In 2021, the semiconductor manufacturing equipment market in APAC held the largest share and by 2027, it is expected to grow at the highest CAGR during the forecast period
The global semiconductor manufacturing equipment market was valued at $95.3 billion in 2021 and is projected to reach $175 billion by 2027. It, as per a report by Markets & Markets, is anticipated to register a CAGR of 8.5 per cent during the forecast period.
“Surging demand for AI chips driven by future AI-driven workloads and applications is propelling the demand for semiconductor manufacturing equipment worldwide,” read the report.
In 2021, the semiconductor manufacturing equipment market in APAC held the largest share and by 2027, it is expected to grow at the highest CAGR during the forecast period. The market is driven by continuous developments in the semiconductor industry, expansion activities by the market players in the region, and financial support for the semiconductor industry by Asian governments.
The lithography equipment market is expected to hold the largest share due to the globally increasing demand for semiconductor devices. The rising demand for semiconductor chips across various end-use industries leads to the increased adoption of photolithography equipment, which, in turn, propels the growth of the lithography segment. Key players in the Semiconductor Manufacturing Equipment Market are also adopting organic growth strategies to strengthen their semiconductor manufacturing equipment product portfolio.
The wafer testing segment is expected grow at the highest CAGR during the forecast period. The growth is attributed to the need of high-accuracy ICs. Modern ICs need to incorporate multiple functions, and the complex circuitry needs proper testing equipment to achieve accuracy. The chemical control equipment segment is projected to grow at the highest CAGR during the forecast period. Contamination control by chemical control equipment has a significant impact on the yield and equipment efficiency, as these equipment provide repeated and reliable delivery of pure chemicals during the semiconductor manufacturing processes.
The memory segment is anticipated to hold the largest share of the Semiconductor Manufacturing Equipment Market. An increased use of memory ICs is anticipated in the automotive sector due to the growing trend of electric vehicles and autonomous vehicles.
