A lot has been said about reshoring, as companies look to bring manufacturing back to their home countries, particularly the U.S.
Reshoring is essentially companies returning operations to their original country from overseas.
"The reshoring craze is real, especially as you continue to hear more and more about this general theme of deglobalization," he said.
"They sell into the construction of the factory, they sell into the equipment of the factory, the automation of the factory."
The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.