Global semiconductor manufacturing equipment market was valued at US$ 70.5 billion in 2022
Moov, the largest and rapidly increasing global marketplace for utilized semiconductor equipment declared it would be widespread its presence in Taipei by opening a new office there and hiring local workers. The company will have booth N1191 (Hall 1- 4F) at Semicon? Taiwan.
Steven Zhou, CEO and co-founder of Moov Technologies, stated that “the company was "excited and humbled" by its performance in the largest semiconductor manufacturing market in the world. The company already collaborated with over 700 firms in the region to aid end users in locating equipment to satisfy their production demands and efficiently unload idle assets. Company growth in the region will keep assisting our full-service capabilities for procurement and resale, including logistics, inspection, and assurance services.” Therefore, these types of steps by the company positively influence the global semiconductor manufacturing equipment market. In addition, according to a research report published by Astute Analytica , the Global Semiconductor Manufacturing Equipment Market is expected to grow at a #cagr of 10.28% during the forecast period from 2023 to 2031.
To support growth in the region, Moov has employed 5 full-time staff members at its new Taipei office, such as sales manager Joe Tseng, who became Moov from Keyence Corporation where they previously served as National Sales Director.
While the political climate regarding an international semiconductor supply chain is shifting, Moov's global marketplace for selling and buying used semiconductor manufacturing equipment aids chipmakers to continue to gain from the international trade of these high-value, highly sought-after assets while abiding by the rules of the road.
According to Zhou, “The ability for fabrication centers to sell and buy equipment from other fabrication centers around the globe has tremendous value. Chip demand will increase on a global scale. To satisfy it, a secondary market for semiconductor manufacturing equipment is essential to offer producers more flexibility to adjust to shifting markets.”
According to information provided by Digitimes, Moov's announcement comes as semiconductor equipment producers prepare to raise their investments to assist the regional TSMC foundry ecosystem. According to data from SEMI,?Taiwan presently spends more than any other country in the world on equipment for making semiconductors, the largest trade association for the electronics manufacturing and design supply chain. , Equipment accessibility is crucial for fabrication centers seeking to swiftly increase local capacity.
Raymond Mahon, director of customer success at Moov stated, "One aspect the company prides ourselves on at Moov is company ability to get fabrication centers the tools they need quickly and seamlessly, and to offer transparency throughout the procurement process. The process of getting a replacement tool can be sped up by months due to the company. This might be equivalent to hundreds of millions of dollars in operating expenses. Furthermore, Moov's platform offers transparency in buying used equipment, while there has never before been any. The expensive nature of this equipment necessitates that people be fully aware of the location and mode of transportation of their equipment.
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According to SEMI, the international association based in California serving the supply-chain design and electronics industries, Moov also eliminates purchase risk for manufacturers buying used equipment with its no-questions-asked money-back guarantee.
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