New York, United States , Nov. 30, 2022 (GLOBE NEWSWIRE) -- The Global Printed Circuit Board Market Size was valued at USD 75 billion in 2021 and is predicted to surpass around USD 128 billion by 2030. The worldwide market is expected to reach at a CAGR of 5% from 2021 to 2030. as per the latest research report by Spherical Insights & Consulting. The increasing technological advancements across the automotive sector, driven by the rising emphasis on enhancing road safety, are seen as prominent factors driving the industry demand.
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The expanding usage of technology in the automotive sector and the growing emphasis on enhancing road safety are both seen as major market demand generators. Automakers from all over the world have concentrated on integrating cutting-edge electronic components in a variety of comfort and safety systems, including as lane-keeping and control systems, ADAS, and intelligent glass control systems, in order to enhance the complete driving experience. The PCB market outlook is driven by elevating seat comfort, information, and seat comfort through the integration of such cutting-edge equipment. The adoption of smart safety systems and the rapidly escalating electrification trends will also contribute to the industry's growth.
The use of PCBs in connected cars has increased the size of the PCB market. These vehicles can readily link to smartphones and other digital devices since they come equipped with both wired and wireless capabilities. With this technology, customers can monitor the health of the batteries in their electric cars, track their vehicles using their cellphones, and regulate the climate from a distance.
A significant recent development in PCB technology has shown to be heavily reliant on 3D printing. The advent of 3D-printed electronics, or 3D PEs, is expected to revolutionise the design of electrical systems in the future. These techniques layer-by-layer print a substrate material, then add a liquid ink with electrical properties on top of it to create 3D circuits. After that, surface-mount technology can be incorporated into the finished system. 3D PE has the ability to provide circuit manufacturing companies and their clients with substantial technological and manufacturing advantages over traditional 2D PCBs.
Browse key industry insights spread across 197 pages with 124 market data tables and figures & charts from the report “Global Printed Circuit Board Market Size By Type (Single Sided, Double Sided, Multi Layered, High Density Interconnect (HDI), Others), By Substrate (Rigid, Flexible, Rigid-flex), By Application (Consumer Electronics, Automotive, Healthcare IT & Telecom, Industrial, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) Analysis and Forecast 2021 – 2030”, in detail along with the table of contents.
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Covid 19 Impact on Global Printed Circuit Board Market
The COVID-19 pandemic had varied effects on the world's industries. The restrictions on international trade and migration led to an increase in supply chain bottlenecks. Additionally, the cancellation of numerous shipments from countries like China due to the declining demand for flexible PCBs had a substantial impact on the business dynamics. On the other hand, the widespread use of HDI technology and IoT devices as well as the increased emphasis on producing PCB modules, which support the stay-at-home Economy, have created new chances for industrial growth. The demand for medical electronics such as ventilators, fog generators, monitors, and respiratory support systems, which surged significantly during the crisis, will support the market's growth in the years to come.
Global Printed Circuit Board Market, By Type
The market for multi-layered printed circuit boards is expected to increase by more than 6% through 2030, making up a sizeable portion of the entire market. Multi-layer PCBs have at least three layers of conductive material buried in the middle, in contrast to double-layer PCBs. These feature a core and copper layers, making them thicker and more robust than their rivals. The increasing use of these circuit boards in numerous small pieces of electronic and medical equipment, such as computers, GPS, handheld devices, X-ray machines, heart monitors, etc., by 2030 may provide potential for firm expansion.
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Global Printed Circuit Board Market, By Substrate
The rigid PCB category made for more than 86% of the market in 2021, and it is anticipated that it would continue to grow steadily through 2030. Rigid printed circuit boards can withstand high temperatures and stresses. Due to their exceptional endurance against corrosive lubricants, UV radiation, and harsh chemicals, these are tightly integrated around the OEMs and are widely used in products like MRI systems, EMG machines, consumer electronics, and many more. The electronics industry's increasing demand for these circuit boards, which is fueled by advancements in their quality, cost-effectiveness, durability, and density, may result in significant growth for the sector.
Global Printed Circuit Board Market, By Application
Consumer electronics are expected to use printed circuit boards more frequently, which will lead to explosive market growth. The industry has a significant valuation in 2021, and it is expected to grow at a rate of roughly 4% between 2022 and 2030. The rapidly growing living standards and the upbeat outlook for the global economy have significantly increased demand for smart devices and wearables. The consumer electronics industry's increased design complexity as a result of the development of smart technologies may increase PCB sales by the end of 2030.
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Global Printed Circuit Board Market, By Region
In 2021, the Asia Pacific PCB market's revenue share exceeded 42%, and between 2022 and 2030, growth is predicted. The growth of the local industry is aided by the expansion of the industrial sector in the major Asian countries of China, Japan, and India. Due to the region's tremendous population expansion and increasing urbanisation, demand for consumer electronics, such as tablets, televisions, mobile phones, refrigerators, video game consoles, and other devices, has increased. These developments, along with the implementation of advantageous government initiatives geared toward the development of industrial firms, will aid in the expansion of business in the region.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 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, Nippon Mektron Ltd., Zhen Ding Technology Holding Limited and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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