Industrial Electronics Packaging Market 2022 | Present Scenario and Growth Prospects 2029

FMI added recently released new research report on Industrial Electronics Packaging Market by Top Manufacturers, Regions, Type and Application, Forecast provides updates and information related to industry coverage, current market competitive status, and market outlook. The market report titled Industrial Electronics Packaging Market has company analysis, history, and future overview, global sales trends by 2029. It will be one of the most comprehensive and important additions for growth of the business through market research studies

The global industrial electronics packaging market currently enjoys a valuation of US$ 1.9 Bn, and is predicted to expand at a CAGR of 4.1% to attain a net worth of US$ 2.5 Bn by the end of 2029.

Nearly 3.5% annual growth is expected in the volume consumption of industrial electronics packaging solutions, in 2022. As indicated by a new market research study of Future Market Insights (FMI), nearly 70% of the demand for industrial electronics packaging is generated by industrial controls and power electronics.

More than 90% of the overall industrial electronics packaging solutions are in the rigid format. Flexible packaging formats, although rapidly gaining ground across industries, holds a negligible share in packaging of industrial electronics.

Material-wise, plastics currently hold nearly 60% share in industrial electronics packaging materials and are likely to retain dominance in the global industrial electronics packaging market. The report opines that polyethylene (PE) will remain the most rewarding segment in the industrial electronics packaging market, followed by polyvinyl chloride (PVC), according to the report.

Asian Economies Hold Promising Investment Opportunities for Industrial Electronics Packaging Companies

North America is estimated to be the most prominent industrial electronics packaging market, the report also points to the robust growth in East Asia’s market attractiveness over the years to come. The East Asian market for industrial electronics packaging will thus remain a significant regional contender in the industrial electronics packaging landscape, according to FMI’s analysis.

In East Asia, Japan holds more than 50% of the market share, followed by China. South Asia is also cited as a highly lucrative investment pocket for manufacturers of industrial electronics packaging solutions, potentially outpacing other regional markets in terms of growth rate. Growth of South and East Asian market is attributed to robust manufacturing of consumer electronics and swelling demand for impact-resistant protective packaging solutions.

Europe is another prominent market for industrial electronics packaging, more than 60% of which is accounted by Germany. The country will continue to spearhead European market owing to towering rate of production of semiconductor components and equipment.

Europe & the US Account for a Massive Share in Global Production of Industrial Electronics

Manufacturers of industrial electronics packaging are eyeing business expansion across countries with high consumer electronics production, as an effort to strengthen their foothold in the global industrial electronics packaging market. Leading manufacturers of industrial electronics packaging are either based out of the US or Europe, or have a strong presence in these regions, as both the markets hold a collective share of more than 60% in the global production of industrial electronics.

Key Segments of Industrial Electronics Packaging Industry Survey

Industrial Electronics Packaging Market by Product Type:

Testing & Measuring Equipment

Process Control Equipment

Industrial Controls

Power Electronics

Industrial Automation Equipment & Others

Industrial Electronics Packaging Market by Material Type:

Plastic Industrial Electronics Packaging

PE

PET

PS

PP

PVC

Paper & Paperboard Industrial Electronics Packaging

Industrial Electronics Packaging Market by Packaging Type:

Rigid Industrial Electronics Packaging

Corrugated Boxes

Containers

Protective Packs

Trays

Clamshells

Bin & Totes

Others

Access Full Report@ https://www.futuremarketinsights.com/reports/industrial-electronics-packaging-market