The surface mount technology (SMT) market is projected to grow from USD 5.8 billion in 2023 to USD 8.4 billion by 2028; it is expected to grow at a CAGR of 7.8% during the forecast period. The growing adoption of electric vehicles is one of the major drivers of the market. The major players in surface mount technology (SMT) market are Fuji Corporations (Japan), Nordson Corporation (US), Mycronic AB (Sweden), KLA Corporation (US), and Viscom AG (Germany) among others. These companies operate globally and provide comprehensive surface mount technology equipment. They rely on their R& D capabilities and a balanced product potfolio to gain significant market share.
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Fuji Corporation is a leading manufacturer of industrial robots. It offers machine tools and robotic mounters equipped with robotic transfer systems. The company operates through Robotics Solutions, Machine Tools, and Other segments. Under the Robotics Solution segment, it provides mounting electronic assembly machines with stick mounting and surface mount technology (SMT) equipment such as modular placing machines (high accuracy modular mounters, high-speed multipurpose mounters, and placement platforms) and printing machines (solder printers, intelligent & compact screen printers, and high-precision screen printers). It also provides SMT line management system and SMT process management system software.
Nordson Corporation manufactures and provides differentiated products and systems used to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. It operates through three segments: Industrial Precision Solutions, Advanced Technology Systems (ATS), and Medical and Fluid Solutions. The ATS segment is divided into Electronic Systems and Test and Inspection sub-segments offering SMT. The ATS segment is engaged in the surface treatment processes and offers automated and semi-automated dispensing systems, test and inspection of integrated circuits. The automated inspection system (AOI) systems is a subpart of electronic system, which comes under ATS.
Surface Mount Technology (SMT) Market by Equipment (Placement, Inspection, Soldering, Screen Printing Equipment, Cleaning Equipment, Repair & Rework Equipment), Component, Service, End User and Geography - Global Forecast to 2028
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