Volume 1 2022 - West Europe

In providing the forecasts for the current study, which were made in June, we have taken into account developments in the European and global economy following the outbreak of war in Ukraine and the impact of rising inflation. However, significant downside risks still remain which could lead to growth in 2022 and 2023 being lower than forecast. We currently expect growth, despite strong underlying demand, to be subdued over the course of the second half of 2022 and into 2023 before gaining momentum in the second half of the year and then accelerate over the remainder of the forecast period. We believe the current shortage for certain components and materials, will ease over the second half of 2022 as demand weakens, in line with lower consumer spending and business confidence.

In Euros the production of electronic equipment in Western Europe increased by an estimated 5.9% in 2021 to Euro 118.1 billion and compared to the pandemic led decline of 7.2% in the prior year.

Based on current indicators we are forecasting that growth in electronic equipment output in Western Europe will increase by 3.7% in 2022, ease to 3.3% in 2023 and then accelerate to 3.7% and 3.9% in 2024 and 2025, respectively. The current forecast expects overall equipment production in Western Europe, despite the anticipated slowdown in the second half of the year, to surpass pre-COVID levels in 2022.

In 2021, the production of electronic components in Western Europe amounted to Euro 44.6 billion, 27.4% of overall electronics production, output increasing by 15.5% during the year. Increased output to offset the shortage of components, in particular semiconductors, and higher average selling prices contributed significantly to growth during the year. Output is forecast to increase by a further 8.2% in 2022 before moderating over the period to 2025.

The latest edition of Reed Electronics Research's annual survey provides an in-depth outlook for the West European electronics industry through to 2025. Published since 1973 the Volume 1 of the

Yearbook of World Electronics Data provides:

• A single source solution allowing you to track the electronics industry in 16 countries in Western Europe

• 13 major product groups

• Market and production forecasts

• Summaries provided in Euros & US dollars

• 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.

• Market Data and Forecasts 2019-2025

• Production Data 2019-2022

16 countries covered:

Austria

Belgium

Denmark

Finland

France

Germany

Greece

Ireland

Italy

Netherlands

Portugal

Norway

Spain

Sweden

Switzerland

UK