Semiconductor Manufacturing Equipment Market Share Worth US$ 220 billion by 2033 at 7.7% CAGR | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Technological Advancement in Consumer Electronics is Lifting the Market of Semiconductor Manufacturing Equipment. The United States semiconductor manufacturing equipment market is set to grow by 7.8% by 2033.
NEWARK, Del, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The global semiconductor manufacturing equipment market is estimated to be US$ 96.7 billion in 2022 and is expected to reach US$ 105.1 billion by 2023. The global market is predicted to grow at a rate of 7.7% from 2023 to 2033, making it a beneficial investment.
By 2033, it is projected to reach a valuation of US$ 220 billion. This growth is due to the increasing demand for semiconductor manufacturing equipment components, driven by the increase in electronics, automotive, and data processing industries.
Semiconductor manufacturing equipment is a vital component of the semiconductor industry, covering chip design, wafer manufacturing, packaging, and testing. It is the driving force behind the development of the semiconductor industry, which produces small electronic devices made from semiconductors such as silicon, germanium, or gallium arsenide compounds. The rapid advancement in manufacturing and increasing acceptance of connected devices among consumers.
The consequent increase in fabrication facilities and the expanding usage of semiconductors in EV manufacturing.
Growing adoption of 5G technology and the rising acceptance of autonomous vehicles.
The worldwide digitalization and the advanced use of electronic devices like laptops, smartphones, and televisions have increased demand for semiconductor manufacturing equipment, particularly in emerging economies. The use of silicon wafers has also improved. Despite contributing significantly to global market growth, budgetary and geopolitical constraints may impact the overall growth rate of the semiconductor manufacturing equipment industry.
Asia Pacific is expected to register the highest CAGR during the forecast period due to the presence of rapidly developing economies, the rising demand for semiconductor manufacturing equipment, the presence of major players in Japan, Taiwan, and China, the increasing need for high-quality processing equipment for semi-conductive materials, and growing government initiatives to support semiconductor industries.
The pandemic has caused supply chain disruptions that may limit the market's growth to a certain extent. Furthermore, creating user-friendly and easy-to-integrate designs is a challenge for market expansion. Nonetheless, government initiatives to promote the semiconductor industry and the growing use of connected devices in home automation are expected to provide substantial opportunities for market development.
“Rapid growth in automotive and industrial electronics and the proliferation of IoT devices is accelerating the market. Room for the advancement in manufacturing integrated silicon chips for consumer electronics and automobiles is catching the eyes of manufacturers and business leaders.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Key Takeaways from the Semiconductor Manufacturing Equipment Market
The global semiconductor manufacturing equipment market is estimated to register a CAGR of 7.7% with a valuation of US$ 220 billion by 2033.
The market captured a CAGR of 9.2% in the historical period between 2018 and 2022.
South Korea is anticipated to dominate the global market by registering a 9.8% CAGR during the forecast period.
With an 8.9% CAGR, the United Kingdom is driving the global market by 2033.
Japan is anticipated to secure a CAGR of 8.8% in the global market during the forecast period.
Key Strategies:
Innovation in electronic devices, automation, and automobiles is attracting manufacturers and industry experts. Over the last few decades, the semiconductor industry has made significant progress, creating smaller, faster, and more reliable devices that have replaced the bulky and hefty vacuum tube technology of the past. Moreover, companies rely on their research and development skills, new materials and techniques, and supply chain management to maintain a competitive advantage.
Recent Developments in the Semiconductor Manufacturing Equipment Market
In 2023, Lam Research India plans to invest US$ 25 million with a US$ 3 million government incentive.
In March 2023, SCREEN PE Solutions Co., Ltd. launched Ledia 7F-L, a direct imaging system designed for high-precision pattern formation on large-sized substrates and metal masks, particularly for telecom and IoT infrastructure.
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
Semiconductor Capital Equipment Market Analysis: The global market size is likely to be valued at US$ 82 billion in 2023. The market revenue has the potential to exceed US$ 161 billion by 2033, with a projected CAGR of 7.0%
Wi-Fi Semiconductor Chipset Market Outlook: The global market is expected to reach US$ 20.1 Billion in 2022. It is projected to surpass US$ 26.3 Billion and exhibit growth at a CAGR of 5.2% from 2022 to 2032.
Automotive Semiconductor Market Overview: The global market is expected to be valued at US$ 58770.1 million in 2023 and to reach a valuation of US$ 115609.68 million by 2033. The demand for Automotive Semiconductor is estimated to grow at a steady 7% CAGR, with the United Kingdom, the USA, China, and India emerging as key producers.
Semiconductor Intellectual Property Market Share: The market is expected to witness substantial growth over the next decade, with a projected CAGR of 6.6%. This growth trajectory suggests that by the conclusion of 2033, the market is likely to achieve an impressive valuation of nearly US$ 13.10 billion, a significant increase from its worth of US$ 6.83 billion in 2023.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
