According to Cognitive Market Research, the global SMT Surface Mount Equipment market size will be USD 5914.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2365.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1774.3 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1360.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 295.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 118.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.
The Inspection Equipment Type held the highest SMT Surface Mount Equipment market revenue share in 2024.
