At 7.0% CAGR, Asia Pacific SMT Equipment Market is Projected to be Worth US$ 4,951.52 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific SMT equipment market was valued at US$ 2,891.80 million in 2023 and is expected to reach US$ 4,951.52 million by 2031, registering a CAGR of 7.0% from 2023 to 2031. Increasing miniaturization of electronic products and growing industrial automation are among the critical factors attributed to drive the Asia Pacific SMT equipment market growth.

Over the past few decades, the miniaturization of components has been one of the prime factors in the advancement of the electronics industry. Miniaturization has advanced through three technological achievements: the components, the means of interconnection (mainly PCBs), and the methods of assembly. The pursuit of miniaturization remains a driving force in SMT equipment. Component manufacturers are constantly pushing the limits of package sizes, introducing even smaller and more compact designs. Chip-scale packages (CSPs), wafer-level packaging (WLP), and emerging panel-level packaging technologies are enabling unprecedented levels of miniaturization, allowing for higher component densities and more advanced product designs. Further, smartphones, tablets, laptops, televisions, and wearable devices rely heavily on SMT equipment to achieve miniaturization, high component density, and advanced functionality. Various industries are also demanding a highly reliable and compact electronic system. SMT equipment is widely used in the production of avionics, navigation systems, radar systems, and other critical aerospace electronics, where miniaturization, weight reduction, and durability are paramount. SMT equipment allows for the integration of smaller and lighter components onto printed circuit boards (PCBs), enabling the development of compact electronic devices with reduced form factors. SMT-assembled printed circuit boards maximize the use of the space allotted on the surface. That means there is a higher density of key components covering the surface of the circuit board, with little to no space left empty. The maximize use of the circuit board's allotted space ties into the previously covered advantages, which are miniaturization, heightened responsiveness, and signal integrity. Thus, the increasing miniaturization of electronic products is propelling the growth of the Asia Pacific SMT equipment market.

On the conversely, the high initial investments hamper the growth of Asia Pacific SMT equipment market.

Based on component, the Asia Pacific SMT equipment market is bifurcated into passive component, and active component. The active component segment held 67.7% market share in 2023, amassing US$ 1,958.12 million. It is projected to garner US$ 3,408.10 million by 2031 to register 7.2% CAGR during 2023-2031.

In terms of equipment type, the Asia Pacific SMT equipment market is segmented into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held 37.7% share of Asia Pacific SMT equipment market in 2023, amassing US$ 1,091.59 million. It is anticipated to garner US$ 2,001.20 million by 2031 to expand at 7.9% CAGR during 2023-2031.

By end user, the Asia Pacific SMT equipment market is divided into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held 39.8% share of Asia Pacific SMT equipment market in 2023, amassing US$ 1,151.34 million. It is projected to garner US$ 2,085.71 million by 2031 to expand at 7.7% CAGR from 2023 to 2031.

Based on country, the Asia Pacific SMT equipment market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.8% share of Asia Pacific SMT equipment market in 2023. It was assessed at US$ 976.78 million in 2023 and is likely to hit US$ 1,858.89 million by 2031, registering a CAGR of 8.4% during 2023-2031.

Key players operating in the Asia Pacific SMT equipment market are ASMPT Ltd, FUJI CORPORATION, Hitachi High-Tech Corp, JUKI CORPORATION, KLA Corp, Mycronic, Nordson Corp, SAKI CORPORATION, Viscom AG, and Yamaha Motor Co Ltd, among others.

• In 2023, FUJI CORPORATION launched The FUJI SMT Site, which focuses primarily on SMT machines and related equipment.

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