK FACTORS
 
3 EXECUTIVE SUMMARY (Page No. - 52)
    3.1 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: RECESSION IMPACT 
           FIGURE 8 RECESSION IMPACT: GDP GROWTH PROJECTIONS TILL 2023 FOR MAJOR ECONOMIES
           FIGURE 9 RECESSION IMPACT ON SURFACE MOUNT TECHNOLOGY (SMT) MARKET, 2019–2028 (USD MILLION)
           FIGURE 10 INSPECTION SEGMENT TO REGISTER HIGHEST CAGR IN SURFACE MOUNT TECHNOLOGY (SMT) MARKET FROM 2023 TO 2028
           FIGURE 11 CONSUMER ELECTRONICS SEGMENT TO HOLD LARGEST SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET DURING FORECAST PERIOD
           FIGURE 12 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SURFACE MOUNT TECHNOLOGY (SMT) MARKET 
           FIGURE 13 GROWING USE OF ADVANCED AUTOMATION SYSTEMS REQUIRING HIGHLY RELIABLE NETWORKS FOR MACHINE-TO-MACHINE (M2M) COMMUNICATION
    4.2 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT 
           FIGURE 14 PLACEMENT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET FROM 2023 TO 2028
    4.3 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY 
           FIGURE 15 CONSUMER ELECTRONICS SEGMENT TO HOLD LARGEST SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET FROM 2023 TO 2028
    4.4 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION 
           FIGURE 16 CHINA TO REGISTER HIGHEST CAGR IN SURFACE MOUNT TECHNOLOGY (SMT) MARKET FROM 2023 TO 2028
 
5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 17 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increased demand for miniaturized consumer electronics components
                    5.2.1.2 Growing adoption of electric vehicles (EVs)
                               FIGURE 18 ELECTRIC VEHICLE SALES, 2013–2020 (MILLION UNITS)
                    5.2.1.3 Rising need to increase productivity of electronic manufacturing services (EMS) companies
                               FIGURE 19 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: DRIVERS AND THEIR IMPACT
           5.2.2 RESTRAINTS
                    5.2.2.1 Requirement for high investments to set up production units
                    5.2.2.2 Need for high-frequency applications and thermal management
                               FIGURE 20 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: RESTRAINTS AND THEIR IMPACT
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Integration of biometrics and security into consumer electronics and medical devices
                    5.2.3.2 Advent of Self-monitoring, Analysis, and Reporting Technology (SMART)
                               FIGURE 21 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: OPPORTUNITIES AND THEIR IMPACT
           5.2.4 CHALLENGES
                    5.2.4.1 Emergence of new assembly techniques
                    5.2.4.2 Challenges in repair and rework of surface mount technology (SMT)-manufactured printed circuit boards (PCBs)
                               FIGURE 22 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: CHALLENGES AND THEIR IMPACT
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 23 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: VALUE CHAIN ANALYSIS
           5.3.1 RAW MATERIAL AND CHIP PROCESSING
           5.3.2 COMPONENT PROVIDERS
           5.3.3 MANUFACTURING, ASSEMBLY, AND MODULE PACKAGING
           5.3.4 END USERS
    5.4 CASE STUDY ANALYSIS 
           5.4.1 GSI HELMHOLTZ CENTRE PARTNERED WITH ASMPT TO DEPLOY PRINTING AND PLACEMENT SOLUTIONS
    5.5 TECHNOLOGY ANALYSIS 
           5.5.1 HIGH-DENSITY INTERCONNECT (HDI) PRINTED CIRCUIT BOARDS (PCBS)
           5.5.2 WAFER BONDING
           5.5.3 FLIP CHIP
           5.5.4 FAN-OUT WAFER-LEVEL PACKAGING (FOWLP)
    5.6 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 24 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: PORTER’S FIVE FORCES ANALYSIS, 2022
           TABLE 2 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: PORTER’S FIVE FORCES ANALYSIS, 2022
           5.6.1 THREAT OF NEW ENTRANTS
           5.6.2 THREAT OF SUBSTITUTES
           5.6.3 BARGAINING POWER OF SUPPLIERS
           5.6.4 BARGAINING POWER OF BUYERS
           5.6.5 INTENSITY OF COMPETITIVE RIVALRY
    5.7 PRICING ANALYSIS 
           5.7.1 AVERAGE SELLING PRICE (ASP) ANALYSIS
                    TABLE 3 AVERAGE SELLING PRICE (ASP) OF KEY EQUIPMENT USED IN SMT
           5.7.2 AVERAGE SELLING PRICE (ASP) TREND
                    FIGURE 25 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: AVERAGE SELLING PRICE OF EQUIPMENT (HISTORIC)
    5.8 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USER INDUSTRIES
                    TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USER INDUSTRIES (%)
           5.8.2 BUYING CRITERIA
                    FIGURE 27 KEY BUYING CRITERIA OF TOP THREE END-USER INDUSTRIES
                    TABLE 5 KEY BUYING CRITERIA OF TOP THREE END-USER INDUSTRIES
    5.9 ECOSYSTEM ANALYSIS 
           FIGURE 28 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: ECOSYSTEM ANALYSIS
           TABLE 6 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: ECOSYSTEM ANALYSIS
    5.10 PATENT ANALYSIS 
           FIGURE 29 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2012–2022
           TABLE 7 TOP 20 PATENT OWNERS IN US, 2012–2022
           FIGURE 30 NUMBER OF PATENTS GRANTED, 2012–2022
           TABLE 8 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: LIST OF PATENTS
    5.11 TARIFFS AND REGULATIONS 
           5.11.1 TARIFFS
           5.11.2 TARIFF ANALYSIS
                    TABLE 9 TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY GERMANY, 2021
                    TABLE 10 TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY CHINA, 2021
                    TABLE 11 TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY JAPAN, 2021
                    TABLE 12 TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY US, 2021
                    TABLE 13 TARIFF FOR MEASURING OR CHECKING INSTRUMENTS, APPLIANCES, AND MACHINES EXPORTED BY SINGAPORE, 2021
           5.11.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.11.3.1 Regulations
                    5.11.3.2 Standards
    5.12 TRADE ANALYSIS 
           5.12.1 TRADE DATA FOR HS CODE 9031
                    FIGURE 31 IMPORT DATA, BY COUNTRY, 2017−2021 (USD THOUSAND)
                    FIGURE 32 EXPORT DATA, BY COUNTRY, 2017−2021 (USD THOUSAND)
    5.13 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SURFACE MOUNT TECHNOLOGY (SMT) MARKET PLAYERS 
           FIGURE 33 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SURFACE MOUNT TECHNOLOGY (SMT) MARKET PLAYERS
    5.14 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 14 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
 
6 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT (Page No. - 86)
    6.1 INTRODUCTION 
           FIGURE 34 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT
           FIGURE 35 PLACEMENT EQUIPMENT TO LEAD SURFACE MOUNT TECHNOLOGY (SMT) MARKET BETWEEN 2023 AND 2028
           TABLE 15 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT, 2019–2022 (USD MILLION)
           TABLE 16 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)
    6.2 INSPECTION EQUIPMENT 
           6.2.1 INCREASING FOCUS ON MANUFACTURING STABLE AND HIGH-QUALITY PRODUCTS
                    6.2.1.1 Laser Inspection Equipment
                               FIGURE 36 ADVANTAGES OF LASER INSPECTION EQUIPMENT
                    6.2.1.2 X-Ray inspection equipment
                    6.2.1.3 Optical Inspection Equipment
                               FIGURE 37 TYPES OF LIGHTING USED IN OPTICAL INSPECTION EQUIPMENT
                               TABLE 17 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET , BY REGION, 2019–2022 (USD MILLION)
                               TABLE 18 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET , BY REGION, 2023–2028 (USD MILLION)
                               TABLE 19 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 20 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 21 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 22 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 23 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 24 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 25 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 26 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 27 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 28 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 29 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 30 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 31 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 32 INSPECTION EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
    6.3 PLACEMENT EQUIPMENT 
           6.3.1 GROWING NEED FOR HIGHER ACCURACY AND SPEED, PRODUCT MINIATURIZATION, AND FLEXIBILITY
           6.3.2 BASED ON SPEED
                    6.3.2.1 Low-speed placement equipment
                    6.3.2.2 Medium-speed placement equipment
                               FIGURE 38 SELECTION CRITERIA FOR PLACEMENT EQUIPMENT
                    6.3.2.3 High-speed placement equipment
           6.3.3 BASED ON TYPE
                    6.3.3.1 Dual-delivery placement machine
                    6.3.3.2 Multi-station placement machine
                    6.3.3.3 Turret-type placement machine
                    6.3.3.4 Multi-head placement machine
                    6.3.3.5 Sequential pick-and-place machine
                               FIGURE 39 CONSUMER ELECTRONICS SEGMENT TO HOLD LARGEST SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR PLACEMENT EQUIPMENT IN 2023
                               TABLE 33 PLACEMENT EQUIPMENT:  MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 34 PLACEMENT EQUIPMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
                               FIGURE 40 ASIA PACIFIC PLACEMENT EQUIPMENT MARKET FOR CONSUMER ELECTRONICS TO LEAD SURFACE MOUNT TECHNOLOGY (SMT) MARKET BETWEEN 2023 AND 2028
                               TABLE 35 PLACEMENT EQUIPMENT: MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 36 PLACEMENT EQUIPMENT: MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 37 PLACEMENT EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 38 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 39 PLACEMENT EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 40 PLACEMENT EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 41 PLACEMENT EQUIPMENT: MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 42 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 43 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 44 PLACEMENT EQUIPMENT: MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 45 PLACEMENT EQUIPMENT: MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 46 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 47 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 48 PLACEMENT EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
    6.4 SOLDERING EQUIPMENT 
           6.4.1 RISING DEMAND FROM CONSUMER ELECTRONICS INDUSTRY
                    6.4.1.1 Wave oven
                    6.4.1.2 Reflow oven
                               TABLE 49 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 50 SOLDERING EQUIPMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 51 SOLDERING EQUIPMENT: MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 52 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 53 SOLDERING EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 54 SOLDERING EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 55 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 56 SOLDERING EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 57 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 58 SOLDERING EQUIPMENT: MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 59 SOLDERING EQUIPMENT: MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 60 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 61 SOLDERING EQUIPMENT: MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 62 SOLDERING EQUIPMENT:  MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 63 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 64 SOLDERING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
    6.5 SCREEN PRINTING EQUIPMENT 
           6.5.1 RISING NEED TO INCREASE PRODUCTIVITY, FLEXIBILITY, AND COST-EFFECTIVENESS
                    6.5.1.1 Automatic
                    6.5.1.2 Semiautomatic
                    6.5.1.3 Manual
                               FIGURE 41 AEROSPACE & DEFENSE SEGMENT TO HOLD SIGNIFICANT SHARE OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR SCREEN PRINTING EQUIPMENT IN 2028
                               TABLE 65 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY  MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 66 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 67 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 68 SCREEN PRINTING EQUIPMENT: MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 69 SCREEN PRINTING EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 70 SCREEN PRINTING EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 71 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 72 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 73 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 74 SCREEN PRINTING EQUIPMENT:  MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 75 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 76 SCREEN PRINTING EQUIPMENT:  MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 77 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 78 SCREEN PRINTING EQUIPMENT: MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 79 SCREEN PRINTING EQUIPMENT: MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 80 SCREEN PRINTING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
    6.6 CLEANING EQUIPMENT 
           6.6.1 GROWING USE OF CLEANING FLUXES FOR LEAD-FREE MANUFACTURING
                    TABLE 81 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 82 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 83 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 84 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 85 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 86 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 87 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 88 CLEANING EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 89 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 90 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 91 CLEANING EQUIPMENT: MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 92 CLEANING EQUIPMENT:  MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 93 CLEANING EQUIPMENT: MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 94 CLEANING EQUIPMENT: MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 95 CLEANING EQUIPMENT: MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 96 CLEANING EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
    6.7 REPAIR & REWORK EQUIPMENT 
           6.7.1 RISING ADOPTION OF REPAIR & REWORK EQUIPMENT IN MEDICAL INDUSTRY
                    6.7.1.1 Automatic
                    6.7.1.2 Semiautomatic
                               TABLE 97 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 98 REPAIR & REWORK EQUIPMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 99 REPAIR & REWORK EQUIPMENT:  MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 100 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY (SMT) MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 101 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR TELECOMMUNICATIONS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 102 REPAIR & REWORK EQUIPMENT: MARKET FOR TELECOMMUNICATIONS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 103 REPAIR & REWORK EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 104 REPAIR & REWORK EQUIPMENT: MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 105 REPAIR & REWORK EQUIPMENT: MARKET FOR AUTOMOTIVE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 106 REPAIR & REWORK EQUIPMENT: MARKET FOR AUTOMOTIVE, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 107 REPAIR & REWORK EQUIPMENT: MARKET FOR MEDICAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 108 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR MEDICAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 109 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR INDUSTRIAL, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 110 REPAIR & REWORK EQUIPMENT:  MARKET FOR INDUSTRIAL, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 111 REPAIR & REWORK EQUIPMENT: SURFACE MOUNT TECHNOLOGY MARKET FOR ENERGY & POWERS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 112 REPAIR & REWORK EQUIPMENT:  MARKET FOR ENERGY & POWER SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
 
7 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY COMPONENT (Page No. - 133)
    7.1 INTRODUCTION 
           FIGURE 42 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY COMPONENT
    7.2 PASSIVE COMPONENTS 
           7.2.1 RESISTORS
           TABLE 113 SMT RESISTOR SIZES
           7.2.2 CAPACITORS
           FIGURE 43 TYPES OF CAPACITORS IN SMT
    7.3 ACTIVE COMPONENTS 
           7.3.1 TRANSISTORS & DIODES
           7.3.2 INTEGRATED CIRCUITS
           FIGURE 44 CLASSIFICATION OF SMT INTEGRATED CIRCUITS
 
8 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY SERVICE (Page No. - 137)
    8.1 INTRODUCTION 
           FIGURE 45 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY SERVICE
    8.2 DESIGNING 
           FIGURE 46 PHASES IN DESIGNING PROCESS
    8.3 TEST AND PROTOTYPE 
           FIGURE 47 BENEFITS OF PROTOTYPE
    8.4 SUPPLY CHAIN SERVICES 
    8.5 MANUFACTURING 
           FIGURE 48 ELECTRONIC MANUFACTURING PRINTED CIRCUIT BOARD USING SMT
    8.6 AFTERMARKET SERVICES 
 
9 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY (Page No. - 143)
    9.1 INTRODUCTION 
           FIGURE 49 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY
           FIGURE 50 CONSUMER ELECTRONICS SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
           TABLE 114 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
           TABLE 115 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
    9.2 CONSUMER ELECTRONICS 
           9.2.1 MINIATURIZATION OF CONSUMER ELECTRONICS
                    TABLE 116 CONSUMER ELECTRONICS: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 117 CONSUMER ELECTRONICS: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 TELECOMMUNICATIONS 
           9.3.1 EMERGENCE OF WIRELESS COMMUNICATION TECHNOLOGIES
                    TABLE 118 TELECOMMUNICATIONS: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 119 TELECOMMUNICATIONS: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.4 AEROSPACE & DEFENSE 
           9.4.1 RISING DEMAND FOR HIGH-QUALITY ELECTRONIC COMPONENTS
                    FIGURE 51 ADVANTAGES OF SURFACE MOUNT TECHNOLOGY (SMT) OVER THROUGH-HOLE TECHNOLOGY FOR AEROSPACE & DEFENSE INDUSTRY
                    TABLE 120 AEROSPACE & DEFENSE: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 121 AEROSPACE & DEFENSE:  MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.5 AUTOMOTIVE 
           9.5.1 EXPANDING ELECTRIC VEHICLE (EV) MARKET
                    TABLE 122 AUTOMOTIVE:  MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 123 AUTOMOTIVE: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.6 MEDICAL 
           9.6.1 RISING DIGITIZATION IN MEDICAL INDUSTRY
                    TABLE 124 MEDICAL: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 125 MEDICAL:  MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.7 INDUSTRIAL 
           9.7.1 INCREASING ADOPTION OF AUTOMATION TECHNOLOGIES
                    TABLE 126 INDUSTRIAL: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 127 INDUSTRIAL:  MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.8 ENERGY AND POWER SYSTEMS 
           9.8.1 UPGRADE OF ENERGY INFRASTRUCTURE
                    TABLE 128 ENERGY & POWER SYSTEMS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 129 ENERGY & POWER SYSTEMS:  MARKET, BY REGION, 2023–2028 (USD MILLION)
 
10 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION (Page No. - 157)
     10.1 INTRODUCTION 
             FIGURE 52 CHINA SURFACE MOUNT TECHNOLOGY (SMT) MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 130 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 131 SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY REGION, 2023–2028 (USD MILLION)
     10.2 NORTH AMERICA 
             FIGURE 53 NORTH AMERICA: SNAPSHOT OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET
             TABLE 132 NORTH AMERICA: SURFACE MOUNT TECHNOLOGY MARKET , BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 133 NORTH AMERICA: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 134 NORTH AMERICA: MARKET, BY EQUIPMENT, 2019–2022 (USD MILLION)
             TABLE 135 NORTH AMERICA: MARKET , BY EQUIPMENT, 2023–2028 (USD MILLION)
             TABLE 136 NORTH AMERICA: MARKET , BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 137 NORTH AMERICA: MARKET , BY COUNTRY, 2023–2028 (USD MILLION)
             10.2.1 US
                        10.2.1.1 Surge in domestic manufacturing
             10.2.2 CANADA
                        10.2.2.1 Expanding consumer electronics industry
             10.2.3 MEXICO
                        10.2.3.1 Growing automotive industry
     10.3 EUROPE 
             FIGURE 54 EUROPE: SNAPSHOT OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET
             TABLE 138 EUROPE: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 139 EUROPE: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 140 EUROPE: MARKET, BY EQUIPMENT, 2019–2022 (USD MILLION)
             TABLE 141 EUROPE: MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)
             TABLE 142 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 143 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.3.1 UK
                        10.3.1.1 Government-led support to boost telecommunications industry
             10.3.2 GERMANY
                        10.3.2.1 Presence of established electronics manufacturing companies
             10.3.3 FRANCE
                        10.3.3.1 Mass digitization of major industries
             10.3.4 REST OF EUROPE
     10.4 ASIA PACIFIC 
             FIGURE 55 ASIA PACIFIC: SNAPSHOT OF SURFACE MOUNT TECHNOLOGY (SMT) MARKET
             TABLE 144 ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 145 ASIA PACIFIC: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 146 ASIA PACIFIC: MARKET, BY EQUIPMENT, 2019–2022 (USD MILLION)
             TABLE 147 ASIA PACIFIC: MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)
             TABLE 148 ASIA PACIFIC: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 149 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.4.1 CHINA
                        10.4.1.1 Government-led initiatives to increase domestic electronics manufacturing
             10.4.2 JAPAN
                        10.4.2.1 Presence of key automobile manufacturers
             10.4.3 SOUTH KOREA
                        10.4.3.1 Rising deployment of automation technologies
             10.4.4 INDIA
                        10.4.4.1 Rising foreign investments
             10.4.5 REST OF ASIA PACIFIC
     10.5 ROW 
             TABLE 150 ROW: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY END-USER INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 151 ROW: MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)
             TABLE 152 ROW: SURFACE MOUNT TECHNOLOGY (SMT) MARKET, BY EQUIPMENT, 2019–2022 (USD MILLION)
             TABLE 153 ROW: MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)
             TABLE 154 ROW: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 155 ROW: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             10.5.1 SOUTH AMERICA
                        10.5.1.1 Localization of electronics production
             10.5.2 MIDDLE EAST & AFRICA
                        10.5.2.1 Healthy growth of electronics industry
 
11 COMPETITIVE LANDSCAPE (Page No. - 179)
     11.1 OVERVIEW 
             TABLE 156 MAJOR COMPANIES ADOPTED PRODUCT LAUNCHES AS KEY GROWTH STRATEGY FROM 2019 TO 2022
     11.2 MARKET SHARE ANALYSIS, 2022 
             TABLE 157 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: DEGREE OF COMPETITION
             FIGURE 56 MARKET SHARE OF KEY COMPANIES IN SURFACE MOUNT TECHNOLOGY (SMT) MARKET, 2022
             TABLE 158 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: RANKING ANALYSIS
     11.3 REVENUE ANALYSIS 
             FIGURE 57 THREE-YEAR REVENUE ANALYSIS OF KEY COMPANIES, 2019–2021 (USD MILLION)
     11.4 COMPETITIVE LEADERSHIP MAPPING, 2022 
             11.4.1 STARS
             11.4.2 PERVASIVE PLAYERS
             11.4.3 EMERGING LEADERS
             11.4.4 PARTICIPANTS
                        FIGURE 58 SURFACE MOUNT TECHNOLOGY (SMT) MARKET (KEY PLAYERS): EVALUATION QUADRANT, 2022
                        TABLE 159 COMPANY FOOTPRINT
                        TABLE 160 EQUIPMENT: COMPANY FOOTPRINT
                        TABLE 161 END-USER INDUSTRY: COMPANY FOOTPRINT
                        TABLE 162 REGION: COMPANY FOOTPRINT
 
     11.5 START-UP/SME EVALUATION QUADRANT, 2022 
             11.5.1 PROGRESSIVE COMPANIES
             11.5.2 RESPONSIVE COMPANIES
             11.5.3 DYNAMIC COMPANIES
             11.5.4 STARTING BLOCKS
           FIGURE 59 SURFACE MOUNT TECHNOLOGY (SMT) MARKET (SME): EVALUATION QUADRANT, 2022
           TABLE 163 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: LIST OF KEY START-UPS/SMES
     11.6 COMPETITIVE SCENARIO AND TRENDS 
             11.6.1 PRODUCT LAUNCHES
           TABLE 164 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: PRODUCT LAUNCHES, JANUARY 2019–FEBRUARY 2022
             11.6.2 DEALS
           TABLE 165 SURFACE MOUNT TECHNOLOGY (SMT) MARKET: DEALS, JANUARY 2019–FEBRUARY 2022
 
12 COMPANY PROFILES (Page No. - 195)
     12.1 KEY COMPANIES 
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
             12.1.1 FUJI CORPORATION
                        TABLE 166 FUJI CORPORATION: COMPANY OVERVIEW
                        FIGURE 60 FUJI CORPORATION: COMPANY SNAPSHOT
                        TABLE 167 FUJI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.2 MYCRONIC AB
                        TABLE 168 MYCRONIC AB: COMPANY OVERVIEW
                        FIGURE 61 MYCRONIC AB: COMPANY SNAPSHOT
                        TABLE 169 MYCRONIC AB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 170 MYCRONIC AB: DEALS
             12.1.3 NORDSON CORPORATION
                        TABLE 171 NORDSON CORPORATION: COMPANY OVERVIEW
                        FIGURE 62 NORDSON CORPORATION: COMPANY SNAPSHOT
                        TABLE 172 NORDSON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 173 NORDSON CORPORATION: DEALS
                        TABLE 174 NORDSON CORPORATION: OTHERS
             12.1.4 YAMAHA MOTORS
                        TABLE 175 YAMAHA MOTORS: COMPANY OVERVIEW
                        FIGURE 63 YAMAHA MOTORS: COMPANY SNAPSHOT
                        TABLE 176 YAMAHA MOTORS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 177 YAMAHA MOTORS: PRODUCT LAUNCHES
                        TABLE 178 YAMAHA MOTORS: DEALS
                        TABLE 179 YAMAHA MOTORS: OTHERS
             12.1.5 KLA CORPORATION
                        TABLE 180 KLA CORPORATION: COMPANY OVERVIEW
                        FIGURE 64 KLA CORPORATION: COMPANY SNAPSHOT
                        TABLE 181 KLA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 182 KLA CORPORATION: DEALS
                        TABLE 183 KLA CORPORATION: OTHERS
             12.1.6 VISCOM AG
                        TABLE 184 VISCOM AG: COMPANY OVERVIEW
                        FIGURE 65 VISCOM AG: COMPANY SNAPSHOT
                        TABLE 185 VISCOM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.7 JUKI CORPORATION
                        TABLE 186 JUKI CORPORATION: COMPANY OVERVIEW
                        FIGURE 66 JUKI CORPORATION: COMPANY SNAPSHOT
                        TABLE 187 JUKI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.8 HITACHI HIGH-TECHNOLOGIES CORPORATION
                        TABLE 188 HITACHI HIGH-TECHNOLOGIES CORPORATION: COMPANY OVERVIEW
                        TABLE 189 HITACHI HIGH-TECHNOLOGIES CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 190 HITACHI HIGH-TECHNOLOGIES CORPORATION: PRODUCT LAUNCHES
                        TABLE 191 HITACHI HIGH-TECHNOLOGIES CORPORATION: DEALS
             12.1.9 ASM ASSEMBLY SYSTEMS
                        TABLE 192 ASM ASSEMBLY SYSTEMS: COMPANY OVERVIEW
                        TABLE 193 ASM ASSEMBLY SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             12.1.10 SAKI CORPORATION
                        TABLE 194 SAKI CORPORATION: COMPANY OVERVIEW
                        TABLE 195 SAKI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
     12.2 OTHER PLAYERS 
             12.2.1 EUROPLACER
             12.2.2 NEODEN
             12.2.3 PANASONIC CORPORATION
             12.2.4 KASDON ELECTRONICS
             12.2.5 OHMITE MANUFACTURING
             12.2.6 KBC ELECTRONICS
             12.2.7 DDM NOVASTAR
             12.2.8 THERMOMEGATECH
             12.2.9 ALTEK ELECTRONICS
             12.2.10 ABL CIRCUITS
             12.2.11 MIRTEC
             12.2.12 MACHINE VISION PRODUCTS
             12.2.13 CIREXX
             12.2.14 4E TECHNOLOGY
             12.2.15 ACD DIGITAL SYSTEMS
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
13 APPENDIX (Page No. - 239)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 
 

The study involved four major activities in estimating the current size of the surface mount technology (SMT)  market. Exhaustive secondary research was done to collect information on the market and its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were employed to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. These secondary sources include surface mount technology journals and magazines, annual reports, press releases, and investor presentations of companies; white papers; certified publications and articles from recognized authors; and directories and databases such as Factiva, Hoovers, and OneSource.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the surface mount technology (SMT) market. After complete market engineering (including calculations regarding market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information as well as to verify and validate the critical numbers arrived at.

Surface Mount Technology (SMT) Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the surface mount technology (SMT) market and other dependent submarkets listed in this report.

  • Key players in the industry and markets have been identified through extensive secondary research.
  • In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.  
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Surface Mount Technology (Smt) Market: Bottom-Up Approach

Surface Mount Technology (SMT) Market Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the global market has been split into several segments and subsegments.To complete the overall market engineering process and arrive at exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed wherever applicable. The data has been triangulated by studying various factors and trends identified from both demand and supply sides.

Market Definition

Surface mount technology (SMT) is a method of assembling electrical components on the surface of printed circuit boards (PCB) instead of inserting them through holes drilled on the PCB. The circuit thus assembled is known as a surface mount device (SMD) and the special components that are mounted on these devices are known as surface mount components (SMCs). SMCs are smaller in size than their through-hole counterparts, since these devices have eliminated the need for leads to connect to the PCB.

Key Stakeholders

  • Integrated circuit designers
  • Original equipment manufacturers (OEMs)
  • Product manufacturers
  • Semiconductor product designers and fabricators
  • Surface mount component and device distributors and providers
  • Raw material and manufacturing equipment suppliers

Report Objectives

The following are the primary objectives of the study.

  • To define, describe, and forecast the surface mount technology market size, by equipment, and end-user industry, in terms of value(USD million) & volume(million units)
  • To describe the services and components related to surface mount technology
  • To forecast the market size, in terms of value, for segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW)
  • To provide detailed information regarding the major drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the market
  • To provide a detailed Porter’s five forces analysis of the surface mount technology market
  • To provide an overall view of the global market through illustrative segmentations, analyses, and market size estimations of the major geographic segments
  • To analyze the competitive intelligence of players based on company profiles, key player strategies, and game-changing developments such as product launches and acquisitions
  • To strategically analyze the micromarkets1 with respect to the individual growth trends, prospects, and contribution to the total market
  • To analyze strategic developments such as joint ventures, mergers and acquisitions, product developments, and R&D in the surface mount technology market
  • To analyze the probable impact of the recession on the market in the future

Available Customizations

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Company Information:

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We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
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Published ON
Mar, 2023
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