China, Hong Kong, and the United States lead the pack in electronics production globally. Maintaining its reputation for producing cheap consumer goods in large quantities, China is a strong contributor to the electronics sector, as it is one of the country’s most important export categories. China was the top electronics exporter in 2018, accounting for 33.8% of all electronics exports.
Key points to remember
- China, Hong Kong and the United States are the leaders in electronics production.
- In recent years, China has implemented more environmentally friendly manufacturing techniques in an effort to reduce the production of harmful greenhouse gases.
- The world’s top 10 electronics manufacturers generated a combined profit of $74.9 trillion in 2022.
The United States managed to place third, behind Hong Kong. The United States held a market share of 7.33% in 2018, while Hong Kong reached 9.6%.
Leader in the global electronics industry
China’s exports accounted for 12.71% of world trade in 2021. Rapid industrialization has lifted the country to the top with carbon-intensive metal products jumping as a percentage of its total exports in just 10 years. Although these figures are impressive, electronics remains the most important export among Chinese production.
The huge manufacturing activity has caused a dangerous increase in greenhouse gas and fossil fuel emissions in the country, a problem that could be solved by producing more environmentally friendly technologies. In recent years, China has tried to remedy the situation by implementing more energy-efficient manufacturing methods.
Hong Kong’s electronics industry accounted for 72.6% of its total exports in 2021, making electronics the largest source of goods exports in their territory. The majority were high-tech products, such as computers, semiconductors and telecommunications equipment. Although they were not the largest exporter of electronics in the world, they won it in some subcategories.
In 2020, Hong Kong was the world’s largest exporter of electronic integrated circuits, they were the second in mobile phones, computer parts / accessories and video cameras, and the third in electronic devices. video recording worth terms. In an effort to cut costs, many Hong Kong manufacturers have moved their production facilities to mainland China in recent years.
The manufacturing industry has historically played an important role in the US economy. The productivity of different sectors of the US economy varies from state to state, however, Oregon remains one of the top producers of electronics. Electronics manufacturing is one of the main economic products of the state. In 2021, $11.5 billion worth of electronic integrated circuits were exported out of Oregon.
The development of electronics has grown every year with the growth of new technologies, but has also brought its own set of complications in terms of potential health impacts and the risk of additional environmental damage contributing to climate change.
Leading manufacturers in the global electronics industry
According to the Fortune Global 500 list of the 500 largest companies on the planet published in 2022, the top ten electronics manufacturers generated the most profits that year. In total, they generated $74.9 trillion in combined profits.
This list is updated and released every year, and it’s a great way to keep track of the top manufacturers in the global electronics industry.
- Honeywell International
- Hon Hai Precision Industry
- Midea Group
- Schneider Group
- Gree electronic devices
- Panasonic Holdings