Indian Printed Circuit Board (PCB) Market Outlook
According to a new report by Expert Market Research titled, “Indian Printed Circuit Board (PCB) Market Size, Share, Analysis, Report and Forecast 2024-2032″, the Indian printed circuit board (PCB) market reached a value of USD 4.52 billion in 2023. Aided by the rising demand for consumer electronics and rapid urbanisation, the market is projected to further grow at a CAGR of 18.10% between 2024 and 2032 to reach a value of USD 20.17 billion by 2032.
Printed Circuit Boards (PCBs) are the cornerstone of almost all electronic devices, enabling connections between various electronic components. They offer a physical base for mounting and connecting components and are designed to provide consistent electronic performance. Given India’s surging emphasis on electronic manufacturing and the ‘Make in India’ initiative, the importance of PCBs is experiencing unprecedented attention.
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The Indian printed circuit board (PCB) market growth is fuelled by several factors. A significant push comes from the burgeoning consumer electronics industry. As smartphones, wearable devices, and home appliances become more integrated into the daily lives of Indian consumers, the demand for PCBs witnesses a parallel upsurge. The government’s push towards making India a global hub for electronic manufacturing further accelerates this growth trajectory.
One of the key Indian printed circuit board (PCB) market trends is the transition towards miniaturisation. With devices becoming smaller yet more powerful, the need for compact and efficient PCBs has skyrocketed. This transition, though demanding, offers a vast landscape of opportunities for PCB manufacturers, inviting innovations and technological advancements in design and manufacturing processes.
The automotive sector in India also significantly bolsters the Indian printed circuit board (PCB) market demand. With the advent of electric vehicles (EVs) and the integration of advanced driver assistance systems (ADAS) in modern cars, PCBs’ role has become indispensable. As India aims to become a significant player in the EV market, the demand for automotive PCBs is set to soar.
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An essential aspect highlighted in the Indian printed circuit board (PCB) market analysis is the role of research and development (R&D). With sectors like healthcare incorporating more electronics – from wearable health monitors to advanced medical equipment – the requirements for PCBs are evolving. These nuanced demands necessitate significant R&D investments to produce PCBs that cater to specific industry needs.
Indian Printed Circuit Board (PCB) Market Segmentation
The market can be divided based on manufacturing type, product type, number of layers, segment, laminate type, application, and Indian states.
Market Breakup by Manufacturing Type
- Bare PCBs
- Populated PCBs
Market Breakup by Product Type
- Rigid 1-2 Sided
- Standard Multilayer
- Flexible Circuits
- HDI/ Microvia/Build-Up
- Rigid Flex
- Others
Market Breakup by Number of Layers
- Single-Sided
- Double-Sided
- Multi-Layer
Market Breakup by Segment
- Rigid PCBs
- Flexible PCBs
Market Breakup by Laminate Type
- FR-4
- Polyamide
- CEM-1
- Paper
- Others
Market Breakup by Application
- Consumer Electronics
- Communication
- Industrial Electronics
- Computers
- Military and Aerospace
- Automotive
- Medical Instrumentation
Market Breakup by States
- Maharashtra
- Tamil Nadu
- Karnataka
- Gujarat
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Indian printed circuit board (PCB) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Epitome Components Ltd.
- Shogini Technoarts Pvt. Ltd.
- India Circuit Ltd
- Hi-Q Electronics Pvt. Ltd
- Others
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