The Semiconductor Manufacturing Equipment Market is projected to reach USD 175.0 billion by 2027 from USD 95.3 billion in 2021; it is anticipated to register a CAGR of 8.5% during the forecast period.

The semiconductor manufacturing equipment companies such as Tokyo Electron Limited, SCREEN Holdings Co., Ltd., Advantest, Hitachi High-Tech Corporation, Nikon Corporation, Daifuku Co. Ltd., and others.

Surging demand for AI chips driven by future AI-driven workloads and applications is propelling the demand for semiconductor manufacturing equipment worldwide.

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The lithography equipment segment:

The lithography equipment market is expected to hold the largest share due to the globally increasing demand for semiconductor devices. The rising demand for semiconductor chips across various end-use industries leads to the increased adoption of photolithography equipment, which, in turn, propels the growth of the lithography segment. Key players in the Semiconductor Manufacturing Equipment Market are also adopting organic growth strategies to strengthen their semiconductor manufacturing equipment product portfolio.

Wafer testing segment:

The wafer testing segment is expected grow at the highest CAGR during the forecast period. The growth is attributed to the need of high-accuracy ICs. Modern ICs need to incorporate multiple functions, and the complex circuitry needs proper testing equipment to achieve accuracy.

Chemical control equipment segment:

The chemical control equipment segment is projected to grow at the highest CAGR during the forecast period. Contamination control by chemical control equipment has a significant impact on the yield and equipment efficiency, as these equipment provide repeated and reliable delivery of pure chemicals during the semiconductor manufacturing processes.

Memory segment :

The memory segment is anticipated to hold the largest share of the Semiconductor Manufacturing Equipment Market. An increased use of memory ICs is anticipated in the automotive sector due to the growing trend of electric vehicles and autonomous vehicles.

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3D ICs segment:

The Semiconductor Manufacturing Equipment Market for 3D IC manufacturing is expected to grow at the highest CAGR during the forecast period. The increased demand for improved functionalities in and miniaturization of portable hand-held devices such as cell phones, personal digital assistant (PDAs), digital cameras, and laptop computers, manufacturers and IDMs are expected to prefer 3D ICs.

IDM firms segment:

The market for the IDM firms segment is expected to grow at the highest CAGR during the forecast period. The segment also held the largest share of the Semiconductor Manufacturing Equipment Market, as most firms are tier 1 companies with substantial R&D spending, a vast customer base, and a significant global presence.

APAC Region Analysis:

In 2021, the Semiconductor Manufacturing Equipment Market in APAC held the largest share and by 2027, it is expected to grow at the highest CAGR during the forecast period. The market is driven by continuous developments in the semiconductor industry, expansion activities by the market players in the region, and financial support for the semiconductor industry by Asian governments.