The overall semiconductor manufacturing equipment market is expected to grow from USD 42.03 billion in 2017 to USD 62.56 billion by 2023 at a CAGR of 6.86%. Progress in research and development facilities, increasing demand for electric and hybrid vehicles, growing consumer electronics market and increasing in the number of foundries are the key factors driving the growth of semiconductor manufacturing equipment market.

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The semiconductor production equipment mainly consists of two types: front-end and back-end process equipment. Front-end equipment performs various functions such as lithography, wafer surface conditioning, and cleaning process.  Whereas, Back-end equipment includes assembly and packaging equipment, dicing equipment, bonding equipment, metrology equipment, and testing equipment. In this, the front-end equipment comprises advanced technology and integration, which require heavy investment. Though expensive, front-end equipment is profitable and adds more value to the final product. Thus, frontend equipment holds a major share in the market compared with back-end equipment.

The semiconductor manufacturing equipment market has been segmented, on the basis of dimension, into 2D, 2.5D, and 3D. The market for 3D dimension is expected to grow at the highest CAGR between 2017 and 2023. This growth is attributed to the growing demand for new and more advanced electronic products with a smaller form factor, higher functionality, and high performance with a lower cost.