Impact of COVID-19 on the Electronic Filters Market
Electronic filters amplify certain frequencies while attenuating other unwanted frequencies. They are capable of extracting important frequencies from a signal. Before the COVID-19 outbreak, the electronics market was growing at a moderate pace. Post the spread of this disease, the electronics production facilities have halted. Since the most common way in which COVID-19 spreads is close contact between humans, various e-commerce companies temporarily discontinued the delivery of non-essential items comprising mostly of electronics products, thus, affecting the sales of electronic products in general and components such as electronic filters in particular. The demand for electronic filters has been affected by the decline in the sales of various electronics products. The shutdown of retail shops, showrooms, hypermarkets, and supermarkets has led to a decrease in the sales of electronics products.
China has established its position as a leading producer and exporter of various raw materials required for producing finished electronic goods. The lockdown imposed in the country has led to a temporary slowdown/halt in the ongoing production of electronic components, which has reduced the production of finished goods such as electronic filters by electronic manufacturers based globally, creating a gap in the demand and supply of electronic products, due to limited logistic movement and temporary factory shutdowns. These factors are expected to have a sustained impact on the market during the rest of the year. The global spread of COVID-19 has disrupted the global supply chains of major electronics manufacturers. As per the MRF analysis, the market is likely to achieve growth within two quarters after the pandemic is under control. Due to COVID-19, there will undoubtedly be some delays in the development and shipment of electronic filters since manufacturers are not able to procure the required raw materials. The market players are resuming operations while also ensuring maximum health safety and operating at reduced capacity as prescribed by government authorities.
Electronic Filters Market Size Forecast
Source: MRFR Analysis