The Electromagnetic Compatibility (EMC) Shielding Market size is forecast to reach $2.08 billion by 2026, growing at a CAGR of 5.2% in the period 2021-2026. The growth of the EMC Shielding Market is mainly attributed to increasing growth of auto-electronics sector such as smart phones, laptops, desktops, Tablets and many others. EMC shielding is a method which is used to protect a sensitive signal from external electromagnetic signals or preventing a stronger signal from leaking out and interfering with surrounding electronics. For instance, it can cover PCB elements such as IC chips and active components or connectors and cables between PCBs to protect signal leaking. With the increasing demand and production of consumer electronics in global level, the need of EMC shielding technology is of prime focus by the component manufacturers. For instance, several companies have been investing heavily for the production of electronic products. India aims to produce $24 billion worth of mobile phones by 2020 and overall $190 billion worth of mobile phones by 2025. This increasing investment in the consumer electronics sector has brought significant growth in the demand of Electromagnetic Compatibility (EMC) Shielding.
Electromagnetic Compatibility (EMC) Shielding Market Segment Analysis – By Types
By type, the electromagnetic compatibility shielding market is segmented into cable shields, enclosures, gaskets, conductive coating & paints, vents and Filters and others. Among them, Gaskets is a major segment, accounting for around 36% in the Electromagnetic Compatibility (EMC) Shielding Market globally in 2020. This is because adoption of gaskets with electromagnetic or radio frequency interference shielding has been gaining popularity due to using elastomeric materials, which tends to more flexible, resilient as well as offers better damping properties. These factors have been helping to further boost the demand for gaskets made using such advanced materials, which can significantly reduce the electromagnetic interference susceptibility of the equipment. For instance, major industries including chemicals, oil & gas with many others offer a highly critical and hazardous environment, thus need towards efficient valves or fittings becomes highly essential. As these industries conduct processes which accounts for a wide range of obnoxious gases which can significantly cause temperature rise within the work environment. For maintaining industrial safety standards, manufacturers have been adopting EMI based gaskets for the industrial pipeline fittings, flanges or valve seals which can remove threats of electromagnetic interference.
Electromagnetic Compatibility (EMC) Shielding Market Segment Analysis – By End Use Industry
By end-user, the electromagnetic compatibility (EMC) shielding market is segmented into Consumer electronics, telecommunication, automotive, industrial, Aerospace & defense, healthcare and others. The Industrial sector segment for the Electromagnetic Compatibility (EMC) Shielding Market is poised to grow at a CAGR of 5.58% in the forecast period 2021-2026. Industrial sector is considered as a major end use industry owing to a wide range of equipment for serving applications like robotics, machine tools and many others using automated guided vehicles, cranes, automated warehousing systems and others. Since, this heavy-duty machinery equipment is susceptible towards electromagnetic radiations, there are generally a variety of products including shielded coatings, gaskets, enclosures, RF absorbers and so on, to avoid production delays within the industrial environments. Moreover, with increasing shift towards Industry 4.0 for improving production and manufacturing facilities across various industries have been causing high demands towards automated machine tools along with industrial robots. This has brought significant growth in the demand of EMC shielding in Industrial sector further propelling its market growth.
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Electromagnetic Compatibility (EMC) Shielding Market Segment Analysis – By Geography
North America holds a dominant share of 33% in the Electromagnetic Compatibility (EMC) Shielding Market in 2020, which can be attributed to increased investments in the Consumer Electronics and Healthcare sector. Increasing adoption of EMI shielding in telecommunication sector due to increase in investments in 5G technology propels the market growth. United States is analyzed to hold the major share in North America region. The market in United States is mainly driven by technological progress and increasing demand for LEDs in a wide array of consumer electronic devices. Besides, the electronics manufacturing services (EMS) industries in the region have also grown in the last couple of years which have also been boosting the EMC shielding market. For instance, on 2020, Ericsson has committed to increase US investments to support accelerated 5G deployments. Furthermore, aerospace and defense engineers opt for innovative EMI, EMC and RFI shielding solutions and materials to protect safety- and mission-critical systems from intentional and unintended electronics emissions. These major investments will bring significant growth in the demand of EMC Shielding further propelling its market growth.
Electromagnetic Compatibility (EMC) Shielding Market Drivers
Growing Demand in Consumer Electronics Products
The rising popularity of electronics products owing to ongoing product innovation coupled with technology adoption and demand for electrical devices drives the EMC shielding market growth. Additionally, the need for electromagnetic and radio frequencies mainly in the early phase of production of consumer electronics is boosting demand for the EMC shielding. EMC Shielding is used to protect a sensitive signal from external electromagnetic signals or preventing a stronger signal from leaking out and interfering with surrounding electronics. It also helps to protect major chips and PCBs from harmful radiations. Moreover, several companies have been investing heavily to produce electronic products. For Instance: India aims to produce $24 billion worth of mobile phones by 2020 and overall $190 billion worth of mobile phones by 2025. Moreover, according to India Brand Equity Foundation (IBEF), consumer electronics hardware production in India witnessed an increase from US$ 72.38 billion in FY19 to US$ 89.38 billion in FY20. This increasing production of electronics has brought significant growth in the demand of Electromagnetic Compatibility (EMC) Shielding. Hence these kinds of investments are analyzed to drive the market for EMC Shielding market in the forecast period 2021-2026.
Rise in Production of Electric Vehicles
Electromagnetic Compatibility (EMC) Shielding plays a major role in the automotive sector, especially in the new global trend of Electric vehicles. The automotive industry has recently experienced a tremendous push towards electrification and all OEMs are planning to develop new electric cars. Especially hybrid (HEV) and battery electric vehicles (BEV) are developed and needed to fulfil ambitious CO2 emission targets faced by OEMs. With the introduction of a high voltage system and the flow of high currents feeding the drive train, novel concepts are required to ensure that the newly developed vehicles fulfil electromagnetic emission standards and human safety requirements. As EMC shielding helps in reducing electromagnetic emissions, so the demand for EMC shielding is increasing in the forecast period. Moreover, rise in production of vehicles provide significant opportunities in the forecast period. For instance, on 2019, Ford had invested $1.45 billion in the Detroit plants in U.S., to produce the vehicles. Similarly, Toyota is looking to invest $749M in expanding the U.S. manufacturing facilities to increase the production of the RAV4 hybrid and Lexus ES 300h hybrid vehicles. These rising investments in the electric vehicles production will bring significant growth in the demands of EMC Shielding technology further driving its market growth in the forecast period.
Electromagnetic Compatibility (EMC) Shielding Market Challenges
Increasing technology upgrades offering miniature components and high processing cost
Advancements in integrated circuits and power systems have dramatically reduced the size of various electronic devices, such as smartphones, cameras, TVs, and computers. The miniaturization of such devices leads to concerns related to the interference of signals within the device as the technology integrates various components (transmitters, sensors, receivers, and others) in a single compact enclosure. The smaller size of the components and their proximity largely increases the chances of exposure to EMC from adjacent components within the same device. The smaller size also reduces the overall space available for EMC shielding solutions. It is very hard to identify EMI in such small circuitry. Moreover, the high cost of EMC shielding increases the overall cost of the end product and acts as restrain for the market growth. Further growing alternative processes competing with EMC Shielding Compounds such as foils and conductive fabrics, metallic inner shields, and plastics with a conductive coating are also analyzed to hamper the growth in the forecast period 2021-2026.
Electromagnetic Compatibility (EMC) Shielding Market Landscape
Partnerships and acquisitions along with contracts and up gradation are key strategies adopted by players in the Electromagnetic Compatibility (EMC) Shielding Market. In 2020, the market for the Electromagnetic Compatibility (EMC) Shielding remained consolidated, with the top 10 players accounting for approximately 49% of market share. The major players in the Electromagnetic Compatibility (EMC) Shielding Market include Parker-Hannifin, PPG Industries, 3M Company, Henkel, Laird Technologies, Inc., Kemtron Ltd., Keysight Technologies, RTP Corporation and Tech-Etch, Inc.
On October 2019, Kemtron, Ltd. launched flame retardant EMC shielding gasket. It is a nickel coated graphite loaded silicon elastomer having a high level of EMI shielding. It has a more aggressive surface finish owing to which it provides low surface contact resistance.
On June 2019, PPG Industries introduced Teslin EMI/RF shielding material. These materials have unique shape and also have high conductivity. These materials provide durable grounding path.
Key players including Parker-Hannifin, PPG Industries, 3M, Henkel and Keysight Technologies, accounted for around 49% of the total market share in 2020, with contracts and partnerships being adopted as key strategies.
The major driving factor in the EMC Shielding Market is increased production of consumer electronics in global market. Due to rising demand of automation in daily-life of consumers, there is a huge market growth in in the electronics sector such as televisions. Various televisions of different specifications are used in multiple end-use industries. This tend to propel the demand of EMC Shielding further driving its market growth.
Electromagnetic frequencies can affect many sensitive electronics and can cause a wide variety of different issues. From a simple hiss on a communication line, to a total disruption of a safety-critical signal, these electromagnetic frequencies can cause severe damages. This malfunction can be simply solved by EMC shielding technology which set to drive its market growth in Telecommunication sector.
Asia-Pacific is the largest market for EMC Shielding Market, accounting for majority of the global market share in 2020 owing to increased demand for consumer electronics and availability of tech-giant economies such as China, Japan, Korea and India. For instance, according to World Trade Organization (WTO), China is the largest exporter of consumer goods of worth $ 2499.45 Billion. This increased output has flourished major electronics components market growth including EMC shielding and is expected to rise in forecast period.
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