Low single digit growth in 2024

ECSN’s 2024 forecast predicts the UK and Ireland electronic components market will be essentially flat-to-down in the first half of 2024, returning billings growth of between three to one per cent, with a mid-point growth of around one per cent.

In the second half of the year the association predicts that billings will grow modestly in the range one to eight per cent to give an outcome for the full year in the range 1.5 to 4.1 per cent and showing a mid-point of 1.4 per cent growth over the previous year.

Despite ECSN forecasting lower growth in 2024, chairman Adam Fletcher is confident that the trajectory for UK/Ireland and global electronic components markets continues to be up and to the right and that stronger underlying growth will return to global electronic components markets in 2025 and beyond.