DUBLIN--(BUSINESS WIRE)--The "Surface Mount Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Surface Mount Technology Market is expected to register a CAGR of 7.46% over the forecast period from 2021 to 2026.
Companies Mentioned
- Fuji Machine Manufacturing Co., Ltd.
- Yamaha Motor Co., Ltd.
- Mycronic AB
- ASM Assembly Systems GmbH & Co. KG
- Panasonic Corporation
- Nordson Corporation
- Juki Corporation
- Hanwha Group
- Neoden Technology Co., Ltd
- Viscom AG
- Electronic Manufacturing Services Group, Inc.
- Kasdon Electronics Limited
Key Market Trends
Automotive is Expected to Witness Significant Growth
- The increasing usage of electric vehicles across the world is also creating significant opportunities for the surface mount technology market. In May 2020, Trackwise Designs announced that it had secured a production order based on its Improved Harness Technology (IHT), for delivery in mid-2020. In support of initial vehicle production activities, this order follows successful funded innovative production activities last year for this UK-based designer and electric car manufacturer. Recently in May 2020, Tesla has done a turnaround on its previous position on vehicle-to-grid technology. According to a press release by Tesla, they are already integrating V2G technology in the electrical architecture of the Model 3. The company is doing reverse engineering of the Model 3 charger, which was fully bidirectional.
- According to the European Free Trade Association, registrations of electric vehicles in Europe jumped 57.4% in the first quarter of 2020. As the electric cars primarily constitute motor controller circuitry built on Printed Circuit Boards (PCBs), it is further expected to drive the demand in the forecast period as surface mount technology is preferred for the assembly of these PCBs. However, with the onset of COVID-19 pandemic, overall sales of passenger cars in the European Union, United Kingdom, and countries of the European Free Trade Association (EFTA) fell by 52.9% in Q1 of FY2020, when many showrooms were closed due to lockdowns. This is further expected to hinder the anticipated growth of the surface mount technology market in the short-term forecasts.
- In December 2019, Power management company Eaton's eMobility business has formed a partnership with U.S.-based manufacturing services company Jabil for the production of electromechanical and PCB assemblies. Eaton partnered with Jabil based on several factors. One of the reasons for the tie-up is the addition of the surface-mount technology production capacity needed for the expected increase in global electronic circuit demand as per the company. Jabil partnered with Eaton to enable its vision of delivering electric vehicle solutions to passenger car, commercial vehicle, and off-highway original equipment manufacturers and support the rapidly growing vehicle electrification market.
Asia Pacific is Expected to Witness Fastest Growth
- The market for surface mount technology is growing significantly in the Asia-Pacific region, mainly due to the presence of various PCB production facilities in the region. China is home to many PCB production facilities. AT&S's most significant production unit is located in Shanghai with a focus on multi-layer PCB. This is because the company's attention is on large volumes for mobile communications customers in China. Increasing smartphone adoption rates have made Asia-Pacific one of the largest mobile markets in the world. This is due to increasing population growth and urbanization. As per the GSM Association, more than 4 out of 5 connections will be smartphones by 2025. This trend is expected to increase the adoption of surface mount technology among consumer electronics in the region.
- In December 2019, Nexperia, a manufacturer of discrete and MOSFET components and logic & analog ICs, announced that Wingtech Technology, a Chinese telecom and computer equipment manufacturer has officially obtained a controlling stake in Nexperia from Beijing Jianguang Asset Management Co. Ltd (JAC Capital). In June 2020, Nexperia launched the latest range of GaN FET devices equipped next-generation high-voltage GaN HEMT H2 technology in the Nexperia's proprietary CCPAK surface-mount packaging. Devices achieve superior on-state performance coupled with improved stability and simplify application designs due to their cascade configuration, which eliminates the requirement for complicated controls and drivers.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.3 Assessment of the impact due to COVID-19
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Demand For Miniaturization of Technology
5.1.2 Fewer Holes Required to Drill on PCBs Compared to Other Technologies
5.2 Market Restraints
5.2.1 SMT is Unsuitable for Any Large, High-Power and High-Voltage Parts and Parts Undergoing Frequent Mechanical Stress
6 MARKET SEGMENTATION
6.1 By Component
6.2 By End-User Industry
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Rest of the World
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/35wohd
April 20, 2021 at 04:12PM
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Insights on the Surface Mount Technology Global Market to 2026 - Featuring Yamaha Motor, Panasonic and Nordson Among Others - ResearchAndMarkets.com - Business Wire
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