The printed circuit boards (PCBs) market is poised for remarkable growth, with projections indicating an extraordinary valuation surpassing US$ 104.8 billion by 2033. Fueled by a consistent compound annual growth rate (CAGR) of 5.1% forecasted from 2023 to 2033, this ascent highlights the pivotal role of PCBs in shaping the rapidly evolving technological landscape.
Driving this remarkable market expansion is the relentless march of technological progress. As innovation continues to redefine our world, PCBs stand at the forefront of nearly every electronic device, from ubiquitous smartphones and laptops to intricate automotive systems and sophisticated aerospace equipment. Their indispensable function in facilitating the seamless transmission of electrical signals within these devices is paramount. Aligned with technology’s evolution to meet the escalating demands of an increasingly interconnected and automated society, the demand for advanced PCBs remains steadfast.
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The Surge in Miniaturization of IoT Devices and Compact Electronic Gadgets Drives Printed Circuit Boards (PCBs) Market:
The growing demand for miniaturization in IoT devices and compact electronic products, encompassing wearables, IoT devices, and medical equipment, significantly bolsters the expansion of the printed circuit boards (PCBs) market.
North America Poised to Lead the Printed Circuit Boards Market with Pioneering Consumer Electronics Innovations
The dominance of the printed circuit boards market by North America is attributed to remarkable technological advancements in consumer electronics within the region. Countries like India, China, and South Korea also play a pivotal role in propelling the growth of the printed circuit boards market.
Key Insights from the Printed Circuit Boards (PCBs) Market:
- The period from 2018 to 2022 witnessed a robust demand growth in the printed circuit boards market, with a CAGR of 6.5%.
- The multi-layer segment holds a significant CAGR of 4.9% based on type.
- The standard multilayer segment within substrate types is projected to expand at a CAGR of 4.7% throughout the forecast duration.
- North America is poised to emerge as a promising printed circuit board market, with a projected CAGR of 5.1%.
- The printed circuit boards (PCBs) industry in the United Kingdom is anticipated to reach a market value of US$ 3.9 billion by 2033.
- Asia Pacific stands as an opportunistic market for printed circuit boards, expected to capture a CAGR of 5.1% during the forecast period.
- South Korea’s printed circuit industry is predicted to achieve a market revenue of US$ 5.1 billion by 2033.
Insight from an FMI Analyst:
“Growing technological innovation in manufacturing technology and increased awareness in the industrial sector are expected to drive the market in the forecast period. The increasing demand from the aerospace & defence sector globally is projected to play a vital role in strengthening the market,” according to an analyst at Future Market Insights (FMI).
Competitive Landscape:
Leading market players in the printed circuit boards (PCBs) market include Amperex Technology Ltd., Apex Microelectronics Company Limited, Amphenol Corporation, Autosplice, Inc., and Auter Electronics Ltd. Notable recent developments in the market include:
- In November 2021, Aurubis AG announced a recycling plant in Georgia, United States.
- Japan-based Nippon Mektron has been actively investing in research and development to enhance its PCB technologies, particularly for high-speed, high-frequency PCBs needed in 5G infrastructure and automotive electronics.
- Zhen Ding Technology, a prominent PCB manufacturer, specializes in advanced PCB technologies for applications like smartphones, tablets, and automotive electronics. The company has been expanding its production capacity and exploring partnerships to meet the growing demand for advanced PCBs.
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Key Segmentation:
By Type:
- Multi-Layer
- Double-Sided
- Single-Sided
By Substrate Type:
- Standard Multilayer
- HighDensity Interconnect (HDI)
- IC Substrate
- Regid 1-2 Sided
- Regid Flex
- Others
By End-Use:
- Computer & Peripherals
- Communications
- Consumer Electronic
- Industrial Electronics
- Automotive
- Aerospace & Defence
- Others
By Region:
- North American
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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