08/21/2014 //
The connector industry’s performance for the first five months of the year has been very strong. Year-to-date May, the industry has grown revenues by +9.5% over the same period in 2013. Although the year-over-year comparison will get more difficult in the last half of the year, we feel that the industry growth will exceed our previous forecast of 6.7% for 2014 and the regional performance also has shifted in some cases.
The new Bishop forecast projects the connector industry growth to be +8.3% in 2014 to a worldwide value of $52,930 million. The growth by region can be seen in the following table.
Major changes include stronger performance in Europe and China, and weaker performance in Rest of World (ROW). The Chinese market for connectors is expected to grow +11.5% in 2014 followed by Europe, which is still nursing a weak recovery from the recession but is expected to grow +9.5% over 2013.
The table below shows the growth by market sector.
Major changes include stronger performance in industrial, automotive, and telecom/datacom equipment sectors. Automotive will have the strongest growth at +11.2% over 2013. Industrial and telecom/datacom will both produce +9.5% growth in 2014.
There are several factors driving the growth in electronics and in the connector industry:
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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.