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release time:2024-10-08Author source:SlkorBrowse:4889
In contrast, electronics production is growing strongly in most developing Asian countries. Taiwan and Korea are considered developed regions and countries, but their electronics industries are still in the emerging stage. From mid-2023 onwards, production in these countries has improved.
Taiwan, China, has been the fastest-growing region in Asia, with three-quarters of production (in NT$) rising from 3.2% in June 2023 to 49% in July 2024. This growth is driven by computers, with production in January-July 2024 doubling compared to January-July 2023. The computer boom can largely be attributed to AI servers. Market research firm MIC estimates that Taiwan, China, produces 90% of the world's AI servers. TrendForce expects the AI server market to grow by 69% in USD value in 2024.
Viet Nam's electronics production also saw a strong upturn. In May 2023, the minimum value of the 3/12 change was -10.8%. In June and July 2024, the growth rate of 3/12 exceeded 20%. Viet Nam has benefited from Samsung's $22 billion investment in Viet Nam. About half of Samsung's smartphones are made in Viet Nam.
The upturn in production in Korea is recent, with a negative 3/12 production change from February to April 2024. In May 2024, production turned positive at 3.2%, and in July 2024, it increased by 23.8%. Samsung's strike this year could have an impact on production trends. September's strong growth may have been temporary.
India's electronics production showed healthy growth, with a growth rate of 14% in July 12/2024. From October 2022 to March 2024, the 3/12 change has been negative. India has benefited from increased manufacturing operations by multinational corporations in the country. Apple has started producing its latest generation of iPhones, the 16 series, in India. Apple plans to produce 25 percent of its iPhones in India by 2025, up from about 14 percent last year, and shift production away from Chinese mainland. Lenovo announced this month that it has started producing AI servers in India for local consumption and export. The India government expects the country's electronics manufacturing to double in the next five years.
Chinese mainland remains Asia's leading electronics manufacturer, but growth has slowed as companies move manufacturing to other countries. The three-quarter-12 production change in Chinese mainland turned positive in April 2023 and peaked at 13.8% in June 2024. The growth rate in August 3/12, 2024 was 12.3%, which is lower than the data for July for other countries in the chart.
The trend of weak electronics production growth in the United States, Europe and Japan is likely to continue for at least the next few years. Asia will continue to be a growth driver. Political and economic pressures affecting Chinese mainland will cause production to continue to shift to other Asian countries. India appears poised for strong growth because of its large workforce, low labor costs, and heavy investment by multinational electronics companies.
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