BANGALORE, India, May 6, 2021 /PRNewswire/ -- The Semiconductor Manufacturing Equipment Market is Segmented by Type (Front-end Equipment, Backend Equipment), by Application (Automation, Chemical control equipment, Gas control equipment, Others). The report covers global opportunity analysis and industry forecast from 2021 to 2026. It is published on Valuates Reports in the Manufacturing Category.
The global Semiconductor Manufacturing Equipment market is projected to reach USD 53200 Million by 2027, from USD 39510 Million in 2020, at a CAGR of 3.9% during the forecast period 2021-2027.
Major factors driving the growth of the semiconductor manufacturing equipment market are:
Growing consumer electronics market and rise in trend of miniaturization and technology migration.
High need for chips to offer computation power and connectivity for AI functions and increasing demand for electric and hybrid vehicles.
Rising demand for medical electronics, computers and other digital devices due to COVID -19 crisis. In addition to increase in demand there are other factors resulting in acute chip shortage.
MAJOR FACTORS DRIVING THE GROWTH OF SEMICONDUCTOR MANUFACTURING EQUIPMENT MARKET
Growing consumer electronics demand is expected to drive the growth of the Semiconductor manufacturing market size. Consumer electronics is one of the most important industries that rely solely on the semiconductor industry. Changing chip sizes and innovative architectures in various electronic devices have boosted semiconductor demand, which has benefited semiconductor equipment manufacturers.
Automotive industry players are constantly forming new collaboration and alliance arrangements in order to expand their market reach for advanced vehicle technologies. This would have a positive impact on the advancement of the semiconductor manufacturing equipment market.
Furthermore, the rising demand for silicon-based sensors for IoT devices, as IoT device penetration rises as a result of the covid-19 pandemic, the spread of chip industries in emerging markets, the rise in the number of data centers and servers are all factors that could boost the semiconductor manufacturing equipment market.
The introduction of advanced technologies in semiconductor manufacturing equipment, such as AI and IoT, would accelerate their adoption in fabrication facilities. This, in turn, is expected to create lucrative growth opportunities for the semiconductor manufacturing equipment market players.
Based on application, the Chemical Control Equipment segment is expected to be the most lucrative in the Semiconductor Manufacturing Equipment as it is required for the repeatable and reliable delivery of chemicals during the semiconductor manufacturing processes.
Based on region, North America dominates the semiconductor manufacturing equipment market. The increasing demand for hybrid and electric vehicles in the North American region has, in turn, increased the demand for semiconductors. The presence of well-known manufacturers has only added to the region's prominence in the semiconductor manufacturing equipment industry.
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