Albany, NY -- (SBWire) -- 04/13/2021 --Surface mount technology equipment facilitates widespread solution for different end use industry which include automotive, aerospace and defense, consumer electronics, healthcare and industrial among others one of the major factor encouraging the demand and high speed installation of surface mount technology equipment market is its operational effectiveness owing to cost effective processing. Growing usage of flex circuit in wearable electronics across various sector especially in smart phone and smart card industry is the primary factor predicted to foster the demand and innovation of surface mount technology market during the forecast period from 2018 to 2026.

By equipment type, the surface mount technology equipment market is segmented into placement equipment, inspection equipment, soldering equipment and cleaning equipment among others. Placement equipment held the largest market share in terms of revenue, followed by soldering equipment. The growing demand for printed circuit board in smartphones in order to fulfill the demand of smartphones is having a positive impact on the market for surface mount technology equipment market. Changes or modification made in the design of printed circuit board files will results in increasing in development cost and would lead to delay in production time. Hence, to address these issues, manufacturers are focusing on reducing these costs during the production process. This in turn has increased the installation of PCB SMT equipment. In addition, inspection equipment is bifurcated into AOI, AXI, and SPI. AXI device type, is expected to grow during the forecast period owing to increasing requirement to inspect double-sided solder joints and non-visible solder joints with exact traceability.

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The growth of the global surface mount technology equipment market is reliant on advancements in industrial manufacturing and analysis. The accuracy of electrical and electronic manufacturing has necessitated the use of the most meticulous technologies for viewing and analysis. Therefore, surface mount technology equipment is extensively used across the manufacturing sector. Despite increasing automation and intelligence in the manufacturing sector, manual intervention continues to be a critical part of the manufacturing cycle. Henceforth, use of surface mount technology equipment for ensuring closer analysis and viewing of electrical components has increased in recent years. For this reason, the global surface mount technology equipment market is projected to expand at a stellar rate.

The defense sector has become a stellar consumer of electronic equipment and technologies. The use of automated defense systems and surveillance devices for military operations has put pressure on the electronics industry to elevate its bar of quality within manufacturing. Therefore, surface mount technology equipment has become a necessity across the industrial sector. There is also growing apprehension amongst electronic researchers about mismatch of electrical components laid on a circuit. This factor has further prompted the electronics industry to use surface mount technology equipment.

The domain of industrial manufacturing is characterised by accuracy, meticulousness, and resilience. Research scientists and manufacturing staff acknowledge the impacts of errors in electronic manufacturing. Therefore, the industrial manufacturing sector is constantly deploying new technologies to evolve into a finished domain. This has also led to an increase in the adoption of surface mount technology equipment across leading industries.

Application of these mounts in the automotive and automobile industries has created room for growth across the market. Development of dedicated electronic manufacturing units for large companies and industries is a precursor to the growth and expansion of the global surface mount technology equipment market.

global surface mount technology equipment market

By end use industry, the global surface mount technology equipment market is segmented into automotive, aerospace and defense, consumer electronics, healthcare and industrial among others. Consumer electronics held the largest market share in terms of revenue in 2017, followed by industrial segment and is expected to remain the leading end use industry during the forecast period. Placement and soldering equipment technology is used in different consumer electronics manufacturing industry which in turn has increased application scope of the surface mount technology equipment market. Moreover, surface mount technology embedded cleaning equipment can be operated semi- automatically and manually. In addition, with the introduction of industrial devices and smart electronic devices, the market for SMT cleaning equipment is expected to increase due to growing adoption of cleaning equipment in their production line.

Healthcare is the foremost sector in triggering the growth prospect of surface mount technology equipment market globally. Penetration of electronics and automated products in healthcare industry drive the opportunity for surface mount technology equipment market in this segment. Additionally, minimum operating and maintenance cost and ease of operation are the primary factors behind this segment's huge demand. On the flip side, increase in high investment cost of machinery is expected to negatively influence the growth of global SMT equipment market.

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By geography, the surface mount technology market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and Latin America. In 2017, Asia Pacific dominated the market share in terms of revenue in 2017 and is anticipated to maintain its leading position during the forecast period from 2018 – 2026, followed by North America. With the increasing technological advancement, the application of printed circuit board in consumer electronics sector such as smart phones, tablet, and computer, Liquid Cristal Display (LCD) and -Light Emitting Diode (LED) among others is rapidly increasing across different industry verticals in Asia Pacific. China, Japan and South Korea is leading the market for printed electronics circuit board, followed by Thailand, Indonesia and India across Asia Pacific.

Some of the major players operating in the surface mount technology equipment market are Mycronic AB, Nordson Corporation, Viscom AG, Fuji Machine Mfg. Co., Ltd., ASML Holding, N.V., KLA-Tencor Corporation, Juki Corporation, Panasonic Corporation, Hitachi, Ltd., Orbotech Ltd, JUTZE Intelligence Technology Co., Ltd., Koh Young Technology, Mirtech, Omron Corporation, PARMI Corp., Test Research, Inc., and Yamaha Motor Co., Ltd. among others.

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