Semiconductor Manufacturing Equipment Global Market Report 2024

The semiconductor manufacturing equipment market size has grown strongly in recent years. It will grow from $106.07 billion in 2023 to $116.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The expansion during the historical period can be attributed to the demand for electronics, research and development, consumer electronics trends, automotive electronics, and the globalization of manufacturing.

The semiconductor manufacturing equipment market size is expected to see rapid growth in the next few years. It will grow to $172.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the forecast period can be attributed to the deployment of 5G technology, the integration of artificial intelligence (AI), the expansion of the Internet of Things (IoT), the proliferation of electric vehicles (EVs), and an emphasis on supply chain resilience. Key trends expected in the forecast period involve increased automation and robotics integration, a focus on green manufacturing practices, the development of advanced metrology and inspection tools, growth in semiconductor packaging technologies, and collaborations for research and development.

The semiconductor manufacturing equipment market is expected to grow due to the increasing consumption of consumer electronics. Consumer electronics, such as mobile devices, TVs, and laptops, are driving retail sales globally. In the November-December holiday season of 2022, retail sales increased by 5.3% to $936.3 billion, with a significant uptick in electronics sales. The consumer electronics industry in India is projected to reach $21.18 billion by 2025. The growing consumption of consumer electronics is a major factor contributing to the growth of the semiconductor manufacturing equipment market.

The semiconductor manufacturing equipment market is expected to grow due to the increasing number of IoT-linked devices. IoT-linked devices, embedded with sensors and actuators, depend on semiconductor-based microchips produced with semiconductor manufacturing equipment. Ericsson reported 1.3 billion broadband IoT connections in 2022, with Northeast Asia projected to exceed 2 billion connections by 2023. The rising number of IoT-linked devices contributes to the growth of the semiconductor manufacturing equipment market.

Technological advancements are a key trend in the semiconductor manufacturing equipment market. Hitachi High-Tech Corporation launched the Hitachi Dark Field Wafer Defect Inspection System DI2800 in June 2022. This system, based on scattering-intensity simulation technology, optimizes illumination and detection optics for highly sensitive inspection of patterned-wafer defects during the manufacturing process.

The major companies in the semiconductor manufacturing equipment market are developing innovative products, such as bevel solutions, to expand their customer bases and increase revenue. In June 2023, Lam Research Corporation, a US-based semiconductor manufacturing company, launched Coronus DX, the industry's pioneering bevel deposition solution. This solution addresses critical manufacturing challenges in next-generation logic, 3D NAND, and advanced packaging applications by applying a protective film to both sides of the wafer edge, enhancing yield rates and enabling chipmakers to adopt cutting-edge processes seamlessly.

In June 2022, Applied Materials Inc., a US-based semiconductor chip manufacturing company, acquired Picosun Oy, a Finland-based semiconductor manufacturing equipment company known for its atomic layer deposition reactors, for an undisclosed amount. This acquisition is aimed at strengthening Applied Materials' position and expanding its capabilities in specialty semiconductor chips through Picosun's Atomic Layer Deposition (ALD) Technology. Picosun Oy, founded in 2004, is recognized for manufacturing ALD reactors for micro- and nanotechnology applications.

Major companies operating in the semiconductor manufacturing equipment market report are Panasonic Corporation, Canon Machinery Inc., Applied Materials Inc., NEC Corporation, ASML Holding N.V., Lam Research Corporation, Tokyo Electron Ltd., KLA Corporation, GlobalFoundries Inc., Advantest Corporation, MKS Instruments Inc., Teradyne Inc., Oerlikon Group, ASM International, JSR Corporation, Onto Innovation Inc., Ferrotec Holdings Corporation, Tokyo Seimitsu Co. Ltd., FormFactor Inc., AMEC PLC, Veeco Instruments Inc., Plasma-Therm LLC, Hitachi High-Tech Group., Dainippon Screen Mfg. Co. Ltd., SVXR LLC, Novellus Systems Inc., AMI Semiconductor Inc., SVS Inc., DNSO SAS, SPTS Technologies Ltd.

Asia-Pacific was the largest region in the semiconductor manufacturing equipment market in 2023. The regions covered in the semiconductor manufacturing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the semiconductor manufacturing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products of semiconductor manufacturing equipment include memory, foundry, logic, MPU (microprocessors), discrete, analog, and MEMS (micro-electromechanical systems). Memory refers to semiconductor memories storing digital information through integrated circuit technology, employing front-end and back-end equipment with 2D, 2.5D, and 3D dimensions for various applications in semiconductor fabrication plants or foundries, semiconductor electronics manufacturing, and test homes.

The semiconductor manufacturing equipment market research report is one of a series of new reports that provides semiconductor manufacturing equipment market statistics, including semiconductor manufacturing equipment industry global market size, regional shares, competitors with a semiconductor manufacturing equipment market share, detailed semiconductor manufacturing equipment market segments, market trends and opportunities and any further data you may need to thrive in the semiconductor manufacturing equipment industry. This semiconductor manufacturing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The semiconductor manufacturing equipment market consists of sales of DUV lithography, EUV lithography, single-wafer spray systems, single-wafer cryogenic systems, batch immersion cleaning systems, water surface conditioning equipment, batch spray cleaning systems, etching, scrubbers and other semiconductor manufacturing equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.