Surface mount technology (SMT) is used for the manufacturing of printed circuit boards (PCBs). It uses different types of equipment such as soldering, inspection, and placement equipment to ensure the accuracy and flexibility of the PCB for the devices in which it is used. The devices produced by this process are known as surface mount devices (SMDs). The SMT technique is used exclusively for the manufacturing of electronic circuit boards as the components used for the PCB are smaller in size and offer a better level of performance. The surface mount technology market is expected to be worth USD 5.42 Billion by 2022, growing at a CAGR of 8.9% between 2016 and 2022. The growth of this market is propelled by the increased demand for miniaturized consumer electronics products and the increasing adoption of electric vehicles in the market.
Fuji Machine Manufacturing Co., Ltd.(Japan), Hitachi High-Technologies Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (U.S.), and Orbotech Ltd. (Israel) are some of the leading players in the surface mount technology market. Some of the key strategies adopted by the major players to gain a competitive edge in the market include new product launches and developments, agreements, partnerships, collaborations, and acquisitions.
Nordson Corporation (U.S.) was the leading company in the surface mount technology market in 2016. To maintain its position in the market, the company has been focusing on new product launches and developments. In December 2016, the company launched PureFlow Hoses with RediFlex II mounts that improve adhesive performance by reducing material degradation. The company is also focused on the acquisition strategy and in January 2017, it acquired ACE Production Technologies, Inc. (U.S.) to add selective soldering capabilities for electronics assembly customers.
Fuji Machine Manufacturing Co., Ltd. (Japan) is one of the major players in the surface mount technology market. The company has a strategically balanced product portfolio and a strong position in the market in China. It adopted inorganic growth strategies such as partnerships and agreements to gain a large share of the surface mount technology market. In November 2016, the company signed an agreement with Asahi Intecc Co., Ltd. (Japan) to form a capital business partnership for the joint development of the next generation of medical devices in the catheter intervention field. Furthermore, in April 2016, the company signed an agreement with Tower-Factory GmbH (Germany) for investing in a 34% share of the latter. Tower-Factory GmbH (Germany) provides intelligent storage solutions for the SMT market. Both the companies would reap the benefits of highly innovative products and the national and international markets.
Other companies involved in the development of surface mount technology systems include ASM Assembly Systems GmbH & Co. KG (Germany), CyberOptics Corporation (U.S.), Electro Scientific Industries Inc. (Oregon), Fuji Machine Manufacturing Co., Ltd.(Japan), Hitachi High-Technologies Corporation (Japan), Juki Corporation (Japan), Mycronic AB (Sweden), Nordson Corporation (U.S.), Orbotech Ltd. (Israel), and Viscom AG (Germany).
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
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