The Europe Surface Mount Technology Market would witness market growth of 7.8% CAGR during the forecast period (2022-2028).
SMT makes it feasible for most electronics to be smaller, as there is a growth in demand for miniaturized units, and most electronic devices are expected to be smaller. Yet, even though new units are not as cumbersome as older devices, they have a significantly larger component density as well as additional connections for each component. Because of this, it is now possible for electronics to be more powerful and efficient than they have ever been before while still maintaining the smallest form factor conceivable.
Due to the expanding electronics industry, rising electronics device mass production, rising use of flexible printed circuit boards, trend toward miniaturization, and requirement for mounting electrical and mechanical components, surface mount technology is anticipated to experience an increase in demand. Today, surface mount technology is used almost universally in commercial equipment production because of its many benefits when creating PCBs. When more PCB devices become available in SMDs or packages, SMT adoption becomes more and more feasible and affordable.
One of the main reasons influencing the market's growth in the region is the increasing need to meet future energy demands. With lower levels of pollutant emissions and certain other greenhouse gases, the EV industry is quickly becoming a crucial component of the automotive sector. In addition, it offers a way to increase energy efficiency. The Electric Vehicles Initiative (EVI) is a multi-government policy forum with the purpose of accelerating the development and acceptance of electric vehicles. The United Kingdom is a supporter of the Initiative. Therefore the region presents robust expansion potential for the surface mount technology market.
The Germany market dominated the Europe Surface Mount Technology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $524.3 million by 2028. The UK market is estimated to grow a CAGR of 6.9% during (2022 - 2028). Additionally, The France market would experience a CAGR of 8.6% during (2022 - 2028).
Based on Industry, the market is segmented into Consumer Electronics, Telecommunication, Aerospace & Defense, Industrial, Medical, Automotive and Energy & Power Systems. Based on Equipment, the market is segmented into Placement Equipment, Inspection Equipment, Soldering Equipment, Screen Printing Equipment, Cleaning Equipment and Repair & Rework Equipment. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Surface Mount Technology Market is Projected to reach USD 8.6 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nordson Corporation, KLA Corporation, Yamaha Motor Co., Ltd., Juki Corporation, Viscom AG, Hitachi High-Tech Corporation (Hitachi, Ltd.), Saki Corporation, Electro Scientific Industries (MKS Instruments, Inc. ), Fuji Machinery Co., Ltd. and Mycronic AB.
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