The global shortage of semiconductors is likely to persist for a few more years. That’s what Pat Gelsinger, the boss of chip manufacturer Intel, thinks.

“We need a few more years to meet the growing demand in the sector,” said the CEO.

Intel is remodelling some of its factories to increase production and address the chip shortage in the auto industry, he said in an interview with CBS News. “It may take several months before the supply pressure even starts to ease,” Gelsinger expects.

Demand for computer chips peaked in 2020 when consumers bought home gadgets en masse during the corona pandemic. But it wasn’t easy to keep up with that increase, partly due to the closure of factories. Companies worldwide say they expect the constraints in the supply chain due to logistical backlog and chip scarcity to persist for much of 2021.

The global crisis has put semiconductor companies in the spotlight and placed them at the top of political agendas. Last month, President Joe Biden’s US administration told companies competing for semiconductors that it has all-party support for government funding to address the shortages.

According to Gelsinger, the US dominance in the chip industry has shrunk so much that only 12 percent of the world’s semiconductor production occurs in the US. A quarter of a century ago, this was still 37 percent.