Surface Mount Technology Equipment Market Summary
As per MRFR Analysis, the Surface Mount Technology Equipment Market is poised for significant growth, driven by the increasing demand for compact electronics and advancements in automation. The market size was estimated at 5.09 USD Billion in 2024 and is projected to reach 10.5 USD Billion by 2035, reflecting a compound annual growth rate (CAGR) of 6.86% from 2025 to 2035. Key sectors contributing to this growth include consumer electronics, automotive, and telecommunications, which are increasingly adopting surface mount technology for efficient production.
Key Market Trends & Highlights
The Surface Mount Technology Equipment Market is witnessing transformative trends driven by technological advancements and market demands.
- Consumer Electronics sector valued at 2.02 USD Billion in 2024, expected to double to 4.07 USD Billion by 2035.
- Automotive segment projected to grow from 1.05 USD Billion in 2024 to 2.11 USD Billion by 2035.
- Telecommunications industry to increase from 0.89 USD Billion in 2024 to 1.79 USD Billion by 2035.
- Asia-Pacific region leads with a market value of 2.3 USD Billion in 2024, expected to reach 4.5 USD Billion by 2035.
Market Size & Forecast
2024 Market Size: USD 5.09 Billion
2035 Market Size: USD 10.5 Billion
CAGR (2025-2035): 6.86%
Largest Regional Market Share in 2024: Asia-Pacific
Major Players
Kurtz Ersa, Fuji Machine Manufacturing, Mirtec, Nordson, Siplace, MPM, Koh Young Technology, Juki Corporation, Asymtek, Universal Instruments, Samsung Electric, ZEVAC, Yamaha Motor, Sekisui Chemical
Key Surface Mount Technology Equipment Market Trends Highlighted
The Surface Mount Technology Equipment Market is currently experiencing several important trends, driven by factors such as the growing demand for electronic devices and technological advancements in manufacturing processes. The rapid adoption of Internet of Things (IoT) devices and smart technology is a significant market driver, as it requires efficient assembly solutions to meet production demands. Additionally, the trend towards miniaturization of electronic components has propelled the innovation in surface mount technology equipment, as manufacturers strive to create smaller, more efficient devices without compromising performance.
Opportunities in this market can be explored through increased investments in automation and Industry 4.0 initiatives. Manufacturers are looking to optimize their production lines with advanced robotics and machine learning, leading to improvements in efficiency and quality control. The quest for higher yield rates and reduced operational costs presents numerous opportunities for companies that invest in state-of-the-art surface mount technology equipment. Moreover, green manufacturing practices are gaining traction globally, encouraging the development of eco-friendly SMT solutions, which could open new avenues for growth. Recent times have also seen significant developments in materials and processes utilized in surface mount technology.
The introduction of new conductive materials and soldering techniques is shaping the market, allowing manufacturers to enhance product reliability and performance. Furthermore, the push towards sustainability has led to the adoption of lead-free solders and environmentally friendly manufacturing practices. Overall, the Surface Mount Technology Equipment Market is evolving rapidly, influenced by technological innovations and growing sustainability concerns, creating a dynamic landscape for industry stakeholders.
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Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surface Mount Technology Equipment Market Drivers
Increasing Demand for Miniaturization of Electronic Components
The Surface Mount Technology Equipment Market Industry is experiencing significant demand for smaller and more compact electronic devices. As consumer electronics evolve, manufacturers are prioritizing miniaturization to enhance device performance and aesthetics, which directly drives the need for advanced surface mount technology equipment. According to a report by the International Telecommunications Union, the global mobile phone subscriptions reached over 8 billion, indicating a substantial rise in electronics consumption.
This trend is propelled by leaders like Samsung and Apple, who incorporate more compact designs with innovative features into their products. Their research and development initiatives accelerate the adoption of surface mount technology, hence bolstering the market growth for relevant equipment globally.
Growth of the Automotive Electronics Sector
The rise in automotive electronics, particularly for electric vehicles, is a key driver of the Surface Mount Technology Equipment Market Industry. With increasing regulations on emissions and a shift toward electric mobility, the automotive sector is seeing a rise in the use of advanced electronic systems. The European Automobile Manufacturers Association reported that electric vehicle sales in Europe surged by over 100% year-on-year, showcasing the growing demand for electronic components in vehicles. Established automotive companies like Tesla and General Motors are integrating sophisticated electronic systems that require surface mount technology equipment for their production, thus fueling market expansion globally.
Expansion in Consumer Electronics Market
The consumer electronics market is experiencing robust growth, contributing significantly to the Surface Mount Technology Equipment Market Industry. As home automation and smart devices become increasingly popular, manufacturers are investing in advanced surface mount technology to meet the rising demand. A report from the Consumer Technology Association indicated that the global revenue for consumer electronics is projected to exceed 440 billion USD, highlighting the growing significance of electronics in daily life. Industry leaders such as Sony and LG are continually releasing innovative products that incorporate surface mount technology, which enhances their efficiency and performance, further driving the need for specialized manufacturing equipment across the globe.
Surface Mount Technology Equipment Market Segment Insights:
Surface Mount Technology Equipment Market Application Insights
The Surface Mount Technology Equipment Market has been segmented into various applications, showcasing diverse opportunities across several industry verticals. By 2024, the market is expected to be valued at 5.09 USD Billion, with significant contributions from areas like Consumer Electronics, Automotive, and Telecommunications, which are driving market growth due to technological advancements and increased demand. In the Consumer Electronics sector, which is forecasted to generate revenue of 1.52 USD Billion in 2024, the growing adoption of smart devices and innovative electronics continuously boosts the need for Surface Mount Technology.
As consumers increasingly prefer products with advanced features and compact designs, this segment stands as a crucial pillar in both market revenue and innovation. The Automotive application, valued at 1.15 USD Billion in 2024, further demonstrates its importance as the industry shifts towards electric and autonomous vehicles. This transition necessitates a variety of electronic components, thus propelling the demand for advanced surface mount technology equipment that enhances vehicle reliability and performance. Telecommunications, holding a value of 1.21 USD Billion in 2024, remains impactful as the need for high-speed connectivity and infrastructure expansion continues globally, particularly with the rollout of 5G technology.
Aerospace is also on a growth track, with its market application expected to reach 0.86 USD Billion by 2024. This sector’s focus on safety and performance drives the need for reliable components, making surface mount technology indispensable for the production of aerospace electronic systems. Industrial applications, although comparatively smaller with an expected valuation of 0.35 USD Billion in 2024, still present growth potential due to the increasing automation and smart manufacturing processes within various industries. In terms of market segmentation, Consumer Electronics, Automotive, and Telecommunications dominate due to their significant revenues and market relevance, making them critical areas for further investment and innovation in the Surface Mount Technology Equipment Market.Â
As industries evolve and technology continues to pave the way for new applications, these segments are likely to witness substantial growth, shaping the overall landscape of the market and driving its expansion through 2035.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surface Mount Technology Equipment Market Product Type Insights
The Surface Mount Technology Equipment Market is steadily evolving, with a notable focus on its Product Type category, which encompasses key segments such as Pick and Place Equipment, Soldering Equipment, Inspection Equipment, and Screen Printers. In 2024, the overall market is expected to reach a valuation of 5.09 USD Billion, demonstrating an upward trend that reflects the increasing demand for advanced electronic manufacturing solutions. The Pick and Place Equipment segment plays a vital role as it ensures precise and efficient placement of components on PCBs, significantly impacting production speed and accuracy.
Soldering Equipment remains essential for ensuring durable and reliable connections on electronic boards, while Inspection Equipment helps maintain high quality by enabling thorough checks of assembled products. Screen Printers are critical for applying solder paste accurately, further enhancing production efficiency. In conjunction with factors such as growing automation in electronic manufacturing and the rising trend of smart electronics, these segments drive the growth of the Surface Mount Technology Equipment Market, showcasing significant potential and opportunities for advancement within the industry.
Surface Mount Technology Equipment Market End Use Insights
The Surface Mount Technology Equipment Market is projected to reach a valuation of 5.09 USD Billion in 2024, reflecting a strong demand driven by advances in manufacturing technologies and increased electronics production across various sectors. The End Use segment of this market includes three key categories: Original Equipment Manufacturers (OEMs), Electronics Manufacturing Services (EMS), and the Aftermarket. OEMs play a crucial role in driving innovations by integrating advanced surface mount technologies into their products, which caters to the growing consumer electronics market.
EMS providers contribute significantly by offering nimble production capabilities and efficient assembly processes, meeting the rising need for customized electronic solutions. The Aftermarket segment is vital for maintaining and upgrading existing equipment, providing essential support to technological advancements. Together, these categories illustrate the comprehensive nature of the Surface Mount Technology Equipment Market segmentation, while the ongoing demand for miniaturization and enhanced functionality continues to boost market growth.
Furthermore, collaboration between these segments paves the way for innovation and cost-effective solutions, contributing to the overall expansion of the Surface Mount Technology Equipment Market industry.
Surface Mount Technology Equipment Market Component Type Insights
The Surface Mount Technology Equipment Market has been organized into various component types, with prominent categories including Resistors, Capacitors, Diodes, and Integrated Circuits (ICs). Expected to reach a valuation of 5.09 USD Billion by 2024, this market is on a growth trajectory driven by rising demand for compact and efficient electronic devices. Resistors and Capacitors play critical roles in managing electrical currents, making them indispensable in virtually every electronic application. Diodes, known for their role in rectification and signal modulation, further highlight the importance of reliable component types in electronic designs.
ICs, which integrate multiple functions into a single chip, dominate the market due to their efficiency and space-saving capabilities. The overall Surface Mount Technology Equipment Market data reflects a substantial anticipated expansion as industries increasingly incorporate these components for advanced electronics, thus driving enhancements in fields ranging from telecommunications to consumer electronics. Current market trends suggest that technological advancements and increasing automation in electronics manufacturing bolster the demand for sophisticated Surface Mount Technology Equipment, indicating significant growth opportunities ahead in the Global market industry.
Surface Mount Technology Equipment Market Regional Insights
The Surface Mount Technology Equipment Market showcases significant growth across various regions, reflecting a trend towards advanced manufacturing processes. In 2024, North America leads the market with a valuation of 1.52 USD Billion, highlighting its technological advancements and major investments in electronics manufacturing. Following closely is the Asia Pacific region, valued at 2.73 USD Billion, which dominates due to its robust manufacturing capabilities and demand for consumer electronics. Meanwhile, Europe, valued at 1.17 USD Billion, is driven by a strong automotive industry pushing for innovative electronics.
South America is estimated at 0.25 USD Billion and shows potential growth facilitated by expanding markets, whereas the Middle East and Africa, valued at 0.42 USD Billion, are gradually adopting surface mount technology to enhance production efficiency. These regions contribute to the overall growth of the Surface Mount Technology Equipment Market, as increasing automation and the push for miniaturization in electronics pave the way for enhanced market statistics and development opportunities. The diverse regional dynamics showcase varying paces of adoption, with North America and Asia Pacific holding majority shares owing to their established infrastructure and consumer demand.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Surface Mount Technology Equipment Market Key Players and Competitive Insights:
The Surface Mount Technology Equipment Market exhibits a dynamic and competitive landscape characterized by rapid technological advancements, evolving consumer preferences, and growing demand for electronic devices. Key players in this market are striving to enhance their product offerings and expand their geographical reach to maintain a competitive edge. Competitive insights reveal that these companies are not only focusing on innovation in equipment and technology but are also investing in research and development to optimize manufacturing processes and improve operational efficiencies. Factors such as strategic partnerships, mergers, and acquisitions are shaping the competitive dynamics, resulting in a market that is becoming increasingly integrated and complex.
ASM Pacific Technology stands out in the Surface Mount Technology Equipment Market with its commitment to innovation and excellence. The company possesses a strong presence in the market due to its extensive portfolio of advanced manufacturing solutions tailored for the electronics industry. Known for its cutting-edge technologies, ASM Pacific Technology leverages its expertise in automation and precision to deliver high-quality surface mount technology equipment. The company’s strengths lie in its ability to adapt to market trends and customer needs, providing a comprehensive range of products that enhance production efficiencies. Furthermore, ASM Pacific Technology has established a solid global footprint, allowing it to tap into diverse markets and respond promptly to shifts in demand.
Yamaha Motor Co holds a significant position in the Surface Mount Technology Equipment Market, backed by its reputation for engineering excellence and innovation. The company offers an array of products designed to optimize surface mount technology applications, including advanced placement machines and inspection systems. Yamaha Motor Co has cultivated strong market presence through its commitment to quality and reliability, which has fostered long-term relationships with customers worldwide. The company’s strengths include a robust supply chain management system and a diverse product lineup that caters to various manufacturing requirements. Yamaha Motor Co has strategically engaged in mergers and acquisitions to enhance its technological capabilities and broaden its market reach, further solidifying its competitive position within the global arena of surface mount technology equipment.
Key Companies in the Surface Mount Technology Equipment Market Include:
Surface Mount Technology Equipment Industry Developments
Recent developments in the Surface Mount Technology Equipment Market reveal significant advancements as companies adapt to the fast-evolving electronics manufacturing landscape. ASM Pacific Technology continues to enhance its product offerings, aiming to improve automation processes. Yamaha Motor Co is expanding its presence in the sector by launching innovative placement machines to cater to rising demand. Hanwha Precision Machinery has recently focused on increasing production capabilities to meet the growing requirements of electric vehicle manufacturers. In terms of mergers, Speedline Technologies has been actively sought after for partnerships, reflecting an intensified competitive environment in September 2023, as industry players aim to strengthen their portfolios. Juki Corporation is also exploring acquisitions to gain strategic advantages in automation technology.Â
The market has seen substantial valuations with companies like CyberOptics Corporation reporting growth driven by advanced inspection systems. In addition, Koh Young Technology has enhanced its 3D inspection solutions, contributing to a more efficient manufacturing process. Overall, these developments signify a noteworthy evolution within the Surface Mount Technology Equipment Market, driven by innovation and strategic collaborations among key industry players.
Surface Mount Technology Equipment Market Segmentation Insights
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Surface Mount Technology Equipment Market Application Outlook
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Consumer Electronics
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Automotive
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Telecommunications
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Aerospace
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Industrial
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Surface Mount Technology Equipment Market Product Type Outlook
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Pick and Place Equipment
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Soldering Equipment
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Inspection Equipment
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Screen Printers
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Surface Mount Technology Equipment Market End Use Outlook
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Surface Mount Technology Equipment Market Component Type Outlook
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Resistors
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Capacitors
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Diodes
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ICs
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Surface Mount Technology Equipment Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2018
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4.79(USD Billion)
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Market Size 2024
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5.09(USD Billion)
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Market Size 2035
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10.5(USD Billion)
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Compound Annual Growth Rate (CAGR)
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6.86% (2025 - 2035)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2024
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Market Forecast Period
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2025 - 2035
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Historical Data
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2019 - 2024
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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ASM Pacific Technology, Yamaha Motor Co, Hanwha Precision Machinery, Speedline Technologies, Juki Corporation, CyberOptics Corporation, Nordson Corporation, Saki Corporation, Mirtec, Dek, Takatori Corporation, Philips, Essemtec, Universal Instruments, Koh Young Technology
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Segments Covered
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Application, Product Type, End Use, Component Type, Regional
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Key Market Opportunities
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Increased demand for miniaturization, Growth in automotive electronics, Rise of IoT devices, Advancements in AI technology, Expansion in renewable energy electronics
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Key Market Dynamics
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Increasing demand for electronics, Technological advancements in automation, Rising miniaturization of components, Growth in automotive electronics, Expanding consumer electronics market
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Surface Mount Technology Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
By 2035, the market is projected to reach a valuation of 10.5 USD Billion.
The market is anticipated to grow at a CAGR of 6.86% from 2025 to 2035.
The Consumer Electronics segment is the largest, valued at 1.52 USD Billion in 2024.
The Asia Pacific region holds the highest market value at 2.73 USD Billion in 2024.
The Automotive segment is expected to grow from 1.15 USD Billion in 2024 to 2.36 USD Billion in 2035.
Key players include ASM Pacific Technology, Yamaha Motor Co, Hanwha Precision Machinery, and others.
The Telecommunications segment is projected to be valued at 2.51 USD Billion by 2035.
North America is anticipated to reach a market value of 3.12 USD Billion by 2035.
The market may encounter challenges such as supply chain disruptions and evolving technological requirements.
The market may face challenges such as supply chain disruptions and increased competition among key players.
