Bank of America Raises Global Chip Market Growth Forecast to 18% Annually

Bank of America has highlighted Infineon and STMicroelectronics as top picks within the European semiconductor sector, following an upward revision of its global market size forecast to $3.2 trillion by 2030—up from a previous estimate of $2.7 trillion.

This upward revision is driven by strong demand for memory and data centers, alongside improving conditions in the automotive and industrial markets.

The bank also projects that spending on EUV equipment will grow by approximately 28% annually through 2030, benefiting companies such as ASML, ASM International, VAT Group, and Comet Holding.