Fueled by soaring demand, the semiconductor equipment market is on track to increase 35% in 2021, hitting an-all-time-high of $125B. Last year's growth would have been much higher had it not been for the supply chain constraints, which hindered some equipment deliveries. This unmet demand has been pushed into 2022 and will be a tailwind for the equipment market this year. That, combined with strong market demand, increasing localization, and government support is expected to propel the equipment market to $150B in 2022, up 22% from the previous year.