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Semiconductor Equipment Market to Grow at CAGR of 7% from 2018-2026
March 8, 2019 | Business WireEstimated reading time: 3 minutes
According to Coherent Market Insights, the global semiconductor equipment market is projected to exhibit an impressive CAGR of 7.2% over the 2018-2026 forecast period.
Key Trends and Analysis of the Semiconductor Equipment Market:
The semiconductor equipment industry is shifting to smaller, compact, and cost effective products. From the consumer electronics to high end-industrial sectors, semiconductor equipment have established their distinct position in market. In the semiconductor industry, companies that manufacture or supply semiconductor materials and equipment, are expected to experience continued growth with rising technological advancements.
According to the Coherent Market Insights, the global semiconductor market grew by 8.2% and reached $61.79 billion. in 2018, to meet the rapidly rising demand for semiconductor equipment in AI programs, such as autonomous vehicles, internet of things, and AI-powered electronics. The semiconductors equipment are used extensively in many consumer electronic devices, such as smartphones, flat-screen monitors & LED TVs, military systems, and civil aerospace. The industry is set to grow with a surge of needs such as AI capabilities, long battery life and biometrics.
Moreover, growth in cloud computing, internet-connected devices, and artificial intelligence will further contribute to growth of semiconductor equipment market. However, semiconductors equipment market faces some major concerns with respect to the higher R&D costs, fluctuating foreign exchange rates, and regional imbalance in consumption patterns, which will impact the semiconductor equipment market during the forecast period.
The global semiconductor equipment market is segmented on the basis of product type, application, equipment, end use, and region. Among product type, semiconductor front-end equipment segment held the dominant position in the market in 2017, owing to its ability to perform lithography, surface preparation, deposition, etching, inspection, ion implant, and thermal processing for manufacturing of semiconductor equipment.
Among end-use, mobile handset segment held the dominant position in the market in 2017, and is expected to retain its position throughout the forecast period. Growing demand for the consumer electronics market, particularly from the mobile phone and PC markets, as well as high capital investments from leading chip manufacturers, such as SK Hynix, Samsung, and SMIC are expected to drive growth of the semiconductor equipment during the forecast period. For instance, the semiconductor equipment in India is driven by increased adoption of mobile phones, and increasing profusion of things such as household appliances, audio-visual equipment or automobiles industry. The country has become more prosperous, and as more people are able to afford these kinds of devices, which in turn is increasing utilization of semiconductor equipment.
Asia Pacific held dominant position in the global semiconductor equipment market in 2017, and is projected to maintain its dominance during the forecast period, owing to growing demand for consumer electronics and integration of semiconductor equipment into devices across various sectors such as industrial, automotive, military, communications, etc. in the region. For instance, in December 2017, Canon Inc., one of the Japanese optical products company, announced that Company has commenced sales of a "200 mm option" for the FPA-5550iZ2 i-line1 and the FPA-6300ES6a KrF2 semiconductor lithography equipment.
These two systems are prominent for their ability to produce logic, memory and image sensor devices required for IoT as well as automotive technologies. This will enable Canon Inc. to respond even more quickly to the demands of the market and customers, helping the company to attain sustainable medium- to long-term growth.
Moreover, growth in semiconductor equipment has been propelled by consumer electronics assembled for export, China’s domestic consumption represents an increasing share of China’s semiconductor equipment market. Domestic consumption is driven by data processing and communications applications sectors, with consumer electronics.
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