ASML sold 0% in Europe — South Korea bought 43% of its Q2 machines
ASML, the Dutch firm that is the only maker of the extreme ultraviolet (EUV) lithography machines required for the most advanced chips, booked 0 percent of its system sales in Europe in both the first and second quarters of 2026, down from 5 percent in 2024 and 1 percent in 2025. Frank Heemskerk, its executive vice president for public affairs, said the company is selling nothing in Europe because Europe is not investing and no chip factories are being built there. In the second quarter South Korea was the largest buyer at 43 percent of lithography system sales, ahead of Taiwan at 30, China at 14, the United States at 9 and Japan at 4, reflecting memory makers expanding for AI demand
The three lines
- Europe — 0% of ASML system sales in Q1 and Q2 2026, from 5% in 2024 and 1% in 2025; no leading-edge fabs are being built
- Korea — 43% of Q2 lithography sales, ahead of Taiwan 30%, China 14%, U.S. 9%, Japan 4%
- Meaning — the EU Chips Act aimed for 20% of world output by 2030; auditors project 11.7%. Europe builds the machines, Asia uses them
Key questions
- Where does ASML sell its machines
- **In Q2 2026, South Korea bought 43% of ASML lithography systems; Europe bought none.** | Region | Q2 2026 share | |---|---| | **South Korea** | **43%** | | Taiwan | 30% | | China | 14% | | United States | 9% | | Japan | 4% | | Europe | **0%** | Europe was also at 0% in the first quarter. Korea was ASML's biggest market for the first half as a whole (Seoul Economic Daily).
- Why is ASML selling nothing in Europe
- **Because no leading-edge chip factories are being built there.** | Factor | Detail | |---|---| | Cancelled megafab | Intel's Magdeburg, Germany plant (and Poland) cancelled in 2025 | | What is being built | ESMC in Dresden (TSMC, Bosch, Infineon, NXP): 28nm to 12/16nm for cars | | Tools needed | mature nodes use older DUV machines, not EUV | | Policy goal | EU Chips Act: 20% of world output by 2030; European Court of Auditors projects 11.7% | "Europe isn't investing and no chip factories are being built there," Heemskerk said.
- Why does South Korea buy so many ASML machines
- **Because the build-out of AI memory capacity is concentrated in Korea.** | Factor | Detail | |---|---| | Demand | surging need for HBM and high-capacity DRAM for AI servers | | Process | leading DRAM uses EUV on several layers | | Buyers | Samsung Electronics and SK Hynix | ASML does not name customers or unit counts, and quarterly regional shares swing widely, so 43% is not a fixed figure.
Europe's most valuable company did not sell a single machine at home. ASML, the Dutch firm that is the world's only maker of the extreme ultraviolet (EUV) lithography machines used for the most advanced chips, recorded 0 percent of its system sales in Europe in the first and second quarters of 2026. In the same second quarter, South Korea accounted for 43 percent.
1. The numbers — Europe zero, Korea 43
| Region | Q2 2026 share |
|---|---|
| South Korea | 43% |
| Taiwan | 30% |
| China | 14% |
| United States | 9% |
| Japan | 4% |
| Europe | 0% |
| Year | Europe's share |
|---|---|
| 2022 | 2% |
| 2024 | 5% |
| 2025 | 1% |
| Q1–Q2 2026 | 0% |
Lithography machines print circuits onto silicon wafers with light. They are the first and most expensive tools a chipmaker buys when building or expanding a factory, so ASML's sales map is effectively a map of global chip investment. Korea was also ASML's largest market for the first half as a whole (Seoul Economic Daily).
2. Why Europe is at zero — no fabs being built
"We're not selling anything at all in Europe. That's because Europe isn't investing and because no chip factories are being built there," said Frank Heemskerk, ASML's executive vice president for public affairs.
| Europe's plan | Reality |
|---|---|
| EU Chips Act (2023): 20% of world output by 2030 | European Court of Auditors projects 11.7% |
| Intel's Magdeburg megafab in Germany | cancelled in 2025, along with a plant in Poland |
| ESMC in Dresden (TSMC, Bosch, Infineon, NXP) | 28nm to 12/16nm for cars and industry |
What Europe is building is mostly mature-node capacity for automotive and industrial chips. Those processes need ASML's older DUV tools, not EUV — and EUV drives most of ASML's revenue. Heemskerk said China and India "roll out the reddest of red carpets" for investment, and that U.S. officials have asked ASML to double its research presence there.
Europe builds the most precise machines; Asia uses them to make the most valuable chips. Europe is leaving an entire layer of the AI race — chip production — empty, even as its AI money flows into model companies.
3. Why Korea is at 43 — the AI memory build-out
ASML does not name customers, but in Korea only Samsung Electronics and SK Hynix buy lithography tools at this scale.
| Factor | Detail |
|---|---|
| Demand | surging need for HBM and high-capacity DRAM for AI servers |
| Process | leading DRAM uses EUV on multiple circuit layers |
| Profits | the two firms earned about 245 trillion won in first-half operating profit (Asia Economy) |
| Taxes | chip profits are a main source of Korea's 50+ trillion won tax windfall this year |
Higher memory prices raise profits, profits buy tools, and tools add supply: the memory supercycle shows up directly in ASML's books. Taiwan's 30% can be read as TSMC's AI accelerator production; China's 14% as purchases of older tools still allowed under export controls.
4. What remains open
- The remarks — where and when Heemskerk spoke could not be confirmed; reports appeared September 22–25.
- Basis — shares are for lithography system sales; including services may change them.
- Korea's split — Samsung versus SK Hynix, and EUV versus DUV units, are not disclosed.
- Next quarter — ASML usually reports third-quarter results in mid-October. Quarterly shares swing with shipment timing, so whether 43% holds will be clear then. Micron's results on September 30 will show the direction of memory demand first.
Sources
- AI Matters — ASML Europe sales share 0% in first half, Korea first at 43%
- Global Economic — Europe at 0% as ASML advanced lithography sales concentrate in Korea
- Seoul Economic Daily — Europe's Most Valuable Firm ASML Sold No Machines at Home
- Hardware Busters — ASML Europe Sales Hit 0%, and the Continent That Builds the Machines Isn't Buying Them
- DCD — ASML's revenue share drops to zero percent in Europe