Modest Growth Forecast for West European Connector Market
SCOTTSDALE, Ariz., February 3, 2006 -
Figures from a recent report published by Reed Electronics Research and distributed by In-Stat (http://www.in-stat.com) point to a subdued connector market in Western Europe in 2005. After a slight recovery in the connector market in 2004 to Euro 5 billion, after the sharp decline over the 2001-2003 period, weak market conditions will limit growth in Western Europe to under 1% in 2005. Connector suppliers continue to grapple with a changing customer base, the migration of production from Western Europe and continuing price pressures. As a result, growth to 2009 will remain modest with the market forecast to reach Euro 5.9 billion by the end of the period.
Other findings from the report include:
Germany accounted for nearly 35.1% of the West European connector market in 2004, the country benefiting from its leading position within the European automotive industry. France, which also benefits from significant automotive connector sales, was the second largest market at 14.8% followed by the UK at 12.4%.
Benefiting from the increased use of electronics in passenger cars and relatively stable car production, automotive connectors have increased their share of the overall European market and now account for 34.2% of the total, this compared to 27.6% in 2000.
In response to the overcapacity problems and the pressure on prices, several connector manufacturers have closed factories in Western Europe and are concentrating more of their own production in the lower cost areas, with all of the major companies establishing production facilities in China.
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