U.S.: Electronic Chip Market 2024

Electronic Chip Market Size in the U.S.

In 2023, after two years of growth, there was significant decline in the U.S. electronic chip market, when its value decreased by X% to $X. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Electronic Chip Production in the U.S.

In value terms, electronic chip production dropped slightly to $X in 2023. In general, production, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Electronic chip production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Electronic Chip Exports

Exports from the U.S.

After two years of growth, overseas shipments of electronic chips decreased by X% to X units in 2023. In general, total exports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, electronic chip exports contracted markedly to $X in 2023. Overall, total exports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units), Hong Kong SAR (X units) and China (X units) were the main destinations of electronic chip exports from the United States, with a combined X% share of total exports. Taiwan (Chinese), Singapore, the Philippines, Canada, Malaysia, Thailand, France, Japan, Vietnam and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the key foreign market for electronic chips exports from the United States, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the average electronic chip export price amounted to $X per unit, stabilizing at the previous year. In general, the export price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into the U.S.

In 2023, purchases abroad of electronic chips decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, electronic chip imports declined notably to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

Taiwan (Chinese) (X units), Malaysia (X units) and China (X units) were the main suppliers of electronic chip imports to the United States, together accounting for X% of total imports. Thailand, Mexico, the Philippines, Singapore and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Taiwan (Chinese) ($X) and Thailand ($X) constituted the largest electronic chip suppliers to the United States, with a combined X% share of total imports. China, Mexico, the Philippines, Japan and Singapore lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average electronic chip import price amounted to $X per unit, waning by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform