The chip equipment maker’s European sale share dropped to nothing from a measly 1pc.
The Dutch chip industry keystone ASML sold nothing to European customers this past quarter, in what should be a worrying sign for the region as it attempts to catch up with the US and China, a senior executive for the company said in a panel earlier this week.
Europe should spend its time developing its capital markets and removing red tape, rather than on foreign competition, ASML’s executive vice-president Frank Heemskerk told the panel. He added that very little happens here.
This comes more than a year after an EU special report found that the region would likely not reach its Chips Act goal, which targeted a 20pc share in the global semiconductor market by 2030, despite “reasonable progress” in implementing it.
The April 2025 report said that the “overly ambitious” target would be hard to reach given the European Commission’s limited mandate and resources, reliance on member state’s actions, private sector investments and other factors such as energy costs. It asked the EU to carry out an “urgent reality check”.
ASML plays an extremely important role in the intricately connected global semiconductor supply chain, owning the sole rights to develop the sophisticated lithography equipment key to producing chips.
Its machines are used by the biggest chip manufacturers globally, including the Taiwan Semiconductor Manufacturing Company and Samsung, to print minuscule transistors widely used across electronic devices.
ASML’s European sale share dropped to nothing from a measly 1pc, which, according to PwC chief economist Barbara Baarsma is a clear demand issue.
Baarsma, on the panel, pointed to how the French domestic intelligence service ditched Palantir in favour of domestic AI providers earlier this year, and said that governments should act as launching customers to bundle demand.
The chipmaking machine provider’s biggest market is South Korea, which represented 43pc of ASML’s quarterly sales, followed by Taiwan, China, Japan and the US. The company expects full-year sales to come in between €43bn and €45bn.
What’s important for ASML is that Europe catches up, Heemskerk said. The equipment maker is getting courted to expand its presence in the US, China and India, he said, adding that very little actually happens in Europe.
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