Global Surface Mount Technology Market Size study & Forecast, by Component (Passive Components, Active Components), by End-User Industry (Consumer Electronics, Automotive, Industrial Electronics, Aerospace and Defense, Healthcare) and Regional Analysis, 2

Global Surface Mount Technology Market Size study & Forecast, by Component (Passive Components, Active Components), by End-User Industry (Consumer Electronics, Automotive, Industrial Electronics, Aerospace and Defense, Healthcare) and Regional Analysis, 2023-2030

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

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

Companies Mentioned
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.

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