NEW YORK, July 2, 2015 /PRNewswire/ -- Bishop & Associates publishes two connector forecasts each year. Each eight-chapter report provides an in-depth, and detailed forecast of the worldwide connector industry.
In addition to the detailed forecasts for each region of the world (North America, Europe, Japan, China, Asia Pacific, ROW), an industry overview is included which provides current market trends, industry book-to-bill ratios, and outlook narrative.
2014 – A Good Year for the Industry
Connector sales grew +8.1% in 2014 to $52,855 million. This is the first time that the industry has exceeded the $50 billion hurdle.
China had a stellar year with sales up +14.5%, the only region to grow in double-digits. It is now more than 20% larger than Europe, the next largest region. North America also had a very good year with sales up +7.8% to prior year. Europe and Japan's growth both fell-off over the year and ROW never really got going.
There are solid reasons for the connector industry's strong demand.
The US GDP is growing and 3Q14, at +5.0% sequential growth, was the best quarterly performance since the third quarter of 2003. In 2013, the US economy represented almost 20% of the worldwide GDP at PPP (purchasing power parity).
In most countries, interest rates remain at historical lows and inflation continues to be modest.
US unemployment is declining.
US housing has almost fully recovered from the recession (in many areas of the country).
China is generating solid demand for consumer electronics and automobiles. GDP is in the area of +7.4% for 2014.
Europe is recovering slowly and GDP growth for 2014 will be +0.8% to +0.9% with five consecutive quarters of expansion.
We are forecasting 2015 sales to grow +X.X% to $XX,XXX million.
Here are some points to consider in support of the 2015 forecast:
This projected mid-single-digit growth is in line with GDP growth projections by the IMF for the various regions of the world.
For most of the major economies of the world, consumer confidence and business confidence are positive.
The financial markets, despite some significant swings, are still doing well.
Low energy prices are putting more money in consumer's pockets which they are spending.
Interest rates are still at historical lows.
The US Federal Reserve, the European Central Bank and the People's Bank of China are all keeping a close eye on interest rates, inflation/deflation and money supplies to keep their economies in control and on an even keel.
Economic growth may be modest in 2015, but the growth of electronics (with connector content) will continue to outpace the general economies.
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