The Global Electrostatic Discharge (ESD) Trays Market is Booming Owing to the Extensively Increasing Demand for these Trays from Automotive IndustryDownload Sample Reports Overview
Electrostatic discharge (ESD) trays market is projected to reach $1,312.2 million by 2030, growing from $659.3 million in 2021, at a CAGR of 8.0% in the forecast period.
Impact Analysis of COVID-19 on the Electrostatic Discharge (ESD) Trays Market
The new coronavirus has had a negative impact on the global market for electrostatic discharge trays. Most electronic manufacturing plants were shut down and unable to operate as a result of the global lockdown imposed by governments. This factor had a significant impact on the growth of the ESD trays market.
However, due to high demand for electronic components, the market is expected to grow following the pandemic.
Global Electrostatic Discharge (ESD) Trays Market Analysis
Electronic components and tools used in industries such as consumer electronics and computer peripherals, as well as the automotive industry, are extremely sensitive and can be damaged if they come into contact with electrostatic discharges. As a result, the tray assists in maintaining a better distance between the equipment that can be damaged by rubbing against each other. The high safety of electronic components and devices packed and transported in ESD trays is expected to be the primary driving factor for the global electrostatic discharge trays market during the forecast period. These factors are expected to drive the ESD trays market during the forecast period.
Because electrostatic trays are very thin, they are prone to breaking, which can damage the semiconductors or components contained within them. This factor is expected to stifle market growth.
Rising demand from the automotive and semiconductor industries is expected to improve growth opportunities for the electrostatic discharge trays market in the near future.
Global Electrostatic Discharge (ESD) Trays Market, Segmentation
The global ESD trays market is segmented based on end-user and region.
The end-user segment is further classified into network & telecommunication industry, consumer electronics & computer peripheral, automotive industry, military & defense, healthcare, aerospace, and others. Automotive industry sub-segment is predicted to have the maximum growth rate in the forecast period and reach $160.8 million by 2030, growing at a CAGR of 8.6% in the forecast period. Because of their high durability, ESD trays are becoming increasingly popular in the automotive industry. Furthermore, rising demand for various electronic components in the automotive industries is expected to drive market growth in the coming years
Asia-Pacific ESD trays market is predicted to have the highest growth rate in the forecast period and reach $336.7 million by 2030, growing at a CAGR of 8.9% in the analysis period. The Asia-Pacific ESD tray market is regarded as one of the most important markets for ESD trays. This is primarily due to the availability of skilled labor and the abundance of raw materials. For example, in January 2021, Apple planned to manufacture the iPhone 12 series in India, with some of the iPhone 12 models being directly manufactured in India's Foxconn facilities.
Key Players in the Global Electrostatic Discharge (ESD) Trays Market
Some of the significant electrostatic discharge (ESD) trays market players include
- Smurfit Kappa Group
- Desco Industries
- PPG Industries
- TIP Corporation.
- Conductive Containers Inc.
- Elcom (UK) Ltd.
- Tandem Equipment Sales Inc.
- Global STATCLEAN SYSTEMS.