Assembly and packaging equipment (back-end tools)
BOTTLENECKThermocompression bonding capacity from three vendors constrains HBM4 output and scales too slowly.
Dices, bonds, and encapsulates die into finished packages—wire bond, flip-chip, TCB, wafer-level. AI demand concentrates on HBM and CoWoS, where thermocompression bonding capacity is scarce. TCB tool supply from ASM Pacific, Besi, and Shibaura is a binding constraint for HBM4 output.
Capital equipment for converting diced die into packaged devices; covers dicing, die attach, wire bonding, thermocompression bonding, wafer bonding, flip-chip, underfill, moulding, and singulation; the equipment layer supporting OSAT operations in L5.4.
What the evidence shows
ASMPT led back-end equipment revenue globally in 2024.
portersfiveforce.comChinese entrants captured a double-digit percentage share shift in standard bonder shipments in China by 2024.
portersfiveforce.comIDMs held 40.7% of the back-end equipment market in 2024.
mordorintelligence.comWho controls it
Where it sits in the stack
Takes in: Diced die, substrates, bonding wire, solder, moulding compound, underfill
Sends on: Assembled and packaged semiconductor device
Related nodes
Full scorecard, owner shares, supply edges and the full tracked roster are in the desk letter.
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