American suppliers combined will increase their market share of the world market to over 50% for the first time in years in 2022. Their advantages stem from the size and homogeneity of the US market; ‘build a better mouse trap and the world will beat a path to your door’ is easier when ‘the world’ doesn’t have to cross oceans or translate language to buy what you have. US suppliers also have the advantage of a fully ITC-engaged government prepared to help the through lower taxation, relaxation of restrictive legislation and direct US sanctions against Chinese companies such as Huawei and ZTE – all of which have helped accelerate their success.
Chinese suppliers have seen a shrinkage in their market shares as a result of those sanctions, but at least have the support of their government.
In EMEA a lack of knowledge, attention and support by the governments of the EU and other large countries such as the UK continue to erode the hold their suppliers have on the world market; many of the few global suppliers we have are being acquired by savvier foreign ones – a process which will continue in 2022.
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