March 25, 2025 /SemiMedia/ — Counterpoint Research reports that wafer fab equipment (WFE) manufacturers saw a 9% year-over-year revenue increase in 2024, fueled by strong demand for high-bandwidth memory (HBM) and a rebound in advanced logic and foundry sectors in the second half of the year. The top five WFE suppliers posted a combined 8% revenue growth.

Wafer fab equipment market grows 9% in 2024, driven by HBM and advanced logic recovery-SemiMedia

Tokyo Electron (TEL), Lam Research, and KLA led the market with double-digit revenue gains of 17%, 13%, and 12%, respectively. Applied Materials and ASML reported modest increases of 4% and 3%. Meanwhile, system and service revenues for the top five WFE manufacturers grew by 6% and 12%, respectively.

Looking ahead, Counterpoint Research expects a 10% increase in WFE revenue for 2025, driven by customers stockpiling tools in anticipation of potential export control measures targeting China. The market is projected to see double-digit growth in 2026.