Investing in the future

Anglia Components’ CEO, Steve Rawlins

Anglia Components’ CEO, Steve Rawlins, sees electrification as a strong sector and emphasises the company is well positioned to support customers following recent investments

Expect 2024 to be another challenging year for the industry. Weak consumer demand will most likely outweigh growth in industrial, while oversupply may well depress prices.

In terms of growth sectors, we’d particularly point to the decarbonisation of energy use and supply, such as heat-pump and battery storage systems and EV chargers These are growth markets now and will continue to be over the next twelve-months. Anglia also has a diverse range of industrial customers and we expect continued growth in this segment too.

Inflation continues to have a sustained impact on the economy. Therefore, we expect markets driven primarily by consumer spending to see declines under these conditions.

Component availability has turned 180 degrees since the shortages we all experienced. The supply channel is now awash with inventory, including at OEM and EMS companies. We expect this oversupply to cause prices to fall as manufacturers attempt to stimulate demand.

Our current expectation is for this situation to continue until the second half of 2024, at which point we are planning to review our sales budget when hopefully we have a clearer view of the market.

Although next year is likely to be tricky for many, the investments we have made in our business give us confidence that Anglia is well positioned to support our customer needs.