growth – Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control

TSMC Sees Annual Sales Growth To Reach 10% In Semiconductor Industry

Christellee — Fri, 24 May 2024 00:00:17 +0000

TSMC, a major supplier to Apple and Nvidia, forecasted an annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.

Source: Reuters

Taiwanese major chip supplier, TSMC forecasted an annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.

“This is a new golden age of opportunity with AI,” said senior vice-president Cliff Hou, who was speaking at an event in Hsinchu, where the company is headquartered.

In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10% from a previous forecast of more than 10%. World Semiconductor Trade Statistics has forecast growth of 13.1% for the global semiconductor market in 2024.

TSMC has estimated second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in artificial intelligence applications (AI). Nvidia forecasted its quarterly revenue above estimates and announced a stock split, lifting shares to a record-high territory and impressing investors who have tripled the chipmaker’s market value in the past year on AI optimism.

What You Missed:

Vietnam Versus Malaysia For Semiconductor Design Hub Crown
Vietnam Sluggish Auto Sales Hit Major Motorshow
Motional Flies Solo After Aptiv’s Curtain Call
Tesla Fired Its Supercharger Division – A Shocking Yet Brilliant Move
Tesla Profits Decline By More Than 50% In Q1 2024
Tesla Reduces Full Self-Driving Software Price To US$8,000
Researchers Turn Metal Waste Into Catalyst For Hydrogen
Is AI Is Looking More Like A Band Aid Now?
Rever Automotive Builds And Tests BYD Buses In Thailand
Tesla Cuts More Than 10% Of Its Workforce

WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!

CONNECT WITH US: LinkedIn, Facebook, Twitter

Letter to the Editor
Do you have an opinion about this story? Do you have some thoughts you’d like to share with our readers? APMEN News would love to hear from you!

Email your letter to the Editorial Team at Christellee@epl.com.sg

The post TSMC Sees Annual Sales Growth To Reach 10% In Semiconductor Industry appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.

Japan’s Manufacturing Sluggish While India’s Surges

Christellee — Tue, 28 Nov 2023 06:39:17 +0000

Manufacturing activity in Japan slowed tremendously and layoffs are ongoing from wounded order books. India’s IT hardware market is expected to register a compound annual growth rate of 12.8% in the next four years on strong demand and rising domestic production.

Findings revealed the Japan’s manufacturing activity fell for the sixth straight month in November. The headline au Jibun Bank Flash Japan manufacturing purchasing managers’ index (PMI) slipped further to 48.1 this month from 48.7 in October, sliding below the 50.0 neutral mark that separates deterioration from expansion.

“Despite weaknesses in new orders, Japanese private sector companies mentioned that the level of outstanding business was unchanged, ending a four-month sequence of decline,” said Usamah Bhatti, economist at S&P Global, which compiled the survey. Japan’s purchasing managers index (PMI) registered its deepest contraction in November.

Early results of the survey showed manufacturers are catching up with their backlogs fast as pressure on capacity softens, prompting them to reduce staff levels for two months in a row. Firms were also hit by the weak Yen, high materials, fuel and labour costs, which affected manufacturing.

India on the other hand enjoyed growth — India’s IT hardware market is expected to register a compound annual growth rate of 12.8% in the next four years on strong demand and rising domestic production, according to Fitch Solutions. The firm estimated the country’s IT hardware industry to grow to US$104 billion by 2027 and still dominate the overall IT market with a 53.5% market share, it said in a 22 November note. Fitch also noted the country’s above-average risk/reward index profile as a main appeal for tech firms reconfiguring their supply chains, considering the severe blow of US chip export restrictions to China currently.

“A large addressable market of consumers and a trend of tech companies looking to re-route their supply chains due to geopolitical risks makes us believe India’s consumer electronics market will outperform its regional peers,” it said. Setting up shop in the country also allows companies to tap both the domestic and Southeast Asian markets, it added.

Fitch sees domestic manufacturing gathering momentum in the near term after about 27 electronics manufacturers made INR30 billion (US$360 million) in fresh investments recently, while the government continues to incentivise companies to boost domestic production.

Data from Statista.com revealed the value of trade between India and the ASEAN region amounted to over US$110 billion in fiscal year 2022. The largest portion of this trade came from Singapore, valued at over US$30 billion. Comparing both nations, it is of no surprise conditions in India contributed to the country’s export performance including exchange rate.

WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!

CONNECT WITH US: LinkedIn, Facebook, Twitter

Letter to the Editor
Do you have an opinion about this story? Do you have some thoughts you’d like to share with our readers? APMEN News would love to hear from you!

Email your letter to the Editorial Team at Christellee@epl.com.sg

The post Japan’s Manufacturing Sluggish While India’s Surges appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.

LG Energy Solutions And SK On Lay Off Workers As EV Battery Market Slows

Christellee — Mon, 27 Nov 2023 06:57:06 +0000

Although there is growth in the EV segment, the expansion is not as fast and smooth as initially planned. According to the Financial Times, LG Energy Solution and SK Innovation’s SK On—recently slightly reduced their workforce in the U.S.

LG Energy Solution laid off 170 workers at its plant in Michigan, while SK On laid off more than 100 workers at one of its two plants in Georgia in September. This comes on top of the delays at SK On’s joint project with Ford in Kentucky. Some of the EV battery manufacturers are following carmakers, and wound up scaling back/delaying their investments in new battery factories.

Earlier this year, nearly 1,000 gigawatt-hours of annual EV battery manufacturing capacity (new plants) were planned in North America by 2030. The investments in new plants were supported by the Inflation Reduction Act of 2022 (IRA), which introduced generous subsidies as well as requirements of local production to be eligible for EV incentives.

Both the LGES and SK On are expected to produce and sell more EV batteries than before, but in the near term, there might be adjustments. For example, Panasonic is building a new plant in the U.S. but had to cut its battery output (of a specific cell type used by Tesla in the Model S and Model X – the 1865-type) in Japan.

Overall, the foundation for a large EV battery industry in the U.S. has been laid and the majority of the investments are expected to be completed. There will be ups and downs, on a long path of electrification. Let’s remember that the all-electric vehicle market and battery production must increase by an order of magnitude to get closer to 100% electrification.

WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!

CONNECT WITH US: LinkedIn, Facebook, Twitter

Letter to the Editor
Do you have an opinion about this story? Do you have some thoughts you’d like to share with our readers? APMEN News would love to hear from you!

Email your letter to the Editorial Team at Christellee@epl.com.sg

The post LG Energy Solutions And SK On Lay Off Workers As EV Battery Market Slows appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.

Smart Robot Market To Grow At 23.7 Percent By 2023

admin — Mon, 09 Apr 2018 16:00:30 +0000

The smart robot market is forecast to reach $14.29 billion by 2023 from $4.94 billion in 2018 at a compound annual growth rate (CAGR) of 23.7 percent, between 2018 and 2023, according to market research agency ReportsnReports.

The growth is driven by the increasing adoption of autonomous robots for professional services, emerging technological advancements in the field of robotics, increasing investments towards industrial automation, and growing government aid for research and development of artificial intelligence-enabled robots.

The smart robot market for electronics applications is expected to grow at the highest CAGR during the forecast period. Smart robots in the electronics equipment industry are used in the designing and planning stages of the manufacturing process, thereby creating a huge potential for the growth of the smart robot market in the near future.

Professional service applications held the largest share of the smart robot market by service application in 2017. The market is expected to be driven by the increasing demand from defence and marine applications. The professional service applications market is also expected to grow faster during the forecast period. The rise in demand for personal services, adoption of IoT on a wide level, and huge potential in developing countries are expected to generate opportunities for these players in the smart robot market.

The Americas held the largest share of the smart robot market in 2017 for all major industrial and service applications. The market in the Asia-Pacific area is expected to grow at the highest CAGR from 2018 to 2023. APAC is likely to adopt smart robots for almost all major industrial and service applications during the forecast period. As the elderly population in APAC countries, such as China and Japan, is on the rise, the region is expected to employ smart robots, e.g., humanoids for personal assistance and caregiving applications. The presence of a large number of manufacturing companies in China and Japan, along with the strong presence of automobile and electronics and semiconductor companies, is also driving the growth of the smart robot market in this region.

The hardware component held the largest share of the smart robot market in 2017. The hardware components add major value to the overall smart robot cost; hence, the hardware segment accounted for a larger share of the overall smart robot market in 2017. Among different hardware components, control systems accounted for the largest market share in 2017.

Some of the key players in the smart robot market include SoftBank (Japan), iRobot (US), KUKA (Germany), ABB (Switzerland), Hanson Robotics (Hong Kong), ECA (France) and Electronics (South Korea).

WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!

FOLLOW US ON: LinkedIn, Facebook, Twitter

The post Smart Robot Market To Grow At 23.7 Percent By 2023 appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.