Surface Mount Technology Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Market Size (2025) | USD 6.61 Billion |
| Market Size (2030) | USD 9.53 Billion |
| Growth Rate (2025 - 2030) | 7.60% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Surface Mount Technology Market Analysis by Mordor Intelligence
The Surface Mount Technology market size is valued at USD 6.61 billion in 2025 and is forecast to reach USD 9.53 billion by 2030, expanding at a 7.6% CAGR. Demand for miniaturized, high-density electronics in consumer devices, electric vehicles, and industrial automation is underpinning this trajectory. Accelerated deployment of 5 G infrastructure, growth in artificial-intelligence servers, and the spread of edge and IoT products are keeping production lines close to full capacity across Asia, North America, and Europe. Automotive original-equipment manufacturers now specify automotive-grade SMT solutions able to tolerate –40 °C to 150 °C thermal swings, further tightening equipment requirements. Meanwhile, micro-LED and System-in-Package (SiP) innovations are shifting placement accuracy expectations from ±25 µm toward the sub-10 µm realm. Supply-chain volatility, especially for semiconductors and high-precision ceramics, remains the primary brake on near-term throughput despite healthy end-market fundamentals.
Key Report Takeaways
- By component, Active Components led with 66.3% Surface Mount Technology market share in 2024, while the segment is advancing at an 8.9% CAGR through 2030.
- By equipment type, Placement Equipment accounted for a 43.1% share of the Surface Mount Technology market size in 2024; Inspection Equipment is expanding at a 9.1% CAGR through 2030.
- By assembly line type, High-Volume/High-Mix held a 53.5% share in 2024, whereas High-Mix/Low-Volume is projected to grow at an 8.6% CAGR to 2030.
- By end-user industry, Consumer Electronics commanded a 39.2% share in 2024; Automotive applications are rising at a 9.3% CAGR through 2030.
- By geography, Asia-Pacific captured 48.6% Surface Mount Technology market share in 2024 and is forecast to post an 8.4% CAGR between 2025 and 2030.
Global Surface Mount Technology Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| IoT and wearable demand for high-density PCBs | +1.8% | APAC, North America | Medium term (2-4 years) |
| Automotive ADAS electronics adoption | +2.1% | Europe, North America, APAC | Long term (≥ 4 years) |
| 5 G infrastructure and high-frequency boards | +1.5% | APAC core, global spill-over | Medium term (2-4 years) |
| System-in-Package integration in smartphones | +1.2% | APAC manufacturing hubs | Short term (≤ 2 years) |
| Micro-LED manufacturing requirements | +0.7% | APAC, North America | Long term (≥ 4 years) |
| OEM outsourcing to EMS firms | +1.1% | APAC, Latin America, Eastern Europe | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
IoT and Wearables Fuel Ultra-Dense PCB Adoption
Device makers now pack more than 10,000 multilayer ceramic capacitors into a single smartwatch, tripling the count seen five years ago. To print conductive traces below 50 µm and microvias under 75 µm, assemblies rely on placement tools that consistently handle 01005 packages at ±25 µm accuracy. Compliance with FCC emissions limits and IEC safety requirements is pushing additional electromagnetic-interference shielding steps, elevating demand for precision solder-paste inspection and automated optical inspection systems.
Automotive ADAS Electronics Adoption Reshapes Reliability Needs
Electric-vehicle reference designs use upward of 10,000 MLCCs and more than 200 electronic control units each, lifting SMT volumes even as lifecycle qualification stretches beyond three years. ISO 26262 functional-safety mandates and –40 °C to 150 °C operating windows compel suppliers to certify processes under automotive PPAP and AEC-Q200 stress tests. Equipment makers that can validate long-term solder-joint reliability are winning multiyear supply agreements across Europe and Japan.
5G Infrastructure and High-Frequency Boards
Millimeter-wave base stations need substrates as thin as 0.1 mm and component placement accuracies below 10 µm to mitigate signal loss. Reflow profiles must align with the low-Z-axis expansion of Rogers laminates to avoid warpage. Regional spectrum allocations cause line configurations to diverge: Asia-Pacific plants tune for 26–28 GHz arrays, while European factories stay largely below 6 GHz, affecting stencil design and solder-paste metallurgy.
System-in-Package Integration in Smartphones
SiP modules often combine logic, RF, and sensor dice in packages under 10 × 10 mm, forcing pick-and-place heads to align markers below 5 µm. Heat densities topping 100 W/cm² require underfill chemistries that survive multiple cycles without delamination, pressuring reflow and x-ray inspection stations. Wafer-level chip-scale packaging lowers pitch below 0.4 mm, prompting investments in the next generation of placement hardware capable of sub-micrometer repeatability.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| High upfront capex for high-speed lines | –1.3% | Global, SME manufacturers | Short term (≤ 2 years) |
| Lead-free solder thermal constraints | –0.8% | Price-sensitive markets | Medium term (2-4 years) |
| Semiconductor supply-chain volatility | –1.1% | Import-dependent regions | Short term (≤ 2 years) |
| Skilled labor shortage for AI inspection | –0.9% | North America, Europe | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
High Upfront Capex Constrains Smaller Firms
Next-generation placement platforms cost upward of USD 3 million per line when bundled with in-line SPI, AOI, and x-ray testers. Although predictive-maintenance analytics lower total cost of ownership, many small and medium EMS providers struggle to justify payback within three years. Equipment rental and outcome-based service contracts are emerging but remain uncommon outside Tier-1 OEMs.
Lead-Free Solder Thermal Constraints Lower Yield
RoHS-compliant tin–silver–copper alloys reflow 30 °C higher than legacy tin–lead solders, shrinking process windows and amplifying tombstoning and head-in-pillow defects. Manufacturers combating yield loss deploy nitrogen reflow and laser-assisted soldering, yet face higher utility costs and stricter chamber maintenance schedules, lengthening the learning curve in cost-sensitive markets.
Segment Analysis
By Component: Active Components Drive Miniaturization Success
Active Components accounted for 66.3% of the Surface Mount Technology market share in 2024 as MCU, ASIC, and power-management demand accelerated in AI servers and electric vehicles. The segment is forecast to grow at an 8.9% CAGR to 2030 on the back of increased adoption of heterogenous SoC designs and high-voltage transistors. Passive Components still benefit from rising unit counts in 5G handsets and automotive traction inverters, but ceramic and tantalum material shortages continue to test supply-chain resiliency.
Customer expectations are evolving from component cost control to board-level integration density and long-tail reliability. OEMs request sub-10 ppm failure rates and 15-year field lifetimes, driving closer collaboration between substrate vendors, component makers, and placement-equipment suppliers. Suppliers that deliver active-passive co-design libraries and full Design-for-Assembly review accelerate new-product ramps, securing supplier-of-choice status for advanced wearables and industrial IoT gateways.
By Equipment Type: Inspection Equipment Becomes the Growth Engine
Placement Equipment still commands 43.1% of the Surface Mount Technology market size in 2024, but Inspection Equipment is rising fastest with a 9.1% CAGR. High-speed pick-and-place machines now hit 100 k cph with ±10 µm accuracy, aided by machine-learning vision systems that auto-tune head pressure. Soldering Equipment faces process-window squeezes as lead-free alloys demand tighter thermal gradients, while Screen-Printing platforms adopt closed-loop SPI feedback to boost first-pass yield.
Investment momentum favors AOI and x-ray systems that harness deep learning to cut false-call rates by 90 % and raise inspection speed four-fold. ViTrox and Koh Young incorporate IPC-CFX connectivity for real-time analytics that flag yield-eroding trends within minutes. Equipment finance packages bundling analytics subscriptions help offset sticker shock, enticing Tier-2 EMS firms in Eastern Europe and Southeast Asia to upgrade lines.
By Assembly Line Type: Flexibility Accelerates HMLV Adoption
High-Volume/High-Mix lines dominated with 53.5% share in 2024, leveraging automated changeovers and predictive scheduling to sustain utilization above 85 % in smartphone production.[1]Editorial Staff, “ASMPT SIPLACE Placement Solutions,” ASMPT.COM Yet High-Mix/Low-Volume configurations are gaining at an 8.6% CAGR to 2030 as automotive and industrial OEMs demand shorter design-iteration loops.
Flexible feeders, quick-release stencil frames, and AI-driven line-balancing algorithms enable sub-20-minute product changeovers, expanding the addressable market among specialty medical and aerospace firms. Compliance demands under FDA 21 CFR Part 820 and IPC-610 Class 3 drive in-line traceability, prompting barcode-centric material-tracking systems and automated optical zoom for conformal-coated assemblies.
By End-User Industry: Automotive Electrification Reshapes Demand Curves
Consumer Electronics retained 39.2% share in 2024, but Automotive electronics now exhibit a 9.3% CAGR on rising electric-vehicle penetration and ADAS rollouts. Each EV now integrates USD 7,000 worth of semiconductors, up from USD 600 in legacy vehicles, multiplying SMT board counts and tightening quality-certification needs.
Industrial Electronics and Aerospace and Defense present steady, specification-heavy demand driven by factory automation and defense modernization. Healthcare contributes niche yet high-margin volumes requiring ISO 13485 and IPC-Class 3 builds. Telecom and IT Infrastructure capitalizes on 5G densification and edge-compute nodes, pushing demand for low-loss, high-frequency assemblies.
Geography Analysis
Asia-Pacific dominated with 48.6% Surface Mount Technology market share in 2024 and is forecast to post an 8.4% CAGR through 2030.[2]SEMI Press Office, “300 mm Fab Equipment Spending Forecast to Reach Record USD 137 Billion,” SEMI.ORG China, Taiwan, and South Korea together are slated to invest more than USD 84 billion in new 300 mm fabs by 2027, securing upstream substrate and component capacity. Japan’s Kumamoto cluster, anchored by TSMC JASM’s USD 20 billion expansion, adds over 100,000 12-inch wafers per month while creating 3,400 high-tech roles.[3]TSMC Newsroom, “JASM Set to Expand in Kumamoto Japan,” TSMC.COM
North America trails but is accelerating under the CHIPS Act, with announced projects doubling regional capacity investment from USD 12 billion in 2024 to USD 24.7 billion by 2027. Advanced packaging pilots in Arizona and New York target sub-10 µm placement for AI accelerators, reducing dependence on trans-Pacific shipping lanes. Regulatory emphasis on cyber-secure production flows nudges factories toward CMMC and IPC-1791 trusted builder accreditation.
Europe focuses on automotive power semiconductors and wide-band-gap devices, with Infineon and STMicroelectronics driving capital expenditure to support 800 V EV inverters. The region’s RoHS expansion and incoming Ecodesign rules favor repairable PCBs, stimulating demand for selective soldering and rework platforms. Workforce upskilling programs under Europe’s Pact for Skills align with IPC’s certified interconnect designer curriculum, aiming to close a 146,000-worker gap by 2029.
Middle East and Africa makes incremental gains as Saudi Arabia and the UAE funnel sovereign-fund capital into tech parks that bundle EMS incentives with reduced utility tariffs. South Africa’s Gauteng hub attracts telecom-equipment refurbishers that rely on modular SMT lines to process short-run, high-mix repair orders. Still, infrastructure gaps and limited specialist labor temper adoption of cutting-edge equipment in most sub-Saharan markets.
Competitive Landscape
The SMT equipment space remains moderately concentrated. ASMPT, Fuji, and Yamaha collectively capture a significant share of 2024 revenue, leveraging deep process know-how and regional support networks. Competitive pressure intensifies as AI-driven inspection entrants such as ViTrox and Koh Young demonstrate software-centric advantages with 90% fewer false calls and faster programming cycles.
Incumbents respond by extending outcome-based service contracts. ASM International posted record 53.4% gross margins in Q1 2025 on process-specific metrology packages tied to advanced-node AI chips. Yamaha touts turnkey lines that integrate feeder intelligence and cloud-based analytics to boost first-pass yield by 11% among French EMS customers.[4]Yamaha SMT, “France's Largest EMS Invests for the Future,” YAMAHA-MOTOR-ROBOTICS.DE
White-space innovation centers on micro-LED and heterogenous integration. Coherent’s Laser-Induced Forward Transfer achieves 99.7% placement accuracy for sub-5 µm dies, reshaping display assembly economics. Mycronic’s deep-learning AOI engine, launched in 2024, slashes programming labor by 60% and aligns with IPC-CFX for shop-floor interoperability. Regional workforce-development hubs in Mexico and Malaysia underpin after-sales service strength, sharpening time-to-benefit for mid-tier EMS customers.
Surface Mount Technology Industry Leaders
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ASMPT Limited
-
Fuji Corporation
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Panasonic Holdings Corporation
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Yamaha Motor Co., Ltd.
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Hanwha Precision Machinery Co., Ltd.
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- February 2025: TSMC, Sony, DENSO, and Toyota confirmed USD 20 billion second-fab outlay for JASM Kumamoto; ramp targets 100,000 12-inch wafers per month by 2027.
- January 2025: ASM International posted EUR 839.2 million revenue, up 26% YoY, on AI-chip deposition demand, securing 53.4% gross margin.
- November 2024: ViTrox opened a Mexico demo center showcasing V510i 3 D AOI and V310i SPI lines, enlarging local workforce.
- October 2024: Yamaha delivered turnkey SMT lines to France’s largest EMS firm, highlighting flexible feeder modules.
Global Surface Mount Technology Market Report Scope
Surface Mount Technology (SMT) is utilized in the electronic assembly to mount electronic components to the printed circuit board's (PCB) surface instead of inserting components through holes as with conventional assembly. SMT was developed to significantly reduce manufacturing costs and make more efficient use of PCB space.
The SMT market is segmented by component (passive components (resistors, capacitors), active components (transistors, integrated circuits), end-user industry (consumer electronics, automotive, industrial electronics, aerospace and defense, healthcare, and other end-user industries), and by geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The report offers value terms in USD for the above-mentioned segments.
| Passive Components | Resistors |
| Capacitors | |
| Active Components | Transistors |
| Integrated Circuits |
| Placement Equipment | High-speed Pick-and-Place Machines |
| Soldering Equipment | Reflow Ovens |
| Wave Solder Systems | |
| Inspection Equipment | Automated Optical Inspection (AOI) |
| Solder Paste Inspection (SPI) | |
| X-ray Inspection | |
| Screen Printing Equipment |
| High-Mix / Low-Volume (HMLV) |
| High-Volume / High-Mix (HVHM) |
| Consumer Electronics |
| Automotive |
| Industrial Electronics |
| Aerospace and Defense |
| Healthcare |
| Telecom and IT Infrastructure |
| Other End-users |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| South Korea | |
| India | |
| Rest of Asia-Pacific | |
| Middle East | Saudi Arabia |
| United Arab Emirates | |
| Rest of Middle East | |
| Africa | South Africa |
| Rest of Africa |
| By Component | Passive Components | Resistors |
| Capacitors | ||
| Active Components | Transistors | |
| Integrated Circuits | ||
| By Equipment Type | Placement Equipment | High-speed Pick-and-Place Machines |
| Soldering Equipment | Reflow Ovens | |
| Wave Solder Systems | ||
| Inspection Equipment | Automated Optical Inspection (AOI) | |
| Solder Paste Inspection (SPI) | ||
| X-ray Inspection | ||
| Screen Printing Equipment | ||
| By Assembly Line Type | High-Mix / Low-Volume (HMLV) | |
| High-Volume / High-Mix (HVHM) | ||
| By End-user Industry | Consumer Electronics | |
| Automotive | ||
| Industrial Electronics | ||
| Aerospace and Defense | ||
| Healthcare | ||
| Telecom and IT Infrastructure | ||
| Other End-users | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Asia-Pacific | China | |
| Japan | ||
| South Korea | ||
| India | ||
| Rest of Asia-Pacific | ||
| Middle East | Saudi Arabia | |
| United Arab Emirates | ||
| Rest of Middle East | ||
| Africa | South Africa | |
| Rest of Africa | ||
Key Questions Answered in the Report
What is the projected value of the Surface Mount Technology market by 2030?
The market is expected to reach USD 9.53 billion by 2030, growing at a 7.6% CAGR.
Which component segment leads current demand?
Active Components hold 66.3% share, buoyed by AI processors and automotive power electronics.
Why are inspection systems growing faster than placement machines?
Manufacturers are adopting AI-driven AOI and x-ray tools to hit zero-defect targets, pushing the segment at a 9.1% CAGR.
How important is Asia-Pacific to SMT growth?
Asia-Pacific accounts for 48.6% of 2024 revenue and is projected to expand at an 8.4% CAGR through 2030.
What restraint most affects smaller EMS providers?
High upfront capital expenditure for new high-speed placement lines reduces investment flexibility and can trim overall CAGR by 1.3%.
How is automotive electrification shaping SMT demand?
Each electric vehicle deploys up to USD 7,000 in semiconductors, lifting board counts and driving a 9.3% CAGR for automotive SMT assemblies.
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