Product ID: SQMIG45N2084
Report ID:
SQMIG45N2084 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
173 |
Figures:
79
Semiconductor Production Equipment Market Drivers
Rapid growth of consumer electronics:
The surging demand for semiconductor chips from manufacturers of consumer electronics, integrated health systems, and sensor equipment is causing the development of the semiconductor industry. As an increasing number of people started using consumer electronics in their daily life, smartphones, laptops, televisions, and other electronic devices, the industry is growing even bigger. To meet the growing demand for the products semiconductors are used in, consumer electronics such as telecommunications, information technology, machine automation, power & solar panel production are expected to be an essential key driver. With continuous digital content elevation and reinforcement of connectivity, as well as mobility going forward, more market areas will be opened in the next few years.
Rapidly increasing semiconductor demand in the automobile sector:
The automotive sector still serves both as a basis for demand and as a source for potential for semiconductor vendors, as it did during the recessions and demand variations. Trends like the rise and demand for autonomous and electric vehicles, as well as the increasing number of semiconductors components per vehicle is a prominent incentive pushing industry for semiconductor manufacturers. When the automotive industry starts using more semiconductor components e.g. sensors, microcontrollers, and radar chips for their cars, the machine tool industry also expands to produce semiconductor components.
Semiconductor Production Equipment Market Restraints
High cost of machines and disruptions to supply chain:
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REQUEST FREE CUSTOMIZATIONGlobal Semiconductor Production Equipment Market size was valued at USD 67.69 billion in 2019 and is poised to grow from USD 95.70 billion in 2023 to USD 192.52 billion by 2031, growing at a CAGR of 9.13% during the forecast period (2024-2031).
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Product ID: SQMIG45N2084