North America SMT Equipment Market Forecast to 2031 - Regional Analysis - by Component (Passive Component and Active Component), Equipment Type (Inspection Equipment, Placement Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment, and Others), and End User (Consumer Electronics, Telecommunication, Aerospace and Defense, Automotive, Industrial, and Others)
The North America SMT equipment market was valued at US$ 1,671.57 million in 2023 and is expected to reach US$ 2,699.35 million by 2031; it is estimated to register a CAGR of 6.2% from 2023 to 2031.
Growing Consumer Electronics Industry Fuels North America SMT Equipment Market
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. According to the GSMA report, by the end of 2021, smartphones accounted for 83% of mobile connections in North America, with 30 million new smartphone connections expected by 2025. Smart electronic devices have also gained popularity. Thus, the growing consumer electronics industry drives the North America SMT equipment market.
North America SMT Equipment Market Overview
The North America SMT equipment market has been segmented into the three major country: the US, Canada, and Mexico. North America is the second-largest contributor to the SMT equipment market. The rapid expansion of the electronics business has increased the global demand for SMT equipment. This is being driven by rising demand for 3G and 4G telecom networks, consumer electronics, LED and CFL lighting, LCD/LED monitors and televisions, and other products in the computers, communications, and consumer electronics industries. The Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, passed in August 2022, authorized subsidies and tax advantages to encourage the development of sophisticated semiconductors in the US. This was followed by broad limitations on the export of chip manufacturing technology to China. The CHIPS and Science Act incentivizes Taiwanese, Korean, and American companies to establish factories in the US. As a result, in April 2024, the US Department of Commerce and TSMC Arizona signed a non-binding preliminary memorandum of terms (PMT) for up to US$ 6.6 billion in direct funding under the CHIPS and Science Act. TSMC also announced plans to build a third fab at TSMC Arizona to meet strong customer demand, leveraging the most advanced semiconductor process technology in the US.
North America SMT Equipment Market Revenue and Forecast to 2031 (US$ Million)
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North America SMT Equipment Market Segmentation
The North America SMT equipment market is categorized into component, equipment type, end user, and country.
Based on component, the North America SMT equipment market is bifurcated into passive component and active component. The active component segment held a larger market share in 2023.
In terms of equipment type, the North America SMT equipment market is categorized into inspection equipment, placement equipment, soldering equipment, screen printing equipment, cleaning equipment, and others. The placement equipment segment held the largest market share in 2023.
By end user, the North America SMT equipment market is segmented into consumer electronics, telecommunication, aerospace and defense, automotive, industrial, and others. The consumer electronics segment held the largest market share in 2023.
By country, the North America SMT equipment market is segmented into the US, Canada, and Mexico. The US dominated the North America SMT equipment market share in 2023.
ASMPT Ltd, FUJI CORPORATION, Hitachi High-Tech Corp, JUKI CORPORATION, KLA Corp, Mycronic, Nordson Corp, SAKI CORPORATION, Viscom AG, and Yamaha Motor Co Ltd are some of the leading companies operating in the North America SMT equipment market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America SMT Equipment Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 List of Vendors in the Value Chain
5. North America SMT Equipment Market - Key Market Dynamics
5.1 SMT Equipment Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Consumer Electronics Industry
5.2.2 Increasing Miniaturization of Electronic Products
5.3 Market Restraints
5.3.1 High Initial Investments
5.4 Market Opportunities
5.4.1 Increasing Need for Environment-Friendly Electronic Components
5.4.2 Growing Industrial Automation
5.5 Future Trends
5.5.1 Evolution of 3D Packaging and Through Silicon Via (TSV) Technologies
5.6 Impact of Drivers and Restraints:
6. SMT Equipment Market -North America Analysis
6.1 North America SMT Equipment Market
6.2 SMT Equipment Market Revenue (US$ Million), 2021-2031
6.3 SMT Equipment Market Forecast Analysis
7. North America SMT Equipment Market Analysis - by Component
7.1 Passive Component
7.1.1 Overview
7.1.2 Passive Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Active Component
7.2.1 Overview
7.2.2 Active Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8. North America SMT Equipment Market Analysis - by Equipment Type
8.1 Inspection Equipment
8.1.1 Overview
8.1.2 Inspection Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Placement Equipment
8.2.1 Overview
8.2.2 Placement Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Soldering Equipment
8.3.1 Overview
8.3.2 Soldering Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Screen Printing Equipment
8.4.1 Overview
8.4.2 Screen Printing Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Cleaning Equipment
8.5.1 Overview
8.5.2 Cleaning Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9. North America SMT Equipment Market Analysis - by End User
9.1 Consumer Electronics
9.1.1 Overview
9.1.2 Consumer Electronics: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Telecommunication
9.2.1 Overview
9.2.2 Telecommunication: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Aerospace and Defense
9.3.1 Overview
9.3.2 Aerospace and Defense: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
10. North America SMT Equipment Market -Country Analysis
10.1 North America SMT Equipment Market Overview
10.1.1 North America SMT Equipment Market, by Key Countries- Revenue (2023) (US$ Million)
10.1.2 North America: SMT Equipment Market - Revenue and Forecast Analysis - by Country
10.1.2.1 North America: SMT Equipment Market - Revenue and Forecast Analysis - by Country
10.1.2.2 United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.2.1 United States: SMT Equipment Market Breakdown, by Component
10.1.2.2.2 United States: SMT Equipment Market Breakdown, by Equipment Type
10.1.2.2.3 United States: SMT Equipment Market Breakdown, by End User
10.1.2.3 Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.3.1 Canada: SMT Equipment Market Breakdown, by Component
10.1.2.3.2 Canada: SMT Equipment Market Breakdown, by Equipment Type
10.1.2.3.3 Canada: SMT Equipment Market Breakdown, by End User
10.1.2.4 Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.4.1 Mexico: SMT Equipment Market Breakdown, by Component
10.1.2.4.2 Mexico: SMT Equipment Market Breakdown, by Equipment Type
10.1.2.4.3 Mexico: SMT Equipment Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
13. Company Profiles
13.1 Hitachi High-Tech Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 ASMPT Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Yamaha Motor Co., Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Nordson Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 KLA Corp
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Viscom AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 FUJI CORPORATION
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 SAKI CORPORATION
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Mycronic
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 JUKI CORPORATION
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Glossary
14.2 About The Insight Partners
List of Tables
Table 1. SMT Equipment Market Segmentation
Table 2. List of Vendors
Table 3. SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Table 4. SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 5. SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Equipment Type
Table 6. SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 7. North America: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Country
Table 8. United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 9. United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Equipment Type
Table 10. United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 11. Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 12. Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Equipment Type
Table 13. Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 14. Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 15. Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by Equipment Type
Table 16. Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
List of Figures
Figure 1. SMT Equipment Market Segmentation, by Country
Figure 2. Ecosystem Analysis
Figure 3. PEST Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. SMT Equipment Market Revenue (US$ Million), 2021-2031
Figure 6. SMT Equipment Market Share (%) - by Component (2023 and 2031)
Figure 7. Passive Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 8. Active Component: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 9. SMT Equipment Market Share (%) - by Equipment Type (2023 and 2031)
Figure 10. Inspection Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 11. Placement Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 12. Soldering Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 13. Screen Printing Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 14. Cleaning Equipment: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 15. Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 16. SMT Equipment Market Share (%) - by End User (2023 and 2031)
Figure 17. Consumer Electronics: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 18. Telecommunication: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 19. Aerospace and Defense: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 20. Automotive: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 21. Industrial: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 22. Others: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 23. North America SMT Equipment Market, by Key Countries- Revenue (2023) (US$ Million)
Figure 24. North America: SMT Equipment Market, by Key Countries, 2023 and 2031 (%)
Figure 25. United States: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 26. Canada: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 27. Mexico: SMT Equipment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 28. Heat Map Analysis by Key Players
Figure 29. Company Positioning & Concentration
- ASMPT Ltd
- FUJI CORPORATION
- Hitachi High-Tech Corp
- JUKI CORPORATION
- KLA Corp
- Mycronic
- Nordson Corp
- SAKI CORPORATION
- Viscom AG
- Yamaha Motor Co Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America SMT equipment market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America SMT equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America SMT equipment market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.