Global Surface Mount Technology Market is valued approximately USD 5.70 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.56% over the forecast period 2023-2030. The Surface Mount Technology (SMT) market is a segment of the electronics manufacturing industry that involves the assembly of electronic components onto printed circuit boards (PCBs) using surface mount technology. SMT has gained widespread adoption due to its advantages over traditional through-hole assembly methods, including higher component density, improved performance, and cost-effectiveness. The major driving factors for the Global Surface Mount Technology Market are Increasing demand for smaller, lighter, and more compact electronic devices, increasing adoption of smart phones and rising demand for consumer electronics. Moreover, rising introduction of advanced packaging technologies and advancements in pick-and-place machines is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
According to the GSM Association's projection that more than 4 out of 5 connections will be smartphones by 2025, there is a clear indication of the increasing prevalence of smartphones in the market. This trend is expected to have a positive impact on the adoption of Surface Mount Technology (SMT) in the consumer electronics sector. However, rapidly changing technology and the need for continuous investments in equipment and process upgrades of Surface Mount Technology stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Surface Mount Technology Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific has a dominant position in the SMT market, in 2022, driven by the presence of major electronics manufacturing hubs such as China, Taiwan, South Korea, and Japan. These countries have a strong ecosystem for electronic component manufacturing, contract electronics manufacturing services (EMS), and original equipment manufacturers (OEMs). The region benefits from cost advantages, skilled labor, and extensive production capabilities, making it a significant contributor to the SMT market. North America, is fastest growing market for SMT technology. The region is known for its advanced electronics industry, including the production of semiconductors, consumer electronics, automotive electronics, and aerospace components. The presence of major electronics manufacturers, EMS providers, and technological advancements drives the demand for SMT equipment and services in this region.
Major market player included in this report are:
- ASM Assembly Systems (formerly Siemens Electronics Assembly Systems)
- Panasonic Corporation
- JUKI Corporation
- Fuji Machine Manufacturing Co., Ltd.
- Mycronic AB
- Nordson Corporation
- KLA Corporation
- CyberOptics Corporation
- ASM Pacific Technology Ltd.
- Yamaha Motor Co., Ltd.
Recent Developments in the Market:
- In May 2022, Summit Interconnect's announced the acquisition of Royal Circuit Solutions. It has expanded the company's presence in the global market and capabilities in the printed circuit board (PCB) industry. Summit has become one of the largest privately held PCB producers in North America. This acquisition is expected to have a positive impact on the demand for Surface Mount Technology (SMT) in the region.
Global Surface Mount Technology Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, End-User Industry, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
- Passive Components
- Active Components
By End-User Industry:
- Consumer Electronics
- Automotive
- Industrial Electronics
- Aerospace and Defense
- Healthcare
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Surface Mount Technology Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Surface Mount Technology Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Surface Mount Technology Market, by End-User Industry, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Surface Mount Technology Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Surface Mount Technology Market Dynamics
- 3.1. Surface Mount Technology Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for compact electronic devices
- 3.1.1.2. Rising demand for consumer electronics
- 3.1.1.3. Increase in adoption of smartphones
- 3.1.2. Market Challenges
- 3.1.2.1. Rapidly changing technology
- 3.1.2.2. Rising need for continuous investments in equipment and process upgrades
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising introduction of advanced packaging technologies
- 3.1.3.2. Advancements in pick-and-place machines
Chapter 4. Global Surface Mount Technology Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Surface Mount Technology Market, by Component
- 5.1. Market Snapshot
- 5.2. Global Surface Mount Technology Market by Component, Performance - Potential Analysis
- 5.3. Global Surface Mount Technology Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 5.4. Surface Mount Technology Market, Sub Segment Analysis
- 5.4.1. Passive Components
- 5.4.2. Active Components
Chapter 6. Global Surface Mount Technology Market, by End-User Industry
- 6.1. Market Snapshot
- 6.2. Global Surface Mount Technology Market by End-User Industry, Performance - Potential Analysis
- 6.3. Global Surface Mount Technology Market Estimates & Forecasts by End-User Industry 2020-2030 (USD Billion)
- 6.4. Surface Mount Technology Market, Sub Segment Analysis
- 6.4.1. Consumer Electronics
- 6.4.2. Automotive
- 6.4.3. Industrial Electronics
- 6.4.4. Aerospace and Defense
- 6.4.5. Healthcare
Chapter 7. Global Surface Mount Technology Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Surface Mount Technology Market, Regional Market Snapshot
- 7.4. North America Surface Mount Technology Market
- 7.4.1. U.S. Surface Mount Technology Market
- 7.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. End-User Industry breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Surface Mount Technology Market
- 7.5. Europe Surface Mount Technology Market Snapshot
- 7.5.1. U.K. Surface Mount Technology Market
- 7.5.2. Germany Surface Mount Technology Market
- 7.5.3. France Surface Mount Technology Market
- 7.5.4. Spain Surface Mount Technology Market
- 7.5.5. Italy Surface Mount Technology Market
- 7.5.6. Rest of Europe Surface Mount Technology Market
- 7.6. Asia-Pacific Surface Mount Technology Market Snapshot
- 7.6.1. China Surface Mount Technology Market
- 7.6.2. India Surface Mount Technology Market
- 7.6.3. Japan Surface Mount Technology Market
- 7.6.4. Australia Surface Mount Technology Market
- 7.6.5. South Korea Surface Mount Technology Market
- 7.6.6. Rest of Asia Pacific Surface Mount Technology Market
- 7.7. Latin America Surface Mount Technology Market Snapshot
- 7.7.1. Brazil Surface Mount Technology Market
- 7.7.2. Mexico Surface Mount Technology Market
- 7.8. Middle East & Africa Surface Mount Technology Market
- 7.8.1. Saudi Arabia Surface Mount Technology Market
- 7.8.2. South Africa Surface Mount Technology Market
- 7.8.3. Rest of Middle East & Africa Surface Mount Technology Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. ASM Assembly Systems (formerly Siemens Electronics Assembly Systems)
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. Panasonic Corporation
- 8.3.3. JUKI Corporation
- 8.3.4. Fuji Machine Manufacturing Co., Ltd.
- 8.3.5. Mycronic AB
- 8.3.6. Nordson Corporation
- 8.3.7. KLA Corporation
- 8.3.8. CyberOptics Corporation
- 8.3.9. ASM Pacific Technology Ltd.
- 8.3.10. Yamaha Motor Co., Ltd.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption