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SEMI: China’s chip equipment spending surges to $25 billion in H1

SemiMediaEdit
September 3, 2024

September 3, 2024 /SemiMedia/ — China’s spending on semiconductor manufacturing equipment reached $25 billion in the first half of this year, surpassing the combined expenditures of South Korea, Taiwan, and the United States, according to recent data from the Semiconductor Equipment and Materials International (SEMI). China maintained strong investment momentum in July, and the total annual spending is expected to hit a record $50 billion.

SEMI highlighted that, driven by the trend towards localized semiconductor production, annual spending in Southeast Asia, the U.S., Europe, and Japan is also expected to see significant growth by 2027. Clark Tseng, Senior Director of Market Intelligence at SEMI, noted that the aggressive investments by more than ten second-tier chip manufacturers have significantly contributed to China’s overall spending surge.

China has become the largest revenue source for top global chip equipment suppliers. Recent earnings reports from U.S. companies Applied Materials, Lam Research, and KLA show that China accounted for 44% of each company’s revenue. For Tokyo Electron and ASML, the figures are even more striking: nearly 50% of Tokyo Electron's revenue in the June quarter came from China, while ASML reported 49%.

Amid a global economic slowdown, China was the only region where semiconductor equipment spending continued to grow year-on-year in the first half of this year. However, Tseng warned that China’s overall investment in new chip plants is expected to “normalize” over the next two years.

According to the latest trade data from China’s General Administration of Customs, Chinese companies imported nearly $26 billion worth of chip manufacturing equipment from January to July, surpassing the previous record set in the same period of 2021.

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