Surface Mount Box Market REPORT OVERVIEW
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The global surface mount box market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.
A box used to mount electrical receptacles to power equipment panels, distribution units, or the building structure. The dimensions of the box align with the wiring device standard supported by these products. Electrical outlets can be mounted to equipment panels, power distribution units, or the building's framework using surface mount boxes. The box dimensions are in accordance with the wiring device standard that these goods support.
A cord or conduit connector with a sealing gland must compress for liquid-tight applications to provide an Ingress Protection (IP) rating. Some of the main factors influencing the rise of surface mount technology include the electronics industry's exponential expansion, the present electronic components diminishing size, the expanded use of flexible printed circuit boards, and the rising popularity of electric vehicles.
COVID-19 Impact: Setback of Construction Industry Hindered Expansion during Pandemic
The pandemic had a severe impact on the surface mount box market growth as it is mostly used during the renovation of a building or during construction. The construction, industrial, commercial, communication, and other industries were put on hold owing to the government's guidelines. The Electronics manufacturing industry experiences a major setback. Work on the factory floor, where workers interact closely and cooperate to improve productivity, is a significant portion of the production process. Circuit board construction requires a lot of components, which is a market scarcity. Most PCB components needed for SMT assembly line functioning are transported as cargo on typical commercial aircraft. International travel restrictions have caused planes to be cancelled, which has resulted in fewer shipping options and rising costs.
LATEST TRENDS
"Availability of Passive Components to Augment Market Growth"
Lightweight and portable electrical gadgets are now possible thanks to smaller passive component assemblies made possible by SMT. Therefore, the need for research to help the industry incorporate these components into product designs is very high. SMT also contributes to greater space savings in PCB production when used with passive components. Adding more components to a PCB is another benefit of this method. Making complicated and small boards is now possible thanks to SMT. Then, utilizing these boards, sophisticated electrical devices are created.
Surface Mount Box Market Segmentation
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- By Type Analysis
By type, the market is segmented into single-port and multi-port.
- By Application Analysis
Based on application, the market is classified into industrial, commercial, communication, and others.
DRIVING FACTORS
"Rising Digitization and Availability of E-Vehicles to Prosper Product Demand"
The majority of the electrical components used in electric vehicles are made using surface mount boxes. As it offers better mechanical efficiency under shock and vibration, the improved demand for electric vehicle adoption results in increased production and sales of electric cars, offering appealing development prospects for this market. The need for micro electrical components is rising as automation penetration and digitization progress quickly. Manufacturers use this technology more frequently to create thinner, more compact electrical components.
"Expansion of the Electronic Industry to Surge Market Growth"
The demand for surface mount boxes is expected to rise due to the expansion of the electronic industry. Growing mass production of electronics and the accelerating applications of flexible materials printed circuit boards are expected to propel the market growth. The miniaturization of electronic components is also anticipated to gain traction in the market growth. This miniaturization is leading to a rise in demand for electronics.
RESTRAINING FACTORS
"Small Size of the Product May Become a Challenge in Growth"
The surface mount boxes are available in small sizes and, thus, cannot suit any higher or large-power/voltage parts. Additionally, the small size of the products may become a challenge in the joint dimensions as the size is decreased due to the advanced technology, which means less solder will be used for joints, affecting the surface mount box market growth.
Surface Mount Box Market REGIONAL INSIGHTS
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"Asia Pacific to Lead the Market Owing to the Expansion of 3/4g Networks"
Asia Pacific is predicted to hold a dominating part of the surface mount box market share owing to the rise in demand for 3G/4G networks. It is expected to eventually increase the demand for mount boxes in the region.
North America is expected to show significant growth owing to rising digitization coupled with the growing electronic industry in the region.
KEY INDUSTRY PLAYERS
"Key Companies to Emphasis on the Development of Advanced Technology"
Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market.
List of Market Players Profiled
- Legrand (France)
- Leviton (U.S.)
- CommScope (U.S.)
- Panduit (U.S.)
- Belden (U.S.)
- Eaton (Ireland)
- Nexxt Solutions Infrastructure (U.S.)
- Siemens (Germany)
- Daetwyler Holding (Switzerland)
- NECABLES (U.S.)
- Honeywell (U.S.)
- Hubbell (U.S.)
- Schneider Electric (France)
- AUDAC (Belgium)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2022 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using various primary and secondary sources.
Frequently Asked Questions
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Which region is likely to lead the surface mount box market?
Based on our research, Asia Pacific is expected to lead the surface mount box market.
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What are the segments of the surface mount box market?
By type, the surface mount box market is segmented into single port and multi-port. Based on application, the market is classified into industrial, commercial, communication, and others.
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Which are the driving factors of the surface mount box market?
Rising digitization and availability of e-vehicles to prosper product demand and the expansion of the electronic industry to surge market growth are the factors driving the surface mount box market.
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Which are the top companies operating in the surface mount box market?
Legrand, Leviton, CommScope, Panduit, Belden, Eaton, Nexxt Solutions Infrastructure, Siemon, Daetwyler Holding, NECABLES, Honeywell, ICC, Hubbell, Schneider Electric, and AUDAC are the top companies operating in the surface mount box market.
