First Quarter 2023 Connector Industry Results

The connector industry achieved sales in 1Q’23 of $21,179 million, down -0.1% in U.S. dollars compared to 1Q22, and up +5.0% sequentially.

The following table shows industry sales by quarter for 2021, 2022 and 2023. 

Connector Industry Quarterly Sales Results/Forecast
2021, 2022 and 2023

Year-to-date sales growth by region in the first quarter of 2023 can be seen in the following chart.

Connector industry sales growth by quarter can be seen in the following chart. In the last contraction, the industry contracted for seven consecutive quarters. Prior to that, the industry achieved 11 consecutive quarters of growth. We achieved 10 consecutive quarters of growth before the contraction in 1Q’23.

We may be at the beginning of a down business cycle. Connector orders have declined in 11 of the last 12 months. Semiconductor sales have declined in the past seven months.These are not good signs for future connector demand.

If you are interested in tracking the connector industry, subscribers to the Bishop Report, a publication by Bishop & Associates, receive monthly updates on the performance of the connector industry. Learn more here.