Monthly capacity of 200mm, or 8-inch, fabs will increase 17% from 2020 to 2024 to reach 6.6 million, according to SEMI.
This will be an increase of 950,000 wafers per month in capacity in just five years.
A total of 22 new 200mm fabs that manufacture analog, power, MOSFET and microcontroller unit semiconductors is expected to be added by 2024, the organization said.
The increased spending in 200mm fabs from semiconductor companies attempting to resolve the currently global chip shortage, SEMI said.
200mm fab equipment spending exceeded US$3 billion last year, and will top US$40 billion this year, the organization also said.
Over 50% of 200mm fab production will comes from foundry this year, SEMI noted.
China will account for 18% of 200mm fab production, followed by Japan and Taiwan that are tied with 16%.