SMT Equipment Market Estimated to Cross $9.1B by 2031 with Increasing Use in Various Industries

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SMT (Surface Mount Technology) is gaining popularity for creating robust PCB assemblies among electronics manufacturers in order to meet requirements in various industries. The use of SMT lines in the manufacture of functional medical equipment and several other automotive electronics is propelling revenue growth of the SMT equipment market. The global market valuation is projected to surpass US$ 9.1 Bn by 2031, advancing at a CAGR of 4.9% during the forecast period of 2021–2031.

Rise in use of medical PCBs in future-ready medical devices offers value-grab opportunities for stakeholders in the SMT equipment market. Advancements in high-power PCB designs, supported by software technologies, are creating incremental avenues, note the analysts in an in-depth study on the SMT equipment market.

Click here to view the report "SMT Equipment Market Outlook 2031" from Transparent Market Research.

PTH (Plated-Through Holes) parts are being compared with SMT parts in terms of assembly techniques, power, performance, and price. This will help manufacturers find right candidates wherein SMT parts are specifically helpful for PCB designs.

Strides in the electronics sector and telecom sector in emerging economies, supported largely by favorable government policies, are expanding the sales prospects in the SMT equipment market. SMT lines are gathering traction for industrial manufacturing of textile, automotive, and chemicals.

Key Findings of SMT Equipment Market Study

• Adoption of SMT Components for Modern Medical Devices Catalyze Revenue Generation: SMT lines are gathering traction for PCBs for a number of common medical devices. Thus, med-tech companies have realized the benefits of SMT parts for the manufacture of electronics for a range of therapeutic and diagnostic devices such as pressure monitors, infusion fluid control devices, and CT scanning devices. In addition to the growing sales from the medical device manufacturing industry, the demand is also growing in smartphone and smart cards. The proliferating demand for end-use products is spurring the revenue growth of the SMT equipment market.
• Integration of SMT Lines with Smart Factories in Automotive to Spur Profitable Opportunities: The automotive electronics industry has generated vast interest in SMT equipment. SMT technology enables the simultaneous miniaturization and development of multifunction electronic parts for the automotive industry. The industry has become a target market for hybrid smart integrated manufacturing technologies, thereby bolstering the sales of products in the SMT equipment market, notes the TMR study.

SMT Equipment Market: Key Drivers

• The growing popularity of flex circuit in wearable electronics is underpinning R&D investments in the SMT equipment market. The adoption of SMT-based PCBs in the automotive, medical, and telecommunication offer several benefits to end users, such as reduced wiring errors and improved signal quality.
• The increasing trend of miniaturization of electronics is a key driver of the SMT equipment market.

SMT Equipment Market: Regional Growth Dynamics

• Asia Pacific is a highly lucrative SMT equipment market and is expected to witness massive avenues during the forecast period. Rise in sales of flex PCBs has bolstered the revenue growth of the Asia Pacific SMT equipment market.
• China, India, Taiwan, and Japan have been contributing sizable revenues. Rise in production of automotive electronics has fueled the revenue potential in these countries. SMT lines have generated massive interest in Industry 4.0 smart manufacturing for various industries.

SMT Equipment Market: Key Players

Some of the key players in the SMT equipment market are Orbotech, Juki Corporation, Hitachi High-Technologies Corporation, Fuji Machine Manufacturing, Viscom AG, Mycronic AB, ASM Assembly Systems, Nordson Corporation, and Cyberoptics Corporation.

Global SMT Equipment Market: Segmentation

SMT Equipment Market, by Equipment Type

• Inspection Equipment
• Placement Equipment
• Soldering Equipment
• Screen Printing Equipment
• Cleaning Equipment
• Others

SMT Equipment Market, by Component

• Passive Surface-mount Devices
• Transistor & Diodes
• Integrated Circuits

SMT Equipment Market, by Application

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