Global Chip Mounter Market Insights and Forecast 2021 to 2028

Chip Mounter Market Statistics 2028
The global Chip Mounter market size is estimated to be worth US$ 4387.1 million in 2022 and is projected to reach US$ 5531.9 million by 2028 with a CAGR of 3.9% during the review period. Key drivers of the chip mounter market include the increasing income levels of consumers leading to faster adoption of smart gadgets, mobiles, and consumer electronics.

The boom in the automobile industry and the growing requirement for semiconductors, chipsets in electric vehicle production, ADAS systems will drive the growth of the chip mounter market during the forecast period. The rise of compact gadgets, wearables, and end-user industry applications will augment market growth in the coming years.

However, the shortage of chips leading to a decrease in semiconductor supply will hamper market expansion during the review period.

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Trends Influencing the Global Chip Mounter Market

Increasing gadget penetration due to rising standard of living

The demand for electronic appliances is at an all-time high as people are moving towards convenience due to rapid economic growth. TV, fridge, washing machines, mobile phones, Laptops, Computers, LED bulbs, and other smart devices are being adopted in every household and commercial space. Semiconductors are used to manufacture these devices. Hence SMTs( Surface Mount Technologies) and chip mounter machines are being added to production assembly lines to increase operational efficiency. This in turn will boost the growth of the chip mounter market during the forecast period.

The rise of automation and connected car technology

ADAS(Advanced Driver Assistance Systems) are becoming common with the increasing use of sensors, cameras, connectivity features, touchscreen displays, infotainment systems to reduce vehicle and driver injuries. Moreover, EV sales are doubling at a fast rate due to favorable government support and efforts to reach net-zero carbon emissions. Car-mounted semiconductors and microchips are needed to boost these ongoing advancements in the automotive sector. The in-car technology will continue to flourish in the coming years thereby driving the growth of the chip mounter market in the future.

Widespread applications

The compact devices industry is rising rapidly due to fast adoption among consumers and miniaturization using microsensors and chips. A variety of data gets available through wireless networks such as BlueTooth, NFC, and wifi. Manufacturers are focussing on reducing the dimensions of the circuit boards for providing convenience, portability, and ease of use. Miniaturized chips are deployed for decreasing size without affecting the performance. Furthermore, end-user industries such as healthcare, telecommunication will also drive demand. These factors will propel the growth of the chip mounter market in the near future.

Restraints in the semiconductor industry

The global chip shortage has been augmented due to pandemic restrictions. The supply chain disruptions caused due to shutting down of ports and the shift to remote working models negatively influenced the demand for semiconductors, especially in the automobile industry. Car sales plummeted and orders were canceled in the early days of the pandemic. However, as the demand picked up there was a supply mismatch thereby creating gaps in the production process. These factors will hamper the market growth in the next few years.

Chip Mounter Market Share Analysis

Based on type, the SMT( Surface Mount Technology equipment) will provide lucrative opportunities for growth in the chip mounter market share as SMTs are used widely in various industry verticals for mounting chips on circuit boards.

Based on application, the consumer electronics segment will maintain dominance in the chip mounter market share due to increasing preference for electronic devices and rising urbanization.

Based on region, The Asia-pacific segment will provide huge scope for growth in the chip mounter market share due to increasing manufacturing and growing penetration of electronic devices in emerging economies.

Chip Mounter Market Segmentation

Chip Mounter market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Chip Mounter market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.

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This release was published on openPR.