Semiconductor Manufacturing Equipment Market Size, Share, Report 2023-2032
The global semiconductor manufacturing equipment market size was estimated at around USD 96.7 billion in 2022 and it is projected to hit around USD 204.17 billion by 2032, growing at a CAGR of 7.76% from 2023 to 2032. The semiconductor manufacturing equipment market in the United States was accounted for USD 9.1 billion in 2022.
Key Pointers
Report Scope of the Semiconductor Manufacturing Equipment Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 68.05% |
| CAGR of Asia Pacific from 2023 to 2032 | 8.23% |
| Revenue Forecast by 2032 | USD 204.17 billion |
| Growth Rate from 2023 to 2032 | CAGR of 7.76% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Applied Materials Inc.; Lam Research Corporation; KLA Corporation; ASML; Tokyo Electron Limited; Advantest Corporation; SCREEN Semiconductor Solutions Co., Ltd.; Cohu, Inc.; ACM Research Inc.; Nordson Corporation; Tokyo Seimitsu Co., Ltd.; EV Group (EVG); Modutek Corporation; Dainippon Screen Group; Ferrotec Holdings Corporation |
The surging demand for miniature devices, coupled with improvements in functionalities of electronic products such as laptops, smartphones, digital cameras, etc., is anticipated to bolster the market growth during the study period. The demand for semiconductors is increasing progressively as the design of I.C. is getting complicated and more semiconductor products are implanted for manufacturing I.C. The semiconductors are utilized in I.C. development because they help to minimize the cost of I.C. development, reduce time in mass production, and enhance the final product value in terms of operation.
The rise in demand for consumer electronic products can be ascribed to the increasing disposable income across populations coupled with augmenting demand for advanced electronic products. The escalating adoption of electronic products in the workplace, in daily routine, and entertainment, is expected to increase the demand for semiconductors during the projected years and support market growth.
The growth of semiconductor manufacturing equipment is anticipated to be supported by the evolution of cloud technology, the development of 5G networks, and the rising demand for connected vehicles. Additionally, individuals are ready to spend more on advanced gadgets to improve their living standards and electronic product experience.
Semiconductor manufacturing equipment manufacturers are adopting different business models that include a usage-based model, a subscription model, and an outcome-based model. These business models help increase the customer base as the cost of the equipment is very high, and it is not feasible for a medium-scale organization to purchase new machinery. Therefore, the equipment as a service model facilitates the company to produce semiconductors on a rental basis. This is anticipated to support the market growth as the growth in the number of semiconductor manufacturers would positively support the market growth.
The end-users of the semiconductor manufacturing equipment are expected to bolster the market growth during the projected years, as the companies are increasing their production capacity of semiconductors. For instance, in March 2023, Samsung Electronics announced that the company is planning to invest USD 228 billion in an advanced semiconductor facility in South Korea. This kind of initiative by the companies is expected to augment the market growth during 2023-2032 years.
Process Insights
Front-end process led the market and accounted for 73.35% of the semiconductor manufacturing equipment revenue share in 2022. Furthermore, the segment is expected to witness the fastest CAGR of 8.02% from 2023 to 2032. In wafer fabrication facilities, front-end equipment is anticipated to be in high demand.
The front-end process is also being adopted for the manufacturing of silicon wafers, photolithography, deposition, etching, ion implantation, mechanical polishing machines, and many others. The escalating demand for highly efficient and packed semiconductors for GPUs, IoT devices, CPUs, and other devices is primarily responsible for the progressive demand for front-end equipment.
The surging production of silicon wafers is owing to the rapid digitalization and extensive application of the product in laptops, television, smartphones, and other electronic products. Silicon wafers are extensively used as semiconductors in manufacturing integrated circuits and electronics including numerous transistors and other critical components.
The back-end segment is expected to propel at a CAGR of 6.93% during the projected years. The segment is anticipated to observe progressive growth with the evolution of compact packaging solutions primarily for automotive and consumer electronic industries.
Dimension Insights
The 2.5D segment led the market and accounted for 39.83% of the revenue share in 2022. The growth of the segment is attributed to the number of benefits associated with the product, such as high chip functionalities, higher bandwidth, wider bandwidth, and minimal cost & time for wiring. Additionally, growth in electronic devices and smart gadgets is resulting in the need for semiconductors fabrication facilities.
The semiconductor manufacturing equipment market for 3D IC manufacturing is expected to progress at a CAGR of 10.44% during the projected years. The surge in demand for miniature portable devices like smartphones, tablets, etc., is expected to augment the product demand in the coming years.
The 2.5D is an interposer technology, and this semiconductor component finds applications where parameters such as low power and higher performance are a major concern. In addition, the 2.5D architecture is primarily paired with high-bandwidth memory modules for improving the performance of the equipment. The traditional form of semiconductor has become very complex, therefore, there is an increased inclination toward 2.5D and 3D packaging architecture for high chip functionality.
Application Insights
The semiconductor fabrication plant/foundry segment led the semiconductor manufacturing equipment market and accounted for 46.83% of the revenue share in 2022. The growth is significantly attributed to the expansion of industrial manufacturing over the forecast period. The growing population is creating an increased need for smartphones, laptops, smart home care products, wearables, and other innovative electronic products. The rising demand in turn is expected to boost the demand for semiconductor manufacturing equipment.
The manufacturing of semiconductor electronics is expected to expand rapidly due to increased awareness about testing semiconductors and their components. Furthermore, it is anticipated that strict government regulations governing the testing of electronic devices will favorably impact market expansion throughout the projected years.
The semiconductor fabrication plant/foundry segment is likely to grow at the fastest CAGR of 8.33% over the forecast period. These equipment are majorly adopted at the fabrication site to assist the production of semiconductor products like chips, image sensors, and memory. Additionally, the electronics industry is observing progressive demand from consumer electronics, telecommunication, and computers. Hence, it is anticipated to drive the market growth during the projected years.
Regional Insights
Asia Pacific led the market and accounted for 68.05% of the global revenue share in 2022 and is expected to grow at a CAGR of 8.23% during the forecast period. The region has a large number of semiconductor, and electronic product manufacturers, primarily in countries like China, India, Taiwan, and Japan. This has surged the demand for semiconductor manufacturing equipment in the region.
Taiwan is a major hub of semiconductor manufacturers and has a huge demand for applications in new technologies such as 5G, automotive, Internet of Things, AI, and big data. Furthermore, the increased spending on new fab equipment for the fabrication of semiconductor products would progress the market growth during the projected years.
Germany held the majority share of the Europe semiconductor manufacturing equipment industry and is expected to propel at a CAGR of 41.6% in the coming years. Germany holds the fourth position globally in terms of manufacturing electronic products and is also a significant European market for semiconductor manufacturing equipment.
Semiconductor Manufacturing Equipment Market Segmentations:
By Process
By Dimension
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Process Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Semiconductor Manufacturing Equipment Market
5.1. COVID-19 Landscape: Semiconductor Manufacturing Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Semiconductor Manufacturing Equipment Market, By Process
8.1. Semiconductor Manufacturing Equipment Market, by Process, 2023-2032
8.1.1 Front-end
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Back-end
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Semiconductor Manufacturing Equipment Market, By Dimension
9.1. Semiconductor Manufacturing Equipment Market, by Dimension, 2023-2032
9.1.1. 2D
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. 2.5D
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. 3D
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Semiconductor Manufacturing Equipment Market, By Application
10.1. Semiconductor Manufacturing Equipment Market, by Application, 2023-2032
10.1.1. Semiconductor Electronics Manufacturing
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Semiconductor Fabrication Plant/Foundry
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Testing & Inspection
10.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Semiconductor Manufacturing Equipment Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Process (2020-2032)
11.1.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Process (2020-2032)
11.2.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Process (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Process (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Process (2020-2032)
11.3.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Process (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Process (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Process (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Process (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Process (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Process (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Dimension (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. Applied Materials Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Lam Research Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. KLA Corporation
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. ASML
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Tokyo Electron Limited
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Advantest Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. SCREEN Semiconductor Solutions Co., Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Cohu, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. ACM Research Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Nordson Corporation
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers