NEWARK, Del, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The global EMC shielding and test equipment market size is anticipated to cross a valuation of US$ 7,336.9 million in 2023. It is predicted to attain a valuation of US$ 11,440.5 million by 2033. The market is projected to showcase a CAGR of 4.5% from 2023 to 2033.
The rising demand and consumption of smart electronic devices have heightened the demand for EMC shielding and test equipment. There is a rising need to assure electromagnetic compatibility as electronic devices proliferate across a variety of industries. Including consumer electronics, healthcare, automotive, and telecommunications. To avoid electromagnetic interference (EMI) and preserve the appropriate operation of these devices, EMC shielding, and test equipment are crucial.
The complexity, integration, and tight packing of contemporary electronic devices have increased risks of electromagnetic interference. During the design, development, and manufacturing phases of electronic systems, EMC shielding, and test tools play a critical role in identifying and reducing possible EMI problems.
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With increased electrification, connectivity, and automation in automobiles and airplanes, the automotive and aerospace industries have experienced substantial development. To ensure the dependable functioning of electronic systems in difficult conditions, these industries need strict EMC compliance, which raises the need for EMC shielding and test equipment, and foster market growth.
Power generation, transmission, and distribution in the energy and power sector rely on complex electronic machinery and control systems. To safeguard against electromagnetic interference and maintain the stability and dependability of power systems EMC shielding is required, Moreover, to ensure the appropriate operation of electronic components in power infrastructure, EMC shielding, and testing are crucial. The expanding power demand across the globe, coupled with rising industrialization is expected to bolster market growth in the coming years.
Industrial settings are becoming more and more dependent on electronic control systems due to the advent of industrial automation and the Industrial Internet of Things (IIoT). These systems must function dependably and coexist without interfering with one another. By reducing EMI dangers, EMC shielding and test equipment are essential for assuring the smooth operation of industrial automation and control systems. The increasing digitalization is anticipated to substantially aid in market progress.
Key Takeaways from the EMC Shielding and Test Equipment Market:
- The global EMC shielding and test equipment market size expanded at a CAGR of 3.9% from 2018 to 2022.
- In 2018, the global market size stood at US$ 5,827.8 million.
- The market size accounted for US$ 7,355.9 million in 2022.
- In 2022, the consumer electronics segment by vertical captured 32% shares in the global market.
- In 2022, India garnered 6.1% shares in the global market.
- In 2022, China captured 5.8% shares in the global market.
- Japan occupied 5.9% shares in the global market in 2022.
- In 2022, the United States captured 24.7% shares in the global market.
"EMC Shielding and Test Equipment play a critical role in ensuring electromagnetic compatibility within electronic devices and systems," emphasizes the expert. "These specialized tools are designed to mitigate electromagnetic interference (EMI) and radiofrequency interference (RFI), safeguarding electronic components from potential disruptions," opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Key Players in the EMC Shielding and Test Equipment Market
- Parker-Hannifin
- Ppg Industries
- Henkel
- Laird Performance Materials
- Rtp Company
Recent Developments Observed by FMI:
- SGS announced in July 2021 the launch of new mobile equipment in locations around the United States. The new launch is for in-situ Electromagnetic Compatibility (EMC) and Electromagnetic Interference (EMI) testing services.
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Market Segmentation
By Type:
- EMC Shielding
- EMC Type
By Vertical:
- Consumer Electronics
- Telecom & IT
- Automotive, Healthcare
- Aerospace, Others
By Application:
- Consumer Appliances and Electronics
- Automotive
- Military and Aerospace
- IT and Telecommunication
- Medical
- Railways
- Renewable Energy
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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