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Yearbook of World Electronics Data - Volume 2 2024 - Americas, Japan, Asia Pacific

In providing the forecasts for the current study, which were made in September 2024, we have:

Considered developments in the global economy, notably the slowdown in the final quarter of 2023 and the subdued outlook for 2024.

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 the majority of 2024.

Component prices and shortages eased over 2023 and are expected to normalise in 2024.

Although several countries are benefiting from the rebound in the computer and smartphone markets and the surge in demand for related components, particularly for memory, we expect growth across the remainder of the electronics industry to recover in the first quarter of 2025 and then gain momentum over the period to 2027. However, as in previous years significant downside risks remain. 

The forecasts for 2023 through to 2026 are based on constant 2022 exchange rates and prices and therefore exclude the impact of inflation.

Americas

Within the Yearbook series the Americas covers Brazil and the three countries making-up North America.

In 2023, electronics production in North America amounted to US$354 billion in 2023 with the US dominating accounting for 79.6% of the total. Mexico, which acts as the low-cost production base for the region, accounted for 17.8% while Canada accounted for only 2.6%. After increasing in US dollars by 7.8% in 2022, growth declined by a modest 0.1% in 2023 and is forecast to increase by 3.6% in 2024.

Japan

Electronics production, after two years of consecutive growth, fell by 2.8% in 2023, an increase of 2.1% in electronics equipment output offset by a 6.7% decline in components production. The semiconductor and passive component sectors will continue to be the principal drivers of the Japanese electronics industry over the medium-term with the focus on products based on the latest technologies and continued investment in new capacity. The component sector will be supported by growth in the industrial segment, the emergence of new communication products driven by Internet of Things and 5G and the computer segment, in particular products supporting the development of AI.

Asia

In 2023, the production of electronics equipment and components in Asia was valued at US$1,407 billion of which electronics equipment production accounted for 58.3% of the total with output dominated by computing and communications. Asia is also the centre for electronic component output globally.

China dominates electronics production in the region with total electronics output valued at US$802 billion in 2023. South Korea and Taiwan, with their strong focus on semiconductors, both reported electronics production of over US$100 billion in 2023 at US$132 billion and US$130 billion, respectively while Singapore with output of US$88 billion and Malaysia US$76 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$82 billion in 2023. Electronics production in India was valued at US$38 billion in 2023 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 2021-2027

  • Production Data 2021-2024

  • 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:

Australia

Brazil

Canada

China

Hong Kong

India

Indonesia

Israel

Japan

Malaysia

Mexico

Philippines

Singapore

South Africa

South Korea

Taiwan

Thailand

USA

Vietnam

2024 Cover

First Published 1983

ISBN 1 905429 983

Publication Date: September 2024

Pricing

Yearbook of World Electronics Data Volume 2 2024
Report only
£1,295.00
Yearbook of World Electronics Data Volume 2 2024
Report + CD ROM
£1,595.00
Yearbook of World Electronics Data Volume 2 2024
Corporate Licence
£2,590.00

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