Dear Colleague:
Welcome to Industry Intelligence Insights, your monthly guide to the trends and data shaping the global electronics manufacturing landscape. I’m Thiago Guimarães, Director of Industry Intelligence at the Global Electronics Association, and I’m pleased to share this edition as we begin the second half of 2025.
The first half of the year closed on a volatile note, and the outlook ahead is marked by rising uncertainty. In this issue, Chief Economist Dr. Shawn DuBravac analyzes a global economy under pressure. While headwinds are building, bright spots remain in the electronics supply chain, with high-tech exports in Asia showing continued momentum.
We also bring you the latest Book-to-Bill data, June’s Global Sentiment Report, and a suite of new resources including our Electronics Trade Flow Study, E-Mobility Sustainability White Paper, and more.
Read on for actionable insights to help your organization stay prepared and competitive through what promises to be an eventful second half. |
Warm regards,
Thiago Guimarães
Director of Industry Intelligence, Global Electronics Association
From Shawn DuBravac, Global Electronics Association Chief Economist
We close out a volatile first half, and there is a lot to be worried about as we move into the second half. In the U.S., consumer spending and business investment appear poised to weaken as higher interest rates, cooling labor markets, and elevated uncertainty weigh on confidence. Households are showing signs of fatigue, and slower job growth along with tighter credit conditions are likely to curb discretionary outlays. Business investment is expected to decelerate in the second half of 2025, in part because a significant portion of capital expenditure was pulled forward into the first quarter due to the looming threat of tariffs. Front-loaded spending boosted early-year investment figures but has created a high base effect and a looming demand cliff. With elevated interest rates, weaker business confidence, and softer order books, firms are expected to pause or slow new investment plans.
READ MORE
PCB:
North American PCB Industry Sales Up 21.4 Percent in May
North American PCB industry sales surged in May 2025, with shipments rising a strong 21.4% year‑over‑year and climbing 7.1% compared to April, resulting in a healthy book‑to‑bill ratio of 1.03. Despite a modest slowdown in new bookings (up 9.5% YoY but down 12.9% from April), year‑to‑date demand remains robust, pointing to sustained growth in the sector.
EMS:
North American EMS Industry Shipments Down 9.3 Percent in May
North American EMS industry shipments fell 9.3% in May 2025 compared to the same period last year and were down 4.2% from April, with year‑to‑date shipments sliding 2.3%. Despite this drop, new bookings rose 5.0% year‑over‑year (though off 6.0% month‑to‑month), leading to a strong book‑to‑bill ratio of 1.43—indicating demand is outpacing current production.
The Current Sentiment of the Global Electronics Manufacturing Supply Chain June 2025
Electronics manufacturers are heading into the second half of 2025 squeezed by rising input costs and tight margins but demand remains solid, with orders, backlogs, and shipments all in expansion territory. The latest Global Sentiment Report shows firms are bracing for persistent material and labor cost pressures while leaning on operational discipline to navigate continued volatility.
Interconnected: Global Electronics Trade in an Age of Disruption
The newly rebranded Global Electronics Association (formerly IPC) unveiled it’s Inaugural Electronics Trade Flow Study 2025 Overview, highlighting how electronics supply chains, with nearly $4.5 trillion in trade and unparalleled cross-border integration, now exceed even automotive in global complexity.
“Navigating E-Mobility Sustainability - Evolving Compliance and ESG requirements for Electronics Suppliers”
Navigating E-Mobility Sustainability - Evolving Compliance and ESG requirements for Electronics Suppliers
This two-part paper will explore how electronics suppliers within the e-mobility transportation sectors can address the exploding sustainability requirements. Part 1 contains background about regulatory drivers that led to creating an automotive-specific database for the entire supply chain to report material content. This reporting system has evolved over time to encompass multiple Environmental, Social, and Governance (ESG) topics with a comprehensive, harmonized set of requirements.
Halfway Through, Heading Where? The Midyear Economic Check-In
Join Global Electronics Association Chief Economist Dr. Shawn DuBravac on July 8 at 12:00 pm EDT for a live webinar unpacking the economic forces shaping the rest of 2025, from inflation and interest rates to tariffs, labor markets, and global supply chains. This data-driven session will help electronics leaders cut through uncertainty and make more informed strategic decisions.
Industry Leaders Convene in Bonn to Advance European EMS & PCB Sustainability
It was a full house in Bonn, Germany, as 160 executives gathered for the EMS & PCB Forum to chart a sustainable path forward for Europe’s electronics manufacturing sector. The event featured key insights from Global Electronics Association experts Christoph Solka and Anastasia Ederer, who presented regional market intelligence and EMS-DACH trends. Dieter G. Weiss of In4ma called for stronger regulations to protect local PCB production, particularly for defense-critical applications, while Dirk Stans of Eurocircuits made a strong case for the industry's continued support. The Forum was organized by In4ma and sponsored by the Global Electronics Association.
- September 11, 2025 — TEK Day Gdansk, Poland: IPC’s Christoph Solka will present on the current status of the European EMS industry.
- September 17/18, 2025 — IPC Day (EMS) Paris, France
Global Electronics Association industry intelligence aims to provide valuable insights into the entire global electronics ecosystem. Through in-depth reports and expert analysis, industry thought leaders provide trend evaluations designed to benefit the electronics manufacturing industry. Learn more and explore our industry intelligence page today.
Contact the team:
Thiago Guimaraes, Director of Industry Intelligence, North America
Christoph Solka, Director of Industry Intelligence, Europe
Shawn DuBravac, Chief Economist
Kate Koger, Public Affairs Coordinator |
