Edgewater Research: Electronic Component Weekly Digest - Feb 26

Dennis Reed

| Created: February 23, 2024 | Updated: July 1, 2024

This Week's Key Insights: Manufacturing and Market Trends

Manufacturing PMI Overview

US Flash Manufacturing PMI: S&P reported a notable increase to 51.5 in February from 50.7 in January, marking the most significant improvement since September 2022. This uptick reflects renewed growth in production and orders, even as industrial companies slow down their input purchasing.
Eurozone Manufacturing Downturn: The Eurozone's manufacturing PMI declined to 46.1 in February from 46.6 in January, indicating a faster decrease in output and a significant drop in new orders, especially in Germany, where the PMI plummeted to 42.3.

Automotive Sector Highlights

China's Market Dynamics: Amid ongoing price wars, February is expected to see a more than 40% month-on-month decline in retail auto sales, alongside significant movements like HiPhi's operational pause and a 30% increase in global xEV sales in 2023.
US and European Trends: The US is adjusting EV transition rules, while new car sales in Europe and Germany show varied trends in vehicle type penetration. Toyota faces production line shutdowns due to emission testing irregularities, and Rivian anticipates unchanged EV production levels for 2024.

Industrial and Semiconductor Updates

MLCC Shipments: A projected 7% quarter-on-quarter decrease in the first quarter, according to TrendForce.
Semiconductor Sector Movements: Notable developments include ADI's revenue forecast, strategic partnerships and acquisitions like ADI and TSMC, and government actions affecting ASML and SMIC. Intel, Microsoft, and GlobalFoundries are making significant strides in manufacturing and subsidies, with SK Siltron expanding SiC wafer production in Michigan.

Additional Insights

Foldable Smartphones: TrendForce predicts an 11% growth in foldable smartphone shipments in 2024, reaching 17.7 million units.

This summary captures the essence of the latest developments in manufacturing, automotive, industrial, and semiconductor sectors, highlighting critical market trends and company strategies.

About Author

About Author

Dennis Reed is a Senior Research Analyst in Technology. Dennis started in the industry in 2005 at FTN Midwest Research on the technology & semiconductor team. In 2006, he was a founding member of Cleveland Research Company and continued to develop and extensive network of technology industry professionals in the semiconductor, distribution, memory and HDD industries throughout the world. Dennis worked at KeyBanc Capital markets in New York, on teams covering Consumer Staples and Paper & Packing companies. Dennis also brings wide level of experience working in various roles with Travelers Insurance, including Market Research and various product roles supporting business unit growth in targeted end markets. Dennis is a 2002 graduate of Ohio University with a major in Sports Management.

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