The presence of sound domains for automotive, energy, power system, and medical production has given a thrust to market growth
The global SMT equipment market would reach a value of 9.8 Billion by the end of 2030. The CAGR of the global SMT equipment market is tabulated at 4.5 per cent for the period between 2020 and 2030, and this, as per a report by Transparency Market Research, is a strong cue for gauging the growth dynamic of the market.
“The growth of the global SMT equipment market is a direct function of advancements in screen printing equipment, cleaning equipment, and soldering technologies. The total worth of the global SMT equipment market is projected to increase as the electronics industry undergoes rapid developments,” read the report.
Growing inclination of the industrial sector towards lean operations
The demand within the global SMT equipment market is slated to rise alongside advancements in manufacturing and engineering technologies. The use of surface mount technology (SMT) is an inherent part of large manufacturing units who are focused on agile production. The growing inclination of the industrial sector towards lean operations and management has brought SMT equipment under the spotlight of attention.
“Over the course of the next decade, the use of pick-and-place equipment is slated to increase by leaps and bounds. There is little contention about the importance of component placement systems across leading industries. The evident relevance of these systems for the industrial sector shall give an impetus to the growth of the global SMT equipment market,” read the report.
The global SMT equipment market is slated to attract attention from leading entities and stakeholders. The use of surface mounted equipment is a key consideration for units operating in the domain of electronic manufacturing. The use of circuit boards and capacitors is a resilient dynamic of the industrial manufacturing sector, creating new inlets for growth and advancement.
Use of Printed Circuit Boards
Printed circuit boards are relevant devices used for manufacturing high-end electronic devices. Besides, SMT devices are mounted over these boards with the help of robotic technologies. This is an important consideration from the perspective of growth and development within the global market.
“Over the course of the next decade, the use of integrated circuits, capacitors, and PCBs is projected to increase by leaps and bounds in the times to follow. There is unprecedented demand for new-age electronic devices that can help in heeding to the needs of the masses. This factor is also redefining the sales graph of the global SMT equipment market,” read the report.