Transparency Market Research delivers key insights on the global SMT Equipment market. In terms of revenue, the global SMT equipment market is estimated to expand at a CAGR of 4.9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global SMT equipment market.
The global SMT equipment market is broadly affected by several factors, including increase in use of SMT equipment and rapid adoption of SMT equipment in consumer electronics industry for miniaturization of equipment, which is anticipated to boost the global SMT equipment market.
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SMT Equipment Market: Dynamics
The printed circuit board (PCB) industry has been expanding at a rapid pace in the past few years, primarily due to continuous development of consumer electronics devices and increasing demand for PCBs in all electronics and electrical equipment.
These electronic devices are available in various shapes, forms, and sizes, and are being developed according to the application requirement. Thus, the processing lifecycle of an electronic device travels through the entire surface mount technology (SMT) equipment from being a printed circuit board to a finished electronic device.
The Internet of Things (IoT) is providing new opportunities to manufacturers of consumer electronics and wearable devices, such as smart watches that incorporate chips and flexible sensors. Breakthrough in designing these devices and manufacturing technology may have a great impact on the market. The number of systems connected over the internet have been increasing across the globe for the last decade.
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SMT manufacturing equipment enables PCB manufacturers to place more features on smaller boards without having to secure components with through-hole wire leads. SMT manufacturing equipment uses soldering and adhesive equipment to secure components directly to the surface of a printed circuit board.
The above factors are likely to drive the use of SMT equipment during the forecast period
SMT Equipment Market: Prominent Regions
Asia Pacific held a prominent share and is expected to maintain its dominance of the global market during the forecast period, as the region is the center of manufacturing electronic and semiconductors. Additionally, various SMT equipment manufacturers are continuously focusing on R&D activities in order to improve the equipment performance, thereby boosting the SMT equipment market in the region.
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SMT Equipment Market: Key Players
Key players operating in the global SMT equipment market are ASM Assembly Systems GmbH & Co. Kg, Cyberoptics Corporation, Electro Scientific Industries, Inc., Fuji corporation, Hitachi High-Technologies Corporation, Juki Corporation, Mycronic AB, Nordson (Asymtek) Corporation, Orbotech Ltd., Viscom AG, Panasonic Corporation, and Yamaha Motor Co., Ltd.
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