Global Chip Equipment Sales to Hit Record High in 2024

The SEMI organization has announced that global chip equipment sales are projected to reach an all-time high of $113 billion in 2024, marking a 6.5% year-on-year increase. This estimate surpasses SEMI's mid-2023 forecast of $109 billion and exceeds the previous record of $107.4 billion set in 2022. SEMI also predicts continued growth in subsequent years, with sales rising by 7% to $121 billion in 2025 and a further 15% to $139 billion in 2026, setting new records each year.

Key Drivers of Growth

SEMI CEO Ajit Manocha highlighted that investments in semiconductor manufacturing will experience a three-year growth streak, reflecting the industry's critical role in supporting the global economy and driving technological innovation. Manocha added, "Since our mid-year forecast, the outlook for 2024 chip equipment sales has brightened significantly, with China and AI-related investments outperforming expectations."

Wafer Fab Equipment Leads the Surge

The sales of wafer fab equipment (WFE), a key segment for front-end semiconductor manufacturing, are expected to grow by 5.4% in 2024, reaching $101 billion. This revised estimate is an increase from SEMI’s earlier forecast of $98 billion and represents a significant jump from $96 billion in 2023. This growth underscores the sustained demand for advanced semiconductor manufacturing technologies.