At 3.6% CAGR, Middle East & Africa SMT Equipment Market is Projected to be Worth US$ 471.60 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa SMT equipment market was valued at US$ 355.38 million in 2023 and is expected to reach US$ 471.60 million by 2031, registering a CAGR of 3.6% from 2023 to 2031. Growing consumer electronics industry and Evolution of 3d packaging and through silicon via (TSV) technologies are among the critical factors attributed to drive the Middle East & Africa SMT equipment market growth.

Surface mount technology (SMT) has revolutionized electronic assembly, enabling the development of compact designs with higher assembly density, improved performance, and reduced costs. SMT's automated assembly processes reduce labor costs and increase production efficiency. The smaller form factor reduces material costs, making consumer electronics such as televisions and gaming consoles more affordable and accessible. Further, consumers globally are increasingly seeking more powerful and feature-laden devices. Consumer electronics such as smartphones, laptops, tablets, cameras, wearables, and home automation are adopted globally. Smartphones have become an integral part of the lifestyle. With the rising adoption of smartphones, there is a rise in smartphone penetration across the globe. Thus, the growing consumer electronics industry drives the Middle East & Africa SMT equipment market.

On the conversely, the high initial investments hamper the growth of Middle East & Africa SMT equipment market.

Based on component, the Middle East & Africa SMT equipment market is bifurcated into passive component and active component. The active component segment held 69.2% market share in 2023, amassing US$ 245.88 million. It is projected to garner US$ 334.03 million by 2031 to register 3.9% CAGR during 2023-2031.

In terms of equipment type, the Middle East & Africa SMT equipment market is segmented into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held 36.9% share of Middle East & Africa SMT equipment market in 2023, amassing US$ 131.29 million. It is anticipated to garner US$ 184.05 million by 2031 to expand at 4.3% CAGR during 2023-2031.

By end user, the Middle East & Africa SMT equipment market is divided into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held 43.7% share of Middle East & Africa SMT equipment market in 2023, amassing US$ 155.13 million. It is projected to garner US$ 213.78 million by 2031 to expand at 4.1% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa SMT equipment market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 36.9% share of Middle East & Africa SMT equipment market in 2023. It was assessed at US$ 131.21 million in 2023 and is likely to hit US$ 189.21 million by 2031, registering a CAGR of 4.7% during 2023-2031.

Key players operating in the Middle East & Africa SMT equipment market are 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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