Market Overview
Market Research Future (MRFR) released report on the global surface mount technology equipment market 2020. The report details forces that are likely to impact the market and provide comprehensive analysis on the impact of COVID 19 on the surface mount technology market. As per MRFR assessment, the surface mount technology equipment market can rise at of 8% CAGR across the review period 2016 to 2022. By 2022, the surface technology market can value at USD 4 Bn. The market is observed to experience decent surge due to the pent-up demand for smart gadgets. The growing preference for miniaturized electronics products that offer great accuracy can contribute to the expansion of the surface mount technology equipment market in the years to come. Constant replacement of traditional through-hole solution with surface mount technology is trending across different regions. This is expected to support the rise of the surface mount technology equipment market in the analysis period. The growing application of surface mount technology equipment across over different verticals, such as consumer electronics, automotive, aerospace, and healthcare among others is likely to earn high revenue for the surface mount technology in the near future. The high-end use of surface mount technology equipment across the automotive industry can also support the expansion of the market.
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Competitive Landscape
Mycronic AB (Sweden), CyberOptics Corporation (U.S.), Fuji Machine Manufacturing Co., Ltd.(Japan), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), Hitachi High-Technologies Corporation (Japan), and Assembly Systems (Germany) are some reputed players that are operating in the surface mount technology global market, listed by MRFR.
Market Segmentation
The segment analysis of the global surface mount technology market is done by components, equipment, and end user industries.
The equipment based segments of the surface mount technology market are Coating equipment, Pick and place, Solder equipment, Rework and repair equipment, and cleaning agents. The end use industries based segments of the surface mount technology market are automotive, medical, telecommunication, and consumer electronic. The increased demand for surface mount technology in automobile sector can support the rise of the market in the analysis period. The components based segments of the surface mount technology market are transistor & diodes, passive surface mount devices, and integrated circuits. The integrated circuits segment can churn high turnover for the global market in the near future.
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Regional Analysis
In North America, the surface mount technology equipment market can thrive due to the increased application of Electric cars. These cars used a greater number of electric components over traditional vehicles, thus increased sales of surface mount technology equipment can win high profits for the market in the years to come. The high degree of efficacy offered by surface mount technology in handling components that are complex and prevent malfunction can support the expansion of the surface mount technology in the years to come. In Europe, the growing automotive field and escalated production of electric vehicles can cause augmentation of the regional market in the years ahead. The rise in usage of surface mount technology across the booming consumer electronics due to high need for miniaturized solutions by different consumers can support the expansion of EU surface technology market. In APAC, the rise in demand for printed circuit boards due to their increased installation in smartphones and smart cards reflects the positive impact of regional market. On the contrary, the surge in surface mount technology equipment cost can restrain the rise of the regional market. In addition, the incompatibility of surface mount technology equipment with high power and high voltage availing power circuit can limit the expansion of the regional market.
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