Frbiz Forecast: China's Electronic Component Sales Will Soar in the Near Future

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BEIJING, July 22 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, forecasts a marked increase in electronic component sales in the near future.

Since the second half of 2009, as the global economy experiences a rebound, the electronic components industry has gradually begun to recover. Most representative of this is the emergence of the semiconductor industry as a strong example of recovery. Monthly product sales are soaring and it is expected that in 2010, the global semiconductor industry's output growth rate will reach 10%.

China's economy in 2009 was affected by state revitalization plans and a series of "home appliances to the countryside" government policies to support the electronic components application market. This has affected the industry with rapid growth, as product demand increases. Meanwhile, as the electronic components industry has obvious outward features, the recovery of exports has laid the foundation for good performance in the electronic components industry.

From January to November 2009, China's electronic components manufacturing industry's total sales reached 1.2 trillion yuan, year-on-year up 134 percent. Total assets grew 118.6 percent, which was an increase of 104.83 percent over the previous year. China's electronic components manufacturing industry profits amounted to 34.2 billion yuan, an increase of 18.4 billion yuan over the previous year.

China's emerging electronic components industry will continue to get great support through China's economic policy which should help to broaden electronic component industry development even further. By 2015, China's total production of electronic components should reach 5 trillion units, and sales income should reach 5 trillion yuan. The global market share for electronic components will reach 50%, while domestic market share should be 70%. It is also predicted that electronic component production for the auto market should double.

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SOURCE Frbiz.com