02/17/2014 //
Worldwide industry sales in 2013 were up +2.7% for the full year over 2012. Sales totaled $48,877 million. Fourth quarter sales were $12,449 million, up +4.0% over the prior year. Note that 2013 results offset the sales decline in 2012 and got us back to the sales achieved in 2011.
Industry sales by region for 2013 can be seen in the following table.
Japan was the only region to decline in 2013. Its sales contracted -16.0% year-over-year.
The following table shows the industry’s actual sales results versus the Bishop Forecast. The forecast was accurate on total world sales but off slightly by region. North America, Europe, and China had better sales in 2013 than forecast. Japan had a poor year, worse than expected.
Key observations:
The following table displays industry sales performance by region over the past 10 years. All in all, this past decade could be categorized as “just OK.” The 10-year CAGR was 5.4%, with most of the growth happening in the 2003 to 2008 period. The past five years could be categorized as “lethargic,” achieving a poor 1.3% CAGR.
Here’s why we believe the next five years will be better:
Ronald E. Bishop founded Bishop & Associates Inc., a market research firm that specializes in the world electronic connector industry, in 1985. The firm publishes a monthly newsletter titled “The Bishop Report,” and the twice-monthly digital publication Connector Supplier.
The reports, produced by a staff of 20 researchers, focus on geographic regions, end-user equipment markets, connector products, and interconnect technologies.
The firm also provides executive placement services and conducts multi-client studies and customer surveys, and assists in merger and acquisition activity.