Silver demand from electrical and electronic products outside solar panels is forecast to rise by about 9 million troy ounces in 2026, even as total electronics consumption falls because manufacturers use less silver in photovoltaics.
That increase is spread across products such as communications equipment, vehicles, power systems and other electronic goods rather than concentrated in one technology. The survey identifies artificial-intelligence infrastructure, automotive demand and electricity-grid investment among the areas supporting growth, while warning that the 2026 forecast is more uncertain than usual.
Technology headlines in late September offered examples of expanding demand but added little measurable volume on their own. 28 Starship Flight 14 placed 26 Starlink V3 satellites into orbit.
The broader silver market remains in deficit despite the solar decline. The next significant check on the electronics outlook is an interim survey update expected in November; a non-solar demand figure below 2025 levels would weaken the case for continued technology-led growth.