The semiconductor manufacturing equipment market is projected to grow from USD 66.1 billion in 2020 to USD 103.5 billion by 2025; it is expected to grow at a CAGR of 9.4% from 2020 to 2025. Key factors fueling the growth of this market include the growing consumer electronics market, an increase in the number of foundries, and the trend of miniaturization and technology migration.
Semiconductor manufacturing equipment is largely used by IDMs, OSAT, and foundries to produce ICs. Semiconductor manufacturing equipment plays a key role in the wafer development, testing, and assembly and packaging of semiconductor devices during the fabrication process. Companies operating in this market offer 3 types of equipment—front-end, back-end, and fab facility equipment. Semiconductor manufacturing equipment can be used to develop memory, MPU, logic, discrete, analog, MEMS, and other semiconductor devices. The equipment can be used to design the ICs in 2D, 2.5D, and 3D dimensions.
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In 2019, the IDM firms segment captured the largest share in the semiconductor manufacturing equipment market. Most of the tier 1 IDM companies such as Samsung (South Korea), Texas Instruments (US), Sony Corporation (Japan), and STMicroelectronics (Switzerland) have a significant presence across the world, with a huge customer base. IDMs use semiconductor manufacturing equipment for fabrication, testing, assembly, and another process of complicated semiconductor equipment with high accuracy, driving the growth of the market. Also, the dominance of IMDs is expected to remain constant in the near future due to the increasing number of semiconductor fabrication plants all over the world.
Among dimensions, the equipment for 3D IC manufacturing is expected to witness the highest CAGR in the semiconductor manufacturing equipment market during the forecast period. The demand for 3D ICs is increasing owing to its benefits such as high performance under smaller footprints in various industries such as military, aerospace, consumer electronics, telecommunication, and automotive. Some players in Semiconductor Equipment and Materials International (SEMI) are working on 3D IC standards. Three-dimensional stacked integrated circuits (3D-IC) committee, formed in 2010, includes SEMI members, such as United Microelectronics Corp. (UMC) (Taiwan), Amkor Technology (US), GlobalFoundries (US), Hewlett-Packard (US), and many more.
Among product type, the memory segment is expected to grow at the highest CAGR during the forecast period. New technologies in memory, such as MRAM, ZRAM, PCRAM, and RRAM are expected to replace most of the traditional technologies. This shift in the memory market has demanded the change in dynamics of manufacturing equipment, enforcing semiconductor manufacturing equipment providers to develop more efficient designs for the device manufacturers.
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The semiconductor manufacturing equipment market in APAC is projected to grow at the highest CAGR from 2020 to 2025. The commanding position of APAC is due to the presence of a large number of OSAT companies in the region. More than 60% of OSAT players present across the world have their headquarters in the APAC region. These OSAT companies use semiconductor manufacturing equipment in the semiconductor fabrication process. Taiwan and South Korea contribute to a large number of semiconductor foundries, showcasing larger demand for equipment. The Chinese market is showing impressive growth owing to the cheap labor cost in the country. These factors help the semiconductor manufacturing equipment market to grow in the APAC region.
