CICC: The global semiconductor equipment market is expected to double by 2028 compared to 2025.

CICC research report predicts that the global capital expenditure of semiconductor manufacturing companies is expected to reach $341.7 billion in 2028, a significant increase of 103.3% from $168.1 billion in 2025, achieving a doubling. The significant increase in capital expenditures will directly transmit to the equipment side; the global front-end semiconductor equipment market size is expected to reach $241.4 billion in 2028, an increase of approximately 108% from 2025. The global back-end semiconductor equipment market size is expected to be around $38.3 billion in 2028, a substantial increase of 136.9% from $16.16 billion in 2025. In terms of downstream demand ranking, storage > wafer foundry. The Chinese market is expected to experience strong growth in 2027 after destocking in 2025/2026.