EMC Component Market Size, Share, Growth Analysis, By Equipment Type(EMI Shielding Tapes, Conductive Coatings and Paints), By Service Type(Testing Services, Inspection Services), By End-User(Consumer Appliances and Electronics, Automotive Military and Aerospace) - Industry Forecast 2024-2031

EMC Component Market size was valued at USD 1.2 billion in 2021 and is poised to grow from USD 1.25 billion in 2022 to USD 1.75 billion by 2030, growing at a CAGR of 4.3% in the forecast period (2023-2030).

The EMC components market is highly fragmented, with several small and large players operating in the market. The market is characterized by intense competition, with companies competing on the basis of price, quality, and technological innovation. In addition, companies are also focusing on expanding their geographic reach and strengthening their distribution channels to reach a wider customer base. Some of the key strategies adopted by companies in the market include mergers and acquisitions, partnerships and collaborations, and product launches. The competition is expected to intensify further as companies continue to invest in research and development to develop advanced EMC components. 'Murata Manufacturing Co., Ltd.', 'TDK Corporation', 'Laird Technologies, Inc.', 'TE Connectivity Ltd.', 'Parker Hannifin Corporation', 'API Technologies Corp.', 'Würth Elektronik GmbH & Co. KG', 'Schaffner Holding AG', 'AVX Corporation', 'KEMET Corporation', 'EPCOS AG', 'Johanson Dielectrics, Inc.', 'Bourns, Inc.', 'Vishay Intertechnology, Inc.', 'Fair-Rite Products Corp.', 'EMI Solutions Pvt. Ltd.', 'Pulse Electronics Corporation', 'Ferronics, Inc.', 'ON Semiconductor Corporation', 'NXP Semiconductors N.V.'

The increasing use of electronics systems and devices in the automotive sector is driven by the need for advanced safety features, improved connectivity, and enhanced user experience. With the advent of electric vehicles, there is a growing need for sophisticated battery management systems and charging infrastructure, which relies heavily on electronic components. Additionally, the use of sensors and cameras for advanced driver assistance systems (ADAS) and autonomous driving capabilities is increasing, further driving the need for electronic systems in vehicles. The demand for connected cars, which offer features such as infotainment systems and telematics services, is also contributing to the growth of the electronics market in the automotive sector.

One market trend in the EMC Component market is the increasing adoption of electronics systems and devices in the automotive sector. With the growing demand for electric vehicles and advanced driver assistance systems, there is a need for effective solutions for shielding electromagnetic compatibility in order to ensure the reliable and safe operation of these systems. As a result, the automotive sector is expected to be one of the fastest-growing segments of the market for shielding electromagnetic compatibility. Companies that can provide effective solutions to meet the needs of this sector are likely to see significant growth opportunities in the coming years.

North America is a dominant region in the EMC components market. The region has a well-established electronics industry and is home to several key players in the market. The increasing demand for consumer electronics, automotive, and aerospace equipment is driving the growth of the EMC components market in North America. In the consumer appliances and electronics segment, North America is a significant market, owing to the high demand for electronic devices such as smartphones, laptops, and televisions. The region is also home to some of the world's largest technology companies, such as Apple, Microsoft, and Intel, which are driving the growth of the market. These companies are investing heavily in research and development to develop advanced electronic devices, which are driving the demand for EMC components. In the automotive and aerospace segments, North America is a leading market for EMC components. The region is home to several major automakers and aerospace companies, such as General Motors, Boeing, and Lockheed Martin. These companies are investing in advanced technologies such as electric vehicles and autonomous driving, which are driving the demand for EMC components to ensure the proper functioning of electronic systems in these vehicles and equipment. North America is also a leading market for the IT and telecommunications segment. The region is home to several major technology companies, such as Cisco Systems and Qualcomm, which are driving the growth of the market. The increasing demand for high-speed connectivity and advanced networking technologies is driving the demand for EMC components in this segment.