机械一周解一惑：事关半导体供应链安全，零部件厂商多重受益

Investment Rating - The report maintains a positive outlook on the semiconductor equipment sector, highlighting significant opportunities for domestic manufacturers due to increasing localization and demand for advanced technology [45][63]. Core Insights - Domestic semiconductor equipment manufacturers are increasing R&D investments across product lines, achieving breakthroughs in 28nm processes in key areas, although the localization rates for certain critical components remain low [2][66]. - The semiconductor equipment market is projected to grow significantly, with global sales expected to reach $105.3 billion in 2024, driven by rising demand in AI and automotive sectors [73][71]. - The report emphasizes the importance of domestic suppliers in replacing imported components due to geopolitical tensions and supply chain security concerns [66][54]. Summary by Sections Section 1: Impact of U.S. Sanctions - U.S. sanctions are expected to accelerate the localization of the semiconductor supply chain, particularly affecting core components and maintenance services [66][51]. - The sanctions have led to a significant increase in the number of companies on the U.S. entity list, impacting the availability of advanced manufacturing equipment [66][51]. Section 2: Semiconductor Equipment Components - The report categorizes semiconductor equipment components into various types, including vacuum systems, electrical components, and mechanical parts, with a focus on the high reliance on imported parts [78][60]. - The localization rates for critical components such as RF generators and vacuum pumps are still below 10%, indicating substantial room for growth in domestic manufacturing [88][89]. Section 3: Market Opportunities - The semiconductor equipment parts market is estimated to be approximately $49.5 billion globally, with China's market size around $18.1 billion, highlighting the potential for domestic manufacturers to capture market share [63][88]. - The report identifies key domestic companies that are well-positioned to benefit from the increasing demand for localized components, including advanced ceramic suppliers and precision metal parts manufacturers [31][63]. Section 4: Investment Recommendations - The report suggests focusing on domestic semiconductor equipment parts manufacturers that are achieving technological breakthroughs and expanding their product offerings, such as Kema Technology and Xinyu Materials [63][31].