Not many people think about the implications of an electrical components supply shortage until it affects them or their business. An electronics component shortage can drive prices through the roof and create long wait times that can turn out to be a major setback for companies of all sizes.
Here is what you need to know about the current shortage of electric motor components.
Why Is There an Electrical Component Shortage
The electrical component shortage we are currently facing was caused by a shortage of microchips. In this day in age, we have come to rely on microchips for virtually everything we produce and use every day.
So why aren’t there enough microchips? The pandemic of COVID-19 drove the shortage through a combination of more people working from home and buying up electronics. When everyone hunkered down at home they stocked up on electronics like gaming consoles, while students bought new computers to adjust to online classes.
This created a strong demand that exceeded and effectively overwhelmed the supply which led to the shortage that businesses across the globe are struggling with.
Essentially, the shortage of microchips and electronic components was driven by a shortage of capacitors, resistors, and other parts. When COVID-19 struck, factories in the East shut down and production levels plummeted as a result.
How Long Will Component Shortage Last?
Since the current component shortage mostly involves a lack of microchips, it is difficult to say how long the current shortage will last. One could say that the shortage will end as soon as microchip production rates return to normal.
Then again, a return to normal outputs won’t remedy the situation right away as the demand for microchips has skyrocketed since the shortage began which means production levels would have to exceed the normal rate to keep up with the current demand.
Which Sectors Are Affected the Most
Almost every sector of the market was affected by the microchip shortage in some way. The shortage of electric motor components made it difficult for people to buy new computers, gaming consoles, etc. That said, the automotive industry was hit the hardest of all.
Telco Is Still the Number One Source for Motors
If you’re having a hard time finding motors, take a look at Telco’s generous selection. Shortage or no shortage, we carry a wide variety of well-built motors that you can count on. You can’t beat the selection, or the price, see for yourself!
Check out our selection today and discover why so many businesses choose Telco Motors!
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