Surface Mount Technology Equipment Market – Overview
The Surface Mount Technology Equipment (SMT) Global Market is projected to earn USD 4 billion in earnings by 2022 while expanding at an 8 % CAGR in the coming years. The extended growth observed in the commercial electronic equipment segment has positively motivated the need for surface mount technology equipment. Reports that evaluate the semiconductors and electronics industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects.
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The need to condense the components of electronic equipment to make them sleeker and improve performance is expected to strengthen the surface mount technology equipment market’s progress. Moreover, the reduced initial costs are expected to induce the development of the market further. The increased proclivity for smart gadgets is expected to create advantageous odds for the expansion of the market in the years ahead.
Surface Mount Technology Equipment Market Key players
The well-known competitors in the surface mount technology equipment market are Nordson Corporation (U.S.), Fuji Machine Manufacturing Co., Ltd. (Japan), CyberOptics Corporation (U.S.), Assembly Systems (Germany), Hitachi High-Technologies Corporation (Japan), Mycronic AB (Sweden), and Orbotech Ltd. (Israel).
Surface Mount Technology Equipment Market Industry Updates:
Mar 2019 Sanyo Denki Philippines, Inc., a Japanese technology firm has inaugurated a research and product development center in Subic Bay Freeport. The firm, which makes power, cooling, and servo systems at its factories. Its Subic processes comprise of very efficient automated production lines such as the surface mount technology (SMT), and a section for developing and designing cooling fans.
Surface Mount Technology Equipment Market Segmental Analysis
The segmentation analysis of the surface mount technology equipment market is carried out on the basis of equipment, end-user industries, components, and regions. On the basis of equipment, the segments in the surface mount technology equipment market are coating equipment, cleaning agents, pick and place, solder equipment, rework and repair equipment. Based on end-user industries, the surface mount technology equipment market is segmented into consumer electronics, telecommunication, automotive and medical. On the basis of components, the surface mount technology equipment market is segmented into integrated circuits and transistor & diodes. The regions covered in the purview of the surface mount technology equipment market are North America, Asia Pacific, Europe and the rest of the world.
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Surface Mount Technology Equipment Market Detailed Regional Analysis
The regional study of the surface mount technology is conducted for regions such as Asia Pacific, North America, Europe and the rest of the world. It has been detected that the Asia Pacific region is leading the growth in the surface mount technology market followed by the Latin American region. The Asia Pacific region is powered by the presence of countries like India, China, and Japan in the surface mount technology market owing to the greater availability of skilled labor and growing penetration of high-tech devices which need miniaturization. Nations like China and India who have high population are experiencing increased consumer electronics demand which is boosting the development of the surface mount technology market.
Surface Mount Technology Equipment Market Competitive Analysis
The absorbed expenses in the market are readily dispensed with, opening more room for the development in the market. The companies functioning in the market are persistently taking on the hindrances to progress and are forming strategies that are projected to guide to a beneficial outcome on the market’s advancement. The advancement of the market is upgraded chiefly due to the reduction in promotional and miscellaneous expenses. An intensified growth pace is observed due to the productive effect exerted by the market forces both externally and internally. The progress capability of the market is bolstered by the accretive nature of the assets available in the market. The market is projected to accomplish an absolute lead in the market place owing to improved strategies in specific areas. Additionally, the deals being coined in the market are likely to additionally inspire the development of the market in the impending years.
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