Global Semiconductor Equipment Market Forecast to Grow 3% to $109.5 Billion in 2023, Projected 16% Jump in 2024

[SEMI: Global Semiconductor Equipment Market Expected to Grow 3% Year-on-Year to Reach US$109.5 Billion This Year]

Zeng Ruiyu, Senior Director of SEMI Industry Research, pointed out that the global semiconductor equipment market is expected to grow slightly by 3% year-on-year to US$109.5 billion this year. Driven by the advanced logic chips and packaging and testing sectors, the equipment market is projected to expand by 16% next year compared to this year, reaching a scale of US$127.5 billion. Sales of electronic equipment in the first half of this year were roughly on par with the same period last year, and the third quarter is expected to see a 4% year-on-year increase. For the full year, the growth rate is projected to be 3% to 5%, slightly lower than the original forecast of 5% to 7%. Fab utilization rates hit a low in the first quarter of this year but began to gradually recover in the second quarter. It is anticipated that utilization rates will reach 70% in the third quarter and further recover in the fourth quarter.

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