At 4.8% CAGR, Europe SMT Equipment Market is Projected to be Worth US$ 1,751.01 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe SMT equipment market was valued at US$ 1,205.34 million in 2023 and is expected to reach US$ 1,751.01 million by 2031, registering a CAGR of 4.8% from 2023 to 2031. Increasing need for environment-friendly electronic components and growing industrial automation are among the critical factors attributed to drive the Europe SMT equipment market growth.

One of the most significant environmental initiatives in SMT assembly is the transition to lead-free soldering. Traditional solder alloys containing lead pose significant health and environmental risks due to their toxicity. To mitigate these risks, the electronics industry has widely adopted lead-free solder alloys, such as tin-silver-copper (SAC) and tin-copper (SnCu), which are more environmentally friendly and comply with various global regulations. There are various government laws and regulations regarding restricting the use of certain hazardous substances in electrical and electronic equipment. For example, the RoHS directive by the European Union restricts the use of ten substances: lead, mercury, cadmium, hexavalent chromium, polybrominated biphenyls (PBB) and polybrominated diphenyl ethers (PBDE), butyl benzyl phthalate (BBP), bis(2-ethylhexyl) phthalate (DEHP), dibutyl phthalate (DBP), and di isobutyl phthalate (DIBP).

SMT assembly processes, particularly reflow soldering, can be energy-intensive. However, advancements in equipment design and process optimization have led to more energy-efficient SMT assembly lines. Modern reflow ovens and other machinery are designed to minimize energy consumption while maintaining precise process control, reducing the overall environmental footprint of SMT manufacturing. SMT equipment can progress in addressing environmental concerns. Efforts can be taken to improve sustainability practices further. This includes exploring more eco-friendly materials, implementing closed-loop recycling systems, and adopting renewable energy sources to power SMT assembly lines. Thus, the growing need for environmentally friendly electronic components is expected to create an opportunity for the growth of the Europe SMT equipment market.

On the flip side, the high initial investments hamper the growth of Europe SMT equipment market.

Based on component, the Europe SMT equipment market is bifurcated into passive component and active component. The active component segment held 65.1% market share in 2023, amassing US$ 784.56 million. It is projected to garner US$ 1,165.34 million by 2031 to register 5.1% CAGR during 2023-2031.

In terms of equipment type, the Europe SMT equipment market is segmented into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held 35.3% share of Europe SMT equipment market in 2023, amassing US$ 425.94 million. It is anticipated to garner US$ 664.46 million by 2031 to expand at 5.7% CAGR during 2023-2031.

By end user, the Europe SMT equipment market is divided into consumer electronics, telecommunication, aerospace, and defense, automotive, industrial, and others. The consumer electronics segment held 35.6% share of Europe SMT equipment market in 2023, amassing US$ 428.90 million. It is projected to garner US$ 668.10 million by 2031 to expand at 5.7% CAGR from 2023 to 2031.

Based on country, the Europe SMT equipment market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 27.6% share of Europe SMT equipment market in 2023. It was assessed at US$ 332.08 million in 2023 and is likely to hit US$ 550.75 million by 2031, registering a CAGR of 6.5% during 2023-2031.

Key players operating in the Europe 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, KLA Corporation and imec announced the intention to establish the Semiconductor Talent and Automotive Research (STAR) initiative, focusing on developing the talent base and infrastructure necessary to accelerate advanced semiconductor applications for electrification and autonomous mobility and move the automotive industry forward. The initiative builds on over 25 years of collaboration between imec and KLA. This initiative is designed to connect automotive, semiconductor and innovation research initiatives in Europe (Belgium), the United States (Michigan) and Asia (Japan). Each partner will bring relevant expertise to identify and manage programs aligned to the automotive industry, as well as talent development and recruitment.



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