Semiconductor orders to fuel Atlas Copco’s revenue rebound in 2026

Swedish industrial group Atlas Copco AB (publ) is set for a rebound in 2026, with Visible Alpha consensus pointing to revenue growth of 7.9% year-on-year to SEK181.6 billion, following a 5% decline in 2025. The recovery is being led by a surge in orders, particularly from the semiconductor industry, as chipmakers expand capacity for advanced and mature nodes and advanced packaging.

Group orders are expected to rise 15% to SEK190.4 billion in 2026, with Vacuum Technique, Atlas Copco’s semiconductor-exposed business, accounting for much of the acceleration. Analysts expect orders for the unit to jump 44%, while revenue is projected to increase 18% to SEK43.5 billion, implying organic growth of 20.8%.

Vacuum Technique is particularly leveraged to the semiconductor cycle. The division is a major supplier of vacuum and abatement equipment used in chip manufacturing. With Vacuum Technique representing a significant and growing source of incremental revenue, sustained capital spending by chipmakers is expected to give Atlas Copco’s broader 2026 recovery more momentum.

Growth is expected to extend beyond Vacuum Technique, although at a more measured pace. Compressor Technique, the group’s largest business, is forecast to grow revenue by 4% to SEK80.4 billion in 2026. Power Technique is expected to increase 10% to SEK31.9 billion, while Industrial Technique is projected to grow 2% to SEK26.8 billion.

This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.