Top 5 Wafer Equipment Makers See 48% Revenue Growth from China

According to recent findings from market research firm Counterpoint Research, the top five global wafer fabrication equipment (WFE) manufacturers—including Applied Materials, ASML, TEL, Lam Research, and KLA—experienced a 3% revenue growth in the first three quarters of 2024, driven primarily by strong demand in the storage sector.

The report highlights that the revenue from the storage segment surged by 38% year-over-year during the same period, primarily due to the strong growth in DRAM shipments, particularly driven by the demand for High Bandwidth Memory (HBM).

In terms of regional performance, the top five WFE companies saw a notable 48% year-over-year revenue increase from China, which now accounts for 42% of total system sales. This growth is largely attributed to robust demand for equipment related to mature processes and storage technologies.

Looking ahead, Counterpoint Research projects a 4% increase in the total revenue for the leading WFE companies in 2024, compared to 2023. The application of generative AI and advancements in high-performance computing (HPC) are expected to be key drivers of market growth in the coming years. As end-market demand gradually recovers, investment in related industries is also expected to intensify. By 2025, the global semiconductor equipment market is poised for double-digit growth, fueled by accelerated investment in advanced process technologies and continued expansion of new storage capacity.