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The Rapid Thermal Processing Equipment Market size is estimated to grow at a CAGR of 6.39% between 2022 and 2027. The market size is forecast to increase by USD 259.56 million. The growth of the market depends on several factors, such as the rising adoption of IoT and connected devices, the growing demand for energy-efficient solutions, and the rise in the adoption of renewable energy sources.
This report extensively covers market segmentation by type (lamp-based and laser-based), application (industrial, research and development (R&D)), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Rapid Thermal Processing Equipment Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
This rapid adoption of IoT and connected devices is significantly transforming the industry and creating new opportunities for both manufacturers and end-users. The ability to gather data is one of the main advantages of the incorporation of IoT and connected devices in rapid thermal processing equipment.
Moreover, manufacturers are able to collect and analyze data related to equipment performance, energy consumption, and maintenance needs with the implementation of sensors and connectivity modules. In addition. several manufacturers leverage these data to optimize operations, minimize downtime, and improve overall efficiency. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
There has been a significant revolution in the global rapid thermal processing equipment market due to the advancement of technologies. For instance, the development of advanced heating technologies is one of the major technological advancements in the industry. The development of advanced heating technologies including metal heating elements and rapid thermal annealing (RTA) lamps has improved temperature control and uniform heating in rapid thermal processing equipment.
Moreover, it has enabled precise and reliable thermal processing, leading to enhanced device performance and yield. The integration of advanced process control systems is another significant advancement in rapid thermal processing equipment. Hence, such technological advancements are positively impacting the market. therefore, it is expected to drive the market during the forecast period.
The lack of availability is significantly impacting the companies in the market as it hinders their ability to meet the growing demands of customers and subsequently affects their overall profitability. Factors such as the rapid advances in thermal processing equipment technology are resulting in the shortage of skilled workers.
Moreover, there is an increasing advancement in technology in the global rapid thermal processing equipment market which has fuelled the demand for skilled technicians. However, there is no sufficient education and training system in place that is required for this rapid advancement in technology which is leading to a scarcity of qualified professionals in the market. Hence, such factors are negatively impacting the market. therefore, it is expected to hinder the market growth during the forecast period.
The lamp-based segment is estimated to witness significant growth during the forecast period. There is a growing popularity for lamp-based rapid thermal processing equipment as this segment extensively uses high-intensity lamps to achieve rapid heating and cooling cycles. The main advantage of this segment is its ability to provide precise and uniform heating. The lamps used in these systems release intense heat, allowing rapid and efficient heating of the substrate or wafer utilized in semiconductor manufacturing.
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The lamp-based segment was the largest segment and was valued at USD 536.26 million in 2017. The main benefit of this precise control over the temperature is that it allows uniformity across the material, leading to enhanced performance and better yield in manufacturing processes. The versatility in handling various types of materials, such as silicon wafers, compound semiconductors, or glass substrates, and the ability to accommodate a wide range of materials and sizes is another significant advantage of this segment. There is an increasing adoption of this segment across various industries due to its flexibility including semiconductor fabrication, optoelectronics, and photovoltaics (PVs). Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on application, the segment is classified into industrial, research and development (R&D). The industrial segment plays a significant role across several manufacturing industries including electronics, semiconductors, automotive, and aerospace, which utilize such equipment for various processes and applications. The main purpose of rapid thermal processing equipment is to offer high-temperature processing in a short period. As a result, there is an increasing adoption of this equipment across various industries which needs efficient and precise thermal treatment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 55% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. One of the key factors that are significantly contributing to the growth of the global rapid thermal processing equipment market size in APAC is the high concentration of consumer electronics, automotive, telecommunication, and other OEMs in the region. There is a significant presence of several consumer electronic device OEMs in APAC such as Acer Inc. (Acer), ASUSTeK Computer Inc. (ASUSTeK Computer), Seiko Epson Corp. (Seiko Epson), and Panasonic Corp. (Panasonic).
Moreover, the main reason that is fuelling the presence of OEMs in the region is due to the low manufacturing costs which offers market players with the advantage of manufacturing the same products at a relatively lower price than in other regions, including North America. Such factors majorly impact the overall production costs and profitability of the market players in the region. Hence, such factors are expected to drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global rapid thermal processing equipment market size witnessed a significant slowdown due to the temporary closure of several end-user industries such as manufacturing units across APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of manufacturing operations. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allwin21 Corp: The company offers rapid thermal processing equipment such as AccuThermo AW Series Atmospheric Rapid Thermal Processors and Vacuum Rapid Thermal Processors.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
AMETEK Inc., ANNEALSYS SAS, Applied Materials Inc., centrotherm international AG, CoorsTek Inc., CVD Equipment Corp., ECM Technologies, Heraeus Holding GmbH, KOKUSAI ELECTRIC CORP., Levitech B.V., Mattson Technology Inc., PLASMA THERM, Screen Holdings Co. Ltd., SemiTEq JSC, SSi Inc., UniTemp GmbH, and Veeco Instruments Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The rapid thermal processing equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Rapid Thermal Processing Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.39% |
Market growth 2023-2027 |
USD 259.56 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.15 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allwin21 Corp., AMETEK Inc., ANNEALSYS SAS, Applied Materials Inc., centrotherm international AG, CoorsTek Inc., CVD Equipment Corp., ECM Technologies, Heraeus Holding GmbH, KOKUSAI ELECTRIC CORP., Levitech B.V., Mattson Technology Inc., PLASMA THERM, Screen Holdings Co. Ltd., SemiTEq JSC, SSi Inc., UniTemp GmbH, and Veeco Instruments Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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