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SAN JOSE, CA - Global Industry Analysts, Inc. has released a report suggesting that the worldwide market for Surface Mount Technology (SMT) equipment will see favorable growth over the next few years. The report stated that key factors driving growth include component miniaturization, technology advancements and mandatory legislation.

The report cites an increased demand for efficient packaging that offers the cost-effective placement of electronic components onto the ever-decreasing size of the printed circuit board.

Accordingly, the report claims that the market for SMT equipment is poised to exceed $5.6 billion by the end of the year 2010, and that the Asia-Pacific region offers the most opportunities for the global SMT industry. It projects annual sales of SMT equipment in the area to grow at a compounded annual rate of 13.3% over the years 2001 through 2010. SMT equipment sales in the U.S. totaled an estimated $718 million in 2006, while sales in Latin America are projected to exceed $146 million in 2009.

The report states that the primary drivers of SMT equipment sales will be Agilent Technologies, FeinFocus USA, Glenbrook Technologies, Phoenix X-Ray Systems and Services, Teradyne, and Universal Instruments, among others.