The Semiconductor Equipment Market is being driven by Growing investments in fabrication facilities
The Semiconductor Equipment Market is expected to grow at a CAGR of 7.08% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 37205.6 million. The semiconductor equipment market is experiencing significant growth due to the rising demand for consumer electronics, such as smartphones, hybrid PCs, wearables, and video game consoles. In response, semiconductor companies are investing heavily in expanding their fabrication plants (fabs), with approximately 90% of new fabs being 300mm facilities. Notable investments include Taiwan Semiconductor Manufacturing Co. Ltd. and United Microelectronics Corp.'s planned production facility at their 12-inch wafer fabs in China. This wave of new fabs will have a substantial impact on the semiconductor equipment sector, particularly in markets for wafer-level manufacturing equipment, die-level packaging, assembly manufacturing equipment, and test equipment.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (OSAT, IDMs, Foundries) Geography (APAC, North America, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Semiconductor Equipment Market Research Report
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The semiconductor market is experiencing significant growth due to increasing demand from various sectors, including smartphones, consumer electronics, and wireless technologies. The deployment of 5G and the rise of artificial intelligence, augmented reality, mission-critical services, fixed wireless access, and the Internet of Things are driving this growth. The semiconductor industry is focusing on producing low-cost semiconductors using both 300 mm and 200 mm silicon wafers to meet the demands of mobile subscriptions, mobile broadband subscriptions, and smartphone-related subscriptions. Wafer fabrication equipment is essential for manufacturing semiconductor circuits, memory chips, and other semiconductors used in electronic devices. Additionally, emerging technologies like Silicon Carbide, jet wave machines, AI-enabled chips, Integrated Circuits, optoelectronics, and sensors are gaining popularity in the market. However, the semiconductor shortage remains a challenge for the industry.
The global semiconductor materials and equipment market encompasses companies engaged in the production of semiconductor materials and equipment manufacturing/fabrication, including wafer processing, and back-end semiconductor manufacturing equipment such as testing, assembly, and packaging. Key growth drivers for this market include escalating investments in semiconductor fabrication facilities, fueled by the surging demand for integrated circuits (ICs) in sectors like smartphones, consumer electronics, wireless technologies, artificial intelligence, and the deployment of 5G networks. Furthermore, the increasing adoption of low-cost semiconductors is expected to significantly impact market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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