The vendor landscape of the global market for surface mount technology equipment is largely consolidated, with the top five vendors, namely Fuji Machine Mfg. Co., Ltd., Panasonic Corporation, Juki Corporation, Mycronic AB, and Siplace, collectively accounting for a massive 93% of the overall market in 2016, observes Transparency Market Research in a recent report.

In December 2016, Juki Corporation launched a new long-board SMT placement machine, called the JX-350. The machine is said to have faster placement speed and better component placing capability for LED manufacturing industry.

Transparency Market Research estimates that the global surface mount technology equipment market was valued at US$4845.7 mn in 2016 and is anticipated to reach US$7075.8 mn by 2025, exhibiting a CAGR of 4.4% from 2017 to 2025.

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Placement Equipment to Account for Massive Chunk in Global Revenues

In terms of equipment type, sales of SMT placement equipment account for a massive chunk of the sales of all varieties of SMT equipment in the global market. The segment accounted for a massive 35.7% of the global market in 2016 and is expected to witness a rise in its share in the global market by the end of the report’s forecast period. In terms of geography, the Asia Pacific market is expected to remain the leading regional market for SMT equipment.

Rising Usage of Flex Circuits in Electronic Devices Key to Market Development

The global market for surface mount technology equipment is expected to benefit significantly from the increased usage of flex circuits in wearable devices and in mobile devices such as smart phones. Industries such as medical, automotive, and telecommunications are also increasingly adopting flex circuits for a number of applications. Benefits of flex circuits such as improved signal quality, reduced wiring errors, and improved electrical performance are allowing their increased adoption in electronics components in these industries.

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Receding Profit Margins owing to Intense Price-based Competition to Hinder Market Growth

Rising price-based competition, however, is expected to present vast operational challenges for established players in the global SMT equipment market. Emerging and high-growth potential regions such as Asia Pacific are witnessing a surge in the number of local manufacturers of SMT equipment.

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The provision of affordable SMT equipment by domestic vendors is compelling international players to recue prices of their offerings in order to sustain in the highly competitive market. Leaving international vendors with fewer funds for R&D activities owing to receding profit margins, cost reductions are expected to have a notable negative impact on the overall development of the market in the next few years.