December 11, 2023 05:00 ET | Source: Transparency Market Research Transparency Market Research
Wilmington, Delaware, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The worldwide surface mount technology equipment market is projected to surge significantly at a CAGR of 5.9% between 2023 and 2031. As per Transparency Market Research, sales of surface mount technology equipment are expected to reach approximately US$ 9.1 billion by 2031. Automatic Chip Mounter
A prominent driver involves the growing emphasis on environmental sustainability within manufacturing processes. SMT equipment manufacturers are innovating to minimize waste, reduce energy consumption, and employ eco-friendly materials, aligning with global sustainability goals.
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The emergence of advanced inspection and testing technologies is reshaping the market. These technologies, including artificial intelligence-driven inspection systems and non-destructive testing methods, enhance quality control and production yield, ensuring defect-free electronic assemblies.
The market is witnessing a surge in demand for flexible and scalable manufacturing solutions. Manufacturers are developing modular SMT equipment, enabling easy reconfiguration and adaptation to varying production needs, providing cost-effective and versatile solutions for diverse industries.
Key Findings of the Market Report
Surface Mount Technology Equipment Market Growth Drivers & Trends
Global Surface Mount Technology Equipment Market: Regional Profile
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Surface Mount Technology Equipment Market: Competitive Landscape
The surface mount technology equipment market features intense competition among key players like ASM Assembly Systems, Panasonic Corporation, and Mycronic AB. These industry leaders leverage technological innovation and R&D investments to offer high-precision placement systems, soldering equipment, and inspection solutions.
Emerging contenders such as Nordson Corporation and Hanwha Techwin Co., Ltd. compete vigorously by focusing on advanced automation, process optimization, and tailored solutions.
The market's competitiveness is marked by strategic collaborations, product launches, and geographic expansions, as companies vie for market share in a sector driven by the growing demand for efficient, high-speed, and precision manufacturing solutions.
Some prominent manufacturers are as follows:
Surface Mount Technology Equipment Market: Key Segments By Equipment Type
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