ING Research estimates that ASML, the semiconductor lithography equipment giant, has directly contributed 1.3% to the Dutch GDP in 2025, up from approximately 0.1% in 1995, and is projected to rise further to 1.6% in 2026. ASML's revenue is expected to reach €33.7 billion in 2025, accounting for about half of the Dutch machinery manufacturing industry's turnover. Driven by the semiconductor and artificial intelligence investment boom, the machinery manufacturing industry's share of total economic growth is projected to rise to 2.7% (current price) in 2025. ING further incorporates supply chain procurement and related investments into its calculations, believing that ASML's economic impact extends far beyond the company itself: its supplier network includes Zeiss in Germany, Cymer in the US, and professional services and temporary workers in the Netherlands. ING points out that leading companies can also drive suppliers to improve productivity, expand scale, and improve management through supply chain collaborations. These spillover effects are difficult to quantify precisely, meaning that relying solely on GDP calculations may underestimate ASML's long-term value to the Dutch economy.
