Photolithography Equipment Market to Reach $11.64 Bn, Globally, by 2027 at 4.7% CAGR: Allied Market Research

Increase in demand for miniaturized electronic devices, developments in the semiconductor industry, and rise in the trend toward Internet of Things (IoT) fuel the growth of the global photolithography equipment market.

Allied Market Research published a report, titled, "Photolithography Equipment Market by Process (Ultraviolet, Deep Ultraviolet, and Extreme Ultraviolet), Application (Front-end and Back-end), and Light Source (Mercury Lamp, Fluorine Laser, Excimer Laser, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global photolithography equipment industry was estimated at $8.04 billion in 2019, and is expected to hit $11.64 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027.

Drivers, restraints, and opportunities-

Increase in demand for miniaturized electronic devices, developments in the semiconductor industry, and rise in the trend of Internet of Things (IoT) fuel the growth of the global photolithography equipment market. On the other hand, limitation of photolithography for curved surfaces impedes the growth to some extent. Nevertheless, rise in investments for developing semiconductor fabrication facilities and upsurge in advanced consumer goods are expected to create lucrative opportunities in the future.

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Covid-19 scenario-

• The outbreak of Covid-19 led to a steep increase in demand for medical electronic devices across the world, which boosted the demand for photolithography equipment.
• Also, prolonged lockdown across several countries resulted in disrupted supply chain and international import-export. Moreover, shortage of raw materials and distorted production of these equipment impacted the market adversely.

The ultraviolet segment to dominate by 2027-

Based on process, the ultraviolet segment accounted for the major share in 2019, generating around half of the global photolithography equipment market, due to the introduction of a wide range of applications for masking and patterning wafers. The extreme ultraviolet segment, on the other hand, would grow at the fastest CAGR of 7.9% by 2027. EUV equipment is beneficial for manufacturers as it exposes the mask in one step and reduces the manufacturing cost of semiconductor devices. This factor propels the growth of the segment.

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The back-end segment to lead the trail-

Based on application, the back-end segment contributed to more than three-fifths of the global photolithography equipment market in 2019, and is projected to rule the roost by 2027. The same segment would also register the fastest CAGR of 5.2% during the forecast period. Emergence of maskless photolithography makes the back-end application to be the fastest-growing segment throughout the forecast period.

Asia-Pacific, followed by North America, garnered the highest share in 2019-

Based on region, Asia-Pacific contributed to more than three-fourths of the total market share in 2019, and is anticipated to lead the trail from 2020 to 2027, owing to presence of several market players in the province. The same region would also portray the fastest CAGR of 5.1% by 2027. The other provinces studied in the global photolithography equipment market report include North America, LAMEA, and Europe.

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Frontrunners in the industry-

• Canon Inc.
• SÜSS MICROTEC SE
• Holmarc Opto-Mechatronics (P) Ltd.
• Taiwan Semiconductor Manufacturing Company Limited (TSMC)
• Nikon Corporation
• KLA Corporation
• S-Cubed Company
• Osiris International GmbH
• ASML Holding N.V.
• Vecco Instruments Inc.

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