Surface Mount Technology Global Market Report 2023

May 20, 2023

Major players in the surface mount technology market are Fuji Corporation, Mycronic AB, ASM Assembly Systems GmbH & Co. KG, Nordson Corporation, Juki Corporation, CyberOptics Corporation, Electro Scientific Industries Inc.

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Mount Technology Global Market Report 2023" - https://www.reportlinker.com/p06480028/?utm_source=GNW , Hitachi High-Technologies Corporation, Hanwha Group, Zhejiang Neoden Technology Co. Ltd., Electronic Manufacturing Services Group Inc., Kasdon Electronics Limited, Kulicke and Soffa Industries Inc., Panasonic Holdings Corporation, Heller Industries Inc., and Saki Corporation.The global surface mount technology market is expected to grow from $4.73 billion in 2022 to $5.23 billion in 2023 at a compound annual growth rate (CAGR) of 10.65%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $7.59 billion in 2027 at a CAGR of 9.76%.The surface mount technology market consists of revenues earned by entities by providing printed circuit board (PCB) assembly and inspection services.The market value includes the value of related goods sold by the service provider or included within the service offering.The surface mount technology market includes sales of monolithic ceramic capacitors, tantalum capacitors, and thick film resistors.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Surface mount technology refers to a component assembly method for printed circuit boards in which the components are linked and attached utilizing batch solder reflow operations to the surface of the printed circuit board. This technique is utilized in the manufacture of electronic devices and provides advantages such as decreased component sizes, less interference coupling, and a high degree of precision and reproducibility.Asia-Pacific was the largest region in the surface mount technology market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the surface mount technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of equipment for surface mount technology are placement, inspection, coating equipment, solder equipment, cleaning agents, and rework and repair equipment.Placement equipment refers to special equipment for surface assembly technology.They are available for transistors and diodes, and integrated circuits. They are used in various industries such as telecommunications, consumer electronics, automotive, aerospace and defense, and healthcare.Increasing electric car sales is significantly contributing to the growth of the surface mount technology market going forward.An electric car refers to a vehicle that is powered totally or partially by electricity from a battery that must be recharged.In electric vehicles, surface-mount technology (SMT) is used to install electrical components directly onto the surface of a printed circuit board (PCB).SMT provides greater mechanical durability under stress and vibration, which is critical in the automobile sector.For instance, according to April 2023 report published by the International Energy Agency, a France-based intergovernmental organization that provides policy recommendations, analysis, and data on the entire global energy sector, the global sales of electric vehicles are expected to grow from 10 million in 2022 to 14 million in 2023. Therefore, the increasing electric car sales will drive the surface mount technology market.Product innovations are the key trend gaining popularity in the surface mount technology market.Major companies operating in the surface mount technology market are focusing on integrating new technologies to aid in the production quality and efficiency of surface mount technology.For instance, in June 2020, Z-AXIS Inc. a US-based electronics production enterprise released a brand new product (NPI) line for surface mount technology (SMT) printed circuit board (PCB) assembly. The NPI line lets the enterprise execute prototype printings without interfering with the schedules of its surface mount technology production lines. It also can be applied for rapid manufacturing builds to satisfy last-minute client requirements. The NPI production line includes the latest upgraded Mycronic-(MY-DATA)-MY9E pick-and-location machinery and a Speedline MPM/SPM semi-automatic stencil printing machine.In November 2021, Nano Dimension Ltd., a US-based 3D printed electronics company acquired Essemtec AG for an undisclosed amount. The acquisition added surface mount technology to Nano Dimension’s portfolio of offerings and Essemtec’s advanced software and the combination of the technologies will have a huge impact and transformative momentum in the area of 3D electronic printing and assembling. Essemtec AG is a Switzerland-based automation machinery manufacturer and produces surface mount technology production equipment.The countries covered in the surface mount technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The surface mount technology market research report is one of a series of new reports that provides surface mount technology market statistics, including surface mount technology industry global market size, regional shares, competitors with a surface mount technology market share, detailed surface mount technology market segments, market trends and opportunities, and any further data you may need to thrive in the surface mount technology industry. This surface mount technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06480028/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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