PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1272051
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1272051
The semiconductor manufacturing equipment market is projected to reach USD 149.8 billion by 2028 from USD 91.2 billion in 2023, at a CAGR of 10.4% from 2023 to 2028. The major factors driving the market growth of the semiconductor manufacturing equipment market include increasing demand for semiconductor fabrication facilities, and the need for semiconductor parts in electric and hybrid vehicles.
The wafer testing/IC testing segment is projected to grow at the highest growth CAGR during the forecast period
The wafer testing/IC testing segment is projected to grow at the highest growth CAGR during the forecast period. The growth can are attributed to the need for accuracy in ICs. ICs need to be incorporated with multiple functions, and complex circuitry needs proper testing equipment to achieve accuracy. Wafer testing equipment are vital for testing electronic devices for functionality and performance at different points during the semiconductor manufacturing process. With new technological developments, there is an increase in the design complexities and development of new products.
Memory segment held the largest share of the semiconductor manufacturing equipment market in 2022
In 2022, memory held the largest share of the semiconductor manufacturing equipment market. Remote work and education fueled demand for laptop computers, propelling the dynamic random-access memory (DRAM) industry to greater heights in 2021. Solid-state drives (SSDs) using NAND flash storage, a nonvolatile storage that does not require power to maintain data, are being used by automotive and data center sectors. SSDs are now the industry standard for laptops and other mobile devices. A similar trend and increased use of memory ICs are expected in the automotive sector mainly due to the trends such as electric vehicles and autonomous vehicles, among others.
Asia Pacific is expected to account for the highest CAGR during the forecast period
The semiconductor manufacturing equipment market in Asia Pacific is projected to witness significant growth in the next few years owing to the increased adoption of this technology in Japan, China, and South Korea. China and Japan are the economic powerhouses of the region. Moreover, digitalization is rapidly gaining traction in developing countries like India. The use of smartphones and tablets is very high in the country. For instance, according to the India Brand Equity Foundation (IBEF), smartphone shipments in India in 2021 were valued at USD 173 million, which was a 14% increase from 2020.
The break-up of profile of primary participants in the semiconductor manufacturing equipment market-
The major players of semiconductor manufacturing equipment market are Applied Materials, Inc. (US), ASML (Netherlands), Tokyo Electron Limited (Japan), Lam Research Corporation (US), and KLA Corporation (US), among others.
Research Coverage
The report segments the semiconductor manufacturing equipment market and forecast its size based on front-end equipment, back-end equipment, fab facility equipment, product type, dimension, supply chain participant, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall semiconductor manufacturing equipment market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.