Acumen research and consulting estimates that the global automotive PCB market is anticipated to reach market size of around US$ 15,000 Mn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027.
In terms of technical advances as well as efficiency and acquisition, the global automotive industry is making substantial strides. Consumer appetite for new technology still moves at a high pace, with the increasingly rising automobile procurement. One of the automotive components that attract both automotive and consumer attractions is the printed circuit boards (PCB). Current scenarios are strongly influenced by the increasing demand for PCBs in all vehicles segments. Moreover, electric car manufacturers emphasize more and more that their cars are integrated with PCBs although this component makes the driver easier to use with improved safety solutions.
A growing demand is anticipated to push the automotive PCB market during a predictable timeframe for additional accessories and technologies in automobiles that can be powered by more sophisticated electronic systems by the customers. In the forecast period, a growing production of both passenger and commercial vehicles would further fuel the automotive PCB industry. More radar systems such as mileage wave radar are expected to penetrate different ADAS (advant driver assistance systems) during the forecast period to boost the automotive market. Consumers increasing preference for bring your own device (BYOD) will hinder the growth of the car PCB market during the forecast. Further decline in the growth of the automobile PCB market is expected in the next few years as the PCB operations fail.
Growing Electric Vehicles Sales Driving the Market Growth
Battery electric vehicles sales at a higher CAGR over the forecast period are expected to rise among vehicle fuel groups. Due to rise in concerned about vehicle emission and increase in government efforts to boost the electric vehicle sales in the global market. For example, Norway is offering incentives such as no road tax, a duty-free trade and aggressively investing in infrastructure to support the sale and eco-drive of electric cars in the country until 2025. With growing sales and use of advanced driver assistance systems (ADAS), the automotive PCB market will likely fuel demand in the forecast period.
China, Japan, South Korea and Taiwan are part of the Asia Pacific region, where car manufacturing has increased considerably due to the availability of low labor and logistics costs. The automotive print circuit board industry in the region is expected to be driven by increased production capacity, increased digitalization and consistent investments in the automotive sector. As electrical and hybrid vehicles have increased throughout the United States and Canada, North America has become the second largest geographic segment within the global automotive PCB market. One of the major driving forces for consumer growth in Europe is growing demand for electric vehicles in Germany, the UK and France. In Latin America, Brazil is the leading market in car PCBs. In Venezuela, political turmoil, the slowdown of the Brazilian economy and natural disaster vulnerability in the Latin American region will, however, affect a market growth. In addition, as vendors expand their operating base, the MEA region is experiencing substantial growth.
Major players included in this report are CHIN-POON INDUSTRIAL CO., LTD., CMK CORPORATION, MEIKO ELECTRONICS CO., LTD., KCE ELECTRONICS PUBLIC COMPANY LIMITED, Daeduck Electronics Co., Ltd., NIPPON MEKTRON, LTD., TTM Technologies, Unimicron Germany, and others. The market for automotive PCBs is very competitive. The bug margin is highly lost because of the high regulatory standards in the automotive and its auxiliary components. The leading 5-6 vendors, however, represent the majority of the market share, creating a minor divergence. Furthermore, with increased product / service expansions, technological innovations and M&As it is anticipated that competitiveness will increase. In future, the acquisition of regional or local players is likely to increase global actors. Innovative products for competitiveness can also be developed by companies with better technical and financial resources. The vendors are also expected to build innovative innovations and be equipped to be competitively successful compared with other vendors.
The global automotive PCB market is segmented as below:
Automotive PCB Market By Type
Automotive PCB Market By Vehicle Type
Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Internal Combustion Engine (ICE) Vehicles
Automotive PCB Market By Level of Autonomous Driving
Automotive PCB Market By Application
Body and Comfort
Automotive PCB Market By End-User
Automotive PCB Market By Geography
Middle East & Africa
The market value of automotive PCB is anticipated to be around US$ 15,000 Mn in 2027.
Rising demand for more accessories and features in cars that can be powered by increasingly sophisticated electronic systems, by consumers is expected to drive the growth of the automotive PCB market.
It is anticipated to grow around 5% CAGR amid the forecast period.2020-2027
The increasing consumer preference for BYOD (Bring Your Own Device) and the approach of ECU consolidation is a major factor expected to restraint the growth of the market.
CHIN-POON INDUSTRIAL CO., LTD., CMK CORPORATION, MEIKO ELECTRONICS CO., LTD., KCE ELECTRONICS PUBLIC COMPANY LIMITED, Daeduck Electronics Co., Ltd., NIPPON MEKTRON, LTD., TTM Technologies, Unimicron Germany and others are the prominent players in the market.
North America is projected to grow at a fast pace during forecast period from 2020-2027.
Asia Pacific held maximum share in 2019.