Europe semiconductor market hits USD 126.3 billion in 2024 and eyes USD 217.1 billion by 2033

Europe Semiconductor Market Forecast by 2033

Market Size in 2024: USD 126.3 Billion
Market Forecast in 2033: USD 217.1 Billion
Market Growth Rate 2025-2033: 5.7%

The Europe semiconductor market reached a value of USD 126.3 Billion in 2024 and is projected to expand to USD 217.1 Billion by 2033, growing at a CAGR of 5.7% during 2025-2033. This growth is fueled by rising demand across automotive, consumer electronics, and industrial applications, alongside advancements in 5G, IoT, and AI technologies.

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Growth Drivers of the European Semiconductor Market

Expansion of 5G Infrastructure

Europe's rollout of 5G networks has driven demand for semiconductors, with the European Commission reporting that over 700 million euros had been committed to 5G Research and Innovation through public-private partnerships. Around late 2021, the EU counted 256,074 5G base stations and coverage of 72% of the EU population, sustaining demand for semiconductor infrastructure and user devices. 5G base stations and network equipment, as well as user devices, require advanced semiconductors.

Automotive Electrification and Autonomous Driving

The European automotive market is changing rapidly with electric vehicles (EVs) and self driving technology. In 2022 in the EU, over 13 million cars and vans were registered, and close to 2 million were electric cars and vans (a rise of 21.6%). From 2025 the EU will impose a further 15% cut to CO2 emissions from cars and vans. This has partially driven the use of EVs due to their requirement of semiconductors for battery management systems, power electronics and advanced driver-assistance systems (ADAS).

Rising Consumer Electronics Adoption

Semiconductor markets in Europe rely on the consumer electronics market. The smartphone segment will grow steadily by 1.5% annually from 2024 to 2032. Wearable computing like smartwatches, fitness trackers, and smart glasses is a fast-growing area of consumer electronics. Increasingly powerful semiconductors are needed to drive these devices for maintaining power efficiency. This, in turn, drives demand regarding more powerful processors, more memory, and better power management.

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Europe Semiconductor Market Segmentation

Analysis by Components
• Memory Devices
• Logic Devices
• Analog IC
• MPU
• Discrete Power Devices
• MCU
• Sensors
• Others

Analysis by Material Used
• Silicon Carbide
• Gallium Manganese Arsenide
• Copper Indium Gallium Selenide
• Molybdenum Disulfide
• Others

Analysis by End User
• Automotive
• Industrial
• Data Center
• Telecommunication
• Consumer Electronics
• Aerospace and Defense
• Healthcare
• Others

Analysis by Country
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Europe Semiconductor Market News
• December 2023: Intel Corporation and Siemens AG signed an MoU to enhance semiconductor manufacturing efficiency and sustainability.
• February 2024: Micron began mass production of high-bandwidth memory (HBM) semiconductors for Nvidia's latest AI chips.
• European governments continue to invest in semiconductor R&D programs to strengthen supply chain resilience.
• The EU is advancing its Chips Act initiative, aiming to boost domestic semiconductor production capacity.
• Automotive OEMs in Europe are increasingly partnering with semiconductor firms to secure long-term chip supply for EVs and autonomous vehicles.

Key highlights of the Report:
• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

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