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TOKYO --  Global revenues from SMT equipment rose 22% year-over-year in 2014, and sustained demand for semiconductors suggests more growth is ahead.

Sales rose to $2.3 billion for the year, according to data tracked by Protec, a Japan-based organization that collects sales data from most of the leading equipment suppliers.

The global solder paste equipment market was up 4% during the same time period.

Semiconductor sales, a leading indicator for SMT equipment, were up 9% for the year. Demand for SMT equipment typically trails semiconductors by about two quarters. 

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