European Semiconductor Market Set to Surge to USD 97.30 Billion by 2030

The European semiconductor market, valued at USD 53.47 billion in 2023, is on track for significant expansion. Forecasts project a robust CAGR of 8.93% from 2024 to 2030, reaching nearly USD 97.30 billion by 2030. Semiconductors—primarily silicon-based materials—are the backbone of modern electronics, enabling advanced technologies in AI, 5G, IoT, automotive, and industrial sectors. From consumer electronics to autonomous vehicles, semiconductors serve as critical enablers of innovation and industrial growth across Europe.

Recent developments highlight the continent's commitment to strengthening its semiconductor ecosystem. In October 2022, STMicroelectronics announced plans for a USD 771.93 million silicon carbide wafer plant in Italy, part of a broader EU initiative to localize chip production and meet rising automotive and industrial demand. Similarly, BASF invested in a commercial-scale battery recycling facility in Schwarzheide, Germany, enhancing cathode active materials production for lithium-ion batteries, which are integral to semiconductor applications.

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Growth Drivers and Strategic Initiatives

The European Union’s Chips Act, adopted in July 2023, is a key driver shaping the market. With programs such as "Chips for Europe," the initiative aims to mobilize up to USD 45.47 billion, including USD 3.49 billion from the EU budget, to strengthen local semiconductor manufacturing and innovation. By reducing dependency on external suppliers and aiming to capture at least 20% of the global semiconductor market by 2030, the legislation positions Europe as a self-reliant semiconductor hub. This strategic approach not only mitigates supply chain risks but also fosters job creation and industrial growth.

The automotive sector plays a pivotal role in driving semiconductor demand. The rise of electric vehicles (EVs) and autonomous driving technologies has fueled the need for high-performance chips in power management, battery systems, and advanced driver-assistance systems (ADAS). As governments and private companies invest in green mobility and smart automotive solutions, semiconductors have become indispensable, accelerating market growth beyond traditional consumer electronics.

Segment Analysis and Emerging Applications

Integrated Circuits (ICs) dominate the European semiconductor market due to their versatility across computing and telecommunications. Discrete and power semiconductors are rapidly growing, driven by energy efficiency and EV applications. Optoelectronics and sensors are gaining traction in autonomous vehicles, IoT, and healthcare technologies. Application-wise, consumer electronics and automotive segments lead market demand, while industrial automation, telecommunications, healthcare, and energy sectors are expanding the market’s scope, fueled by 5G adoption and Industry 4.0 initiatives.

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Germany remains a cornerstone of the European semiconductor market, leveraging its robust automotive and industrial sectors, particularly EV and Industry 4.0 technologies. Hungary is emerging as a growing hub, with forecasted revenue of USD 2.5 billion, supported by foreign investment and local manufacturing capabilities. France focuses on optoelectronics, sensor technology, and green energy solutions, aligning with the EU Chips Act objectives. Serbia, though smaller in scale with a projected USD 88.4 million revenue, is gradually establishing niche capabilities in telecommunications and industrial applications.

Competitive Landscape

The European semiconductor market is highly competitive, with Infineon Technologies and STMicroelectronics leading the charge. Infineon, headquartered in Germany, dominates power semiconductors, especially in automotive applications, while STMicroelectronics, based in Switzerland, excels in ICs and sensor technologies across industrial and healthcare segments. Both companies are investing heavily in R&D, advanced manufacturing, and strategic partnerships to secure market leadership, ensuring Europe meets its ambitious target of capturing 20% of the global semiconductor market by 2030.

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Key Players in the European Semiconductor Market

• Infineon Technologies AG (Germany)

• STMicroelectronics N.V. (Switzerland/France)

• NXP Semiconductors (Netherlands)

• ASML Holding N.V. (Netherlands)

• Dialog Semiconductor (UK/Germany)

• Bosch Group (Germany)

• Soitec (France)

• GlobalFoundries (Germany)

• ams-OSRAM AG (Austria)

• ARM Holdings (UK)

• Melexis N.V. (Belgium)

• X-FAB Silicon Foundries (France)

• Tower Semiconductor (Germany)

• CEA-Leti (France)

• Nordic Semiconductor ASA (Norway)

The European semiconductor market is on a trajectory of sustained growth, driven by strategic investments, technological advancements, and supportive policy frameworks. With a focus on localization, innovation, and green technology, Europe is poised to strengthen its semiconductor ecosystem, ensuring resilience and competitiveness in the global technology arena.

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