The packaging industry has changed drastically over the years and the industrial electronics packaging market has also seen substantial evolution as demand for electronic components is ever-increasing. From rigid to flexible packing, all kinds of packaging formats are available to best fulfill industry requirement as per application.
Industrial electronics packaging consumption rose at a CAGR of 3.5% from 2014 to 2021, with high need for custom electronic packaging complementing demand growth.
Industrial electronic components have seen substantial increase in demand as there is huge increase in the industrial sector of many emerging economies of the world. Evolving electronics industry, advanced packaging demand, device miniaturization, etc., are some more factors that shape the industrial electronics packaging marketplace.
Sales of industrial electronics packaging are predicted to rise at a CAGR of 4.1% from 2022 to 2029.
Which Regions are expected to Be Lucrative for Industrial Electronics Packaging Suppliers?
“North America Industrial Electronics Packaging Market to Lead Global Demand”
The industrial electronic product packaging landscape is explained in detail for regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
Demand for industrial electronics packaging designs in North America is expected to be most prominent among all the other regions, and the continent is anticipated to hold a major market share in the global landscape. Well-established electronics industry, high electronics production, and rising demand for durable and cost-effective packaging are major factors that influence the sales of industrial electronics packaging in North America.
South Asia has also been identified as a highly lucrative regional market for industrial electronics packaging. Industrial electronics packaging demand in this region is expected to be majorly driven by emerging economies such as India, where consumer electronics and other electronic product consumption is increasing rapidly.
East Asia also exhibits lucrative opportunities for industrial electronics packaging suppliers, and majorly, Japan is driving market potential in the region. With Japan accounting for more than 1/2 of the market share in this region, it is expected to be the dominant nation over the forecast period, followed closely by China , which also has a budding electronics manufacturing landscape.
Industrial electronics packaging sales in Europe are expected to rise at a noticeable pace over the forecast period. Demand for industrial electronics packaging in Europe is expected to be spearheaded by Germany, which currently holds nearly 60% of the market share in the region.
Industrial electronics packaging shipments in the MEA region are expected to see relatively sluggish growth over the forecast period. Demand is expected to rise over the forecast period as urbanization spreads and the proliferation of technology increases, thereby driving demand for custom electronic packaging solutions.
Country-wise Analysis
How Lucrative is the U.S. Market for Industrial Electronics Packaging Vendors?
“Rising Sales of Industrial Electronics in USA Driving Packaging Consumption”
The U.S. has a robust electronics industry that is very well established on the global landscape. Presence of leading industrial electronics packaging manufacturers in the U.S. makes it a leading producer in the world. High consumer electronics demand, increased technological proliferation, and technological advancements are some of the major factors driving the consumption of industrial electronics packaging in the U.S.
Moreover, growing demand for next-generation electronic products in industries is also expected to fuel industrial electronics packaging shipments. Increasing trend of automation is also expected to boost sales of different industrial electronic components.
How is the China Industrial Electronics Packaging Industry Anticipated to Perform?
“Well-established Manufacturing Sector to Drive Demand for Packaging for Electronic Products”
China is one of the most important manufacturing hubs in the world. The nation is a leading name in electronic component manufacturing and production. This makes it a very lucrative market for the electronics packaging industry as well. Demand for industrial electronics and electronics packaging is high in China as it is a major manufacturing hub for multiple electronic components.
China is anticipated to emerge as one of the key markets for industrial electronics packaging as government initiatives are attracting investors to invest in the Chinese packaging for electronic products market.
Competitive Landscape
· In May 2020, KLA Corporation announced its new business group that will be completely focused on its electronics, packaging, and components (EPC) businesses. The new business is aimed at catering to the changing landscape of the electronics industry with the emergence of technologies such as IoT, machine learning, and others.
· In October 2020, Smurfit Kappa Group announced that it had completed the acquisition of Verzuolo for a cost of € 360 Mn. This new acquisition adds a 600,000-tonne containerboard mill in Northern Italy to the group’s assets, and is expected to contribute to the sustainability goals of the company.
