Automotive PCB Global Market Report 2024

The automotive pcb market size has grown strongly in recent years. It will grow from $9.49 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be attributed to increased electronic content in vehicles, the development of autonomous and semi-autonomous driving technologies, efforts towards efficiency and weight reduction, a demand for advanced infotainment systems, the globalization of automotive supply chains, and a focus on research and development (R&D) and innovation.

The automotive pcb market size is expected to see strong growth in the next few years. It will grow to $14.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. Projected growth is driven by the increasing complexity of ADAS, digital cockpit evolution, V2X communication, demand for compact electronics, shift to advanced materials, and supply chain resilience. Key trends include advancements in autonomous driving, smart manufacturing (Industry 4.0), miniaturization and integration, flexible and rigid-flex PCBs, and integration of AI and machine learning.

The automotive PCB market is expected to experience significant growth due to the increasing demand for hybrid electric vehicles (HEVs) and battery-operated electric vehicles (EVs). Printed Circuit Boards (PCBs) play a crucial role in the automotive industry, facilitating the functionality of sensors and other components in vehicles. The surge in sales of electric vehicles and battery-operated electric vehicles is a key driver for the growing demand for automotive PCBs. According to a study by JP Morgan, it is anticipated that by 2025, electric vehicles (EVs) and hybrid electric vehicles (HEVs) will contribute to approximately 30% of all vehicle sales. Consequently, the heightened demand for hybrid and battery-operated electric vehicles is a major factor propelling the expansion of the automotive PCB market.

The growth of the automotive PCB market is anticipated to be propelled by the increasing demand for autonomous driving. Autonomous driving refers to vehicles capable of operating without human intervention, and it relies on various vehicle functions controlled and managed by automotive Printed Circuit Boards (PCBs). These PCBs play a crucial role in overseeing functions such as sensors, processors, and communication systems, providing the required reliability and precision in electronic control for autonomous driving systems. A report from the UK's Department of Transport in August 2022 indicated that approximately 40% of newly purchased cars in the UK might incorporate self-driving capabilities. This projection suggests that the connected and automated vehicles (CAV) market could reach a value of $53.01 billion (£41.7 billion) by 2035. Consequently, the increasing demand for autonomous driving is a significant factor contributing to the growth of the automotive PCB market.

The increasing adoption of Advanced Driver Assistance Systems (ADAS) stands out as a prominent trend in the automotive PCB market. The utilization of Printed Circuit Boards (PCBs) in ADAS systems is anticipated to experience substantial growth, prompting companies to enhance the production capacity of automotive PCBs to meet the escalating demand for ADAS technologies. As an illustration, in 2021, Meiko Electronics, a PCB manufacturer based in Japan, revealed its intentions to establish new PCB manufacturing facilities in Vietnam and Japan. This strategic move aimed to augment its production capacity for PCB products, driven by the growing demand for ADAS and Electric Vehicle (EV) applications.

Major players in the automotive PCB market are prioritizing the development of advanced heterogeneous integrated solutions to address the growing demand for improved connectivity, performance, and reliability in vehicle electronics. These advanced solutions involve the integration of diverse technologies and components into a cohesive system, enhancing overall performance, connectivity, and reliability across different applications. An example of such innovation is evident in the launch of iNPACK by PCB Technologies Ltd., a US-based company specializing in printed circuits and assembled electronic devices. Introduced in June 2022, iNPACK represents an advanced form of heterogeneous integration that emphasizes cutting-edge technology to boost signal integrity and minimize undesired inductance impacts. By incorporating powerful components for expanded functionality and leveraging embedded coins for efficient heat dissipation, iNPACK offers a range of solutions, including System in Package (SiP), semiconductor packaging, organic substrates with 25-micron lines and spacing, as well as 3D, 2.5D, and 2D packaging solutions. Its applications extend across demanding sectors such as aerospace, defense, medical, consumer electronics, automotive, energy, and communications.

In May 2022, Summit Interconnect Inc., a prominent US-based manufacturer specializing in advanced technology printed circuit boards (PCBs), successfully acquired Royal Circuit Solutions for an undisclosed amount. This strategic acquisition significantly expands Summit's portfolio of PCB offerings, now including rigid, flex, rigid and flex, and ATE PCBs. Importantly, the acquisition enhances Summit's engineering capabilities and service provisions, encompassing CAM (Computer-Aided Manufacturing), DFM/A (Design for Manufacturability and Assembly), as well as PCB design and layout. Royal Circuit Solutions, based in the United States, is recognized for its expertise in manufacturing advanced-technology prototype printed circuit boards.

Major companies operating in the automotive pcb market report are Tripod Technologies, Flex Ltd., Murata Manufacturing Co. Ltd., Samsung Electro-Mechanics Co. Ltd., Delphi Technologies, Zhen Ding Technology Holding Limited, Kingboard Holdings Limited, Unimicron Corporation, Compeq Manufacturing Co. Ltd., Shinko Electric Industries Co. Ltd., TTM Technologies Inc., Nan Ya Printed Circuit Board Corporation, AT & S Austria Technologies & Systemtechnik Aktiengesellschaft, SIIX Corporation, Shenzhen Kinwong Electronic Co. Ltd., Meiko Electronics Co. Ltd., Rogers Corporation, Shenzhen Fastprint Circuit Tech Co. Ltd., Daeduck Electronics, Aoshikang Technology Co. Ltd., Chin Poon Industrial Co. Ltd., KCE Electronics Co. Ltd., CMK Corporation, Ventec International Group, WUS Printed Circuit Co. Ltd., MFS Technology Ltd., Amitron Corp, Dynamic Electronics Co. Ltd., Nanotron Technologies GmbH, Nippon Mektron Ltd., Dyna Image Corporation, Shenzhen Sunnic Technology & Co. Ltd., Jiangsu Changjiang Electronics Technology Co. Ltd.

Asia-Pacific was the largest region in the automotive PCB market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive pcb market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive pcb market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

This report covers the primary types of automotive PCBs such as double-sided PCBs, multi-layer PCBs, and single-sided PCBs. These PCB variants find application across vehicle types, including Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Internal Combustion Engine (ICE) vehicles. Automotive PCBs serve major applications in Advanced Driver Assistance Systems (ADAS) and basic safety features, body and comfort systems, vehicle lighting, infotainment components, and powertrain components. The end-users of automotive PCBs encompass economic light-duty vehicles, luxury light-duty vehicles, and mid-priced light-duty vehicles.

The automotive PCB research report is one of a series of new reports that provides automotive PCB market statistics, including automotive PCB industry global market size, regional shares, competitors with automotive PCB market share, detailed automotive PCB market segments, market trends and opportunities, and any further data you may need to thrive in the automotive PCB industry. This automotive PCB market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive PCB market consists of sales flex PCB, rigid PCB, HDI PCB’S, LED PCB. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.