WELLESLEY, Mass., Nov. 12, 2018 (GLOBE NEWSWIRE) -- The global market for semiconductor machinery manufacturing has the potential to see significant growth, according to the new BCC Research report, Semiconductor Machinery Manufacturing: Global Markets to 2023. Semiconductors are used extensively in electronic products, which are in higher demand now more than ever. Additionally, increasing investments in smart city projects and rising investments in semiconductor research projects are driving the demand for semiconductor machinery in the forecast period.
The semiconductor machinery manufacturing market reached a value of nearly $57.8 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 14.6%, reaching nearly $114.4 billion by 2023.
Major players in the market include Applied Materials Inc., ASML Holding N.V. (ASMLF), Lam Research Corporation (LRCX), SCREEN Holdings Co., Ltd., and Tokyo Electron Limited (TOELF).
Research Highlights
- The wafer processing equipment segment accounted for the largest share of the semiconductor machinery manufacturing market in 2018 at $50.7 billion. The highest growth is also projected to come from the wafer processing equipment segment, which is forecast to grow at a CAGR of 15.0%.
- The fastest growth in the semiconductor machinery manufacturing market is predicted for Western Europe, estimated to grow at a CAGR of 16.8%, followed by Asia Pacific, which is expected to grow at a CAGR of 16.1%.
- China and Japan are forecast to have the fastest growth, growing at a CAGR of 35.1% and 20.9%, respectively.
“The semiconductor machinery manufacturing market is expected to benefit from rising investments in smart city projects in many developed and developing countries,” the report notes. “Smart city technologies are being used to manage assets and resources efficiently, including management of transportation systems, water supply networks and law enforcement. Smart city technologies are integrated with IoT devices and equipment, which extensively use semiconductor devices, thereby benefiting the companies operating in the semiconductor machinery manufacturing market.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.