Press release
SMT Equipment Market - Competitive Insight, Forecast by 2031
According to Transparency Market Research's latest research report on the global SMT equipment market for the historical period 2017-2019 and the forecast period 2021-2031, increase in use of SMT equipment for various applications in the industrial sector is likely to fuel the market during the forecast periodLow Maintenance Design Offers Longer Service Life: Key Driver of SMT Equipment Market
Rising usage of flex circuit in wearable electronics across various sectors, especially in smartphone and smart card industries is a primary factor that is projected to boost the demand and innovation of SMT equipment market during the forecast period
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Flex circuits are also being increasingly used across various end-use industries, such as automotive, medical, telecommunication and industrial, as they offer better form factors, along with acting as a replacement for traditional wire harnesses, improving signal quality, reducing wiring errors, and improving electrical performance of electronics components
The current trend of miniaturization of devices with superior performance and low cost of configuration is also anticipated to boost the demand for flex printed circuit
Moreover, various electronics manufacturing organizations across various regions especially in India, China, and Indonesia are expanding significantly due to increase in spending on technological advanced SMT equipment
Considering these factors, demand for SMT equipment is anticipated to rise during the forecast period
Increase in Demand for SMT Equipment in Semiconductor & Electronics Industry to Boost SMT Equipment Market
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Demand for LEDs has increased considerably in the past few years due to growing awareness about green technology, longer operating life of LEDs, and higher brightness
Traditional manufacturing methods cannot cater to the sudden surge in demand for LED products in the country. Therefore, manufacturers of LEDs have shifted their preference toward high quality SMT equipment that effectively increases the production output while slashing manufacturing costs substantially.
Eliminating rework, improving manufacturing processes, reducing associated costs, increasing yield, and enhancing margins are key benefits that are driving adoption of SMT inspection equipment
Prior to SMT line production, the process of placing LEDs into their packages was carried out by hand. Most of the high-precision work was done manually; hence, variations in output and inconsistencies caused by human error were some of the major issues faced by manufacturers.
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LED manufacturers and designers witnessed a tremendous spike in yield, performance, and durability by adopting SMT manufacturing lines
Benefits offered by SMT equipment to the semiconductor industry have fueled their adoption across the globe
Detailed profiles of providers of SMT equipment have been provided in the report in order to evaluate their financials, key product offerings, recent developments, and strategies
Key players operating in the global SMT equipment market are
Fuji Corporation
Juki Corporation
Mycronic
Nordson Corporation
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports
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