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Printed Circuit Boards (PCBs) - Global Market Trajectory & Analytics

  • PDF Icon

    Report

  • 441 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1206723

FEATURED COMPANIES

  • Advanced Circuits
  • AP Circuits
  • Benchmark Electronics
  • Ibiden Co. Ltd.
  • Jabil Inc.
  • Murrietta Circuits

Global Printed Circuit Boards (PCBs) Market to Reach $72.7 Billion by 2026


A printed circuit board (PCB) refers to a board structure, which is made from a flat sheet of insulating material and serve as a foundation for most electronic products, both for providing physical support as well as wiring area for different socketed and surface-mounted components, including integrated circuits, transistors, and resistors. The most common materials used for manufacturing PCBs include composite epoxy or fiberglass. Amid the COVID-19 crisis, the global market for Printed Circuit Boards (PCBs) estimated at US$60.2 Billion in the year 2022, is projected to reach a revised size of US$72.7 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Multi-Layer Printed PCB, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$49.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Double-Sided Printed PCB segment is readjusted to a revised 3.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.7 Billion in 2022, While China is Forecast to Reach $18.6 Billion by 2026


The Printed Circuit Boards (PCBs) market in the U.S. is estimated at US$6.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$18.6 Billion by the year 2026 trailing a CAGR of 5.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. The emerging wave of electronification that will sweep through the enterprise, healthcare/medical, manufacturing, and process industries will bring with it a goldmine of opportunities for electronic components and semiconductors including PCBs. A special focus on electronic wearables which are growing in prominence in the wake of the rise of telemedicine shows a strong demand pattern for flex PCBs and Rigid-flex PCBs which are commonly used in wearables for medical and fitness applications. The flex PCB segment is anticipated to gain from increasing adoption of wearable devices among diabetic patients along with continuing advances in the field of flexible electronics, indicating notable scope of adoption for these PCBs.

Single-Sided Printed PCB Segment to Reach $10 Billion by 2026


In the global Single-Sided Printed PCB segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.9 Billion will reach a projected size of US$6.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026.

Integration of Artificial Intelligence Into PCB Design & Production Comes of Age


PCBs are a critical foundational component in consumer-level electronic products. A PCB contains conductive tracks and pads that electronically connect different components together. Therefore, they need to be manufactured to the highest quality. The proliferation of PCBs in a wide range of applications, sheds focus on stringent requirements of design and quality assurance that ensure electromagnetic compatibility and efficient performance of electronic gadgets. Consumers demand for thinner, faster and more streamlined devices exerts pressure on high-performing PCBs. With growing miniaturization of electronic devices, PCB design faces increasing complexities in ensuring the optimum use of available space and effective component placement without the risk of failure. PCBs evolved from large printed wiring boards to today`s high-density interconnect (HDI) PCBs. In addition to the technology, the manufacturing processes also witnessed transformation from manual assembly to highly automated production. As manufacturing processes become more complex and sophisticated, artificial intelligence (AI) presents significant opportunities in PCB manufacturing.

The complex design and extremely exacting manufacturing specifications pose significant challenges to PCB manufactures. Most PCB designers manually route and design their boards, which is a time-consuming and intricate process. Such designs are prone to human limitations, including error and fatigue. Also, error-prone designs undergo repeat testing, leading to high costs. AI has the potential to optimize production processes and avoid error-prone designs. Modular AI platforms can help simplify as well as optimize the design and testing processes of PCBs. It can also reduce the requisite outlay by around 20%. The AI platform leverages machine learning, deep learning, and algorithms to perform different tasks and can be trained to undertake design of new PCBs. Algorithms harness operational data using machine learning technology to enhance their own performance. Deep gaining knowledge enhances the complexity of these self-learning algorithms. The AI platform can help predict the optimum configuration that offers the best functionality. This in turn reduces the costs associated with lengthy procedure of trial and error. Operator errors or mistakes related to identification of PCB defects can negatively impact yield. AI is associated with greater degrees of automation in manufacturing lines. By leveraging AI in the production process, machines can perform learned tasks while human operators continue to perform complex tasks. The combination of AI and human intervention improves operational efficiency. The introduction of AI into PCB manufacturing is especially critical with the advent of Industry 4.0. As PCBs shrink in line with miniaturization of devices, AI will offer a higher degree of accuracy when placing components in a compact and densely packed part.

Select Competitors (Total 225 Featured):

  • Jabil Inc.
  • Plexus Corp.
  • TTM Technologies, Inc.
  • Benchmark Electronics
  • Advanced Circuits
  • Murrietta Circuits
  • SigmaTron International, Inc.
  • AP Circuits
  • Compeq Manufacturing Co. Ltd.
  • Ibiden Co. Ltd.
  • Unimicron Technology Corp.
  • Tripod Technology Corp.
  • Zhen Ding Technology Holding Ltd.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • Advanced Circuits
  • AP Circuits
  • Benchmark Electronics
  • Ibiden Co. Ltd.
  • Jabil Inc.
  • Murrietta Circuits

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • What are PCBs, Where are they Used & Why are they the Backbone of Electronics?
  • PCBs Are a Key Part of the Electronics Value Chain. COVID-19 Exposes the Risk of Value Chain Modularity
  • COVID-19 Emerges as a Black Swan Event for the Electronics Industry
  • Among the Hammered Companies in the Supply Chain is the “Semiconductor Industry”
  • Measuring the Impact of COVID-19 On the Semiconductor Industry in Terms of Disruption & Time to Recovery (In Months) as of May 2020
  • Supply Chain Disruptions Impact a Large Number of Electronic Manufacturers: % Share of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of May 2020
  • Falling Consumer Confidence Impacts Retail Sales of Consumer & Automotive Electronics
  • Rapidly Eroding Consumer Confidence Thwarts Hopes for a Quick Recovery: Global Consumer Confidence Index Points for 4Q2019, 1Q2020 & 2Q2020
  • Shrinking Disposable Incomes Take its Toll on Consumer Demand for Electronics: Global 1Q Sell-In Shipments of Electronic Products Estimated in Jan-2020 Vs March 2020 (In Million Units)
  • Deteriorating Business Confidence & Virus Led Economic Recession Impacts Prospects for Industrial Electronics
  • Virus Led Recession Frustrates Recovery of Upstream & Downstream Markets in the Electronics Industry: Global GDP Growth (In %) for the Years 2019, 2020 & 2021
  • Manufacturing Industry Bites the Dust Severing All Planned Digital & Electronic Plant Upgrade Investments: Global Manufacturing PMI Index Score January 2020 to May 2020
  • It’s a Bumpy Road to Recovery as Loosening Up of Restrictions Triggers a Second Wave of Infections
  • Rising Global Infections Dampen Sentiment & Keep Businesses on Tenterhooks: Global Number of COVID-19 Infections Per Day in the Month of June 2020
  • Despite Moves to Reopen the Economy, Battered Business Confidence Plummets to New Depths: Business Confidence Index (BCI) Points
  • Printed Circuit Boards (PCBs) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Recent Market Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Digital Transformation Catalyzed by the Pandemic Provides the Perfect Platform for Growth in the Post COVID-19 Period.
  • The Scenario Bodes Well for All Things Electronic & Digital. Special Focus on PCBs for Electronic Wearables
  • It’s Not CIOs or CFOs, its COVID-19 Leading Digital Transformation Globally: Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
  • Post COVID-19 As Technology Steps Forward to Help With Social Distancing, Renewed Focus Will Be Shed on Industrial Automation
  • As a Lesson Learnt in Social Distancing from the COVID-19 Pandemic, Use of Industrial Robots to Spike in the Post COVID-19 Period: Industrial Robot Density (Units Per 10,000 Workers) for the Years 2019 & 2023
  • As Telemedicine Storms into the Spotlight in the Post COVID-19 Period, Medical Wearables to Offer Opportunities for Rigid-flex PCBs
  • COVID-19 Pandemic Catalyzes Migration to New Models of Remote Care Delivery & Boosts Importance of Electronics Subsystems Supporting Smart Wearables: Global Number of Telemedicine Patients (In Million) for the Years 2016, 2018, 2020, 2023 & 2025
  • A Return to Economic Normalcy Will Reignite Growth Drivers in the Consumer Electronics End-Use Sector
  • Smart Homes Emerge as a Disruptive Trend Enhancing Lives of Homeowners & Also Creating New Market Opportunities Players in the Electronics Value Chain: Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
  • The Coming Era of Electronification of Medical Devices to Bring Attractive Opportunities for Medical PCBs
  • A 47.1% Increase in Growth in the Post COVID-19 Period for the Medical Devices Industry Encourages an Optimistic Outlook for Medical PCBs: Global Medical Devices Industry (In US$ Billion) for the Years 2000, 2023 & 2025
  • PCBs are the Core of IoT Devices. Disruptions Caused by the Pandemic & the Push for Connected Tech to Benefit Market Growth
  • A Review of the IoT Opportunity for Flex and HDI PCBs
  • IoT to Take a Quantum Leap With the Pandemic Highlighting the Importance of Remote Operations in Ensuring Business Resiliency: Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
  • Coronavirus Outbreak Makes Driverless Cars Attractive. Autonomous Cars Hold Robust Potential for Growth of PCBs in the Post COVID Period
  • Non-Contact Deliveries Made Popular by the Pandemic Will Ready the PCB Market for the Coming Age of Drones
  • What Does this Mean for PCB Designers and Manufacturers?
  • In the “Touch-Me-Not” Environment to Follow in the Post Pandemic Period, Use of Drones Will Rise to New Highs: Number of Countries Worldwide Using Drones/UAVs by Type 2019 & 2025
  • As Post Pandemic Economic Rebuilding Efforts Get Underway, Focus on Pandemic Ready Smart Cities Will Create a Hotbed of Opportunities for PCBs
  • Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for Electronic Technologies: Global Smart City Spending (In US$ Billion) for the Years 2021, 2023 & 2025
  • It’s a Slower & Longer Road to Recovery for PCBs Used in Defense & Avionics
  • With the Aviation Industry on the Brink of Annihilation, Pre-Pandemic Digitalization Plans Will Take a Long Time to Witness a Return to Implementation: Expected Revenue Losses in Global Aviation (In US$ Billion)
  • Massive Employment Losses in Tourism Highlights How Far the Aviation Industry is from Making a Meaningful Recovery: Employment Losses in Tourism (In Million) by End of 2020
  • Integration of Artificial Intelligence Into PCB Design & Production Comes of Age
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Semiconductor Industry in the U.S.
CANADA
JAPAN
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Semiconductor Industry in Japan
CHINA
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
REST OF EUROPE
ASIA-PACIFIC
  • Printed Circuit Boards (PCBs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
SOUTH KOREA
TAIWAN
  • Taiwan, a Semiconductor Behemoth
REST OF ASIA-PACIFICREST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 225

A selection of companies mentioned in this report includes:

  • Jabil Inc.
  • Plexus Corp.
  • TTM Technologies, Inc.
  • Benchmark Electronics
  • Advanced Circuits
  • Murrietta Circuits
  • SigmaTron International, Inc.
  • AP Circuits
  • Compeq Manufacturing Co. Ltd.
  • Ibiden Co. Ltd.
  • Unimicron Technology Corp.
  • Tripod Technology Corp.
  • Zhen Ding Technology Holding Ltd.