China, Hong Kong, and the U.S. are at the front of the pack in producing electronics on a global level. Maintaining its reputation for producing inexpensive consumer goods in large quantities, China contributes heavily to the electronics sector, as this is one of the country's most prominent export categories. China was the leading electronics exporter during 2018, commanding 33.8% of all electronics exports.
Key Takeaways
- China, Hong Kong, and the U.S. are the leaders in electronics production.
- In recent years, China has been implementing more eco-friendly manufacturing techniques in an effort to reduce the production of harmful greenhouse gases.
- Top 10 electronics manufacturers in the world generated a combined profit of $74.9 trillion in 2022.
The U.S. managed to come in third, behind Hong Kong. The U.S. had a 7.33% market share in 2018, while Hong Kong came in at 9.6%.
Leading the Global Electronics Sector
China
Exports from China accounted for 12.71% of trade globally in 2021. Swift industrialization has made it possible for the country to leap to the top with carbon-intensive metal products jumping as a percentage of its total exports within just 10 years. Though these numbers are impressive, electronics are still the most prominent exports among China's output.
The massive manufacturing business has caused a dangerous increase in the release of greenhouse gases and fossil fuels in the country, an issue that may be solved by producing more eco-friendly technologies. In recent years, China has been trying to remedy the situation by implementing more energy-efficient manufacturing methods.
Hong Kong
The electronics industry in Hong Kong accounted for 72.6% of its total exports in 2021, making electronics the largest merchandise export earner in their territory. The majority were high tech products, such as computers, semiconductors, and telecommunications equipment. While they were not the largest exporter of electronics in the world, they did earn that in certain subcategories.
In 2020, Hong Kong was the world’s largest exporter of electronic integrated circuits, they were the second-largest when it came to mobile phones, computer parts/accessories and video cameras, and the third-largest when it came to video recording apparatus in value terms. In an effort to reduce costs, many of the manufacturers of Hong Kong have moved their production facilities to mainland China in recent years.
The U.S.
The manufacturing industry has historically played an important role in the U.S. economy. The productivity of the different sectors in the American economy varies from state to state, however, Oregon remains one of the major producers of electronic goods. Electronics manufacturing is one of the state’s leading economic outputs. In 2021, $11.5 billion in electronic integrated circuits were exported out of Oregon.
Electronics development has expanded with the growth of new technologies each year but has also brought about its own set of complications in regard to potential health impacts and the risk of further environmental damage contributing to climate change.
Top Manufacturers In The Global Electronics Sector
According to the Fortune Global 500 list of the planet’s 500 largest companies released in 2022, these are the top ten electronics manufacturers that generated the most profit for that year. In total, they generated $74.9 trillion in combined profits.
This list is updated and released each year, and it is a great way to keep up with the leading manufacturers in the global electronics sector.
- Samsung
- Sony
- Honeywell International
- Hitachi
- Hon Hai Precision Industry
- Midea Group
- Schneider Group
- Gree Electronic Applicances
- Xiaomi
- Panasonic Holdings
