Press release
EMI Shielding Market to rising at an Elliptical 6.40 % CAGR till 2028: Omega Shielding Products, HEICO Corporation, ETC
Transparency Market Research delivers key insights on the global EMI shielding market. In terms of revenue, the global EMI shielding market is estimated to expand at a CAGR of 6.40% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global EMI shielding market.
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EMI Shielding Market: Key Players
Prominent players operating in the global EMI shielding market are 3M Company, Laird Technologies, Inc., Huntsman International LLC., RTP Company, Marktek Inc., ETS-Lindgren, Tech-Etch, Inc., Omega Shielding Products, HEICO Corporation, SCHAFFNER HOLDING AG, Parker Hannifin Corporation, PPG Industries, and Henkel AG & Co. KGaA.
EMI Shielding Market: Dynamics
The automobile Industry has been witnessing a new wave of electric vehicles and autonomous cars across the globe. According to the IEA, sales of electric cars stood at around 2.1 million globally, accounting for 2.6% share of the total automobile sales, in 2019. They are estimated to reach around 140 million vehicles globally by 2030. The rise in adoption of EV vehicles can be ascribed to the introduction of government policies and support in terms of subsidies and grants. Furthermore, tax rebates and other non-financial benefits such as car pool lane access are encouraging the adoption of electric vehicles across the globe.
The U.S., China, and Japan are major consumers of electric vehicles. China held the major share of global electric car sales in 2019, as ICE engine new car registrations are banned in some urban areas in China. Electric vehicles are equipped with advanced features such as onboard GPS navigation systems, touchscreen systems, Bluetooth, and hands-free systems. The high level of electronics in these vehicles has led to challenges when dealing with electromagnetic interference. This has propelled the demand for EMI shielding. Therefore, rise in adoption of electric vehicles is anticipated to create significant opportunities for the EMI shielding market during the forecast period.
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EMI Shielding Market: Prominent Regions
North America has been a significant region of the global EMI shielding market since the past few years. This trend is expected to continue during the forecast period due to the increase in investment in the telecom industry in the region. Introduction of plans to deploy 5G network and rise in number of mobile subscribers are key factors boosting the demand for telecom towers in North America. For instance, the Government of Canada introduced a plan to deploy 5G in 2020. Around 24% of connections in North America are anticipated to be on the 5G network by the end of 2022. This percentage is likely to rise to 46% by 2025, equivalent to 200 million 5G connections. EMI shielding is required for electronic devices and equipment from Radio Frequency Interference (RFI) and Electromagnetic interference (EMI) in the telecommunication industry. EMI shielding helps improve signal quality, and minimizes the potential health risk.
Europe held vital share of the EMI shielding market in 2019. The EMI shielding technology is used extensively in various electromagnetic and radio interference applications required in aerospace & defense, automotive, and consumer electronics industries in Europe. Being one of the largest manufacturers of automotive components, Europe is expected to drive the demand for EMI shielding technology across the globe in the next few years.
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Automotive and supporting transportation electronics devices are adversely affected by harsh external electromagnetic interference environment. Thus, automotive component manufacturers are considering EMI shielding technology at the beginning stages of the design process. In order to compete efficiently, companies are developing new types of products for the automotive market. Various automotive companies are adopting EMI shielding technology. This is also anticipated to boost the demand for EMI shielding during the forecast period.
Asia Pacific also accounted for a major share of the global the EMI shielding market in 2019. The market in the region is anticipated to experience promising growth during the forecast period. The EMI shielding market in Asia Pacific is anticipated to be majorly driven by China, which is the largest manufacturer of consumer electronic devices in the region. Additionally, Asia Pacific comprises key emerging markets in telecommunication & IT and consumer electronics. China, Japan, and South Korea are the leading contributors to the market in the region. Thus, demand for EMI shielding is expected to be increase in the region during the forecast period.
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The automotive sector has been experiencing a transformation in order to meet the need for reduced environmental contaminants, lower electromagnetic interference, and improved fuel efficiency. The government sector in Asia Pacific has responded to these market forces by imposing different legislations on automotive equipment producers for emission control and restriction of noise and electromagnetic interference. This is likely to boost the usage of the EMI shielding technology in modern application areas in Hybrid Electric Vehicle (HEV) and Future Steel Vehicle (FSV) in order to lower electrometric interference.
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