Albany, NY -- (SBWIRE) -- 12/13/2016 -- There has been an increasing application of semiconductor photolithography equipment across the globe. Widespread use of semiconductor photolithography equipments for technological advancement of smart phones, tablets and computers has augmented the demand during the last couple of years. The semiconductor photolithography equipment market can be categorized on the basis of two segments; product category and geography. The product category segment of the semiconductor photolithography equipment includes advanced packaging, MEMS (Microelectromechanical systems) devices, and LED (Light Emitting Diode) devices. The amplified demand for high-definition, mid-sized, and small-sized LED panels, used in manufacturing of ultra-high definition (UHD) TVs, is expected to encourage market growth during the forecast period. In addition, emergence of advanced consumer products is expected to fuel the growth of the market in the coming years. The growing trends of miniaturization of semiconductor components and the increasing number of fabless semiconductor companies are also expected to fuel the demand for photolithography equipment during the forecast period.

With the growth of electronic device industry, the demand for semiconductor ICs (Integrated Circuit) for different applications, such as consumer electronic devices, communication devices, memory devices, and sensor devices, increases which in turn helps to drive the market for photolithography equipment. The increase in demand for semiconductor devices, especially ICs used in computers, storage, and memory devices, is expected to impel the growth of the semiconductor photolithography equipment market. Moreover, an oversupply of semiconductor ICs in 2015 and 2016 is expected to reduce the capital spending of semiconductor device manufacturers in 2016, which is anticipated to reduce the overall demand for lithography systems including photolithography equipments in the coming years.

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However, in spite of various advantages offered by semiconductor photolithography equipment, there are some restraining factors that inhibit the growth of the market. The major hindering factor behind the growth of this market is uncertain economic condition across different region.

Geographically, the semiconductor photolithography equipment market can be categorized into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America. As per recent trends it has been observed that various semiconductor photolithography equipment manufacturing companies are constantly engaged in research and development activities in order to develop and design their production of semiconductor photolithography equipment. The market for semiconductor photolithography equipment in Asia Pacific has witnessed rapid growth in the last few years and this trend is likely to be witnessed across various industries in the North America, Europe, and Middle East and Africa (MEA) and Latin America regions as well. In Asia Pacific, Taiwan, South Korea, and Japan are the key contributing countries for the growth of the market. The presence of a several prominent semiconductor foundries, such as Taiwan Semiconductor Manufacturing Co. (TSMC), Semiconductor Manufacturing International and United Microelectronics is propelling the demand for photolithography equipment in the region. The presence of dominant players in the mobile devices and consumer electronics market, such as Sony, Samsung, LG, Panasonic and Toshiba in the region is supporting the demand for semiconductor devices in Asia Pacific. The market in the North Americas is expected to grow moderately and maintain its market share in the global space till 2024, while market in Europe and Middle East and Africa (MEA) is growing at a comparatively lower rate due to the presence of low number of semiconductor device manufacturers in this region.

Some of the key players operating in the semiconductor photolithography equipment market are Applied Materials, SUSS Microtec, ASML, and Tokyo Electron, Nikon, Canon, NuFlare Technology, JEOL, Ultratech andVistec Semiconductor Systems among others. The top four players in the semiconductor photolithography equipment market accounts for a significant market share in different product category in 2016.