Saturday, 25 May 2024
Monday, 13 Nov 2023 12:00 am

EMC Testing Market is expected to reach US$ 3.99 billion by 2030

EMC Testing Market size is expected to grow at a CAGR of 5.8% during 2022-2030, to surpass US$ 3.99 Billion by 2030, from US$ 2.55 Billion in 2022.

By The Insight Partners

Growing Demand for Electric Vehicles Provide Opportunities for EMC Testing Market During 2022–2030

According to our latest study on “EMC Testing Market Forecast to 2030 – Global and Regional Share, Trends, and Growth Opportunity Analysis – by offering, service type, and end-use,” the EMC testing market size was valued at US$ 2.55 billion in 2022 and is expected to reach US$ 3.99 billion by 2030; it is estimated to record a CAGR of 5.8% from 2022 to 2030.

Battery-powered electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) are the three primary forms of electric vehicles (EVs). Asia Pacific (Japan and China), Europe, and the US are among the most important markets for EVs, with strong sales performance. Electric two-wheelers, three-wheelers, and buses are gaining significant traction owing to rising environmental concerns and government support. Power converters, shielded and unshielded cables, electric motors, wireless chargers, and batteries are the key typical electric drive system components. All these components are susceptible to EMI and electromagnetic radiation. In recent years, the popularity of wireless charging has increased in the electric vehicles market. Unlike automobiles powered by internal combustion engines, certain electric vehicles emit more electromagnetic waves when charging than when driving. The power required by the electric drive system is significantly higher than that required by the entire electric system in traditional automobiles. Other characteristics of an electric vehicle, including weight, size, and produced noise, need the use of specialist EMI shielding materials. As a result, the rise of the electric vehicle market is likely to open up significant opportunities for the electromagnetic compatibility (EMC) testing market players in the coming years. 

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00008397

Europe holds a significant share of the EMC testing market. Germany, France, the UK, and Italy are among the major countries contributing to the growth of the Europe EMC testing market. A positive outlook toward the adoption of advanced technologies in manufacturing and commercial operations is driving the Europe electromagnetic compatibility testing market. The automotive sector—led by Germany due to the presence of well-established automotive manufacturers such as Daimler AG, VW, BMW, Porsche, Opel, and Audi—is the largest contributor to the electromagnetic compatibility (EMC) testing market in Europe. The region comprises several major automotive manufacturing assembly and production plants. For instance, according to the European Automobile Producers Association (ACEA), 10.9 million passenger cars were produced in 2022, representing more than 8.3% growth from 2021. Similarly, in 2022, car exports in the region increased by 24.4%, reaching 177.22 billion, with Germany becoming the largest exporter with 98 billion cars, representing 59% of the total exports in Europe. The growing automotive production in the region is boosting the EMC testing market growth. EMC testing helps automotive manufacturers by upgrading their vehicle safety standards. These tests are performed to maintain numerous safety functions such as steering, braking, and avoiding collision, which raises the adoption among automotive manufacturers and fuels the EMC testing market growth in the region. The increasing investment in EVs is driving the EMC testing market. For instance, according to the International Energy Agency (IEA), the European Commission signed an agreement with the European Investment Bank to invest US$ 1.58 billion in the development of the EV sector. The investment also includes alternative fuel infrastructure and EV charging. The expansion of the EV sector in Europe increases demand for EMC testing to minimize the loop area by increasing the overall reliability parameters of the vehicle. Car manufacturers are making high investments in their EV production capabilities, which is further propelling the electromagnetic compatibility testing market growth in Europe.

Segmental Overview

The EMC testing market is segmented on the basis of offering, service type, end-use, and geography. Based on offering, the EMC testing market is divided into hardware & software and services. Based on service type, the EMC testing market is categorized into testing services, inspection services, certification services, and others. Based on end-use, the EMC testing market is categorized into consumer appliances and electronics, automotive, IT and telecommunications, and others. Geographically, the EMC testing market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Competitive Landscape and Key Developments

Ametek Inc, Element Materials Technology Group Ltd, Bureau Veritas SA, Eurofins Scientific SE, Intertek Group Plc, TÜV NORD Group., Rohde & Schwarz GmbH & Co KG, SGS SA, TUV SUD AG, and UL, LLC are among the key EMC testing market players profiled during the EMC testing market study. Various other EMC testing market players are introducing new product offerings to contribute to the EMC testing market size proliferation. Several other important EMC testing market players were also analyzed during this market research to get a holistic view of the global market and its ecosystem. The leading EMC testing market players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to grab new business opportunities.

  • In May 2023, Ametek CTS announced the launch of a comprehensive video series that delves into the new Power Wave range of power sources for EMC testing. This resource is designed to provide practical insights for engineer’s keen on expanding their knowledge of the Power Wave series.
  • In January 2023, Global testing company Eurofins Scientific expanded its U.S. laboratory services to assist the produce industry. The laboratory testing company has also partnered with the Grower-Shipper Association of Central California to bring Eurofins' food safety and testing solutions to the produce industry. It plans to achieve this by bringing additional laboratories and technical services to the Salinas Valley in California, according to the release.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy