Semiconductor Wafers Market to Underpin Growth Due to Deepening 5G technology penetration: Future Market Insights
The global semiconductor wafers market is slated to record a value CAGR of 5.6% during the assessment period from 2020-2030. The market growth is primarily due to growing demand from automotive consumer and electronics industries. While the market is anticipated to witness a moderate slump in demand due to COVID-19 crisis, the surge in demand for consumer electronics will keep the market afloat.
"Increasing penetration of automation is mounting demand for self-driven vehicles, an application area which will generate lucrative development prospects for leading semiconductor wafer market players." says an FMI analyst.
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Key Highlights
- East Asia, led by China is likely to remain lucrative, capturing 25% of the overall market share.
- Automotive semiconductor wafers sales will expand approximately twofold by 2030, due to increasing automotive manufacturing across key regions.
- 150-200 mm segment are poised to generate notable expansion prospects throughout the forecast period.
Drivers
- Growing adoption of electric vehicles is generating market prospects for semiconductor wafers.
- Wise scale adoption of 5G technology to compliment market growth over the forecast period.
- Growing popularity of self-driving cars has directed preference towards vehicular safety against electrical faults, encouraging growth of the market.
Restraints
- Rising environmental concerns due to usage of numerous toxic chemicals can hamper growth prospects.
- Heat generation and low efficiency in current 5G mobile devices on the market is likely to challenge market growth.
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COVID-19 Impact on the Market
The semiconductor wafers market is anticipated to foresee a moderate drop in demand in short run owing to the COVID-19 outbreak. Strict lockdowns regulations directed by government all over the world have compacted manufacturing of automotive, a key application field for semiconductor wafers. However, strict lockdowns are encouraging virtual interactions, upscaling demand for laptops, tablets and smartphones. This, in turn is projected to rebound market growth in addition to easing restrictions.
Competitive Landscape
Major players in the global semiconductor wafers market are Applied Materials Inc., Nikon Corporation, ASM International, Hitachi High-Technologies Corporation, SCREEN Semiconductor Solutions Co. Ltd., ASML Holding N.V., Tokyo Electron Limited, Lam Research Corporation and KLA Corporation.
Market players are relying on a combination of strategies, scoping from collaborations, product launches and technological advancements to growth of research and manufacturing capacities to gain a wider consumer base.
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About the Study
The study offers readers a comprehensive assessment of the semiconductor wafers Market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of wafer size (less than 150 mm, 150-200 mm, more than 200 mm), application (automotive, consumer electronics, industrial manufacturing, telecommunication, others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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