Analysis of the Market Space for Domestic Substitution of Turbomolecular Pumps and the Competitive Prospects of Xinhang Micro

Based on collected industry data and market information, I provide you with an in-depth analysis of the market space for domestic substitution of turbomolecular pumps and the competitive prospects of Xinhang Micro.

According to data from Huafu Securities Research Institute and Huajing Industry Research Institute, the turbomolecular pump market shows a steady growth trend [0]:

Indicator	2023 Data	2030 Forecast	Compound Annual Growth Rate (CAGR)
Global Turbomolecular Pump Market Size	USD 1.4 billion (approx. RMB 10.04 billion)	USD 2.08 billion (approx. RMB 14.95 billion)	5.9%
Global Magnetic Levitation Molecular Pump Market Size	USD 390 million (approx. RMB 2.79 billion)	USD 610 million (approx. RMB 4.39 billion)	6.7%

More importantly,

are the fastest-growing segment:

• 2022 Global Market Size:
  RMB 4.294 billion
• Expected to exceed
  RMB 7.48 billion
  in 2028
• CAGR:
  9.78%

According to Edwards data, a wafer fab with a monthly output of 40,000 wafers requires approximately

, which fully reflects the rigid demand for high-end vacuum equipment in the semiconductor industry [0].

The domestic molecular pump market is in a period of rapid development:

• Market Size
  : Grew from RMB 1 billion to RMB 1.34 billion from 2017 to 2020, with a CAGR of 10.2%
• Growth Forecast
  : Expected to exceed
  RMB 3.1 billion
  in 2026, with a CAGR of approximately 15%
• Driving Factors
  : Accelerated domestic semiconductor process, improved supporting facilities for 5G base stations, growing demand for new energy lithium batteries and photovoltaic equipment [0]

:

1. Policy-driven
   : Independent and controllable semiconductor industry chain has become a national strategy, and vacuum equipment, as a key link, has benefited significantly
2. Market-driven
   : International supply chain risks have accelerated the process of domestic verification and introduction
3. Technological Breakthrough
   : Domestic enterprises are gradually catching up with international levels in key technologies

The CR5 market share of the global molecular pump market exceeds 50%, and the main competitors include [0]:

Rank	Enterprise	Nationality	Competitive Advantages
1	Pfeiffer	Germany	Invented turbomolecular pumps in 1958, offers a full range of magnetic levitation products
2	Edwards	UK	Widely used industrial vacuum pumps, mature technology
3	Shimadzu	Japan	Leading position in analytical instruments
4	Ebara	Japan	Deep accumulation in rotating machinery
5	Leybold	Germany	Comprehensive vacuum technology solutions

shows three echelon characteristics [0]:

Echelon	Sales Revenue	Representative Enterprises
First Echelon	> RMB 50 million	Pfeiffer, Edwards, Shimadzu, Zhongke Keyi
Second Echelon	RMB 10 million - RMB 50 million	Leybold, Agilent, Shiji Jiutai, Sihai Xiangyun
Third Echelon	< RMB 10 million	Other domestic manufacturers

Notably,

, marking an important breakthrough in domestic substitution [0].

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Based on the background information you provided, Xinhang Micro has the following core competitive advantages:

The core team comes from

, a background that endows the company with unique technical genes:

• Precision Rotor Dynamics
  : The precision requirements for turbine rotors in aero-engines far exceed those of semiconductor equipment, and the technology can be transplanted in a downscaled manner
• High Reliability Engineering
  : Aviation-grade quality control systems ensure product stability and consistency
• Extreme Environment Adaptation
  : Technological accumulation from aero-engines operating in high-temperature, high-speed, and high-reliability environments can be directly applied to molecular pump design

• Annual Production Capacity Exceeds 1,200 Units
  : Has achieved large-scale production capacity, surpassing most domestic competitors
• Customer Breakthroughs
  : Products have been adopted by silicon carbide epitaxy equipment enterprises and high-end mass spectrometer manufacturers
• Precise Application Scenarios
  : Focuses on silicon carbide epitaxy equipment - one of the most active fields for domestic substitution

Has completed tens of millions of RMB in angel round financing, providing financial support for R&D investment and capacity expansion.

Xinhang Micro’s strategic positioning is to

, and this positioning has the following strategic significance:

:

1. Market Size
   : Silicon carbide power devices are in a period of explosive growth, with domestic and overseas production capacity expanding rapidly
2. Technical Requirements
   : Silicon carbide epitaxy has strict requirements for vacuum environments, and molecular pump performance directly affects epitaxy quality
3. Competitive Landscape
   : The penetration rate of international manufacturers in this segment is relatively low, and the window period for domestic substitution is clear
4. Verification Cycle
   : Compared with advanced process chips, the verification cycle of silicon carbide epitaxy equipment is shorter, making breakthroughs easier to achieve

:

Technical Field	Aero-Engine	Turbomolecular Pump	Transferability
Turbine Blade Design	High-precision aerodynamic design	Molecular pump pumping blades	★★★★★
Rotor Dynamics	High-speed rotational balance	High-speed rotor system	★★★★★
Magnetic Levitation Technology	Aviation-grade magnetic levitation	Magnetic levitation molecular pump	★★★★☆
Precision Machining	Aviation manufacturing standards	Ultra-precision components	★★★★★
Reliability Verification	Aviation airworthiness certification	Semiconductor process verification	★★★☆☆

:

1. Forward Design Capability
   : The aviation technology team has the ability to conduct forward design from underlying principles, rather than simple reverse imitation
2. Performance Indicator Breakthroughs
   : Need to reach or approach international levels in core indicators such as pumping speed, ultimate vacuum, and vibration control
3. Supply Chain Integration
   : Establish a component supply system that meets semiconductor industry requirements
4. Application Verification
   : Complete comprehensive verification by downstream equipment manufacturers and establish market reputation

• Know-how Accumulation
  : It takes time to catch up with the process parameters and experience accumulated by international manufacturers over decades
• Downstream Verification
  : Semiconductor equipment has extremely high reliability requirements, requiring a long application verification cycle
• Patent Barriers
  : International manufacturers have laid out a large number of patents in key technologies

• Brand Recognition
  : Downstream manufacturers have trust barriers against domestic equipment
• Service System
  : Need to establish a comprehensive after-sales service and application support network
• Price Competition
  : International manufacturers may block domestic substitution through price wars

• Capital Demand
  : Semiconductor equipment R&D requires large investment and has a long cycle, requiring continuous financial support
• Talent Competition
  : High-end vacuum technology talents are scarce
• Supply Chain Security
  : Independent and controllable key components

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Based on the following assumptions, the reachable market of Xinhang Micro is calculated:

Scenario	2026 Market Space	Xinhang Micro’s Potential Market Share	Revenue Potential
Molecular Pumps for Semiconductor Equipment (Domestic)	Approx. RMB 5 billion	3-5%	RMB 150 million - RMB 250 million
Molecular Pumps for Silicon Carbide Epitaxy Equipment	Approx. RMB 1.5 billion	5-10%	RMB 75 million - RMB 150 million
Molecular Pumps for High-End Mass Spectrometers	Approx. RMB 800 million	5-8%	RMB 40 million - RMB 64 million
Total	—	—	RMB 265 million - RMB 464 million

Comparison Dimension	Xinhang Micro	Pfeiffer	Edwards	Zhongke Keyi
Technical Team	Aviation-grade background	Century-old accumulation	Deep industrial vacuum experience	Research institute origin
Product Performance	To be verified	Global leader	Global leader	Domestic leader
Production Capacity Scale	1,200 units/year	Global layout	Global layout	Domestic leader
Market Share	Start-up phase	Global No.1	Top 3 globally	Domestic No.1
Capital Support	Angel round	Listed company	Listed company	Pre-IPO
Localized Services	Obvious advantage	Average	Average	Obvious advantage

:

• Achieve mass supply in the silicon carbide epitaxy equipment field
• Establish 2-3 benchmark customer cases
• Increase capacity utilization to over 70%

:

• Enter more semiconductor equipment segments
• Achieve breakthroughs in magnetic levitation molecular pump products
• Break through annual revenue of RMB 200 million and enter the first echelon of domestic manufacturers

:

• Become a leading domestic enterprise in the molecular pump field
• Gain the ability to compete head-to-head with international manufacturers
• Participate in global market layout

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1. Market Space
   : The market space for domestic substitution of turbomolecular pumps is huge. The domestic market size is expected to exceed RMB 3.1 billion in 2026, and the semiconductor equipment segment will reach RMB 7.48 billion (in 2028)

2. Competitive Advantages
   : Xinhang Micro’s team has an aviation technology background and has differentiated competitive advantages in precision rotor design, high reliability engineering, etc.

3. Substitution Feasibility
   : Xinhang Micro is expected to take the lead in achieving breakthroughs in active domestic substitution fields such as silicon carbide epitaxy equipment, and replicating aviation technology advantages has high feasibility

4. Competitive Landscape
   : Zhongke Keyi has taken a leading position in domestic substitution, and Xinhang Micro needs to find a differentiated positioning to avoid head-to-head competition with domestic leaders

• Technical verification falls short of expectations
• Intensified market competition
• Fluctuations in downstream demand
• Capital chain risks

As a new force in the turbomolecular pump field, Xinhang Micro has strong growth potential due to its aviation technology background and clear domestic substitution positioning. It is recommended to continue paying attention to key indicators such as its product verification progress, customer breakthroughs, and capacity utilization rate.

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[0] Huafu Securities Research Institute - Molecular Pumps: Application Equipment in High Vacuum Fields, Boosting the Rise of China’s High-End Manufacturing (January 2024)
[1] Huajing Industry Research Institute - Global and Chinese Semiconductor Vacuum Pump Market Data
[2] Qianzhan Industry Research Institute - Analysis of China’s Molecular Pump Market Competitive Landscape
[3] Edwards Official Website - Demand and Application of Semiconductor Vacuum Equipment
[4] Minsheng Securities Research Institute - Research Report on Core Components for Domestic Substitution