Global Surface Mount Technology (SMT) Equipment Market Gains Impetus from Rising Demand for Advanced Consumer Electronics
The continuous introduction of novel products and technologies, the growing trend of miniaturization, and demand for high production speed have led to the robust rise in demand from the surface mount technology (SMT) equipment market. Transparency Market Research, in a new report titled “Surface Mount Technology (SMT) Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” provides a holistic overview of the global SMT market, studying the factors influencing its growth trajectory.
Surface mount technology produces electronic circuits on which surface mount devices are placed or mounted. This technology is a lot different from the traditional thru-hole soldering method. This is because SMT uses different soldering principles and equipment and hence offers more electrical conductivity than its traditional thru-hold soldering counterpart. The global market for SMT equipment is strengthened by the rapid expansion of the electronics market, particularly in Asia Pacific.
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The report presents an executive-level blueprint of the global SMT equipment market, covering the growth drivers and restraints influencing the market’s growth trajectory. It states that the increasing demand for 3G telecom networks, consumer electronics, LED and CFL lighting, and LCD/LED television will fuel demand from the global SMT equipment market. The demand for surface mount technology equipment is also rising in response to the growing demand for more efficient and lightweight electronic devices. Over the next few years, the demand for surface mount technology is poised to surge exponentially in the medical and automotive sectors. The report highlights several similar factors that will fuel demand from the SMT equipment market over the forecast period.
Repairing products manufactured using SMT technology is difficult and requires highly skilled personnel and specialized tools. Additionally, SMT is also considered unsuitable for high-voltage and high-power electronic parts such as the power circuitry. Increasing packaging complexities, coupled with tightening soldering quality requirements, are increasing the demand for sophisticated inspection processes to ensure efficient product control and low overall repair costs. Additionally, the use of automatic optical inspection (AOI) and X-ray equipment is anticipated to increase in the forthcoming years, subsequently improving the quality of the packaging of surface mounted devices. Thus, it is important for enterprises operating in the market to focus on product innovation to enjoy sustainable growth over the report’s forecast period.
The global SMT equipment market is highly competitive in nature and has already reached maturity in developed regions. Owing to the presence of significant entry barriers, the margins in this industry are very low. The industry requires considerable investment in research, since the turnaround time of the technology is very low; thus, the enterprises operating in the market need to regularly invest in product innovation.
To present a comprehensive overview of the prevailing competitive landscape, the report profiles some of the most prominent companies operating in the market and segments the overall market based on product type and geography. In terms of products, the SMT equipment market is segmented into inspection equipment, soldering equipment, screen print equipment, cleaning equipment, rework and repair equipment, and placement equipment. The sub-segments within these broad categories are also studied in detail in the report. Regionally, Asia Pacific is expected to emerge as the fastest growing market for SMT equipment due to the rapidly rising semiconductor and electronics industry in the region.
Mr. Sudip .S
Transparency Market Research
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