According to statistics from CINNO IC Research, the combined semiconductor equipment revenue of the world's top 10 manufacturers exceeded $130 billion in 2025, representing a year-over-year increase of approximately 16%. The list of the top 10 global semiconductor equipment manufacturers by market size in 2025 remained unchanged from 2024, with the top five rankings also holding steady. Dutch company ASML Holding NV (ASML.US) led the ranking with 2025 revenue of approximately $37.2 billion. US-based Applied Materials (AMAT.US) followed in second place with revenue of about $27 billion. American company Lam Research (LRCX), Japan's Tokyo Electron (TEL), and the US firm KLA secured the third, fourth, and fifth positions, respectively. In terms of revenue, the combined semiconductor business revenue of the top five equipment manufacturers reached nearly $112.7 billion in 2025, accounting for approximately 85% of the total revenue of the top 10. Naura Technology Group Co.,Ltd. (002371), as the sole Chinese semiconductor equipment manufacturer in the top 10, reported revenue of approximately $5.1 billion in 2025, ranking seventh.

Note: (1) The exchange rates used for this ranking are 1 Euro = 1.14 USD and 1 Japanese Yen = 0.0067 USD for 2025. (2) This revenue ranking is based on the semiconductor business revenue of listed companies and excludes revenue from other businesses such as FPD/PCB.

Top 1: ASML Holding NV (ASML) - Netherlands ASML is a global leader in lithography equipment, specializing in the research, development, and manufacturing of advanced lithography systems, providing core lithography equipment for leading-edge process chip production. Its semiconductor business revenue increased by 23% year-over-year in 2025. ASML achieved a record high for new orders in the fourth quarter of 2025, driven particularly by strong demand for extreme ultraviolet (EUV) lithography equipment. Although a significant portion of these orders are scheduled for delivery in later periods, limiting their direct impact on the following year's performance, the company still anticipates continued growth in 2026, supported by ongoing sales of EUV and existing equipment.

Top 2: Applied Materials (AMAT) - USA Applied Materials is a leading global supplier of semiconductor manufacturing equipment, with products covering most chip fabrication steps except lithography. It holds significant positions in multiple core areas, serving applications like advanced logic, high-performance memory, and advanced packaging. Its semiconductor business revenue saw a modest 1% year-over-year increase in 2025. The small revenue growth was attributed to its diversified business structure resulting in a lower proportion of exposure to high-growth AI sectors, while mature process nodes were impacted by weakness in consumer electronics. Furthermore, US export restrictions led to a decline in revenue from China. Despite strong growth in DRAM, weak demand in foundry logic and a smaller presence in NAND markets prevented explosive overall growth.

Top 3: Lam Research (LRCX) - USA Lam Research is a leading global supplier of semiconductor manufacturing equipment. Its products cover key process steps including etch, deposition, and clean, providing core equipment for advanced logic, high-performance memory, and advanced packaging. The company's semiconductor business revenue grew 27% year-over-year in 2025.

Top 4: Tokyo Electron (TEL) - Japan TEL is Japan's largest semiconductor equipment supplier, with operations spanning both semiconductor and flat-panel display (FPD) sectors. Its product portfolio includes various critical equipment used throughout the semiconductor manufacturing process, and it is also involved in advanced packaging and 3D integration. Its semiconductor business revenue increased by 2% year-over-year in 2025.

Top 5: KLA - USA KLA is a global leader in process control and metrology for the semiconductor industry, holding a high global market share. It is deeply involved in process control and yield enhancement for advanced logic and high-performance memory chip manufacturing. The company's semiconductor business revenue grew 18% year-over-year in 2025.

Top 6: Advantest - Japan Advantest is a leading company in the global semiconductor test equipment market, with a significant global market share. It focuses on semiconductor automated test equipment and related systems, providing critical test solutions for advanced logic and high-performance memory chip production. Its semiconductor business revenue surged 78% year-over-year in 2025. Driven by AI, chip testing complexity has increased. Leveraging its technological leadership, Advantest experienced strong demand for high-end SoC and HBM test equipment, leading to substantial growth in both its SoC and memory test businesses in 2025. The company is expanding production capacity and anticipates robust AI-related demand and steady market growth in 2026.

Top 7: Naura Technology Group Co.,Ltd. (NAURA) - China Naura Technology Group is a leading Chinese semiconductor equipment enterprise with comprehensive capabilities and the most complete product line in mainland China. Its business covers electronic process equipment and high-end components, providing multi-process support for key front-end processes in 8-inch and 12-inch wafer fabs. Its semiconductor business revenue grew 36% in 2025.

Top 8: ASM International (ASMI) - Netherlands ASM International is a global leader in front-end thin film deposition processes for the semiconductor industry. It specializes in providing high-precision deposition solutions for advanced logic, memory, and third-generation semiconductor power devices. Its semiconductor business revenue increased 15% year-over-year in 2025.

Top 9: SCREEN - Japan SCREEN is a global leader in wet processing for semiconductors and is a representative of Japanese precision manufacturing. The group's businesses span semiconductors, flat-panel displays, PCB, and digital printing, with its semiconductor segment focusing on various wet processes, providing high-cleanliness treatment for chip manufacturing. Its semiconductor business revenue decreased by 10% year-over-year in 2025.

Top 10: Disco - Japan Disco is a representative company in Japanese precision manufacturing, specializing in equipment and consumables related to back-end semiconductor processing. Through its integrated model of equipment, consumables, and services, it enables high-precision, ultra-thin processing for various advanced semiconductor devices. Its semiconductor business revenue grew 11% year-over-year in 2025.