The semiconductor equipment market comprises tools and apparatus that are used for the manufacturing of semiconductors. Semiconductor equipment includes front-end equipment such as lithography, etch, deposition, and wafer manufacturing and back-end equipment such as assembly and packaging and testing. Semiconductor equipment is crucial in the development of integrated circuits that are used across numerous end-use industries including consumer electronics, automotive, communications, industrial, and others. The increasing demand for semiconductor devices in smartphones, computers, automotive, and other electronic items is one of the major factors driving the growth of the semiconductor equipment market. The global market for semiconductor equipment is fueled by rapid technology shifts and demand for more powerful and energy-efficient chips.

The Global Semiconductor Equipment Market is estimated to be valued at US$ 95.97 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the Semiconductor Equipment market are Northrop Grumman Corporation, BAE Systems, Lockheed Martin Corporation, Clearpath Robotics Inc., John Bean Technologies Corporation, ECA Group, Israel Aerospace Industries Ltd., Endeavor (Now a part of FLIR system), Harris Corporation, and General Dynamics. The increasing demand for semiconductor devices across various industries including consumer electronics, automotive, and industrial equipment is expected to drive the semiconductor equipment market growth over the forecast period. Major semiconductor equipment manufacturers are expanding their global footprint to capitalize on the growing demand for semiconductors from Asia Pacific and other emerging markets.

Market drivers
Growing electronics industry is one of the key drivers of the Semiconductor Equipment Market Demand The booming consumer electronics sector with increased sales of smartphones, laptops, tablets and other consumer electronic devices is fueling the demand for semiconductors which in turn is driving the semiconductor equipment market. According to estimates, electronics manufacturing contributed over USD 5 trillion to the global economy in 2021 and this revenue is projected to grow further owing to increasing smartphone and consumer devices penetration globally. The increased use of semiconductors across various end-use industries will continue driving market growth of semiconductor equipment over the next few years.

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