Press Release - | Semiconductor Manufacturing Equipment Market to Reach Valuation of USD 153.1 Billion by 2028 - The Rising Need for AI Chips is Fueling Worldwide Demand for Semiconductor Manufacturing Equipment, which has been Pushed by Upcoming AI-Driven Workloads and Technologies |
Vantage Market Research | 28 May 2022
Heavy Industry
Semiconductor Manufacturing Equipment Market to Reach Valuation of USD 153.1 Billion by 2028 - The Rising Need for AI Chips is Fueling Worldwide Demand for Semiconductor Manufacturing Equipment, which has been Pushed by Upcoming AI-Driven Workloads and Technologies
From the period of 2022 to 2028, the Global Semiconductor Manufacturing Equipment Market is expected to reach USD 153.1 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 8.3%.
Significant expansion in the global electronics sector is one of the primary reasons driving the market's favorable outlook. Semiconductors are frequently employed in the production of consumer devices including smartphones, tablets, and laptop computers. Furthermore, rising demand for hybrid and electric cars (H/EVs) is adding to market expansion. Semiconductor Manufacturing Equipment Market is used to assemble many semiconductors on a single chip in order to reduce electrical interference, dissipate heat, and give greater protection to the vehicle's electronic devices.
Other growth-inducing elements are technological improvements such as the use of artificial intelligence (AI) solutions and the integration of linked devices with the Internet of Things (IoT). Electronics makers are incorporating IoT-enabled silicon-based sensors into production equipment to enable remote monitoring of complex circuit boards. Other reasons, including the rising trend of device shrinking, as well as substantial research and development (R&D), are expected to propel the market even further.
Key Highlights from the Report
Market Dynamics:
Demand for Semiconductor Production Facilities is Increasing
Rising semiconductor demand has forced front-end semiconductor production facilities, or fabs, to run at or above 80 percent capacity in recent years, with some fabs working at or near 100 percent. However, because semiconductors are incredibly difficult to manufacture, increasing semiconductor capacity utilization takes time. To fulfill growing demand during the present worldwide chip shortage, the semiconductor industry is considerably expanding fab capacity utilization. According to SEMI's World Fab Forecast, released in June 2021, semiconductor manufacturers started building 19 new high-volume fabs in 2021, with another 10 high-volume fabs planned for 2022. The increase in the number of fabs is mostly driven by the increasing demand for chips in a variety of applications, including communications, computing, healthcare, online services, and automotive.
Initiatives by the Government to Support the Semiconductor Sector
Semiconductors' strategic relevance, as well as their growing importance for economic competitiveness and supply chain resilience, has been a priority for governments around the world. Supply chain disruptions and a global chip shortage are serious problems for all end-user industries, including automotive and consumer electronics. Accelerating geopolitical tensions have highlighted the importance of particular countries rebalancing and strengthening their position in the global semiconductor supply chain. Governments in numerous nations have been researching and developing various programs for the domestic expansion of the semiconductor industry.
Due to the existence of major Semiconductor Manufacturing Equipment Market providers based in China and Taiwan, Asia Pacific holds the largest share and will dominate the industry in the next years. Continuous innovations in the semiconductor sector, growth efforts by regional market participants, and financial support for the semiconductor industry by Asian governments drive the market. Developing countries have a larger market penetration due to appropriate policies implemented by different authorities, which are projected to fuel the expansion of the Semiconductor Manufacturing Equipment Market in the region during the forecast period.
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Heavy Industry
Semiconductor Manufacturing Equipment Market to Reach Valuation of USD 153.1 Billion by 2028 - The Rising Need for AI Chips is Fueling Worldwide Demand for Semiconductor Manufacturing Equipment, which has been Pushed by Upcoming AI-Driven Workloads and Technologies
28 May 2022
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Semiconductor Manufacturing Equipment Market to Reach Valuation of USD 153.1 Billion by 2028 - The Rising Need for AI Chips is Fueling Worldwide Demand for Semiconductor Manufacturing Equipment, which has been Pushed by Upcoming AI-Driven Workloads and Technologies
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