Investment bank Gf Securities Co., Ltd. has released a research report stating that semiconductor products, from design and wafer fabrication to packaging, testing, and end-use, require multiple cross-border and cross-factory transfers globally. This creates three major logistics segments: raw material transportation, equipment and finished product shipping, and intelligent intra-factory logistics. An upward cycle in capital expenditure across the semiconductor supply chain will sequentially drive demand for raw material turnover, cross-border transport of equipment and finished goods, and automated handling needs within wafer fabs, improving conditions for specialized logistics providers.
The report notes that a surge in capital expenditure, combined with wafer fab expansion, is set to steadily boost demand for semiconductor logistics. High-performance computing requirements from AI are driving the expansion of advanced manufacturing and advanced packaging. According to Futurum, the combined capital expenditure of the world's top five cloud service giants is expected to exceed $600 billion by 2026. Concurrently, domestic wafer fabs are continuing to build out capacity, with new or expanded fabs generating demand for raw material delivery, equipment installation, finished product transport, and Automated Material Handling System (AMHS) configurations. Data from Mordor Intelligence and Zhiyan Consulting suggests the global semiconductor logistics market was valued at approximately $86.55 billion in 2026, with a compound annual growth rate (CAGR) of 9.12% projected from 2026 to 2031. Using a similar logistics spending ratio, China's semiconductor logistics market is estimated to be around RMB 149.5 billion in 2025.
Raw material transport is subject to strict regulations and involves high-purity hazardous chemicals, which is expected to concentrate market share towards specialized service providers. Semiconductor raw materials include electronic specialty gases, photoresists, wet electronic chemicals, silicon wafers, and polishing materials. They require hazardous material transportation permits, precise temperature and humidity control, anti-vibration equipment, and full traceability.
Equipment and finished product transport is seeing structural upgrades in exports, and with constraints on wide-body aircraft capacity, high-value airfreight logistics holds significant growth potential. Lithography machines, wafers, and finished chips are characterized by high value, strict time sensitivity, and fragility, relying heavily on specialized transport equipment, airfreight capacity, and cross-border service networks. China's growing exports of high-tech products and integrated circuits are driving structural growth in air cargo. Meanwhile, global capacity expansion for freighter aircraft and passenger plane belly-hold space is limited, with supply growth expected to lag behind demand growth for freight.
Intelligent intra-factory logistics are being boosted by wafer fab expansion, which is driving AMHS demand, and the localization of this technology is entering an acceleration phase. According to the prospectus of Mifei Technology, the global AMHS market was valued at $4.053 billion in 2025. Japanese firms Daifuku and Murata Machinery together hold nearly 90% of the global market share, while the localization rate in the domestic Chinese market remains low. SEMI forecasts that global equipment spending for 300mm wafer fabs will grow at a CAGR of 9% from 2026 to 2028, with spending on equipment for sub-10nm processes growing at a CAGR of 37%.
Risk warnings include: potential for capital expenditure and fab expansion in the semiconductor supply chain to fall short of expectations; risks from international trade and export controls; intensifying industry competition and air freight rate volatility; the risk of AMHS localization and business expansion falling short of expectations; and operational safety risks associated with hazardous chemicals and precision logistics.
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