Yearbook of World Electronics Data - Volume 1 2024 - West Europe
In providing the forecasts for the current study, which were made in June 2024, we have:
- Taken into accounts developments in the European and global economy, notably the slowdown in the final quarter of 2023 and the subdued outlook for 2024 for several countries notably Germany, France and Italy within the euro area.
- The build-up of inventory over the course of 2023, which combined with weaker demand across several-end markets, fed through to lower equipment production, with on-going inventory balancing continuing through into the first half of 2024.
- Component prices and shortages eased over the course of 2023 and are expected to normalize in 2024.
As a result, we expect growth in the European electronics industry to recover in the later part of 2024 and then gain momentum over the period to 2027. However, as in previous years significant downside risks remain which could push the recovery into the first quarter of 2025.
In Euro’s the production of electronic equipment in Western Europe increased by an estimated 2.0% in 2023 to Euro 130.9 billion, down from growth of 6.3% in the prior year, with a marked slowdown in the second half of the year.
Based on current indicators we are forecasting that growth in electronic equipment output in Western Europe will decline by 1.0% in 2024, increase by 3.7% in 2025 and by 4.1% in 2026 and 2027.
In 2023, the production of electronic components in Western Europe amounted to Euro 50.0 billion, 27.6% of overall electronics production. After two years of double-digit growth electronic component production is forecast to decline by 2.3% and 2.8% in 2024. The shortage of components in 2021 and 2022, which fuelled higher prices and the move by companies to increase output, eased over the course of 2023 and is set to normalize in 2024.
The latest edition of Reed Electronics Research's annual survey provides an in-depth outlook for the West European electronics industry through to 2027. Published since 1973 the Volume 1 of the Yearbook of World Electronics Data provides:
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A single source solution allowing you to track the electronics industry in 16 countries in Western Europe
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13 major product groups
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Market and production forecasts
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Summaries provided in Euros & US dollars
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CD-option allows you to manipulate the data quickly and easily: produce your own subsets or summaries of the data, create your own forecasts or cut and paste the data into your own in-house reports and presentations.
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Market Data and Forecasts 2021-2027
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Production Data 2021-2024
First Published in 1973
ISBN 1 905429 975
Publication Date: July 2024
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