Slovakian Electronics Manufacturing MarketsFrost & SullivanJanuary 2, 2009 58 Pages - SKU: MC2199528 |
| Countries covered: Slovakia Economic Slowdown and Imminent Euro Adoption to Affect Slovakian Electronics Manufacturing Markets The current economic crisis and the adoption of the Euro in 2009 by Slovakia are set to impact electronics manufacturing in the country. However, its strategic location, an economical labour force and robust national growth rates will support the continued expansion of the Slovakian electronics manufacturing market. “The global economic slowdown, which has spread to emerging markets in central and eastern Europe (CEE) has had a sizeable impact on FDI flowing into the country in the electronics manufacturing segment,” observes the analyst of this research. “Further, with Slovakia adopting the Euro in 2009, manufacturers and suppliers alike are keeping their fingers crossed as to what impact this transition will have on the country’s electronics manufacturing sector.” Slovakia has been significantly affected by the economic slowdown, which spread to Europe in 2008. Decreasing demand from key end-user segments has negatively impacted market revenues since 2008. This trend threatens to continue in 2009 as well. “Market growth rates are expected to fall appreciably in 2009,” cautions the analyst. “Further, the adoption of the Euro in 2009 is expected to result in an increase in operating expenses, motivating electronics assemblers to downsize labour and volumes to save on operating expenses and maintain profitability.” Strategic Location, Low Labour Costs and Limited Competition Beckon Market Participants Despite these hurdles, electronics manufacturing has a bright future in Slovakia. Rapid economic growth rates and low labour costs have made Slovakia a preferred location for many OEMs and electronic manufacturing services (EMS) companies operating in central Europe. Low competition, coupled with Slovakia’s strategic proximity to western Europe has also given the country an edge over other rival destinations in central Europe. Slovakia is increasingly becoming a manufacturing hub for liquid crystal display (LCD), with many OEMs finding the low competition favourable for investment. Further, closeness to western European markets and shorter supply chains has made Slovakia an irresistible location for industrial EMS participants. |
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