by Corinne Gangloff
February 16, 2021
Cleveland, OH, February 16, 2021 — US demand for electronic components is forecast to increase 1.6% annually in nominal terms through 2024, according to Electronic Components: United States, a report recently released by Freedonia Focus Reports. Suppliers are projected to benefit from growing production of electronic and computer products. Rising global demand for these products will help support US production: shipments of electronic components are expected to see 1.5% annual growth through 2024. Global electrical and electronic equipment manufacturing value added (MVA) in real terms is forecast to rise 3.8% annually over that span; Asian countries are forecast to outpace the global average with increases of 4.9%. In addition, the expanding scope of products in which electronic components are used will support growth. For instance, electronic component loading factors continue to increase in motor vehicles. Manufacturers are pursuing higher fuel efficiency with continuously variable transmissions and hybrid and electric drivetrains, as well as greater degrees of driver-assistance.
These and other key insights are featured in Electronic Components: United States. This report forecasts to 2024 US electronic components demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009 to 2019.
Electrical connectors – such as plugs, bus bars, twist-on wire connectors, and terminals – are excluded from the scope of this report. Re-exports of electronic components are excluded from demand and trade figures.
Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.
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