Chip mounters are robotic machines that are used for mounting surface-mount devices directly on the PCBs. These mounters further enable the electronics manufacturers to reduce the board costs, thereby further helps in the reduction of material handling costs. Additionally, these machines help the manufacturers to optimize the manufacturing process, thereby lead to increased profitability. The chip mounter market is poised to witness considerable growth over the course of the next five years. The major factors that are supplementing the market growth include the constant advancements in the semiconductor industry that has led to the miniaturization of electronic components, this, in turn, has led to the development of miniature devices with circuitry in the same chip, thus playing a significant role in shaping up the growth throughout the forecast period.
The rising consumer electronics industry is driving the market growth
One of the major factors that is driving the chip mounter market growth is the rapidly growing consumer electronics industry. The demand for chip mounters in the electronics industry will directly be affected by a change in demand for consumer electronic devices. Impressive economic growth, rising disposable income, and improvement in the standard of living are driving the demand for consumer electronic devices, especially in developing economies such as China, India, and Brazil among others. Simultaneously, the production of consumer electronic products is increasing on account of growing demand which is further spurring the chip mounter market growth during the next five years. In addition, the increasing household consumption expenditure also plays an important role in increasing the demand for consumer electronics, thereby positively impacting the growth of the market. For instance, as per the World Bank Group, the household’s and NPISHs Final consumption expenditure has grown remarkably from US$37.838 trillion in 2010 to US$48.611 trillion in 2018. Therefore, the growing production of consumer electronic products along with the increasing frequency of innovation is significantly driving the growth of the market. Also, the rising penetration of smart devices coupled with the growing investments in smart homes especially, across the developed economies of the globe is also considered to be a major factor that is responsible for shaping up the chip mounter market growth in the near future.
Rising incorporation of 5G technology
Budding investments for the deployment of 5G technology is further expected to drive the growth of the market during the next five years, as 5G is expected to operate on much higher frequencies that are further anticipated to the adoption of new interface and component technologies. Also, numerous policies framed by the government of various countries for the production of numerous components for electronics and 5G components manufacturing is also expected to drive the demand for chip mounters. For instance, in March 2019, the French Government signed a strategic committee contract for the electronics industries sector and launched The Nano 2022 Industrial Development Programme. This is an initiative taken to boost the investment in the R&D and production of new generation electronic components, and 5G communications among others, and an investment of €5 billion is projected during the next 4 years.
The segmentation of the market has been done into technology, application, and geography. By technology, the segmentation of the market has been done into through-hole and surface mount. By application, the segmentation has been done into consumer electronics, automotive, communication and technology, and others. Geographically, the market has been classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
The North American region is anticipated to hold a substantial share in the market throughout the forecast period. The major factors that are projected to supplement the significant share of the region include the presence of a well-established semiconductor industry coupled with the availability of state-of-art manufacturing sectors in countries like the United States and Canada among others. Furthermore, the APAC region will witness considerable growth in the coming years on account of the growing manufacturing sector along with the availability of a considerably large electronics manufacturing base in countries like India, China, and Vietnam among others.
Key Questions Answered in Chip Mounter Market Report:
- What are the key regions having a significant market share of the market?
- What are the drivers and restraints of the market?
- Who are the key market players in the market?
- What is the market segmentation of the Chip Mounter Market?
- Who are the end-users of the Chip Mounter Market?
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