What is the global market size of Noise suppression Components Market?

Noise suppression Components Market size was valued at USD 19.00 billion in 2022 and is poised to grow from USD 21.51 billion in 2023 to USD 58.00 billion by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031).

Noise suppression Components Market Size

Noise suppression Components Market Insights

Global Noise suppression Components Market size was valued at USD 21.45 billion in 2023 and is poised to grow from USD 24.26 billion in 2024 to USD 64.95 billion by 2032, growing at a CAGR of 13.1% during the forecast period (2025-2032).

The global noise suppression components market is poised to experience growth in the upcoming years, due to several key drivers. One of the primary factors contributing to market growth is the increasing production and consumption of electronic devices. As the use of electronics becomes more widespread, the need for noise suppression components to enhance their performance and minimize unwanted noise and electromagnetic interference rises. Another factor expected to fuel market growth is the growing popularity and affordability of noise cancellation headphones. These headphones rely on noise suppression components to filter out unwanted sounds, leading to increased demand for these components in the audio and entertainment industries.

Additionally, the adoption of plastic housing in electronic devices is also contributing to the growth of the noise suppression components market. Plastic housings are preferred over metal housings due to their lower cost, lighter weight, and non-conductive properties, making them ideal for use in devices that are installed near water. However, plastic housings need to be coated with a conductive layer to provide shielding, allowing electromagnetic waves to pass through them easily.

The rise in the number of theaters worldwide is another factor that is likely to positively impact the growth of the noise suppression components market. Theatres use DOLBY, an unwanted noise reduction system, which requires the use of noise suppression components to function properly.

However, one factor that may hinder the growth of the market to some extent is the difficulty in separating various noises coming from different sources. This limitation can make it challenging to develop noise suppression components that effectively filter out specific types of noise while allowing other sounds to pass through unaffected.

US Noise Suppression Components Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

The noise suppression components market is highly competitive, with the presence of several global and regional players. Some of the key players in the market include Murata Manufacturing Co., Ltd., TDK Corporation, Laird PLC, Panasonic Corporation, and TE Connectivity Ltd., among others. These companies are focusing on strategies such as product innovation, collaborations, and mergers and acquisitions to gain a competitive edge. For example, in 2021, Murata Manufacturing Co., Ltd. announced the launch of a new noise suppression filter for in-vehicle applications. The filter is designed to provide high attenuation of common mode noise in a compact size, and its launch is expected to enhance the company's product portfolio and market position. 'Murata Manufacturing Co. Ltd. (Japan) ', 'TDK Corporation (Japan) ', 'Taiyo Yuden Co. Ltd. (Japan) ', 'STMicroelectronics N.V. (Switzerland) ', 'Rohm Co. Ltd. (Japan) ', 'On Semiconductor Corporation (US) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Texas Instruments Inc. (US) ', 'Analog Devices Inc. (US) ', 'Infineon Technologies AG (Germany) ', 'Renesas Electronics Corporation (Japan) ', 'AVX Corporation (US) ', 'KEMET Corporation (US) ', 'EPCOS AG (Germany) ', 'Vishay Intertechnology Inc. (US) ', 'Panasonic Corporation (Japan) ', 'Elna Co. Ltd. (Japan) ', 'Wurth Elektronik GmbH & Co. KG (Germany)'

With the growing popularity of electronic devices, such as smartphones and laptops, there is an increasing demand for noise suppression components that improve audio quality and reduce unwanted noise. For example, Murata Manufacturing Co., Ltd., a leading supplier of electronic components, offers noise suppression components for smartphones and other portable devices. In 2020, Murata released its new noise suppression component, the BLM18SG_BH1 series, which offers high attenuation for low frequency noise.

Growing demand for electric vehicles: As the demand for electric vehicles (EVs) increases, noise suppression components are becoming a critical component of the EV ecosystem. This trend is expected to continue as governments around the world implement policies to encourage the adoption of EVs.

In 2021, North America held the largest share in the global noise suppression components market in terms of revenue. The region is expected to maintain its dominant position over the forecast period, fueled by increasing military expenditures in countries such as the United States and Canada. On the other hand, the Asia Pacific market is expected to experience the highest growth rate over the forecast period. This growth can be attributed to the rising demand for consumer electronics and healthcare equipment at the domestic level. Additionally, government initiatives aimed at boosting investments in the defense sector in countries like India, China, and Japan are expected to drive regional growth.