The SMT Equipment market was valued at approximately US$ 6.38 billion in 2023 and is projected to grow to US$ 10.19 billion by 2031, reflecting an anticipated compound annual growth rate (CAGR) of 6.0% from 2023 to 2031.

The market for SMT Equipment is categorized into five primary regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2023, the Asia Pacific region led the market, followed closely by North America and Europe.

The advancement of electronic devices is expected to be significantly shaped by through-silicon-via (TSV) technology. This innovative method serves as a vertical interconnect access (VIA) connection utilized in integrated circuit (IC) packaging, facilitating vertical electrical connections between silicon wafers or dies. TSV technology not only establishes electrical connections with surface-mounted devices but also enhances package reflectivity through mirrored sidewalls, thereby improving light efficiency.

Within the Asia Pacific region, the SMT equipment market is further divided into several countries, including Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The demand for printed circuit board assemblies (PCBA) across various sectors such as automotive, consumer electronics, and aerospace is expected to drive substantial growth in the SMT equipment market in Asia. Numerous global companies are expanding their presence in the Asia Pacific region to supply SMT equipment that meets the increasing demands of these industries while offering state-of-the-art technology and solutions. For instance, in April 2024, Essemtec AG announced the expansion of its demo center network in Asia to cater to the rising demand for SMT equipment. Currently, Essemtec and its partners operate six demo centers across Asia, with plans for a seventh center to open in the third quarter of 2024. This initiative is part of a strategic collaboration aimed at enhancing Essemtec's outreach and providing advanced solutions to a broader customer base. The existing demo centers are located in Kuala Lumpur, Bangkok, Pune, Shenzhen, and Shanghai (with two centers).

From a component perspective, the SMT equipment market is divided into passive and active components. In 2023, passive components held a significant share of the SMT equipment market. Resistors, which are electrical devices that impede the flow of electric current, are a key type of passive component. SMT resistors typically exhibit resistance values ranging from 1 ohm to several megaohms and are categorized into various types, each suited for specific applications. For example, thin-film resistors, known for their precision and stability, are ideal for high-accuracy applications such as instrumentation, with resistance values typically ranging from 1 ohm to 3 megaohms and tolerance levels as low as 0.01%. Conversely, thick film resistors are often utilized in applications where cost is a concern and precision is less critical.

Key players in the SMT Equipment market include Hitachi High-Tech Corp, Juki Corporation, ASMPT Ltd, Yamaha Motor Co Ltd, Nordson Corp, KLA Corp, Viscom AG, Fuji Corporation, Saki Corporation, and Mycronic, all of whom are profiled in this market analysis.

The overall size of the SMT Equipment market has been determined through a combination of primary and secondary research methodologies. Extensive secondary research has been conducted utilizing both internal and external sources to gather qualitative and quantitative data regarding the SMT Equipment market size. This research process aids in forming a comprehensive overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the findings and gain deeper analytical insights. This includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the SMT Equipment sector.