Growing adoption of smartphones and increased use of PCBs in connected vehicles are some of the reasons due to which this market is gaining growth.
Covid-19 Impact & Market Status
The Printed Circuit Board market size decreased due to the advent of Covid-19. This is because of less demand from majorly all the industries like consumer electronics, aerospace, healthcare etc. The demand for automotives also reduced, lockdowns were imposed which hampered the distribution network. There was panic all around and the market, generally, had a low demand.
This Printed Circuit Board Market report explores the current market, regulatory aspects, and potential opportunities, and challenges in individual market segments. The report also gives a detailed outlook of the competitive landscape.
Multi-Layer PCB have Highest market share
Printed Circuit Board Market is segmented by type into Single Sided, Double Sided, Multi-Layer, HDI. The Multi-Layer PCB had the highest market share in 2020 and is expected to have the same throughout the forecast period. This is attributed to the rise in demand of Multi-Layer PCB because of these can support high level of complexity as they are made up of three or more layers of copper laminated together.
Rigid Flex to have the highest share
The substrate segment in the PCB segment is divided into rigid, flexible and rigid-flex. Out of these, the rigid-flex segment is foreseen to occupy a sizeable share of the market within the projected timeframe because of the benefits that rigid-flex PCB provides. It has the benefits of both i.e., low cost of rigid PCB and the flexibility of flexible PCB. This is why this segment is supposed to have a large market share as it has multi use case scenarios.
Consumer Electronics to Remain Atop
The consumer electronics segment is foreseen to occupy a sizeable share of the market within the projected timeframe because of the growing demand for PCBs in electronic equipment including calculators and remote-controlled units and growing investment in R&D activities. This is primarily because of rise in usage of consumer electronics like mobiles, tablets and laptops.
Asia Pacific Region to Render Ample Investment Avenues
Asia Pacific was the largest market for the Printed Circuit Board in 2020 with a share of more than 45%. This is because of the rising demand in the automotive sector because of the massive population in the region. It is also because of the wide adoption of technology throughout that region which thereby helps in the growth of this sector. Increasing investments in the areas such as defence, automation, aerospace is another reason due to which this region is gaining importance.
The increasing demand for advanced automotive products due to a massive growth in the automotive industry is driving the growth of the Printed Circuit Board Market.
Printed Circuit Board simplifies the work of technicians and saves precious time by providing a hardware that helps in connecting systems which are built on robust and highly technical design. To develop an efficient design for connecting electric and electronic components without use of wires, Printed Circuit Board are need. Furthermore, increasing digitization is helping in the growth of Printed Circuit Board Market.
A Printed Circuit Board is a type of system that helps in connecting electronic devices by physically supporting and electronically attaching them. It helps in connecting electronic devices as well as passing on certain information because they can be programmed. An ever-increasing demand of PCBs in the automotive industries and any industry that requires use of electronics is another reason for the robust demand. These factors collectively influence the global Printed Circuit Board market, ensuring an overall market size of 76.7 billion by 2028 with an annual growth rate of 4.5% through the forecast span.
These software help in tracking signals etched from copper sheets laminated onto a non-conductive substrate to provide an enhanced design and improved efficiency. Increasing urbanization and industrialization is likely to drive the market growth, another good thing is that there is a lot of investment in the research and development by to help improve overall designs.
However, environmental concerns regarding PCBs will challenge market growth as it is made up of hazardous elements. Nevertheless, Printed Circuit Board Market has the growth prospects, because of the increasing need of highly efficient systems to reduce complexities.
The major players of this market are China Circuit Technology (Shantou) Corp., Compeq Manufacturing Co. Ltd., Ibiden Co. Ltd., Korea Zinc Co. Ltd., NOK Corp., Samsung Electro-Mechanics Co. Ltd., Sumitomo Electric Industries Ltd., TTM Technologies Inc., Unimicron Technology Corp., and Zhen Ding Technology Holding Ltd. Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Printed Circuit Board market. By applying technology, the R&D teams of the companies must try to bring in new technologies so that the overall quality of microscopes improve.
Latest Innovations in the Global Printed Circuit Board Market: A Snapshot
- MICROCHIP has launched on its official website a 300W medium-power wireless charging solution which is divided into two parts, transmitter and receiver, both of which are designed on green PCB boards.
Printed Circuit Board Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 76.7 billion|
|Growth Rate||CAGR of 4.5 % during 2021-2028|
|Segment Covered||Type, Substrate, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||China Circuit Technology (Shantou) Corp., Compeq Manufacturing Co. Ltd., Ibiden Co. Ltd., Korea Zinc Co. Ltd., NOK Corp., Samsung Electro-Mechanics Co. Ltd., Sumitomo Electric Industries Ltd., TTM Technologies Inc., Unimicron Technology Corp., and Zhen Ding Technology Holding Ltd. Product launches, acquisitions, and R&D activities|
Key Segments of the Printed Circuit Board Market
Printed Circuit Board Market on the basis of Type, 2018-2028 (USD Million)
- Single Sided
- Double Sided
Substrate Overview, 2018-2028 (USD Million)
End User Overview, 2018-2028 (USD Million)
- Industrial Electronics
- Aerospace & Defence
- IT & Telecom
- Consumer Electronics
- Other End-user Industries
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa