Surface Mount Technology Equipment Market: In-Depth Qualitative Insights and Historical Data

Increasing consumer demand for smart packaging is fueling the market for consumer electronics. Additionally, in medical segment, some of the instruments that utilizes surface mount technology are medical cabinet and micro dialysis medical toolkit. Owing to increasing adoption of these two toolkit across the globe, the surface mount technology equipment market is expected to grow significantly during forecast period. Industrial internet of things with new capability to directly control the physical world, including the factories, infrastructure that define the modern landscape. This factor is expected to enhance the demand of global surface mount technology equipment market in coming years. With the growing technological advancement, the application of surface mount devices in different automobile is growing rapidly. Furthermore, the use of these systems helps in increasing the efficiency of the operations, reduces the production time and helps in providing increased safety to the workers which is resulting into improved product quality and affectivity of surface mounted devices and increasing productivity of manufacturers.

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By geography, Asia Pacific dominated the global surface mount technology equipment market in 2017 with more than 35% market share and is expected to maintain its leading position during the forecast period, followed by North America. Across Asia Pacific, China and India are dominating the surface mount technology equipment market, followed by Japan. With the increasing technological advancement, the application of printed electronics circuit in different application which includes display systems, mobile phones, computers, and healthcare instruments among others is increasing. This in turn is fueling the demand and application of surface mount technology equipment in Asia Pacific.

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Some of the leading players of 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. The companies involved in this market are concentrating on research and development activities along with mergers and acquisitions, and product innovation to strengthen their foothold in this market. Moreover, strategic partnerships and agreements with other firms is another key business strategies adopted by the surface mount technology equipment companies across different regions. For instance, In December 2016, Juki Corporation launched a new Long Board SMT Placement Machine JX-350 with innovative placement speed and better component capability for LED manufacturing industry.