MUNICH -- The end of the second quarter brought the first signs of an upswing in industry SMT equipment orders after four quarters of slowing growth.

After a strong showing in 2010 and early 2011, the surface mount equipment market declined in the second half of 2011 and the beginning of 2012, says Siplace analysts.

Now, after a year's drought, new orders and deliveries are on the rise, especially in China, which currently accounts for roughly 50% of the global market. The rest of Asia as well as North and South America lag China, but a look at the quarterly numbers shows some light growth or stabilization in these areas as well.

Nevertheless, the results remain below last year’s level. Europe is the primary laggard, the only major region showing a negative trend, which Siplace attributes to uncertainties caused by the euro crisis.

The economic recovery becomes particularly apparent in a quarter-over-quarter comparison, Siplace notes. While deliveries increased by single digits in the first quarter, they rose almost five times sequentially from the first to the second quarter. Deliveries in the Chinese market rose three times faster in the same periods than in the rest of the world, with almost 50% of new equipment shipments headed to manufacturers there during the first six months of 2012. Europe brings up the rear in this regional comparison: its deliveries number dropped in the second quarter of 2012 for the third quarter in a row.