February 1, 2024

VIEWPOINT 2024: Steven Zhou, CEO and Cofounder, Moov

VIEWPOINT 2024: Steven Zhou, CEO and Cofounder, Moov
Steven Zhou, CEO and Cofounder, Moov
Moov operates in the secondary market for semiconductor equipment — as the world's largest marketplace for used tooling. In addition to predicted semiconductor industry and primary equipment market growth, a few trends bode well for the secondary equipment market in 2024.

SEMI predicts semiconductor manufacturers will increase 200mm fab capacity by 14% through 2026, driving demand for legacy equipment. After recent volatility, chipmakers will seek sustainable growth, looking to keep fab utilization rates high and moderate capacity expansion, without sacrificing opportunities.

KPMG's global outlook found chipmakers ranked "excess production capacity" the fourth top industry issue over the next three years, even as the industry predicts growth. Thus, chipmakers will increasingly seek more flexible procurement and disposition strategies like the secondary equipment market. Lastly, manufacturers will prioritize solutions to improve environmental sustainability — for example, by recirculating idle equipment — as the world endeavors to mitigate climate change.

This year promises to be strong for the secondary equipment market, and especially for Moov. After expanding in South Korea and opening a new office in Taiwan in 2023, Moov will continue to grow in Asia and increase our presence in Europe. In 2023, Moov established a new enterprise division to help semiconductor manufacturers with complex procurement, disposition, and upgrade projects.

After overwhelmingly positive industry reception, we plan to expand strategic partnerships with leading global chipmakers in 2024. To support enterprise and marketplace growth, we’ll soon announce new product developments, including software to help chipmakers better manage and maximize lifetime value of all their equipment assets.

Steven Zhou, CEO and Cofounder
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