Wilmington, Delaware, United States, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The semiconductor production equipment market was worth US$ 108.6 billion in 2022. By 2031, the market is expected to reach US$ 152.5 billion, growing at a 4.5% CAGR from 2023 to 2031. As electric vehicles continue to grow in popularity and advanced driver assistance systems (ADAS) are integrated into vehicles, specialized semiconductors are crucial. Regular updates are necessary for semiconductor production equipment to meet the evolving needs of the automotive industry.
Investments in new production equipment can be fueled by government support and subsidies that are available to the semiconductor industry. Subsidies for research and development can also be part of these incentives. A recent global shortage of semiconductors has highlighted the necessity of a robust supply chain.
To increase production capacity and improve supply chain efficiency, manufacturers may invest in new production equipment. Sustainable processes and equipment are becoming more important to semiconductor manufacturers as sustainability becomes more of a concern.
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Global Semiconductor Production Equipment Market: Growth Drivers
- Chip designs that meet the requirements of cutting-edge technology are driven by continuous improvements in semiconductor manufacturing technologies, which involve smaller process nodes and advanced materials.
- As smartphone, laptop, and smart home appliances become more popular, the demand for semiconductor manufacturing equipment continues to rise.
- As Internet of Things (IoT) devices proliferate across a variety of industries, semiconductor markets are on the rise. The demand for equipment that can produce high-quality semiconductor components in large quantities is increasing as more IoT devices use semiconductor components.
- As 5G networks are implemented around the world, semiconductor components will be in high demand, including those used in smartphones, cellular towers, and other 5G-enabled devices. As a result, semiconductor production equipment gets more advanced.
- The growing integration of AI and machine learning into a variety of applications, from data centers to edge devices, necessitates the use of specialized semiconductor components. Equipment that can produce semiconductors that can handle the unique requirements of AI and machine learning applications is in high demand.
Global Semiconductor Production Equipment Market: Key Players
Several major semiconductor equipment manufacturers are investing in research and development activities in order to remain competitive. New raw materials are being used to make chipmaking machinery more efficient and perform better, like silicene, graphene, and germanene. As part of their commitment to improving performance, they are also investing in advanced analytics.
- Applied Materials Inc.
- ASML Holding N.V.
- Lam Research Corporation
- KLA Corporation
- Advantest Corporation
- Teradyne Inc.
- Canon Inc.
- Nikon Corporation
- Hitachi, Ltd.
- Screen Holdings Co. Ltd.
- Tokyo Electron Limited
- Tokyo Seimitsu Co. Ltd.
Key Findings of Market Report
- The semiconductor production equipment market in Asia Pacific is expected to grow substantially in the coming years.
- Based on equipment type, the demand for test equipment is likely to increase over the next few years.
- In terms of dimensions, the 3D semiconductor market is expected to grow at a rapid pace.
- Based on application, manufacturers of semiconductor electronics will likely create markets in the future.
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Global Semiconductor Production Equipment Market: Regional Landscape
- The semiconductor production equipment market is expected to flourish in Asia Pacific. Electronics and automotive industries are expected to create market demand in the next few years. Several semiconductor companies are based in Asia Pacific regions, particularly in China, South Korea, Japan, and Taiwan. The demand for cutting-edge semiconductors is continually increasing as technology advances.
- A significant and growing market for consumer electronics exists in the Asia Pacific region. Electronic devices such as smartphones, smart TVs, tablets, and others have been driving semiconductor production for many years. In Asia Pacific, semiconductors are widely used in the automotive industry, which has experienced substantial growth. Electric vehicles (EVs), advanced driver assistance systems, and other automotive technologies are heavily dependent on semiconductors.
- As part of broader economic development strategies, Asia Pacific countries are investing in semiconductors. Boosting local semiconductor manufacturing with government help and initiatives help drive demand. The semiconductor industry is characterized by international interconnections. The Asia Pacific region has increasingly become a source of semiconductor production as companies seek to diversify their supply chains and reduce the region's reliance on just one region.
Global Semiconductor Production Equipment Market: Segmentation
By Equipment Type
- Wafer Processing/Manufacturing Equipment
- Surface Conditioning Equipment
- Resist Processing Equipment
- Thermal Processing Equipment
- Etch Equipment
- Others
- Assembly and Packaging Equipment
- Test Equipment
- Others
By Dimension
- 2D
- 3D
By Application
- Semiconductor Fabrication Plant/Foundry
- Semiconductor Electronics Manufacturer
- Testing Home
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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