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U.S. shipments of electronic components are forecast to reach $95.5 billion in 2022, according to Electronic Components: United States, a report recently released by Freedonia Focus Reports. Increasing global output of products that utilize electronic components will drive gains, as the supply chains for many of these industries are highly globalized.
In addition, the expanding scope of products in which electronic components are used will support growth. For instance, motor vehicles are increasingly employing electronic components as vehicle electronic systems become more sophisticated and advanced drivetrain components become more widespread. Common motor vehicle features all employ electronic components, including airbags, mirror and wiper controls, and power doors and windows.
In addition, the growing production of hybrid- and all-electric vehicles, which contain advanced electronic content, aids electronic component sales. The increasing prevalence of advanced driver assistant systems – including adaptive cruise control, automatic braking, back-up cameras, forward collision warning, lane departure warning, and parking assistance – will also support demand for electronic components in the automotive industry.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction.
