智通财经网·2026-02-24 07:49Core Viewpoint - The investment focus in the semiconductor components sector is shifting towards niche categories, emphasizing both low domestic substitution rates and the gradual release of performance in certain product lines [1][2]. Group 1: Investment Focus - Investment is directed towards low domestic substitution rate categories, with expectations for continuous breakthroughs in R&D and small-scale production for components like EFEM, robotic arms, vacuum pumps, valves, and RF power supplies [1][2]. - Attention is also given to categories where domestic production is progressing smoothly and performance is gradually being released, such as large metal components and gas delivery subsystems [1]. Group 2: Market Trends - The semiconductor equipment components market is vast, with precision components being crucial for the advancement of equipment processes, supporting a market worth hundreds of billions of dollars [1][2]. - The domestic semiconductor equipment substitution rate has rapidly increased from 4.91% in 2018 to an expected 18.02% by 2024, indicating a significant acceleration in domestic substitution [2]. Group 3: Challenges and Opportunities - The domestic production rate of critical components remains low, with a pressing need for improvement as external sanctions extend from complete equipment to upstream components [2][3]. - High-end products still rely heavily on foreign suppliers, particularly in electrical and optical components, where domestic capabilities are limited [3][4]. Group 4: Development Trends - Specific trends in component development include: - Mechanical components focusing on the release of metal and ceramic component production [4]. - Electromechanical components with anticipated breakthroughs in lithography-related subsystems [4]. - Gas, vacuum, and liquid system components seeing early-stage domestic substitution, particularly in high-integration gas delivery modules [4]. - Electrical components with a focus on breakthroughs from domestic RF power suppliers [4]. - Optical components where European and American firms currently lead, with a recommendation to monitor domestic suppliers' advancements [4]. - Instrumentation with extremely low domestic production rates, particularly in MFC categories, where progress in replacing imports from the US and Japan is crucial [4].