Surface Mount Technology Industry - Regional Synopsis
APAC Market Forecast
The surface mount technology market is expanding significantly in the Asia-Pacific region with about 35% revenue share mainly because the area is home to multiple PCB manufacturing factories. China has a large number of PCB production facilities such as Shanghai is home to AT&S's largest production facility, which specializes in multi-layer PCBs. This is a result of the company focusing on the sizable mobile communications industry in China. In 2022, China produced over 324 billion integrated circuits, a 10% decrease from the previous year.
North America Market Statistics
The North America is anticipated to hold 28% share of the global surface mount technology market during the forecast period. Owing to the production of consumer electronics with high quality and competitive pricing in North America, SMT assembly solutions are used. Also, due to the growing need for mobile, internet-connected devices, consumer electronics, automotive, and telecommunications as well as the need for increased precision, product miniaturization, and quicker processing times, the surface mount technology market for placement equipment is growing.
