Impact of COVID-19 on EMC Shielding and Test Equipment Market Share, Size and Demand, Concludes FMI

 Because of rising consumer electronics demand, rising electromagnetic pollution, and ongoing field trials and pilot testing to prove the viability of 5G technology, the market for EMC shielding and test equipment is booming. According to Future Market Insights (FMI), the EMC shielding and test equipment market will be worth US$ 11 billion in 2032, up from US$ 6.7 billion in 2021. It is expected to grow at a 4.5 percent CAGR over the forecast period.

Because of the increased use of consumer communication devices, frequency wave interferences, also known as electromagnetic pollution, have increased all over the world. In highly sensitive workplaces, EMC shielding applications are used to eliminate such unwanted disruptions over devices connected to broadband networks.

The high cost of electromagnetic interferences is also one of the major reasons for the current increase in the use of various EMC shielding types. EMC testing equipment has emerged as an affordable option in the current market for determining the level of interference of electromagnetic waves present in any location in order to provide proper device management.

With the advent of the fourth industrial revolution, nearly all activities in industrial settings are being rapidly digitised through the use of computers and smart devices.

EMC shielding materials have become increasingly important for the proper operation of such devices in recent years. The global EMC shielding and test equipment market share is expected to increase due to the industrialization of developing economies.

“Growth of the consumer electronics sector in China and Japan have turned them into an attractive market for EMC shielding solutions. The global EMC shielding and test equipment market is expected to proliferate with the establishment of new product manufacturers and service providers in the Asia Pacific Region.”

However, the provision of EMC shielding types at various locations incurs a very high cost of installation and operation. This can be a major factor hampering the wider adoption of EMC shielding and test equipment in various areas with good opportunities.

Key Takeaways

  • The global EMC shielding market is poised to experience an absolute growth of US$ 3.9 Bn between the years 2022 to 2032. The present value of the global EMC shielding and test equipment market is estimated to be around US$ 7.1 Bn, with a predicted growth rate of 4.5%.
  • The EMC shielding type dominates over the EMC testing equipment segment in terms of revenue generated globally. This segment is anticipated to witness a CAGR of 4.4% during the forecast time period.
  • Among the various end use verticals of the EMC shielding and test equipment market, the consumer electronics segment is the top contributing category to the growth of the global market. The growth rate analyzed for this segment is around 3.9% for the forecasted years.
  • United States (US) is the leading country in the use of EMC shielding techniques, with a dominant market share valued at US$ 2.4 Bn in 2021. The CAGR recorded for the American EMC shielding and test equipment market is nearly 4%, as per the market analysis report.

Competitive Landscape

The major players operating in the global EMC shielding and test equipment market include Parke-Hannifin, PPG Industries, Henkel, Laird Performance Materials, RTP Company, Schaffner, Teseq, and EM Test.

Access Full Report: https://www.futuremarketinsights.com/reports/emc-shielding-and-test-equipment-market

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