Yearbook of World Electronics Data - Volume 2 2023 - Americas, Japan, Asia Pacific
In providing the forecasts for the current study, which were made in October 2023, we have considered developments in the global economy. However, significant downside risks remain which could lead to growth in 2023 and 2024 being lower than forecast. We currently expect growth to ease over the final months of 2023 and into 2024 before gaining momentum in the latter half of the year and then accelerate. Component shortages have continued to ease over the course of 2023 and are expected to normalise in 2024. The forecasts for 2023 through to 2026 are based on constant 2022 exchange rates and prices and therefore exclude the impact of inflation.
Within the Yearbook series the Americas covers Brazil and the three countries making-up North America.
In 2022, electronics production in North America amounted to US$354 billion in 2022 with the US dominating accounting for 78.5% of the total. Mexico, which acts as the low-cost production base for the region, accounted for 18.9% while Canada accounted for only 2.6%. After increasing in US dollars by 7.8% in both 2021 and 2022, growth is forecast to ease to 0.4% in 2023.
After three years of declining output between 2018 and 2020 electronics production posted its second year of consecutive growth in 2022, although at 2.2% it was below the prior year’s increase of 8.9%. Based on official figures for the first six months of the year overall electronics output, is forecast to be flat in 2023 an 8.4% rise in electronic equipment production offset by a 6.7% decline in electronics component output.
In 2022, the production of electronics equipment and components in Asia was valued at US$1,518 billion of which components accounted for 43%. Electronics equipment production, which accounted for 57% of the total, is dominated by computing and communications.
China dominates electronics production in the region with total electronics output valued at US$874 billion in 2022. South Korea and Taiwan, with their strong focus on semiconductors, both reported electronics production of over US$100 billion in 2021 at US$153 billion and US$142 billion, respectively while Singapore with output of US$99 billion and Malaysia US$79 billion also benefited from an established semiconductor industry. Vietnam, which due to its low-costs has seen explosive growth in recent years, is a major centre for the production of mobile phones with overall electronics output of US$78 billion in 2022. Electronics production in India was valued at US$34 billion in 2021 growth being supported by government incentives as the country looks to establish itself as a major global manufacturing hub.
13 major product groups
Market Data and Forecasts 2020-2026
Production Data 2020-2023
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.
19 countries covered:
First Published 1983
ISBN 1 905429 894
Publication Date: October 2023
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