European EMS Market Grew to a Record Level in 2023 But May Experience Challenges in 2024
March 7, 2024 | IPCEstimated reading time: 1 minute
As revealed this week by an annual survey conducted by in4ma and sponsored by IPC Electronics Europe GmbH, the European electronics manufacturing services (EMS) industry experienced a robust 11 percent growth last year. Printed circuit board assembly (PCBA) production by EMS companies achieved record revenues of 57.3 billion Euros in 2023, underscoring electronics manufacturing’s vital role in the European economy and industrial base.
Dieter Weiss, founder and president of in4ma, and lead architect of the survey, stated that 306 legal entities contributed data to this year’s survey, which represented a 50 percent expansion in participants in just three years.
Key year-over-year industry takeaways from the survey data included:
- Eighty-one percent of EMS companies had higher revenues than the previous year.
- Employment in the EMS industry increased by approximately 14,000 to just over 254,000 total, which represented employment growth of 5.9 percent.
- EMS production of PCBAs represented only 43 percent of the total market of European PCBA production in Europe, so long-term growth potential still exists.
- The market remained very top heavy: Less than four percent of the total EMS companies in Europe represented over 70 percent of revenue.
- Excessive raw materials in inventory were calculated to be 5.2 billion Euros.
- Market consolidation will continue in 2024 as witnessed by 12 merger and acquisition (M&A) deals completed just in the first two months of the new year.
- Overall prognosis for 2024 is that the European EMS market could contract by up to one percent.
Weiss will share his findings at several live presentations over the next six months:
- IPC APEX EXPO – Anaheim, California, USA – April 8
- in4ma EMS & PCB Forum – Ulm, Germany – June 6
- IPC UK EMS Executives Meeting – London, UK – June 13
- IPC European EMS Executives Meeting – Gdansk, Poland – September 25
The full report, “Annual Survey of the European EMS Industry 2024,” authored by Dieter Weiss and Mareike Haass can be purchased directly from in4ma for 690 Euros. Contact Weiss at weiss@in4ma.de for additional information.
IPC fully champions the Pan-European EMS industry by focusing on standards, education, advocacy, solutions, industry intelligence, and networking events. You can learn more about how to participate in these initiatives by contacting Philippe Leonard, senior director, IPC Electronics Europe GmbH, at PhilippeLeonard@ipc.org.
Suggested Items
SCHMID Group Closes Business Combination, Begins Trading on NASDAQ
05/02/2024 | SCHMID GroupGebr. SCHMID GmbH, a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries, and Pegasus Digital Mobility Acquisition Corp. announced the completion of their business combination.
Sanmina's Second Quarter Fiscal 2024 Financial Results
05/02/2024 | Sanmina Corp.Sanmina Corporation, a leading integrated manufacturing solutions company, today reported financial results for the fiscal second quarter ended March 30, 2024 and outlook for its fiscal third quarter ending June 29, 2024.
TTM Technologies Reports First Quarter 2024 Results
05/02/2024 | TTM TechnologiesTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards , reported results for the first quarter 2024, which ended on April 1, 2024.
Intel Takes Next Step Toward Building Scalable Silicon-Based Quantum Processors
05/02/2024 | BUSINESS WIRENature published an Intel research paper, “Probing single electrons across 300-mm spin qubit wafers,” demonstrating state-of-the-art uniformity, fidelity and measurement statistics of spin qubits.
RTX's Pratt & Whitney Canada and Angola's TAAG Airlines sign Fleet Management Program Agreement for PW150A Engines
05/01/2024 | RTXPratt & Whitney Canada and TAAG Angola Airlines E.P., Angola's state-owned airline, have signed a six-year Fleet Management™ Program (FMP) agreement. The engine maintenance services cover the airline's PW150A engines which power their fleet of Dash 8-400 regional turboprops.