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Surface Mount technology (SMT) Equipment Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Surface Mount Technology (SMT) Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UNITED KINGDOM, September 9, 2024 /EINPresswire / -- The surface mount technology (SMT) equipment market has experienced robust growth in recent years, expanding from $5.33 billion in 2023 to $5.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increased environmental regulations, growth in smart home devices, growth in the semiconductor industry, rise in demand for high-performance computing, and increased demand for smart wearables.
What Is The Estimated Market Size Of The Global Surface Mount Technology (SMT) Equipment Market And Its Annual Growth Rate?
The surface mount technology (SMT) equipment market is projected to continue its strong growth, reaching $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to an increase in automotive electronics, rising adoption of mobile devices, increasing production of medical devices, increasing in smart home devices, and rising investment in renewable energy.
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Growth Driver of The Surface Mount Technology (SMT) Equipment Market
The rising demand for electronic devices is expected to propel the growth of the surface mount technology (SMT) equipment market going forward. Electronic devices are equipment that operate on electrical energy, using electronic circuits to manipulate currents and signals for various applications and specific tasks. The advancement in semiconductor technology has led to the creation of smaller, more powerful, and energy-efficient components, making electronic devices more portable and convenient. Surface mount technology (SMT) equipment enables the efficient and precise assembly of electronic components onto PCBs, contributing to the production of sophisticated electronic devices used in various industries ranging from consumer electronics to aerospace and healthcare.
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Which Market Players Are Driving The Surface Mount Technology (SMT) Equipment Market Growth?
Key players in the surface mount technology (SMT) equipment market include Panasonic Corporation, Fuji Corporation, KLA Corporation, Omron Corporation, MKS Instruments, Teradyne Inc., Nordson Corporation, Nordson Corporation, Kulicke and Soffa Industries Inc., Mycronic AB, Koh Young Technology Inc., Universal Instruments Corporation, Heller Industries Inc., Keystone Electronics, Naprotek LLC, Hitachi High-Tech India Private Limited.
What Are The Key Trends That Influence Surface Mount Technology (SMT) Equipment Market Share Analysis?
Major companies operating in the surface mount technology (SMT) equipment market are developing intelligent, advanced process control SMT machines to enhance precision, efficiency, and reliability in the manufacturing process. Intelligent advanced process control (APC) SMT machines are sophisticated equipment used to manufacture electronic circuits. These machines integrate artificial intelligence (AI), machine learning, and advanced sensor technologies to optimize the placement and soldering of components onto printed circuit boards (PCBs).
How Is The Global Surface Mount Technology (SMT) Equipment Market Segmented?
1) By Equipment: Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Repair Equipment, Rework Equipment
2) By Component: Passive Components, Active Components
3) By Service: Designing, Test And Prototyping, Supply Chain Services, Manufacturing, Aftermarket Services
4) By End-User: Telecommunication, Consumer electronics, Aerospace and defense, Automotive, Other End-Users
Geographical Insights: Asia-Pacific Leading The Surface Mount Technology (SMT) Equipment Market
Asia-Pacific was the largest region in the surface mount technology (SMT) equipment market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the surface mount technology (SMT) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Surface Mount Technology (SMT) Equipment Market Definition
Surface mount technology (SMT) is a method used for producing electronic circuits in which the components are mounted directly onto the surface of printed circuit boards (PCBs). SMT equipment refers to the various machines and tools used in the assembly and production process of these circuits. The primary purpose of SMT equipment is to automate the assembly of electronic components onto PCBs, ensuring precision, efficiency, and reliability in the manufacturing process.
Surface Mount Technology (SMT) Equipment Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global surface mount technology (SMT) equipment market report covering trends, opportunities, strategies, and more
The Surface Mount Technology (SMT) Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on surface mount technology (SMT) equipment market size, surface mount technology (SMT) equipment market drivers and trends, surface mount technology (SMT) equipment market major players, surface mount technology (SMT) equipment competitors' revenues, surface mount technology (SMT) equipment market positioning, and surface mount technology (SMT) equipment market growth across geographies. The surface mount technology (SMT) equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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