Global SMT Equipment Market Augments due to Growing Telecommunication Sector
In the past two decades, the unstoppable growth of sectors such as telecommunication, consumer applications, and computing, and the growing number of users of printed circuit boards (PCBs) have led to a surge in the global surface mount technology (SMT) equipment market. Surface mount technology equipment comprises machines that are used to perfectly place the surface-mount devices (SMDs) on PCBs. These systems are also called pick-and-place machines or P&Ps. These robotic machines work with high precision and high speed. Thus, they are used for placing a variety of electronic components. Surface mount technology (SMT) equipment is used in sectors such as automotive, medical, industrial, telecommunication, and military.
Growing Telecommunications Sector to Fuel Global SMT Equipment Market
The key market drivers for the global surface mount technology equipment market are the influx of new products in the market, high speed of production, and miniaturization. As the demand for mobile phones, 3G networks, LEDs and CFL lighting units, LCD/LED television sets, and such other consumer electronics continues to grow at an exponential rate, it is also fueling the global SMT equipment market. Analysts predict that the urgent need for durable and lightweight electronic devices in the automotive and medical fields is expected to encourage the global surface mount technology equipment market to reach newer heights.
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Lack of Skilled Labor to Restrain Global SMT Equipment Market
Products manufactured using SMT technology are quite complicated and thus require skilled labor and tools for any repairs in case of damage. SMT technology can’t be used for high-voltage or high-power electronic parts such as power circuitry. These factors are likely to be major restraints on the global surface mount technology equipment market.
Demand from Defense and Medical Fields to Fuel Global SMT Equipment Market
Analysts have estimated that growing usage of AOI (automatic optical inspection) and X-ray inspection equipment will lead to better packaging of surface mounted devices. A huge opportunity for the global surface mount technology equipment market is the increasing number of defense electronics applications. The usage of software in surface mount technology processes is also gaining considerable momentum, which is enhancing the efficiency of several processes.
Innovative Approaches will Win Players Greater Market Share
The global surface mount technology equipment market is exceptionally competitive, mature, has low profit margins, and comes with high entry barriers. It also demands a heavy investment in research and development with an approach that offers quick solutions. Most of the players in the global surface mount technology equipment market are constantly looking at ways in which they can innovate, as the technology turnaround time is exceptionally low.
Asia Pacific to be the Fastest Growing Region in Global SMT Equipment Market
The global surface mount technology equipment market is segmented on the basis of geography and product. On the basis of product type, the global surface mount technology equipment market is segmented into soldering equipment (wave oven and reflow oven), screen print equipment (automatic, semiautomatic, and manual), placement equipment (low speed, high speed, and medium speed), inspection equipment (laser, X-ray, and optical), cleaning equipment and rework and repair equipment (semiautomatic and manual).
Based on geography, the global surface mount technology market is segmented into Asia Pacific, Europe, North America, and Rest of the World. Out of these, Asia Pacific is expected to grow at a rapid pace due to the increasing usage of semiconductors and growing electronics manufacturing in this region.
Some of the key players in the global surface mount technology equipment market are ASM Assembly Systems GmbH & Co. KG, Orbotech Ltd, Viscom AG, Teradyne Inc., Electro Scientific Industries Inc., Panasonic Corporation, Assembléon Netherlands BV, Teradyne Inc., Nordson Corporation, Koh Young Technology Inc., and PPT Vision Inc.
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Surface Mount Technology (SMT) Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023