Semiconductor Manufacturing Equipment Market Scope 2031
The semiconductor manufacturing equipment market size is expected to grow from US$ 97.15 billion in 2023 to US$ 209.05 billion by 2031; it is estimated to grow at a CAGR of 10.1% from 2023 to 2031. Advanced packaging integration in manufacturing equipment is likely to remain a key semiconductor manufacturing equipment market trend.
Semiconductor Manufacturing Equipment Market Analysis
This semiconductor manufacturing equipment market encompasses various players, including semiconductor equipment manufacturers, capital companies, tool manufacturers, metrology companies, and used semiconductor equipment suppliers. Semiconductor equipment manufacturers are at the forefront of developing cutting-edge equipment used in semiconductor manufacturing. These companies design and produce tools that enable various stages of semiconductor fabrication, such as lithography, etching, deposition, and wafer testing. Their innovations drive the advancements in semiconductor technology and enable the production of smaller, faster, and more powerful chips. Semiconductor capital companies play a vital role by providing financial resources and investments to semiconductor machinery manufacturers and equipment suppliers. These companies recognize the importance of the semiconductor industry and its growth potential, and they actively contribute to market development. Semiconductor tool manufacturers are specialized firms that produce specific tools and equipment used in semiconductor manufacturing. These tools include wafer processing systems, metrology equipment, packaging equipment, and testing solutions. They work closely with semiconductor manufacturers to meet their specific requirements and ensure the quality and efficiency of the manufacturing process.
Semiconductor Manufacturing Equipment Market Overview
The semiconductor manufacturing equipment market plays a critical role in supporting the production of semiconductors, including integrated circuits (ICs) manufacturing companies, which are the backbone of modern electronic devices. Semiconductor manufacturing equipment is the processing machinery utilized to form a variety of electrical and integrated circuits (ICs). The growth of telephony, computers, biotechnology, military technology, aviation, renewable energy, and other fields is made possible by semiconductors, which are a crucial part of electronic equipment. Circuits, memory chips, IC chips, and a wide range of other goods are all made using equipment for the fabrication of semiconductors.
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Semiconductor Manufacturing Equipment Market: Strategic Insights
Market Size Value in US$ 62.10 Billion in 2018 Market Size Value by US$ 101.58 Billion by 2027 Growth rate CAGR of 5.2% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Semiconductor Manufacturing Equipment Market: Strategic Insights
| Market Size Value in | US$ 62.10 Billion in 2018 |
| Market Size Value by | US$ 101.58 Billion by 2027 |
| Growth rate | CAGR of 5.2% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Semiconductor Manufacturing Equipment Market Drivers and Opportunities
Increasing Consumption Of Consumer Electronics to Favor Market Growth
The increasing consumption of consumer electronics is a significant driver for the growth of the semiconductor manufacturing equipment market. Consumer electronics, including smartphones, tablets, laptops, smart appliances, and wearable devices, have become integral to people's lives, driving the demand for advanced semiconductor chips. As consumer electronics evolve with new features, higher performance, and increased connectivity, semiconductor manufacturers face the challenge of meeting these demands. This necessitates adopting advanced manufacturing processes and equipment to produce smaller, more powerful, and energy-efficient chips. Semiconductor equipment manufacturers play a crucial role in addressing this demand. They develop and provide innovative equipment and tools that enable the production of these advanced chips. For example, lithography systems, which use optical or EUV (Extreme Ultraviolet) technology, are utilized for patterning intricate circuitry on wafers. Etching equipment helps in precise material removal, while deposition tools enable the controlled deposition of thin films on the wafer surfaces. These equipment advancements enable semiconductor manufacturers to fabricate smaller transistors and increase chip density, resulting in higher-performance devices.
Proliferation of AI and IoT - An Opportunity in the Semiconductor Manufacturing Equipment Market
AIoT in manufacturing refers to the intersection of IoT with AI. AI-infused IoT enables the semiconductor equipment to independently examine data, analyze it, and make decisions without any human involvement. Moreover, companies such as SAP, IBM, and PDF Solutions have joined forces to develop innovative solutions that leverage the Internet of Things (IoT), manufacturing solutions, and AI technologies to address the pain points of the semiconductor industry.
Semiconductor Manufacturing Equipment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the semiconductor manufacturing equipment market analysis are the equipment type, end use, and dimension.
- Based on the equipment type, the semiconductor manufacturing equipment market is segmented into wafer manufacturing equipment, assembly & packaging equipment, test equipment, and others.
- Based on end use, the semiconductor manufacturing equipment market is segmented into semiconductor fabrication plant/foundry, semiconductor electronics manufacturing, and testing home.
- Based on dimension, the semiconductor manufacturing equipment market is segmented into 2D, 2.5D, and 3D.
Semiconductor Manufacturing Equipment Market Share Analysis by Geography
- The semiconductor manufacturing equipment market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2023.
- The Asia Pacific region has some of the largest chip manufacturers globally. These companies, often called "biggest chip manufacturers," drive the demand for semiconductor manufacturing equipment. Their large-scale production facilities require advanced equipment and technologies to meet the growing needs of various industries, including consumer electronics, automotive, and telecommunications. The region has witnessed rapid growth in the consumption of consumer electronics. With a rising population and increasing disposable incomes, countries in the Asia Pacific region have become major markets for smartphones, tablets, laptops, and other electronic devices. This surge in demand for consumer electronics directly translates into increased demand for semiconductor chips, thereby driving the need for semiconductor manufacturing equipment.
Semiconductor Manufacturing Equipment Market Report Scope
Semiconductor Manufacturing Equipment Market News and Recent Developments
The peer to the peer insurance market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the semiconductor manufacturing equipment market:
- In April 2023, Hitachi High-Tech Corporation announced plans to construct a new production facility in the Kasado Area of Kudamatsu City, Yamaguchi Prefecture, with a view to increasing the production capacity of etching systems for its semiconductor manufacturing equipment business, with production scheduled to begin in FY2025.
(Source: Hitachi, Press Release)
- In October 2023, Canon announced the launch of the FPA-1200NZ2C nanoimprint semiconductor manufacturing equipment, which executes circuit pattern transfer, the most important semiconductor manufacturing process. The new product employs newly developed environment control technology that suppresses the contamination with fine particles in the equipment.
(Source: Canon, Press Release)
Semiconductor Manufacturing Equipment Market Report Coverage and Deliverables
The "Semiconductor Manufacturing Equipment Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Equipment Type ; End Use ; Dimension
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
Asia Pacific is expected to hold the highest market share in the semiconductor manufacturing equipment market.
The key players holding majority shares in the global semiconductor manufacturing equipment market areASML Holding N.V., Hitachi High-Technologies Corporation, Rudolph Technologies, Inc., Advantest Corporation, and Applied Materials, Inc.
Advanced packaging integration in manufacturing equipment is anticipated to play a significant role in the global semiconductor manufacturing equipment market in the coming years.
Increasing consumption of consumer electronics, convergence of electronics and automotive industry are the major factors driving the semiconductor manufacturing equipment market.
The global semiconductor manufacturing equipment market was estimated to be US$ 97.15 billion in 2023 and is expected to grow at a CAGR of 10.1% during the forecast period 2024 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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