The market for microelectronics grew almost 10% last year - not including the revenue driver memory chips. While the world's largest single market was China with a turnover of 131 billion US dollars, the European market registered a turnover of 38 billion US dollars. Driver assistance systems and electromobility as well as Industry 4.0 and the Internet of Things are fueling demand in Europe. Experts also expect significant growth to continue , slightly lower in Europe at 3% than in China at 4.6%. In its trend analysis until 2022 , the association predicts the largest increases to be in the US and China.
China is also attracting ever more German companies. For example, auto parts supplier Schaeffler started construction work on a "factory of the future" in Xiangtan in the Chinese province of Hunan last year, while BMW and Volkswagen agreed to cooperate with local companies to benefit from the electromobility boom there.