Geopolitics & Lithography: China’s Impact on ASML

Last Modified

2026-07-29

Update Frequency

Aperiodically

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PDF

China's lithography drive poses little threat to ASML, but other mature-node process gains erode Western and Japanese rivals' revenue.

Key Highlights

Lithography: China's DUV makers advance, but no near-term threat to ASML.
ASML Mix Shift: China revenue drops on export control; orders stay secure due to high demand.
Consolidation in Mature node: Chinese equipment manufacturers are aggressively pursuing M&A activities to strengthen supply chain autonomy and gain domestic market share, putting pressure on industry leaders.

Introduction
- ASML's China Revenue and Percentage of Net System Sales
Establishing a Domestic Ecosystem for Chinese Semiconductor Manufacturers
Supply Chain Consolidation in Mature Nodes; Western and Japanese Equipment Vendors Lose Ground
- Evolution of Key Process Technologies for Chinese Equipment Companies

ASML’s China Revenue and Percentage of Net System Sales