The surface mount technologies market revenue assumed by the end of 2022 was US$ 4.6 Bn. The surface mount technology market is expected to reach US$ 15.5 Bn by 2030, as it is estimated to grow at a CAGR of 11.8 % for 2022-2030.

Surface Mount Technologies Market Overview:

Surface mount technology (SMT) is a method of mounting electrical components directly to the surface of a printed circuit board (PCB). Electronic devices made using surface mount technology are called surface mount devices. This technology differs significantly from traditional soldering through-hole technology. SMT uses comparatively different soldering equipment and principles that offer more electrical conductivity and reliability compared to through-hole soldering. SMT is currently the most commonly used method for low-cost and high-production consumer electronic assemblies. The components of surface mount technology consist of passive surface mount devices, transistors and diodes, and integrated circuits. The initial cost of these materials is lower. Their application results in better mechanical efficiency under shock and vibration conditions (partly due to lower mass and partly due to fewer cantilevers).

Surface Mount Technologies market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Surface Mount Technologies market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In June 2020 - Optronic ordered a surface mount machine, the MY300, from Mycronic AB, making several significant investments to improve the quality of their PCB line. Optronic is also a supplier to Mycronic, which manufactures all cameras for Mycronic surface mounting machines.
• In April 2020 - Yamaha Motor Co., Ltd. has released the new YRM20 surface mounter. Built on a next-generation platform that implements an intelligent factory, the high-efficiency premium modular mounter combines with a new high-speed feeder to provide high mounting performance by utilizing a high-speed multi-purpose rotary head.

Major Market Segments Covered in Surface Mount Technologies Industry Research:

Market Key Players:
Cicor Group, Hitachi High Technologies Corporation, Valtronic, Adolfo Juri Elettronica Industriale, ASM Assembly Systems GmbH & Co. KG, CyberOptics, FUJI MACHINE MFG.CO., LTD, Orbotech Ltd, Nordson Corporation, Allen Organ Company LLC, Omron Corporation, Panasonic Corporation, Universal Instruments Corporation, KOHYOUNG TECHNOLOGY Inc.

By Type:

• Inspection Equipment
• Placement Equipment
• Soldering Equipment
• Screen Printing Equipment
• Cleaning Equipment
• Rework and Repair Equipment

By Application:

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

By Region:

East Asia was the region estimated to hold the largest market share in 2021 of 24.5%, and North America is estimated to be the fastest-growing region for the surface mount technology market.

East Asia dominates the market for surface mount technology because of fast industrialization, a growing population, a thriving economy, the existence of leading SMT players, and the rising trend of miniaturization. The countries in this region produce and export a large amount of electrical goods. The majority of electronics firms use surface mount technology for the mass manufacturing of electrical gadgets.

In North America, because of growing digitization and an expanding electronics industry, demand is increasing. With rising demand for electronic items ranging from smartphones, medical devices, and devices to wearables, laptops, PCs, and other consumer appliances, electronic device makers throughout the region are increasingly relying on SMT to streamline manufacturing.

Due to these reasons, North America is estimated to be a fast-growing market with a CAGR of 10.1% for the forecast period.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Driver: 

The consumer electronics industry is a constantly evolving industry, with new innovations and technologies constantly emerging to provide consumers with advanced features such as fingerprint sensors in mobile and smart TVs. The increasing demand for miniaturized products has led to the development of smaller electrical components that occupy less space. This is only possible if the device's hardware components, such as a PCB, are small in size and can run smoothly while integrating multiple components. Surface mount technology facilitates smaller, more portable and lightweight electronic devices as it helps to use and assemble much smaller components. The demand for smaller and thinner consumer electronic devices can be met using surface mount technology. You can assemble components very compactly on a printed circuit board (PCB) using the available space in the most optimal way. Additionally, unlike traditional through-hole technology, the devices are lightweight as no extra wiring and soldering are required.

The SMT method allows two layers of the PCB to be used for assembly and can reduce the final PCB area of the same circuit by up to 50%. The reduced size of electronic components enables high packaging densities. As a result, miniaturized electronic components can reduce circuit size by 30% compared to conventional technologies. In addition, the demand for miniaturization in the electronics market and the increasing complexity of devices are driving higher component densities in all PCB assemblies. Therefore, increasing demand for miniaturization of electronic devices is driving the growth of the SMT market.

Restraint: 

The design of electronic devices is a complex process as there are many factors to consider while designing electronic circuits, especially in surface mount technology. Factors to consider while designing a device include thermal management and stress on the PCB due to high-frequency applications, coefficient of thermal expansion (CTE) mismatch. CTE helps us understand how the size of an object changes with temperature. Additionally, factors to consider when designing for high-frequency applications such as telecommunications and consumer electronics include the impedance of the signal lines in the package, the crosstalk noise between these lines, and the inductance interconnects on the PCB. As chip power used in electronic circuits using surface mount technology increases, managing thermal requirements in the limited space inside a system becomes difficult. All factors together restrain the surface mount technology market growth.

Opportunity:

LEDs have become an alternative light source to traditional incandescent and fluorescent lights. The lifetime and electrical efficiency of LED lights are much higher than incandescent bulbs and are more efficient than fluorescent bulbs. The electronics manufacturing industry is reaping the benefits of LED's features such as small size and low power consumption. Compared to conventional lighting technologies, LED components provide high brightness, power efficiency and low carbon footprint. Due to these factors, various government agencies are adopting LED lighting for installation in public places and government offices.

LEDs are more cost-effective than traditional light sources, and automated SMT assembly of LED components results in high-quality LED devices. Most SMT placement equipment can place multiple components on a circuit board at one time. Automating these equipment and reducing errors during manufacturing is driving the growth of the SMT market, helping speed up production and reduce labor costs. Due to the growing demand for LED lighting, the surface mount technology market is also expected to grow in the near future.

Challenge: 

SMT-manufactured PCBs have revolutionized electronics manufacturing due to their ease of construction and higher component density, which allows for more components to be placed in a smaller area, allowing electronic devices to be miniaturized. These SMT manufacturing devices are smaller, have more features, and are cheaper. However, these high-density components create challenges for repair and rework on PCB boards in case of failure. Conventional soldering techniques are useless for board rework and require special techniques used for rework, such as non-contact methods, to prevent further damage to the assembly. These are combined with computer control or precision microscopy to ensure accuracy, but introduce more cost and complexity in the process. Thus, these factors pose major challenges to the repair or rework of surface mount technologies manufactured using highly complex electronic devices.

Surface Mount Technologies Market report scope:

Key Takeaways from this Surface Mount Technologies Report

• Estimate Surface Mount Technologies market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Surface Mount Technologies market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Surface Mount Technologies market?

The Surface Mount Technologies Market is growing at a CAGR of 11.8% During Forecast Period.

What are the key types of Surface Mount Technologies market?

Inspection Equipment, Placement Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Rework and Repair Equipment

What are the key applications of Surface Mount Technologies market?

Consumer Electronics, Telecommunications, Aerospace & Defense, Automotive, Medical, Industrial, Energy & Power Systems

Who are the key players in Surface Mount Technologies market?

Cicor Group, Hitachi High Technologies Corporation, Valtronic, Adolfo Juri Elettronica Industriale, ASM Assembly Systems GmbH & Co. KG, CyberOptics, FUJI MACHINE MFG.CO., LTD, Orbotech Ltd, Nordson Corporation, Allen Organ Company LLC, Omron Corporation, Panasonic Corporation, Universal Instruments Corporation, KOHYOUNG TECHNOLOGY Inc.