Saudi Arabia Surface Mount Technology Market is expected to grow at a 7.12% CAGR through 2029

Increasing demand for smaller and lighter electronic devices and government initiatives to promote the growth of the electronics industry are driving the Saudi Arabia Surface Mount Technology Market during the forecast period 2025-2029.

According to TechSci Research report, “Saudi Arabia Surface Mount Technology Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, the Saudi Arabia Surface Mount Technology Market was valued at USD 352.10 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 7.12% through 2029. One of the key drivers of the Surface Mount Technology (SMT) market in Saudi Arabia is the government-led industrial diversification effort. The Saudi government, through initiatives like "Saudi Vision 2030," has been actively promoting the diversification of its economy away from a heavy reliance on oil. This diversification strategy places a strong emphasis on the development of the technology and electronics manufacturing sector, of which SMT is a significant component. To achieve this vision, the government has introduced various policies, incentives, and funding programs to encourage local and foreign investments in the SMT industry. These efforts include tax breaks, reduced import tariffs on SMT equipment, and support for research and development activities in the field. Such support not only stimulates growth in the SMT market but also attracts global manufacturers and technology companies to establish operations within the Kingdom. This driver is pivotal in shaping the landscape of the SMT market, as it provides a conducive environment for businesses to thrive, thereby spurring technological advancements and job creation within the sector.

The driving force behind the Saudi Arabia Surface Mount Technology market is the rapid expansion of the electronics manufacturing sector in the country. The local and regional demand for electronic products has been steadily increasing, encompassing a wide range of industries, from consumer electronics to automotive components. Saudi Arabia's strategic location, coupled with its commitment to developing a competitive manufacturing sector, has attracted international and domestic companies looking to establish and expand their electronics manufacturing operations. This growth directly impacts the SMT market, as SMT is a fundamental process in the assembly of electronic components onto printed circuit boards (PCBs). The expanding electronics manufacturing sector drives the demand for advanced SMT equipment, materials, and services, leading to the proliferation of businesses specializing in SMT within the country. As Saudi Arabia continues to diversify its industrial base, the SMT market is set to play a vital role in meeting the demands of a burgeoning electronics sector, both locally and for export to the wider region.

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Saudi Arabia Surface Mount Technology Market is segmented into type, application and region.

Based on application, The Telecommunication segment held the largest market share in 2023. Telecommunications is a vital sector in Saudi Arabia due to its rapidly growing digital economy and the increasing demand for communication technology. The country has seen a surge in mobile and internet usage, driven by a young and tech-savvy population. This high demand for communication devices, including smartphones, routers, and network equipment, creates a substantial need for SMT technology. Saudi Arabia has been actively investing in its telecommunications infrastructure, including the expansion of 4G and 5G networks. The development and maintenance of these advanced networks require the production of a wide range of electronic components, many of which are manufactured using SMT processes. The convergence of consumer electronics and telecommunications devices is a notable trend. Smartphones, for example, combine features of traditional mobile phones with those of various consumer electronics, including cameras, gaming devices, and more. This convergence necessitates complex electronic components that are assembled using SMT technology. The Saudi government has been actively encouraging local manufacturing and assembly in various industries, including electronics. This initiative may have led to the growth of domestic production facilities for telecommunications devices and equipment, creating a need for SMT services. Saudi Arabia hosts a significant presence of global telecommunications companies and brands. These companies may establish manufacturing and assembly operations within the country, increasing the demand for SMT services for their products. The sheer size of the telecommunications market, both domestically and regionally, can make it a dominant application in the SMT market. It provides opportunities for local manufacturers to scale their operations and gain a competitive advantage by offering SMT services tailored to the telecom sector.

Key market players in the Saudi Arabia Surface Mount Technology Market are:-

• Fuji Corporation
• Yamaha Motor Co. Ltd
• Mycronic AB
• ASM Assembly Systems GmbH & Co. KG
• Panasonic Corporation
• Nordson Corporation
• Juki Corporation
• Hanwha Corporation
• Zhejiang Neoden Technology Co. Ltd
• Electronic Manufacturing Services Group Inc.

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“The Saudi Arabia Surface Mount Technology Market is anticipated to rise in the upcoming years. The market is driven by the increasing demand for electronic devices and the growing adoption of SMT in various industries. The market is also expected to benefit from the government's initiatives to promote the growth of the electronics industry in the country. SMT is increasingly being adopted in a variety of industries in Saudi Arabia, including consumer electronics, automotive, aerospace & defense, and healthcare. The increasing demand for smaller and lighter electronic devices, such as smartphones, wearables, and IoT devices, is driving the growth of the SMT market in Saudi Arabia. The Saudi Arabian government is taking a number of initiatives to promote the growth of the electronics industry in the country. These initiatives are expected to boost the demand for SMT in Saudi Arabia. Also, Central Region is expected to remain the largest SMT market in Saudi Arabia, followed by the Eastern Region, Western Region, and Southern Region. Therefore, the market is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Saudi Arabia Surface Mount Technology Market By Type (Coating Equipment, Inspection, Pick and Place, Solder Equipment, Cleaning Agents, Rework, Repair Equipment), By Application (Telecommunication, Consumer Electronics, Automotive, Aerospace & Defense, Healthcare), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of Saudi Arabia Surface Mount Technology Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Surface Mount Technology Market.

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