(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Wafer Processing Equipment Global Market Report 2024" report has been added to ResearchAndMarkets's offering.

The global market for wafer processing equipment continues to ascend, marking significant progress due to technological innovations and the burgeoning electric vehicle sector. A comprehensive analysis reveals that the wafer processing equipment market, which stood at a robust $143.62 billion in 2023, is poised to reach $153.54 billion in 2024, flourishing at a compound annual growth rate (CAGR) of 6.9%.

Wafer Processing Equipment Market: A Snapshot
The wafer processing equipment market showcases an upward trajectory, attributable to the pervasive adoption of consumer electronics and ongoing advances in industrial automation and IoT. The market size is projected to amplify further, reaching a valorous $195.16 billion by 2028, with a sustained CAGR of 6.2%. A slew of factors, including enhancements in 5G, AI integration, escalating electric vehicle adoption, environmental concerns, and the repercussions of semiconductor shortages, steer this growth.

Enabling Smarter Electronics: Consumer Demand Fuelling the Wafer Processing Market
The demand for sophisticated consumer electronics paves the way for remarkable strides in the wafer processing equipment domain. Consumer requirements for sleeker electronic devices with superior characteristics bolster the need for ultra-smooth, thin wafers, integral to contemporary integrated circuits. The record revenue announced by Apple Inc. in their September 2022 quarter underpins the industry's expansion, erecting a firmer demand for semiconductor components.

• Oxidation Systems: A keystone within the equipment spectrum, these systems are pivotal in generating silicon dioxide, catering to diverse applications like MEMS and CMOS image sensors across varied sectors such as medical, military, and industrial.
• Technological Developments: Innovation remains a cornerstone for industry leaders, with a focus on digital solutions, bevel deposition technology, and integrated metrology to amplify chip production yield.

EV Market Revving Up Demand for Wafer Processing Equipment
Electric vehicles' ascent, with 2022 global sales surpassing 10 million units, directly impacts the growth of the wafer processing equipment market. Semiconductors, produced using this equipment, are indispensable for electric vehicle functionalities, including battery management and control systems.

Challenges and Opportunities: A Delicate Balance
While prospects paint a thriving picture, capital-intensive aspects present hurdles. The burgeoning cost of establishing and maintaining semiconductor fabrication units poses as a tangible challenge to market expansion. Conversely, the consistent quest for miniaturization offers lucrative avenues, as wafers evolve to thinner dimensions to accommodate enhanced device performance, steering a trend towards thinner than 30 μm thickness for 3D stacked DRAM wafers by 2025.

Strategic Movements Reshaping the Landscape
Acquisitions resonate as a strategic pivot within the industry, exemplified by YES's acquisition of SPEC, broadening technological horizons and fortifying market presence. As the industry propels forward, organizations like Lam Research Corporation make notable strides with innovations like Coronus DX, the world's first bevel deposition solution to boost chip production yield.

Renowned organizations within the wafer processing equipment market include Tokyo Electron Limited, Applied Materials Inc., and Nikon Corporation, among others, with Asia-Pacific commanding the market lead, followed closely by Western Europe.

The newfound data streams elucidated within this market research report are critical for understanding current trends, future market potentials, and the myriad dynamics at play in the wafer processing equipment industry. Stakeholders are equipped with a pivotal tool to navigate the technological evolution and capitalize on emergent opportunities.
A selection of companies mentioned in this report includes

• Lam Research Corporation
• Tokyo Electron Limited
• Applied Materials Inc.
• SPTS Technologies Limited
• Plasma-Therm LLC
• Disco Corporation
• Tokyo Seimitsu Co. Ltd.
• KLA-Tencor Corporation
• Hitachi Kokusai Electronic Inc.
• Taiwan Semiconductor Manufacturing Company Limited
• Nikon Corporation
• Samsung Electronics Co. Ltd.
• SCREEN Semiconductor Solutions Co. Ltd.
• EV Group
• Advantest Corporation
• ASML Holding NV
• KLA Corporation
• Canon Inc.
• Axcelis Technologies Inc.
• Teradyne Inc.
• Kokusai Electric Corp.
• ASM International NV
• ATS Automation Tooling Systems Inc.
• Tokyo Electron Limited
• Screen Holdings Co. Ltd.
• Onto Innovation Inc.
• Veeco Instruments Inc.
• Mattson Technology Inc.
• Aixtron SE
• Nordson Corporation

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