Northbrook, IL 60062 -- (SBWIRE) -- 02/08/2023 -- The global EMI shielding market size is anticipated to grow from USD 6.6 billion in 2022 to USD 8.6 billion by 2027, at a CAGR of 5.4% from 2022 to 2027.
Rising requirements for innovative EMI shielding solutions due to increasing electromagnetic pollution on account of growing digitalization and surging demand in consumer electronics and automotive industries due focus of OEMs in technological advancements are some of the major factors propelling the growth of market.
The market growth for EMI shielding market will be showing significant upsurge due to its various applications in several industries such as consumer electronics, telecommunications & information technology, automotive and so on. Various OEMs adapting different strategies including deals such as acquisitions, sales contracts and developments such as product launches as well as product enhancements and so on are driving the growth of market.
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The 5th generation cellular network, generally known as 5G, is the next-generation technology likely to be adopted in various countries at different times due to the rising need for high-speed wireless connectivity. This technology is expected to generate various new applications, uses, and business cases by automating many network behaviors. Therefore, rapid advancements in 5G are the driving factors for the EMI shielding market. Furthermore, 5G technology accelerates digitalization due to the growing requirement for improved services and solutions across industries.
Asia Pacific is expected to be the largest contributor to EMI shielding market during the forecast period. Rapid industrialization and infrastructure developments are driving the growth of consumer electronics and automotive industries in China that is expected to increase the demand for EMI shielding solutions in the region. The consumer electronics and automotive industries are in the leading position in Asia Pacific, and the market for the telecommunications and information technology also is expected to grow at the considerable rate in this region in the upcoming years. The economic growth of the region and the lower operating costs in countries such as China and India are expected to drive the demand for EMI shielding solutions in Asia Pacific.Also, the surging demand for electronics and automotive due to EVs and HEVs as well as other industrial activities in the region will drive huge demand for market in Asia Pacific.
Key Market Players
The EMI shielding market's players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships, and acquisitions to strengthen their offerings in the market. The major players in the market are Parker Hannifin (US), PPG Industries (US), Henkel (Germany), 3M (US), Laird Performance Materials (UK), RTP Company (US), Schaffner (Switzerland), and Leader Tech (US) among others.
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