Global Noise suppression Components Market Size, Share, Growth Analysis, By Type(Conductive Coatings, PCB Level Shieldings), By Application(Aerospace and Defense, Automobile) - Industry Forecast 2024-2031

Global Noise suppression Components Market size was valued at USD 13.1 billion in 2019 and is poised to grow from USD 14.83 billion in 2023 to USD 39.98 billion by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031).

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.', 'TDK Corporation', 'Taiyo Yuden Co. Ltd.', 'STMicroelectronics N.V.', 'Rohm Co. Ltd.', 'On Semiconductor Corporation', 'NXP Semiconductors N.V.', 'Texas Instruments Inc.', 'Analog Devices Inc.', 'Infineon Technologies AG', 'Maxim Integrated Products Inc.', 'Renesas Electronics Corporation', 'AVX Corporation', 'KEMET Corporation', 'EPCOS AG', 'Vishay Intertechnology Inc.', 'Panasonic Corporation', 'Elna Co. Ltd.', 'Würth Elektronik GmbH & Co. KG', 'Knowles Corporation'

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.