Europe EMC Testing Market
Published On: Apr 2024
Published On: Apr 2024
At 5.3% CAGR, Europe EMC Testing Market is Projected to be worth US$ 833.83 million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe EMC testing market was valued at US$ 553.38 million in 2022 and is expected to reach US$ 833.83 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Growing demand for electric vehicles and increasing adoption of wireless technologies are among the critical factors attributed to the Europe EMC testing market expansion.
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.
On the contrary, high cost of test equipment hurdles the growth of Europe EMC testing market.
Based on offering, the Europe EMC testing market is bifurcated into hardware & software and services. The hardware & software segment held 64.1% market share in 2022, amassing US$ 354.51 million. It is projected to garner US$ 502.39 million by 2030 to expand at 4.5% CAGR during 2022-2030.
In terms of service type, the Europe EMC testing market is categorized testing services, inspection services, certification services, and others. The testing services segment held 54.6% share of Europe EMC testing market in 2022, amassing US$ 108.62 million. It is projected to garner US$ 171.46 million by 2030 to expand at 5.9% CAGR during 2022-2030.
By end use, the Europe EMC testing market is segmented into consumer appliances & electronics, automotive, IT & telecommunications, medical, industrial, military & aerospace, and others. The consumer appliances & electronics segment held 24.4% share of Europe EMC testing market in 2022, amassing US$ 135.17 million. It is projected to garner US$ 183.19 million by 2030 to expand at 3.9% CAGR during 2022-2030.
Based on country, the Europe EMC testing market has been categorized into Germany, France, Italy, Russia, the UK, and the Rest of Europe. Our regional analysis states that Germany captured 30.1% share of Europe EMC testing market in 2022. It was assessed at US$ 166.63 million in 2022 and is likely to hit US$ 249.71 million by 2030, exhibiting a CAGR of 5.2% during 2022-2030.
Key players operating in the Europe EMC testing market are Ametek Inc, Element Material Technology Group Ltd, Bureau Veritas SA, Eurofins Scientific SE, Intertek Group PLC, TUV Nord Group, Rohde & Schwarz Gmbh & Co KG, SGS SA, TUV SUD AG, and UL LLC, among others.
E 1803, Panchshil Towers, Vagholi, Haveli, Pune- 412207, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
