Automotive PCB Market Outlook
According to the report by Expert Market Research (EMR), the global automotive PCB market size reached a value of USD 9.53 billion in 2023. Aided by the automotive sector’s shift towards electrification and the integration of advanced electronic systems in vehicles, the market is projected to further grow at a CAGR of 5.6% between 2024 and 2032 to reach a value of USD 15.64 billion by 2032.
Automotive PCBs are fundamental components that facilitate the functionality of various electronic systems within vehicles, including infotainment systems, engine management systems, telematics, and advanced driver-assistance systems (ADAS). The increasing demand for electric vehicles (EVs), the push for autonomous driving technology, and the consumer expectation for enhanced in-vehicle experiences are driving the market forward.
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As per the automotive PCB market analysis, the rise of connected vehicles and the Internet of Things (IoT) in the automotive sector bolsters the demand for sophisticated PCBs, capable of handling complex computations and ensuring reliable communication between various vehicle systems. Moreover, the shift towards lightweight and compact electronic components to improve fuel efficiency and reduce emissions is propelling innovations in PCB design and materials.
The automotive PCB market is witnessing rapid technological advancements, with manufacturers focusing on developing high-density interconnect (HDI) PCBs, flexible PCBs, and rigid-flex PCBs to meet the evolving needs of the automotive sector. HDI PCBs, in particular, are gaining traction for their ability to support miniaturised electronic components, enabling more compact and efficient designs.
Another significant factor boosting the automotive PCB market growth is the increasing use of environmentally friendly materials and processes in PCB manufacturing, driven by regulatory pressures and a growing corporate commitment to sustainability. This includes the adoption of lead-free soldering and the development of recyclable PCB materials. The integration of electronic systems in vehicles is also leading to the emergence of new standards and regulations for automotive PCBs, focusing on durability, reliability, and safety. Compliance with these standards is becoming a critical factor in the competitive landscape of the market.
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Asia-Pacific occupies a substantial automotive PCB market share, due to its robust automotive manufacturing sector, particularly in China, Japan, and South Korea. The region’s rapid adoption of EVs and advanced automotive technologies further contributes to its dominant market position.
Automotive PCB Market Segmentation
The market can be divided based on type, fuel type, application, end use, and region.
Market Breakup by Type
- Single-Sided
- Double-Sided
- Multi-Layer
Market Breakup by Fuel Type
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Internal Combustion Engine Vehicles
Market Breakup by Application
- ADAS and Basic Safety
- Body, Comfort and Vehicle Lighting
- Infotainment Components
- Powertrain Components
Market Breakup by End Use
- Passenger Cars
- Commercial Vehicles
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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 global automotive PCB market. Some of the major players explored in the report by Expert Market Research are as follows:
- CMK Corporation
- Meiko Electronics Co., Ltd.
- KCE Group
- Unimicron Technology Corporation
- Zhen Ding Tech. Group
- Austria Technologie & Systemtechnik Aktiengesellschaft
- TTM Technologies Inc.
- Rayming Technology
- CHIN POON Industrial Co., Ltd.
- Amitron Corporation
- Others
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