SMT Surface Mount Equipment Market Report 2025 (Global Edition)

Global SMT Surface Mount Equipment Market Report 2025 Market Size Split by Type (Inspection Equipment, Placement Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, Repair &...

SMT Surface Mount Equipment Market Report Description

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SMT Surface Mount Equipment Market Insights Video

Competitive Landscape of the SMT Surface Mount Equipment Market

The competitive landscape of the SMT Surface Mount Equipment market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized SMT Surface Mount Equipment companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

February 2023: Yamaha Motors introduced the YRM20DL, a new surface mounter. This premium, highly efficient modular system features a dual-lane conveyor that enhances productivity per unit area by minimizing transport losses. (Source: https://global.yamaha-motor.com/news/2023/0201/yrm.html )

Top Companies Market Share in SMT Surface Mount Equipment Industry: (In no particular order of Rank)

• CyberOptics (U.S.)
• KLA Corporation (Israel)
• Hitachi High-Tech India Private Limited (Japan)
• Nordson Corporation (U.S.)
• FUJI CORPORATION (Japan)
• Electronic Manufacturing Services Group
• Inc. (Germany)
• MKS Instruments (U.S.)
• SMTnet (U.S.)
• Heller Industries
• Inc. (U.S.)
• JUKI CORPORATION (Japan)
• Koh Young Technology
• Inc. (South Korea)
• Kulicke and Soffa Industries
• Inc. (Singapore)
• Naprotek
• LLC. (U.S.)
• Nikon Metrology NV (U.K.)
• Omron Corporation (Japan)
• Panasonic Corporation of North America (Japan)
• SAKI CORPORATION (Japan)
• Teradyne Inc. (U.S.)
• Universal Instruments Corporation (U.S.)
• Comet Group (Germany)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the SMT Surface Mount Equipment Market

Which Region Dominates the SMT Surface Mount Equipment Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. The expansion of 5G networks in North America requires the installation of new infrastructure and devices that demand precise and reliable SMT equipment for assembly. Currently, 5G networks in the U.S. cover over 325 million people, making it the most extensive 5G network globally. According to Ookla, the U.S. leads in 5G adoption, with over half of 5G-ready phones frequently using a 5G network. At present, 59% of smartphone subscriptions in North America are 5G, with 53% of U.S. subscribers and 37% of Canadian subscribers expressing satisfaction with their 5G services. This expansion of 5G technology drives the need for advanced electronic components, increasing the demand for SMT equipment capable of supporting high-frequency and high-speed applications. https://www.thalesgroup.com/en/markets/digital-identity-and-security/mobile/inspired/5G https://www.ericsson.com/en/reports-and-papers/mobility-report/closer-look/north-america

Which Region is Expanding at the Fastest CAGR?

The automotive industry in the Asia-Pacific region is increasingly incorporating advanced electronic systems, including driver-assistance technologies, infotainment systems, and components for electric vehicles. This trend is boosting the demand for SMT equipment that can deliver high precision and reliability in automotive electronics. In April 2024, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 2,358,041 units. For the fiscal year 2024, the total production of these vehicles amounted to 28,434,742 units. During the third quarter of the 2023-24 fiscal year, production totaled 7.13 million units across passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles. Additionally, by 2030, the Indian government has pledged that 30% of new vehicle sales in India will be electric. https://www.ibef.org/industry/india-automobiles

The current report Scope analyzes SMT Surface Mount Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America SMT Surface Mount Equipment Market

According to Cognitive Market Research, the global SMT Surface Mount Equipment market size was estimated at USD 5914.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 2365.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the SMT Surface Mount Equipment market with a market size of USD 1866.6 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. The nation's growing automotive electronics sector, driving the market.
• The Canada SMT Surface Mount Equipment market had a market share of USD 283.9 million in 2024 and is projected to grow at a CAGR of 11.0% during the forecast period. In Canada, the demand for SMT Surface Mount Equipment Market is driven by the country's rapid expansion of 5G infrastructure.
• The Mexico SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 215.2 million in 2024.

Europe SMT Surface Mount Equipment Market

According to Cognitive Market Research, the global SMT Surface Mount Equipment market size was estimated at USD 5914.6 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 1774.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.

• The United Kingdom SMT Surface Mount Equipment market had a market share of USD 298.1 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. In the UK, SMT Surface Mount Equipment sales witness an upswing due to the growing electronics manufacturing sector, particularly in the aerospace and defense industries.
• The France SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 163.2 million in 2024.
• According to Cognitive Market Research, the German SMT Surface Mount Equipment market size was valued at USD 351.3 million in 2024 and is projected to grow at a CAGR of 10.7% during the forecast period. In Germany, Snowboarding surged due to the country's strong industrial base and commitment to Industry 4.0 initiatives.
• The Italy SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 152.6 million in 2024.
• The Russian SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 275.0 million in 2024.
• The Spain SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 9.6% during the forecast period with a market size of USD 145.5 million in 2024
• The Luxembourg SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 55.0 million in 2024.
• The Portugal SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 37.2 million in 2024.
• The Greece SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 21.2 million in 2024.
• Rest of Europe's SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 275.0 million in 2024.

Asia Pacific SMT Surface Mount Equipment Market

According to Cognitive Market Research, the global SMT Surface Mount Equipment market size was estimated at USD 5914.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1360.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.0% from 2024 to 2031.

• According to Cognitive Market Research, the China SMT Surface Mount Equipment market size was valued at USD 612.1 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. Snowboarding surged in China due to the country's continuous investments in advanced manufacturing technologies, and the rising production of consumer electronics.
• The Japan SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 12.5% during the forecast period, with a market size of USD 187.7 million in 2024.
• The India SMT Surface Mount Equipment market had a market share of USD 163.2 million in 2024 and is projected to grow at a CAGR of 15.8% during the forecast period. In India, the demand for the SMT Surface Mount Equipment Market is driven by government initiatives to boost domestic manufacturing under programs like "Make in India," and the growing electronics and automotive sectors.
• The South Korean SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 13.1% during the forecast period, with a market size of USD 136.0 million in 2024.
• The Australian SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 13.7% during the forecast period, with a market size of USD 70.7 million in 2024.
• The South East Asia SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 15.0% during the forecast period, with a market size of USD 93.8 million in 2024.
• The Rest of Asia Pacific SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 13.8% during the forecast period, with a market size of USD 96.5 million in 2024.

South America SMT Surface Mount Equipment Market

According to Cognitive Market Research, the global SMT Surface Mount Equipment market size was estimated at USD 5914.6 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 295.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil SMT Surface Mount Equipment market size was valued at USD 126.5 million in 2024 and is projected to grow at a CAGR of 12.0% during the forecast period. Snowboarding flourished in Brazil due to the country's expanding consumer electronics sector.
• Argentina's SMT Surface Mount Equipment market had a market share of USD 49.6 million in 2024 and is projected to grow at a CAGR of 12.3% during the forecast period. In Argentina, the demand for the SMT Surface Mount Equipment market is driven by the country’s growing automotive and industrial sectors, which require advanced electronic components and manufacturing processes to support innovation and production efficiency.
• Colombia's SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 26.32 million in 2024.
• Peru's SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 24.25 million in 2024.
• Chile's SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 21.29 million in 2024.
• The Rest of Latin America's SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 47.61 million in 2024.

Middle East and Africa SMT Surface Mount Equipment Market

According to Cognitive Market Research, the global SMT Surface Mount Equipment market size was estimated at USD 5914.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 118.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.

• The GCC Countries SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 12.5% during the forecast period, with a market size of USD 50.6 million in 2024. In GCC countries, the demand for Snowboarding Market is driven by the region's rapid expansion of telecommunications infrastructure and the increasing adoption of advanced technologies such as 5G.
• The Egypt SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 12.4 million in 2024.
• The South African snowboarding market is projected to witness growth at a CAGR of 12.7% during the forecast period, with a market size of USD 18.69 million in 2024. In South Africa, the demand for the SMT Surface Mount Equipment market is driven by the expansion of mobile networks and the rising adoption of smart devices.
• The Turkey SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 10.17 million in 2024.
• The Nigeria SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.8% during the forecast period, with a market size of USD 12.42 million in 2024.
• The Rest of the MEA SMT Surface Mount Equipment market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 13.96 million in 2024.

SMT Surface Mount Equipment Market Analysis

SMT Surface Mount Equipment Market Type Segment Analysis

According to Cognitive Market Research, Inspection Equipment stands out as the dominant Services over the projected period. Inspection equipment is utilized to identify and detect defects in the manufacturing process, including issues such as misplaced or missing components, solder defects, and other problems that can impact a device's functionality. To enhance production efficiency, cut costs, and maintain consistent quality, manufacturers are increasingly turning to automated inspection systems. The integration of artificial intelligence (AI) and machine learning (ML) technologies into these systems has enabled them to self-adjust and optimize performance, significantly improving accuracy and speed. This equipment plays a crucial role in ensuring the quality and reliability of electronic components and printed circuit boards (PCBs) throughout the manufacturing process.

Placement Equipment emerges as the fastest-growing Services in the market. This leading position can be attributed to the growing demand for advancements in product technology, reliability, responsiveness, and inspection quality. Additionally, the increasing need for such equipment across sectors like telecommunications, automotive, consumer electronics, computing, and storage is expected to drive the segment's growth throughout the forecast period. Placement equipment is a vital component of the SMT (Surface Mount Technology) market. These machines are essential for the precise and efficient placement of electronic components onto printed circuit boards (PCBs). Different types of placement equipment, including pick-and-place machines, screen printers, solder paste inspection systems, and dispensing machines, are integral to the SMT manufacturing process, as they directly influence the quality and efficiency of PCB assembly.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of SMT Surface Mount Equipment Industry. Request a Free Sample PDF!

SMT Surface Mount Equipment Market Services Segment Analysis

According to Cognitive Market Research, design stands out as the dominant Service over the projected period. The segment's growth is driven by the rising demand for PCB design, electronic circuit design, and design for manufacturing (DFM) services in consumer electronics. Additionally, design service providers assist manufacturers in optimizing their designs to reduce costs, thereby lowering overall manufacturing expenses and boosting profitability. Designing encompasses creating the layout and design of printed circuit boards (PCBs) used in electronic devices. PCB design is a crucial part of the SMT process, as it directly impacts the quality and functionality of the final product. This process involves selecting suitable components and determining their placement on the PCB, requiring a thorough understanding of each component's electrical properties and their interactions.

Supply Chain Services emerge as the fastest-growing Services in the SMT Surface Mount Equipment market. Supply chain services encompass a range of activities, including sourcing and procurement, inventory management, logistics and transportation, and warehousing and distribution. The process begins with component sourcing, where the focus is on identifying and selecting components from manufacturers and distributors based on specifications, quality, and cost-effectiveness. Once components are sourced, procurement involves placing orders, negotiating prices, and managing inventory levels to ensure that necessary components are available when required. This stage also includes verifying that components meet quality standards. The final phase of the supply chain involves delivery, ensuring that components arrive on time and in the correct quantities at the manufacturing facility. Additionally, supply chain services may cover logistics and distribution management, including customs clearance and transportation.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

SMT Surface Mount Equipment End Use Industry Segment Analysis

SMT Surface Mount Equipment Market Services Segment Analysis

According to Cognitive Market Research, Consumer Electronics stands out as the dominant Service over the projected period. SMT is extensively utilized in the manufacturing of consumer electronics due to its advantages over traditional through-hole technology, including smaller form factors, quicker production times, and enhanced efficiency. SMT is crucial in the production of mobile devices, smart wearables, televisions, gaming consoles, and home appliances. The compact size of SMT components enables the creation of smaller, lightweight devices that are more portable. SMT's efficiency supports rapid, high-volume production, allowing automated assembly lines to manage large quantities of PCBs and scale up production. Additionally, SMT facilitates the integration of multiple components onto a single PCB, which reduces the overall size and weight of devices, enhancing their portability and convenience for users.

Industrial emerges as the fastest-growing Services in the SMT Surface Mount Equipment market. SMT is employed in the production of automation equipment, medical devices, power electronics, and photovoltaic systems, including robots and control systems. The compact size and high performance of SMT components make them well-suited for these applications. Additionally, the growing demand for high-performance electronics across various industrial sectors, such as control systems, sensors, and communication devices, is driving the adoption of SMT. Compared to traditional through-hole components, SMT offers superior performance and reliability, which is particularly valuable in industrial settings. SMT is favored in industrial automation manufacturing for its capability to handle a diverse range of components, including small and complex types such as BGAs, CSPs, and QFNs, which are commonly used in these applications.

• Consumer Electronics
• Telecommunication
• Aerospace & Defence
• Automotive
• Medical
• Industrial
• Energy & Power Systems
• Others

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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