According to SEMI's latest report, global 300mm wafer fab equipment spending is expected to expand from $149 billion in 2026 to $227 billion in 2029. Investment in the Americas is expected to increase particularly sharply, accompanied by more fab starts and further localization. Japan's capital flows are also drawing attention.
Global 300mm wafer fab equipment spending is expected to reach $149 billion in 2026, a substantial increase from $113 billion in 2025. The outlook calls for spending to expand to $227 billion in 2029, with annual growth expected to remain in the double digits during the period. SEMI President Ajit Manocha said that expanding demand is translating into actual increases in production capacity.
By region, investment in the Americas is expected to grow particularly strongly, doubling from $18.1 billion in 2026 to $40.6 billion in 2029, with the United States forecast to be the center of production expansion. Major companies including Intel, TSMC, Samsung and Micron are expected to drive growth through continued production increases.
As indicators of the ramp-up in production capacity, initial production is expected to begin at 13 plants in 2026 and 23 plants in 2027. Global fab construction spending is expected to increase from $47.5 billion in 2026 to $63.3 billion in 2027 and $68.4 billion in 2028. Investment in the United States is expected to exceed $800 billion, with concentrated investment in Phoenix suggested.
Japan's capital repatriation trends are also drawing attention. While Japan's major banks and insurers made substantial net purchases of government bonds with maturities of 2 years or more, sales of foreign bonds also increased. Maintaining Japanese government bond yields at current levels has been cited as a factor encouraging overseas funds to remain in Japan.