Consumer electronics and IT & communication products (IT&C) are amongst the product categories with significant increase in demand during 2024 and Q1/2025. The surge in demand for certain product types is assumed to be caused mostly by changing consumer preferences, technological advancements, and economic developments.
According to the global trade data, total trade value reached a record high of USD 33 trillion in 2024, a 3.7% increase from 2023. The WTO’s forecast for all commercial global trade was about 4% growth for both 2025 and 2026, which is much less than baseline estimates of about 5%. The decline comes after very strong growth in 2024.
Overall trade of consumer electronics and IT&C products is estimated to USD 2.7 trillion in value.
Electrical product types with expected high growth in trade volumes this year appear in the table below together with the exporting countries and importing markets.
Top exporting country is China, followed by South Korea and Vietnam, while the top importing countries are USA, Germany and India.
|
Product type |
Forecasted growth |
Major exporting countries |
Major importing markets |
|
Electric Vehicles |
28% |
China, Germany, USA |
EU/EEA, USA, ASEAN, India |
|
Lithium-ion Batteries |
25% |
China, S. Korea, Japan |
EU/EEA, USA, India |
|
Solar Modules & Equipment |
22% |
China, Vietnam, Malaysia |
EU/EEA, USA, Australia |
|
Semiconductor Chips |
18% |
Taiwan, S. Korea, USA |
USA, EU/EEA, Japan, India |
|
Medical Devices |
15% |
USA, Germany, China |
Latin America, India, S.E.Asia |
|
Smart Home and IoT Devices |
13% |
China, USA, S. Korea |
Canada, Australia, EU/EEA |
|
AI software & Automation |
10% |
USA, UK, India |
Global |
|
Digital Learning Platforms |
9% |
USA, UK, India |
Africa, S.E.Asia, Middle East |
Key trends and suggestions according to experts:
-The green transition, digital transformation and health focus drive the fastest-growing product segments in trade.
-China, USA, Germany, Vietnam, and India are central players in both production and consumption trends.
-Businesses aligning with sustainability, automation and localization are well positioned for global success in 2025.
-The anticipated disturbance of the started trade war is likely to cause strong increase of Chinese exports to countries outside of North America.
Manufacturers, suppliers and investors aiming to capitalize on these emerging trends should stay informed about market developments and take advantage of the opportunities that arise from the shifting global trade dynamics.
One can only wait and see how global power plays, like the return of U.S. protectionism or the race for clean tech dominance, will reshape international markets. Will Southeast Asia become the new trade factory of the world? Can African economies capitalize on some exports? Will nearshoring finally outpace offshoring?
For information about the sources for this article, please contact the editor
(This article is based on information available from the various sources on the internet and edited by T.Sollie)