Their progress in the tournament is made even more impressive by the fact that they have the sixth-youngest squad in the competition, and Low believes that many of his key players are yet to fulfil their potential.
"We have players right now who are playing at their peak, but we have young players also in the squad and others who aren't even here," Low told reporters.
"We have players with a fantastic future: [Ilkay] Gundogan, [Marco] Reus, [Mesut] Ozil, [Andre] Schurrle, [Thomas] Muller... they can go on to play for a number of years.
"We can play on top of the world for a good few years yet, with some young players coming in to reinforce the team."
Germany will surpass Spain as the number one team in the world according to FIFA's rankings when they are next updated, regardless of the result tomorrow.