半导体前道设备：前沿科技驱动未来制造，探索高效前道工艺解决方案 头豹词条报告系列

Industry Overview - The semiconductor front-end equipment market is experiencing continuous growth, driven by demand from smart devices, emerging technologies, and process breakthroughs [2] - The industry is highly concentrated, with international giants dominating, but Chinese companies are rapidly rising [2] - Policy support and capital investment are accelerating the localization process, leading to an expanding market size [2] - Future growth is expected to be stimulated by AI chips, autonomous driving technologies, and government investments [2] Industry Definition and Classification - Semiconductor front-end equipment refers to specialized machines and devices used in the initial stages of semiconductor manufacturing, including wafer production, surface treatment, pattern transfer, and etching [3] - The equipment is categorized based on the semiconductor process flow, including film deposition equipment, lithography machines, etching equipment, coating and developing equipment, cleaning equipment, polishing equipment (CMP), ion implantation equipment, and heat treatment equipment [4][9][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33] Industry Characteristics - High industry concentration with a few international giants dominating the market, particularly in lithography, etching, and film deposition equipment [34][35] - Accelerated localization process in China, supported by government policies and capital investment [34][36] - Downstream demand drives technological innovation and upgrades in equipment [34][36] Industry Development History - The Chinese semiconductor front-end equipment industry has evolved through four stages: germination (1950-1980), initiation (1980-2000), rapid development (2000-2010), and maturity (2010-2024) [36][37][38][39][40][41] - Key milestones include the development of China's first transistor in the 1950s, the establishment of SMIC in 2000, and the entry of Chinese equipment into advanced process lines like TSMC's 7nm production line in 2018 [36][37][38][39][40][41] Industry Chain Analysis - The upstream of the industry chain includes raw materials for silicon wafer production and precision components for equipment assembly [42] - The midstream consists of semiconductor front-end equipment manufacturers, with key players like ASML, Applied Materials, and Tokyo Electron dominating the market [42][47] - The downstream involves wafer manufacturing and consumer electronics, with companies like SMIC and Hua Hong Semiconductor leading the way [42][52] Market Size and Growth Drivers - The global semiconductor front-end equipment market grew from $27.5 billion in 2019 to $50.3 billion in 2023, with a CAGR of 16.28% [53] - Future growth is expected to be driven by AI chips, autonomous driving technologies, and increased government investments in the semiconductor sector [53][54][55][56] Competitive Landscape - The market is dominated by international giants like ASML and Applied Materials, but Chinese companies such as AMEC and Naura are rapidly catching up [61][62][63] - Chinese companies have achieved significant breakthroughs in etching, film deposition, and cleaning equipment, with a localization rate of 35% in 2022 [62][63] Key Companies - AMEC (688012): Specializes in plasma etching and MOCVD equipment, with a revenue of 6.26 billion yuan in 2023, a 32.15% YoY increase [66][67] - ACM Research (688082): Leads in single-wafer cleaning equipment, with a revenue of 3.89 billion yuan in 2023, a 35.33% YoY increase [69][70][71] - Naura (002371): Focuses on etching and film deposition equipment, with a revenue of 22.08 billion yuan in 2023, a 50.31% YoY increase [72][73][74][75] Policy Support - The Chinese government has implemented various policies to support the semiconductor industry, including tax incentives, R&D funding, and strategic investments [57][58][59][60] - These policies aim to reduce reliance on foreign technology and enhance the competitiveness of domestic semiconductor equipment manufacturers [57][58][59][60]