Global semiconductor equipment market forecast: $87B in 2023, and 100B in 2024

Global semiconductor equipment revenue in the year 2023 to go down by 18.6% where it is estimated to generate a revenue of $87.4 billion, compared to record revenue of $107.4 billion in 2022, as per the latest study by semiconductor equipment industry body SEMI. However in the year 2024 SEMI forecast a growth of 14.4% to reach $100 billion driven by both the front-end and back-end segments. “Despite current headwinds, the semiconductor equipment market is set to see a strong rebound in 2024 after an adjustment in 2023 following a historic multi-year run,” said Ajit Manocha, SEMI president and CEO. “Projections for robust long-term growth driven by high-performance computing and ubiquitous connectivity remain intact.” Other findings shared by SEMI includes: Semiconductor Equipment Sales by Segment Sales of wafer fab equipment, which includes wafer processing, fab facilities and mask/reticle equipment, are projected to decrease 18.8% to $76.4 billion in 2023 – more than the 16.8% decline predicted by SEMI in the 2022 year-end forecast. The wafer fab equipment segment is projected to account for the bulk of the recovery to $100 billion in 2024, generating $87.8 billion in sales, a 14.8% increase. The 2022 decline in back-end equipment segment sales is expected to continue in 2023 due to challenging macroeconomic conditions and softening semiconductor demand. Semic...