Electronic Component Shortages Could Last 2 Years
Electronic Component Shortages May 21 Update
As the rest of the world begins to return to "normal", the electronics market is still reeling from the component shortages caused by the pandemic. Due mainly to factory closures, the supply issue has been heightened by consumer demand for electronics (i.e. computers, phones, electronic games) whilst stuck at home. The electric car industry has also had a big impact on demand as we’re seeing manufacturers such as Honda and BMW having to close down production at their manufacturing plants. We are constantly being warned by industry experts that this global shortage could last for a few years before we begin to see an improvement.
Chinese New Year & a factory fire in Japan both caused another increase in manufacturing delays and more recently the Suez Canal fiasco held up $57 billion of the world's global trade. Raw material shortages are also pushing up lead times, as well as prices.
Long lead times are no longer manufacturer or component specific and major increases are being seen across the board.
We're urging all customers to place forward orders, or to think about securing stock for any 2021/2022 demand, and to have alternatives in place to mitigate any extended lead times. Please don’t think that anything is safe. It could just be a resistor or capacitor that holds up production.
Feel free to contact our Sales Team for a quotation, whether it is to quote for a kit of parts, or a full electronics assembly.
We’re here to help!