Rising Electronics Industry to Drive Growth in Chip Mounter Market

Hanwha Group and JUKI Corporation, among others, are the significant players in the global market for chip mounters.

As per the analysis by Expert Market Research, the chip mounter market is expected to grow in the forecast period of 2022-2027 at a CAGR of 4.9%, owing to the rising electronic industry and technological advancements.

Chip mounters are used in the electronic industry to assemble semiconductors. The global chip mounter market has been steadily expanding due to the increasing need for high-density packing methods. The market is heavily reliant on technological devices. With increasing consumer demand and reliance on technology, there is a shift towards smartphones and laptops, LCD television sets, and other automated home goods such as washing machines and coffee makers. These technical advances and need for the improvements in design, user interface, and power processing are further contributing to the market's growth.

The chip mounter market is anticipated to be driven by the growing electronics industry and new designs and technologies that enable chip manufacturers to incorporate more circuitry without raising production costs. The market is being pushed forward by growing disposable incomes, busier lives, and more automation of routine activities.

The increasing prevalence of smartphones also contributes to the industry's development. However, the market needs significant financial expenditure and research, which limits the market expansion. Another issue impeding the industry growth is the significant risk associated with product performance due to constant technological advancements and new product development.

Hanwha Energy is the first Korean business to partner with one of the world's largest oil companies to accelerate its entry into the United States renewable energy industry. Hanwha Energy uses its business skills and Total SE's vast resources to create a proactive presence in the United States. Hanwha Energy previously stated on January 14, 2021, that it had formed a joint venture with France's Total SE to develop and manage solar energy facilities across the United States.

The joint venture, proposed by Total SE – which generated USD 176.2 billion in revenue in 2019 – seeks to acquire 35GW of renewable energy capacity by 2025. The deal enables Total SE to diversify its business beyond oil and gas by entering the renewable energy industry, specifically the segment for solar energy. This strategic decision is consistent with the worldwide response to climate change and the goal of transitioning to a carbon-neutral economy. Such investments in energy and electricity are accelerating the development of the chip mounter market.

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Top 2 Global Chip Mounter Companies

Hanwha Group

Hanwha Group is a South Korean chaebol or big business group. The company has evolved into a major multi-profile corporate conglomerate with interests ranging from explosives, its initial industry, to retail and financial services. Hanwha's manufacturing and construction companies span a wide range of industries, including chemicals & materials, aerospace and mechatronics, comprehensive solar energy solutions, and international construction. Hanwha has more than 65 years of experience as an industry leader.

JUKI Corporation

JUKI Corporation is a Japanese producer of industrial and household sewing machines and advanced SMT (surface mount technology) assembly equipment. For the apparel sector, Juki offers a wide range of industrial sewing machines, including Lockstitch, Overlock, and Coverstitch machines, as well as electronic bartacking machines and automated sewing systems. Apart from being well-known in the non-apparel market, its machines today serve the automobile, upholstery, marine, industrial fabrics, footwear, leather goods, and home textiles sectors.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.