Core Insights - The global semiconductor equipment market is projected to reach $117.14 billion in 2024, representing a 10% year-over-year growth [3][4] - China is the largest market for semiconductor equipment, accounting for $49.55 billion or 42% of the total sales, with a significant growth rate of 35% [3][4] - Despite high imports, China's self-sufficiency in semiconductor equipment remains low, estimated at around 13.6% for 2024, indicating a reliance on foreign suppliers [5][7] Market Overview - The semiconductor equipment sales by region for 2024 are as follows: - Japan: $7.83 billion, down 1% - North America: $13.69 billion, up 14% - Europe: $4.85 billion, down 25% - South Korea: $20.47 billion, up 3% - Taiwan: $16.56 billion, down 16% - China: $49.55 billion, up 35% - Rest of World: $4.19 billion, up 15% [4] Import Dependency - In 2024, it is estimated that China will import approximately $428 billion worth of semiconductor equipment, which translates to over 3,100 billion RMB [7] - The low self-sufficiency rate indicates that over 86% of semiconductor equipment in China is imported, highlighting the challenges faced by domestic manufacturers [5][9] Domestic Manufacturing Challenges - The majority of domestic semiconductor manufacturing equipment only covers processes above 45nm, with very few capable of producing at 14nm and below [8] - The gap in technology and manufacturing capabilities necessitates continued reliance on imports, particularly for advanced processes [9]