One of the primary drivers of market growth is the increasing demand for consumer electronics and smart devices.
Fort Collins, Colorado, Feb. 21, 2024 (GLOBE NEWSWIRE) — The Printed Circuit Board (PCB) Market size was valued at USD 76.3 Billion in 2023 and is expected to reach a market size of USD 120.8 Billion by 2032 at a CAGR of 5.2%.
The electronics industry depends heavily on printed circuit boards (PCBs), the backbone of various electronic devices, including laptops, smartphones, industrial machinery, and automotive systems. The market demand for PCBs has surged due to recent trends, including artificial intelligence (AI) and machine learning algorithms in PCB design and manufacturing processes.
This trend helps improve performance, enhance reliability, and streamline production workflows. Additionally, introducing additive manufacturing techniques like 3D printing holds immense potential for revolutionizing PCB fabrication, providing greater design flexibility and shorter lead times. The emergence of 5G networks has triggered a surge in demand for high-frequency PCBs that can support the increased data transfer rates and low latency requirements of 5G-enabled devices.
PCB manufacturers are investing heavily in advanced materials and manufacturing processes to meet the stringent performance criteria of 5G infrastructure and devices, driving market growth. In addition, the worldwide shift towards electric vehicles has significantly increased demand for PCBs used in electric drivetrains, battery management systems, and onboard electronics. Governments worldwide are introducing stricter emissions regulations and incentives for electric mobility, which bodes well for the PCB market as it benefits from the trend towards electrification.
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Segmentation Overview:
The global printed circuit board (PCB) market has been segmented into type, substrate, end-user, and region. By 2023, the multi-layer PCB segment will dominate the market with superior signal integrity, reduced EMI, and improved thermal management. These PCBs have three or more layers of conductive traces and insulating substrates laminated together. They are crucial in advanced electronic systems like smartphones, tablets, and high-performance computing devices. PCBs are crucial to consumer electronic devices such as smartphones, tablets, laptops, televisions, and gaming consoles. The consumer electronics segment is the leading market for PCBs. The demand for miniaturized, high-performance PCBs with advanced features like multi-layered designs, high-density interconnects (HDI), and flexible substrates is driven by trends in portable electronics, wearable devices, and smart home appliances.
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Printed Circuit Board Market Report Highlights:
The global printed circuit board (PCB) market growth is anticipated at a CAGR of 5.2% by 2032.
PCBs are crucial components in electronic devices. With the rise of AI and machine learning, the demand for PCBs has increased, leading to improved performance and reliability. 3D printing also has the potential to revolutionize PCB fabrication, offering design flexibility and shorter lead times. The demand for high-frequency PCBs for 5G-enabled devices has surged, driving market growth. The shift towards electric vehicles has also increased demand for PCBs in electric drivetrains, battery management systems, and onboard electronics. Governments worldwide are introducing regulations and incentives for electric mobility, benefiting the PCB market.
China dominates the PCB production industry, aided by a strong electronics manufacturing ecosystem, a skilled workforce, and favorable government policies. Demand for PCBs is driven by rapid industrialization, urbanization, and the proliferation of consumer electronics, automotive, and telecommunications sectors.
Some prominent players in the printed circuit board (PCB) market report include Sumitomo Electric Industries, Nippon Mektron Ltd., Compeq Manufacturing Co. Ltd., Amphenol, ZD Tech, TTM Technologies, Inc., TE Connectivity, Unimicron Technology Corporation, Molex, AT&S, Hon Hai Precision Industry Co., Ltd., and Sumitomo Denko among others.
