Surface Mount Technology Market Global Industry Overview By Size, Trends & Growth Forecast

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 24, 2021, 09:29 /Comserve / -- Surface Mount Technology Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The Surface Mount Technology Market is expected to register a CAGR of 7.46% over the forecast period from 2020 to 2025. There are many ways for mounting components onto a PCB. Although through-hole methods have been significantly prevalent in the past, surface mounted technology (SMT) brings significant advantages. In SMT, components are placed directly on the surface of a PCB to create what is known as a surface-mount device (SMD). Due to its effectiveness and efficiency, SMT has significantly replaced through-hole technology methods for manufacturing PCBs. However, both methods can be used on the same PCB. This is because some components are not suited to surface mounting. These components might include large transformers and heatsinked power semiconductors. SMT components are smaller in size compared to through-hole units as they have smaller leads or do not have any leads at all.

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- Most of the electronics are expected to be more compact, and there is an increase in demand for smaller units, where SMT makes this possible. But even though these units are not as bulky as older devices, there is a much higher component density, as well as more connections per component. This means that electronics can be more advanced and efficient than ever before, while the form factor is still as compact as possible. Fewer holes are required to be drilled into the boards, which leads to faster and more automated assembly processes, and the fact that components can be situated on either side of the circuit board simplifies things further. All of this results in less time required for setting up and production, a lower initial cost, reduced manufacture cost, and more efficient use of time.

Key Market Trends

Automotive is Expected to Witness Significant Growth

- The increasing usage of electric vehicles across the world is also creating significant opportunities for the surface mount technology market. In May 2020, Trackwise Designs announced that it had secured a production order based on its Improved Harness Technology (IHT), for delivery in mid-2020. In support of initial vehicle production activities, this order follows successful funded innovative production activities last year for this UK-based designer and electric car manufacturer. Recently in May 2020, Tesla has done a turnaround on its previous position on vehicle-to-grid technology. According to a press release by Tesla, they are already integrating V2G technology in the electrical architecture of the Model 3. The company is doing reverse engineering of the Model 3 charger, which was fully bidirectional. To complement this design, the two-way design is replicated three times across the same Printed Circuit Board (PCB) on the Model 3 charger.
- According to the European Free Trade Association, registrations of electric vehicles in Europe jumped 57.4% in the first quarter of 2020. As the electric cars primarily constitute motor controller circuitry built on Printed Circuit Boards (PCBs), it is further expected to drive the demand in the forecast period as surface mount technology is preferred for the assembly of these PCBs.

Asia Pacific is Expected to Witness Fastest Growth

- The market for surface mount technology is growing significantly in the Asia-Pacific region, mainly due to the presence of various PCB production facilities in the region. China is home to many PCB production facilities. AT & S's most significant production unit is located in Shanghai with a focus on multi-layer PCB. This is because the company's attention is on large volumes for mobile communications customers in China. Increasing smartphone adoption rates have made Asia-Pacific one of the largest mobile markets in the world. This is due to increasing population growth and urbanization. As per the GSM Association, more than 4 out of 5 connections will be smartphones by 2025. This trend is expected to increase the adoption of surface mount technology among consumer electronics in the region.

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- In December 2019, Nexperia, a manufacturer of discrete and MOSFET components and logic & analog ICs, announced that Wingtech Technology, a Chinese telecom and computer equipment manufacturer has officially obtained a controlling stake in Nexperia from Beijing Jianguang Asset Management Co. Ltd (JAC Capital). In June 2020, Nexperia launched the latest range of GaN FET devices equipped next-generation high-voltage GaN HEMT H2 technology in the Nexperia's proprietary CCPAK surface-mount packaging. Devices achieve superior on-state performance coupled with improved stability and simplify application designs due to their cascade configuration, which eliminates the requirement for complicated controls and drivers.
- With India's government increasing customs duty on the printed circuit board assembly (PCBA), the critical component of any smartphone from 10% to 20%, in February 2020, Apple's supplier Wistron announced to begin assembling PCBs for high-end iPhones. The assembling of PCBs is expected to start at Taiwanese manufacturer's new iPhone plant located in Bengaluru.

Competitive Landscape

The Surface Mount Technology market comprises several global and regional players such as Fuji Machine Manufacturing Co., Ltd., Yamaha Motor Co., Ltd., Panasonic Corporation, Mycronic AB, etc. who are vying for attention in a contested market space. The market is moderately fragmented and poses high barriers to entry for the new players.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the impact due to COVID-19

5 MARKET DYNAMICS

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