Top 5 Wafer Fab Equipment Makers’ Revenue Declined 1% YoY in 2023; ASML on Top

Top 5 wafer fab equipment (WFE) manufacturers’ revenue declined 1% YoY in 2023 to reach $93.5 billion due to weak memory spending, macroeconomic slowdown, inventory adjustments and low demand in the smartphone and PC end markets. Out of these five WFE vendors, ASML and Applied Materials managed to post YoY growth in 2023 while Lam Research, Tokyo Electron and KLA’s revenues declined 25%, 22% and 8% YoY respectively. Strong DUV and EUV sales drove ASML to the top position in 2023.