(I-BusinessNews.Com, November 14, 2019 ) According to the latest report by IMARC Group, titled “Chip Mounter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global chip mounter market size reached US$ 4.1 Billion in 2018. Chip mounters are machines that are utilized to place surface-mount device (SMD) components on the solder paste-coated printed circuit boards (PCBs). These mounters play an indispensable part in the assembly line by determining the automation degree and manufacturing efficiency. These machines also aid in achieving higher densities in packaging systems. Consequently, they are widely being utilized across numerous industries, including electronics, medical and automotive.
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Global Chip Mounter Market Trends:
The global market is primarily driven by an increase in the demand for consumer electronics, including laptops, smartphones, television sets and washing machines. Influenced by various factors, including rapid urbanization, improving standards of living and the inflating purchasing power of consumers, the sales of consumer electronic products have been proliferating across the globe. Apart from this, since these devices aid in the assembly of integrated circuits, the miniaturization of electronics and electrical components and the growing popularity of wearable devices are providing further thrust to the market growth. Moreover, advancements in semiconductor technologies have resulted in high circuit densities. This has propelled manufacturers to develop techniques to manage more circuitry within the same chip, thereby creating a positive outlook for the market. Other major factors influencing the growth of the market include the increasing penetration of the Internet of Things (IoT) technology, growing adoption rates of smart home devices and the thriving automotive industry. On account of the aforementioned factors, the market value is expected to exceed US$ 5.6 Billion by 2024, growing at a CAGR of around 5% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Technology:
1. Hole Technology
2. Surface Mount Technology
3. Fine Pitch Technology
On the basis of the technology, the market has been divided into hole, surface mount and fine pitch technologies.
Market Breakup by Application:
1. Consumer Electronics
2. Medical
3. Automotive
4. Telecommunication
5. Others
Based on the application, the market has been categorized into consumer electronics, medical, automotive, telecommunication and others.
Market Breakup by Region:
1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been segregated into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. Some of the major players include Hitachi, Ltd., Samsung Electronics, Panasonic Corporation, Juki Corporation, ASM Pacific Technology Limited, Canon Inc., Essemtec AG, Ohashi Engineering, Nordson Corporation, Sony Corporation, SUN Electronic Industries Corporation and TOA Corporation.
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