The global printed circuit boards market is on a trajectory to attain a valuation of US$ 60.2 billion in 2022, with sustained demand anticipated throughout the assessment period. This robust demand is rooted in the rapid evolution of technology and the exponential growth of consumer electronics. By 2033, the market is projected to achieve a substantial value of US$ 104.8 billion, driven by a notable Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2033. Anticipated revenues for the year 2023 stand at US$ 63.5 billion.
The relentless progress in consumer electronics, encompassing smartphones, tablets, gaming consoles, and smart home devices, serves as a pivotal driver behind the printed circuit boards (PCBs) market. The escalating need for compact yet high-performance PCBs further amplifies the market’s expansion.
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.
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
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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