Brussels – The European Court of Auditors has concluded that the EU’s target of boosting its semiconductor manufacturing from 10% to 20% of global production by 2030 will not be met.
In 2022, the European Commission launched the “Chips Act,” aimed at mobilizing €43 billion in public investments alongside an equal amount in private funding, with the intention of achieving a 20% share of the global semiconductor market by value.
This initiative was prompted by the disruption caused by the Covid-19 pandemic, which highlighted the semiconductor shortage that forced numerous automotive factories to shut down and exposed Europe’s reliance on Taiwan and South Korea for critical economic components.
According to the latest projections from the Commission, despite anticipated growth in the EU’s production capabilities, the region’s share by value in a rapidly expanding market will only see a modest rise, increasing from 9.8% in 2022 to 11.7% by 2030.
“We are falling behind,” stated Annemie Turtelboom, the member of the Court overseeing the audit, urging the Commission to reconsider its long-term strategy to better align with current market conditions.” (April 28, 2025)
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