Surface Mount Technology Market Valued to Reach USD $8.69 Billion by 2029 at 9.2% CAGR

 Get 20% Off Market Intelligence Reports With Code ONLINE20 — Track Global Tariffs, Economic Shifts, and Sector Transformations

 

 What Is the Expected Market Growth Rate for the Surface Mount Technology Market?
 The surface mount technology market size has grown strongly in recent years. It will grow from $5.68 billion in 2024 to $6.11 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to miniaturization of electronic devices, advancements in component packaging, increased efficiency in mass production, higher component density, improved electrical performance.
 
 The surface mount technology market size is expected to see strong growth in the next few years. It will grow to $8.69 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to rise of Internet of things (IoT), flexible and wearable electronics, increased adoption of advanced materials, integration of artificial intelligence (AI), electric vehicle (EV) manufacturing. Major trends in the forecast period include advancements in package-on-package (PoP) technology, 5G technology implementation, technological advancements in pick-and-place systems, rise of smart manufacturing and industry 4.0, lead-free soldering technologies.
 
 Claim your free report sample now:
 https://www.thebusinessresearchcompany.com/sample.aspx?id=10576&type=smp
 
 Which Key Growth Contributors Will Drive the Surface Mount Technology Market in the Next Decade?
 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.
 
 How Is the Surface Mount Technology Market Divided by Type and Application?
 The surface mount technology market covered in this report is segmented — 
 
 1) By Equipment: Placement, Inspection, Coating Equipment, Solder Equipment, Cleaning Agents, Rework And Repair Equipment
 2) By Components: Transistor And Diodes, Integrated Circuits
 3) By Industry Vertical: Telecommunication, Consumer Electronics, Automotive, Aerospace And Defense, Healthcare
 
 Subsegments:
 1) By Placement: Pick And Place Machines, Die Bonding Machines, Wire Bonding Machines 
 2) By Inspection: Automated Optical Inspection (AOI), X-Ray Inspection Systems, 3D Solder Paste Inspection 
 3) By Coating Equipment: Conformal Coating Machines, Dispensing Systems, Coating Application Equipment 
 4) By Solder Equipment: Reflow Ovens, Wave Soldering Machines, Selective Soldering Equipment 
 5) By Cleaning Agents: Solvent-Based Cleaners, Aqueous Cleaners, No-Clean Flux 
 6) By Rework And Repair Equipment: Soldering Stations, Desoldering Tools, Hot Air Rework Stations 
 
 
 What Are the Key Trends Shaping the Surface Mount Technology Market?
 Major companies operating in the surface mount technology market are developing innovative products with advanced technologies, such as internet of things (IoT) integration, which involves embedding connectivity features into electronic components, enabling seamless communication and data exchange for enhanced device functionality and monitoring capabilities. For instance, in December 2022, Linx Technologies, a part of TE Connectivity, launched the ANT-GNL1-nSP, a surface-mount embedded GNSS antenna. The antenna supports GPS, Galileo, GLONASS, Beidou, and QZSS in the L1/E1/B1 bands. It exhibits notable performance in a compact size of 9.6mm x 8.4mm x 0.9mm, features linear polarization, and has an omnidirectional radiation pattern. The antenna is designed for reflow-solder mounting and is especially well-suited for small devices in the growing internet of things market. 
 
 Which Companies Hold the Largest Share in the Surface Mount Technology Market?
 Major companies operating in the surface mount technology market include Hitachi High-Technologies Corporation, Panasonic Holdings Corporation, Assembleon Automation Hanwha Group, Fuji Corporation, Yamaha Motor Co Ltd, Nordson Corporation, Kulicke and Soffa Industries Inc., Speedline Technologies, ASM Assembly Systems GmbH & Co KG, Universal Instruments, Rayming Technology, Essemtec AG, CyberOptics Corporation, Juki Corporation, Aurotek Corporation, Electro Scientific Industries Inc., GPD Global, Europlacer, Koh Young Technology Inc., Electronic Manufacturing Services Group Inc., Viscom AG, Mycronic AB, SSM MYDATA Services, Zhejiang Neoden Technology Co Ltd, Kasdon Electronics Limited, Saki Corporation, DDM Novastar, Onetech Smt Solutions Private Limited 
 
 Get the full surface mount technology market report here:
 https://www.thebusinessresearchcompany.com/report/surface-mount-technology-global-market-report
 
 Which Region Is Projected to Account for the Largest Share of the Surface Mount Technology Market?
 Asia-Pacific was the largest region in the surface mount technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global surface mount technology market report during 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, Africa.
 
 Contact Us:
 The Business Research Company: https://thebusinessresearchcompany.com/ 
 
 Americas +1 310–496–7795
 Asia +44 7882 955267 & +91 8897263534
 Europe +44 7882 955267 
 Email: info@tbrc.info 
 
 Follow Us On:
 LinkedIn: https://in.linkedin.com/company/the-business-research-company