Global Printed Circuit Boards (PCBs) Market size was valued at US$ 52.12 Bn in 2019 and is expected to reach US$ 72.27 Bn by 2027 at a CAGR of 5.6 % during the forecast period of 2021-2027.
2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region.
The global Printed Circuit Boards (PCBs) market report covered insights related to new technologies, use cases, and market disruptions that are expected to lead to changes in the future revenue mix of clients. The report has covered the market by demand and supply-side by segments. The global Printed Circuit Boards (PCBs) report also provides trends by market segments, technology, and investment with a competitive landscape. The global Printed Circuit Boards (PCBs) market report also provides long-term and short-term effects of COVID-19. The keys to market growth, the future, and their contribution to the whole business are examined in the global Printed Circuit Boards (PCBs) market report.
Overview of Printed Circuit Boards (PCBs):
A printed circuit board, or PCB, is a device that uses conductive paths, tracks, or signal lines etched from copper sheets laminated onto a non-conductive substrate to mechanically support and electrically connect electronic components. Printed wire (circuit) boards are now employed in almost all commercially produced electronic devices, allowing completely automated assembly procedures that were previously impossible or impractical with tag-type circuit assembly.
The global printed circuit boards market was worth USD 52.12 billion in 2019 and is predicted to reach USD 72.27 billion by 2027, growing at a CAGR of 5.6 % over the forecast period of 2021-2027.
Global Printed Circuit Boards (PCBs) Market Dynamics:
Due to the growing demand for multi-functional systems, the PCB has become a significant factor in determining the functioning and look of high-tech smart device components. The global printed circuit board market is expected to grow due to the rising demand for electronic equipment and telecommunication devices.
The increased demand for electronic gadgets is the main driver of the global printed circuit board industry. Electronics such as cellphones, computers, and other devices have become a need for many people, and as technology progresses, people need to upgrade to the next level to keep up. PCB is used in industrial equipment such as cell towers, automated machinery, and other machines to achieve rapid operation and waste reduction/process improvement.
Due to social alienation, the demand for electronic devices has surged during the COVID-19 epidemic. Demand for smartphones, computers, and tablets has surged as a result of online classes and work from home; requirements for new medical equipment, among other things, have also increased. In addition, as the world's population grows, so does the market penetration of electronic goods, increasing demand for printed circuit boards.
Market growth is being hampered by stringent restrictions governing e-waste generated from printed circuit boards. Hazardous compounds used in printed circuit boards, including lead (Pb), epoxy resins, cadmium (Cd), and mercury (Hg) do not degrade effectively and may contribute to a considerable portion of e-waste around the world. Regulations have stifled the use of low-cost raw materials in PCB manufacturing, thus reducing the profitability of PCB manufacturers.
PCB Use in Various Industries:
Printed circuit boards serve the industrial sector considerably, particularly enterprises with production lines and manufacturing facilities. These electrical components are not only necessary for day-to-day operations, but they also enable automation, which can help organizations save money and eliminate human error. PCBs can be built specifically to handle high-power applications and the harsh environments that the industrial sector requires.
Printed circuit boards and electronics play an important role in the medical industry. They're employed not only in appliances, but also in monitoring, diagnostic, and therapy equipment. The use of PCBs in the medical field is rapidly growing as technology progresses, opening up new possibilities. In scanning equipment - X-Ray screens, ultrasonic scans, and CT scanners, and some of the other scanners all use electronic components.
Various cutting-edge vehicles have a variety of innovative electronics and electrical equipment that provide more usefulness in the current automobile sector. Circuit boards have gone a long way from the days when automobiles just had a few electronic circuits for the fundamentals, and they have various applications in this industry. For instance, vehicles are increasingly incorporating navigation technologies such as satellite navigation. PCBs are used in all of these systems. Circuit boards are used to monitor and regulate advanced car control systems such as power supply, fuel regulators, and engine management.
Global Printed Circuit Boards (PCBs) Market Segmentation:
Global Printed Circuit Boards (PCBs) Market
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Based on the type, the printed circuit boards (PCBs) market is segmented into single sided, double sided, multi-layer, and HDI. Double-sided printed circuit boards (PCBs) are widely utilized in everyday electronics and various applications. Double-sided PCBs have a conducting layer on either side, whereas single-sided PCBs only have one. On both sides, a dielectric layer is surrounded by circuit copper layers and a solder mask.
Double-sided PCBs are used by manufacturers for goods that require a beginner to advanced degree of circuit complexity. This type of PCB lacks the circuit intricacy and density of multilayer PCBs, but it serves as a cost-effective alternative in a variety of applications. ATS, Ibiden, Nippon Mektron, Sumitomo Electric, Shinko Electric, and Unimicron among others are leading vendors in the double sided PCB market. Multi-Layer PCB is expected to increase at the fastest pace of 7.1 % CAGR from 2021 to 2027, owing to developments in electromagnetic shielding and electronic design automation. PCBs are commonly utilized in automotive applications such as vehicle infotainment and audio systems, and they come in a variety of price points and uses.
The market for double-sided printed circuit boards is expected to increase fast in the Asia Pacific area. Latin America, on the other hand, is expected to grow at a moderate rate in the upcoming years. On the contrary, growth in the Middle East and Africa (MEA) is expected to be slower.
Global Printed Circuit Boards (PCBs) Market
Global Printed Circuit Boards (PCBs) Market Regional Insights:
The Asia Pacific and North American markets dominated the global printed circuit boards (PCBs) market with a fragmented supply base. With the restoration of economic activity, demand for PCB fabrication is expected to increase. It is expected to be bolstered by the simplicity with which supply chain difficulties may be resolved. Consumer and communication industries are expected to be important sources of demand. On the other hand, the amount of electronics in vehicle and medical equipment manufacturing costs is steadily increasing, resulting in increased demand for PCB.
Global Printed Circuit Boards (PCBs) Market
Asia Pacific market expeted to grow at a CAGR of xx% during the forecat period, owing to the presence of various semi-conductor manufacturers and the rising adoption of smart devices. The demand for PCBs in India has steadily increased in recent years as a result of increased investment in digitization and favorable government initiatives. The Indian PCB industry is predicted to grow rapidly over the next five years. The Indian government is heavily supporting the production and use of printed circuit boards in the country including "Make in India" and "Digital India" projects.
By easing the tax regime and lowering bureaucratic barriers, the government hopes to encourage manufacturers to set up more local plants in the country. This is predicted to result in considerable progress in a variety of end-use industries (automotive, electrical, and so on), boosting overall PCB demand.
The automotive sector, aircraft for safe navigation and precise surveillance, and the medical sector for novel medical technology, diagnostics, and devices are among PCB's high-demand sectors in North America. Furthermore, rising sales of electric vehicles, as well as the implementation of innovative driver assistance system technology in them, are expected to boost the PCB market demand.
The objective of the report is to present a comprehensive analysis of the Global Printed Circuit Boards (PCBs) Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Printed Circuit Boards (PCBs) Market dynamics, structure by analyzing the market segments and project the global Printed Circuit Boards (PCBs) market size. Clear representation of competitive analysis of key players By Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Printed Circuit Boards (PCBs) Market make the report investor’s guide.
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Global Printed Circuit Boards (PCBs) Market Scope: Inquire before buying
Global Printed Circuit Boards (PCBs) Market
Global Printed Circuit Boards (PCBs) Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Printed Circuit Boards (PCBs) Market Key Players
• Jabil Inc.
• Wurth Elektronik Group (Wurth group)
• TTM Technologies, Inc.
• Becker & Muller Schaltungsdruck GmbH
• Advanced Circuits Inc.
• Sumitomo Corporation
• Murrietta Circuits
• Unimicron Technology Corporation
• Tripod Technology Corporation
• AT&S Austria Technologie & Systemtechnik AG
• Nippon Mektron Ltd.
• Zhen Ding Technology Holding Limited
• Nan Ya PCB
• Young Poong
• SEMCO
• CMK
• Other Key Players
• Frequently Asked Questions:
1. What is the main driver of the global printed circuit boards (PCBs) market?
Ans. The increased demand for electronic gadgets is the main driver of the global printed circuit board industry. Moreover, the global printed circuit board market is expected to develop due to the rising demand for electronic equipment and telecommunication devices.
2. What is the global printed circuit boards (PCBs) market growth?
Ans. The global printed circuit boards market was worth USD 52.12 billion in 2019 and is predicted to reach USD 72.27 billion by 2027, growing at a CAGR of 5.6 % over the forecast period of 2021-2027.
3. Which segment accounted for the largest global printed circuit boards (PCBs) market share?
Ans. Asia Pacific dominated the global PCB market in market share owing to the presence of various semi-conductor manufacturers and the rising adoption of smart devices.
4. Who are the key players in the Global Printed Circuit Boards (PCBs) market?
Ans. Key players operating in the printed circuit boards (PCBs) market are Jabil Inc., Wurth Elektronik Group (Wurth group), TTM Technologies, Inc., Becker & Muller Schaltungsdruck GmbH, Advanced Circuits Inc., Sumitomo Corporation, Murrietta Circuits, Unimicron Technology Corporation, Tripod Technology Corporation, AT&S Austria Technologie & Systemtechnik AG, and others.
5. Which grooming region is expected to continue to be the dominant regional markets for players in the double-sided printed circuit board market??
Ans. Asia Pacific dominated the global PCB market in market share owing to the presence of various semi-conductor manufacturers and the rising adoption of smart devices. The market for double-sided printed circuit boards is expected to increase fast in the Asia Pacific area.
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