The chip mounter market is expected to grow by USD 1.91 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Chip Mounter Market 2020-2024 (Graphic: Business Wire)
Manufacturing industries are increasingly adopting Industry 4.0 to streamline their processes and gain a competitive advantage in the market. This is increasing the use of automation and connected technologies. For example, PCB manufacturers are adopting chip mounters such as pick-and-place machines in their assembly lines to ensure the production of high-quality products with a lower time to market. Also, the adoption of automated chip mounting systems significantly reduces manufacturing defects, thereby reducing instances of backlogs and bottlenecks in production lines. Therefore, the rising adoption of Industry 4.0 architecture will be crucial in driving the growth of the global chip mounters market.
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As per Technavio, the rising demand for flexible chip mounters with advanced features will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Chip Mounter Market: Rising Demand for Flexible Chip Mounters with Advanced Features
Growing competition and the changing end-user requirements are prompting vendors to improve their products by integrating advanced features and technologies. This is leading to the development of low-cost, flexible chip mounters that are compatible with existing equipment and can also be upgraded based on the requirements in assembly lines. For instance, in January 2018, Yamaha Motor announced its plans to introduce the Z:LEX YSM20R all-around surface mounter. It has a mounting speed of 95,000 CPH and can accommodate a wide range of production formats. Similarly, other vendors in the market are offering chip mounters that are compatible with advanced technologies such as IoT. The introduction of such features is helping vendors to effectively address the requirement of end-users, which in turn, will boost the adoption of chip mounters during the forecast period.
“Expansion of SMT lines by contract manufacturing service providers and the miniaturization of electronic products will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Chip Mounter Market: Segmentation Analysis
This market research report segments the chip mounter market by application (communications, computers, consumer electronics, automotive, and other applications), technology (SMT and THT), and geography (North America, APAC, Europe, South America, and MEA).
The APAC region led the chip mounter market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as competitive production rates and manufacturing costs in the region along with high economic growth rate.
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Some of the key topics covered in the report include:
- Consumer electronics
- Other applications
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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