DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Surface Mount Technology Market by Equipment (Placement, Inspection, Soldering, Screen Printing, Cleaning, Repair & Rework), Application (Consumer Electronics, Automotive, Aerospace & Defense), and Geography - Global Forecast to 2022" report to their offering.
The surface mount technology (SMT) market is expected to grow at a CAGR of 8.9% between 2017 and 2022 to reach USD 5.42 billion by 2022.
The key driving factors for the growth of the surface mount technology market are the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market. However, the factors such as high investment cost for setting up of production units, and the high frequency and need for thermal management are the major factors restraining the growth of this market.
Placement equipment is expected to hold a major share of the market by 2022. Placement equipment is one of the most important parts of SMT manufacturing since it places the components reliably and accurately enough to meet the output requirements in an optimized manner. The SMT placement equipment with full component feeders accounted for about 50% of the total capital investment which is required for a medium-volume SMT manufacturing line.
The consumer electronics market is expected to grow at the highest rate between 2017 and 2022. The growing trend of miniaturization in consumer electronics, higher production speed, introduction of new products on a continuous basis, and increasing spending budgets on consumer electronics are the factors fuelling the growth of the SMT technology in the consumer electronics industry.
Surface mount technology market in APAC expected to grow at the highest rate during the forecast period
- Increased Demand for Miniaturized Consumer Electronics Products
- Increasing Adoption of Electric Vehicles
- High Investment Cost of Machinery for Setting Up Production Units
- High Frequency and Need for Thermal Management
- Rising Integration of Biometrics and Security in Consumer Electronics Devices and Medical Devices
- Increasing Demand for Led Lighting
- Emergence of New Assembly Techniques Such as 3d Printing and Embedded Components
- Challenges in Repair, Rework, and Reliability for SMT-Manufactured Pcbs
- ASM Assembly Systems GmbH & Co. Kg
- Cyberoptics Corporation
- Electro Scientific Industries, Inc.
- Fuji Machine Manufacturing Co., Ltd.
- Fuji Machine Mfg. Co., Ltd
- Hitachi High-Technologies Corporation
- Juki Corporation
- Mycronic AB
- Neoden Technology Co., Ltd
- Nordson Corporation
- Orbotech Ltd.
- Viscom AG
For more information about this report visit http://www.researchandmarkets.com/research/f7szb7/surface_mount