ASML Overtakes Applied Materials as World’s No. 1 Chip Equipment Maker in 2023 by Revenue

This transition reflects ASML's dominance in advanced lithography equipment, particularly in the development and implementation of Extreme Ultraviolet (EUV) and High Numerical Aperture (NA) EUV machines.


In a significant shift in the semiconductor industry landscape, ASML, a Netherlands-based company, emerged as the world’s top chip equipment maker by revenue in 2023, surpassing Applied Materials, which had held the leadership position for decades. This transition reflects ASML’s dominance in advanced lithography equipment, particularly in the development and implementation of Extreme Ultraviolet (EUV) and High Numerical Aperture (NA) EUV machines.

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ASML & AMAT Financial Overview:

ASML reported a staggering €27.56 billion euros ($29.83 billion) in revenue for the 2023 financial year, while Applied Materials, based in Santa Clara, California, trailed behind with €24.50 billion euros ($26.52 billion). This shift in leadership highlights ASML’s successful strategies and technological advancements that have propelled it to the forefront of the industry.

Dominance in Advanced Lithography:

ASML’s rise to the top can be attributed to its unparalleled expertise in advanced lithography equipment. The company’s EUV technology, which utilizes shorter wavelengths of light for more precise semiconductor manufacturing.

It has become a cornerstone in the production of cutting-edge chips. High NA EUV machines further enhance ASML’s capabilities, enabling the production of smaller and more powerful semiconductor components.

Read More: How Much Do You Know about ASML?

Currency Conversion:

One noteworthy aspect of this transition is the difference in reporting currencies between the two companies. ASML reports its financial results in Euros, while Applied Materials reports in US dollars. To provide a fair comparison, currency conversions were made using full-year exchange rate data from the IRS (United States).

Read More: Chipmaking Monopoly: How ASML Became Undisputed Leader in Lithography

ASML’s Calendar Year vs. Applied Materials’ Fiscal Year:

ASML follows the calendar year for its financial reporting, with the 2023 financial year aligning with the standard January to December period. On the other hand, Applied Materials’ fiscal year ended on October 29, 2023. To make a more accurate comparison, adjustments were made to Applied Materials’ figures to align them with the calendar year. This involved incorporating the first quarter of 2024 results, which concluded on January 28.

Read More: ASML to Install 600 DUV Machines by 2025 in China


ASML’s ascendancy to the top of the chip equipment market marks a significant milestone in the semiconductor industry. The company’s focus on advanced lithography technologies, including EUV and High NA EUV machines.

It has propelled it ahead of longtime leader Applied Materials. This transition reflects the dynamic nature of the semiconductor industry, where technological innovation and strategic advancements play a pivotal role in determining market leadership.

As ASML continues to push the boundaries of semiconductor manufacturing, the industry will undoubtedly witness further shifts in the competitive landscape.

Editorial Team
Editorial Team
Articles: 1911