Pune, India, Sept. 28, 2021 (GLOBE NEWSWIRE) -- The global automotive PCB market size was USD 5.90 billion in 2020. The market is projected to grow to USD 9.96 billion in 2028 at a CAGR of 7.31% in the 2021-2028 period. The printed circuit board in automotive is an intricate circuit system that primarily can be used in cars/trucks to regulate most of the electronic functioning. Furthermore, PCBs utilized in automotive comprises printed paths, which further attach numerous constituents involving ICs, transistors, and resistors, among others. The market stood at USD 6.07 billion in 2021.
Additionally, the printed circuit board is used in numerous automotive functions such as entertainment and triangulation systems, HUD, ADAS systems, control modules, antilock brake systems. The automotive original equipment producers and electronic component producer companies are using many other progressive features and are surging their PCB use in vehicles. This report is published by Fortune Business Insights™ titled, “Automotive PCB Market, 2021-2028.” According to our researchers, this is expected to bolster the automotive PCB market growth during the forecast period.
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Drop-in Fresh Automobile Manufacturing amid COVID-19 to Obstruct Market Growth
The global outbreak of the COVID-19 pandemic has had an adverse effect on the global automotive industry. Particularly both value & supply chain companies have profoundly been bothered owing to the prompt spread of COVID-19 across the globe. This unfortunate event of the pandemic has triggered extreme insecurity in the industry and owing to which several automotive manufacturers had to suffer the negative consequences of closing their manufacturing factories and units for a specified period of time.
Likewise, Europe and the U.S. confronted production disruptions at countless tier-one dealers. The manufacturers of electronic constituents for automotive are fronting twofold challenges of deterioration in production owing to disrupted supply chain and dip in orders on account of declined consumer demand.
Report Coverage
The report provides a universal valuation of the market size and the various segments of the market. A wide-ranging study of the existing trends and impending opportunities in the market is offered in the report. It correspondingly delivers extensive analysis of the regional insights, and it plays an important role in market growth formation. The impacts of the COVID-19 pandemic have recently been added to gain clarity of the possible risks and monetary concerns that may prevail in the market. The resourceful strategies of the best players and how they navigate the market growth have conversed in the following report.
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Segmentation
On the basis of type, the market is divided into a single or double layer, multi-layer, high density interconnects (HDI), FPCB, and others. The multi-layer segment holds the principal share globally, and the HDI segment is anticipated to dominate throughout the forecast period. This multi-layer PCB type offers dual transmission and is about 50 layers thick, which is appropriate for a wide variety of intricate electrical tasks.
By application segment, the market is segregated into ADAS, body & comfort, infotainment, others. On the basis of vehicle type, the market is branched into passenger cars and commercial vehicles. In terms of region, the market is classified into North America, Europe, Asia Pacific, and the rest of the world.
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Drivers and Restraints
Consumers’ Preference towards Adoption of Electric Vehicle to Spur Growth
Gasoline fuel-type automobiles are projected to be extinct in the upcoming future. Few of the European nations such as Norway, the U.K., and the Netherlands have already confirmed to eventually decrease the production and usage of conservative vehicles. Governments across this region are inspiring the public to use electric vehicles by presenting lesser GST concessions and generating alertness to make use of eco-friendly automobiles. This is expected to form a demand for the inherent PCB market in such automotive.
Furthermore, the demand for fuel-efficient cars has augmented lately owing to the increase in rates of fuels such as petrol and diesel. The corporations are also initiating the invention of lightweight electronic apparatuses to decrease the general weight of the electric vehicle as it holds huge weight.
Regional Insights
Surging Presence of Vehicle Manufacturers to Help Asia Pacific Dominate
Asia Pacific was worth USD 2.49 billion in 2020. The region is expected to lead the market owing to the factor that the region is an automotive core and has a widespread existence of automotive PCB producers, rising number of vehicle manufacturing per annum in the nations of this region.
Europe holds the second-largest position in the market as this region is the primary implementer of the novel trends and the second-largest manufacturing heart for an electronic component across the world. Furthermore, the growing demand for electric vehicles in the countries such as Norway, Germany, the U.K., and the Netherlands, combined with chief sales of all types of automobiles and a greater acceptance rate of technologically progressive vehicles in the country, are the aspects accountable for the growth of the market in the European region.
North America holds a substantial automotive PCB market share. The U.S is responsible for contributing over 60% of shares in the North American automotive printed circuit board market. Besides, the government is dynamically participating in the expansion related to automotive components, and this is likely to endorse the growth of the global market.
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Competitive Landscape
Business Extension by Meiko Electronics to Enhance its Market Scenarios
Meiko Electronics is the global leader in PCB manufacturing that also delivers state-of-the-art products to vehicles for use, such as powertrain, protection system, ADAS, lighting system, and ITS (navigation). The corporation has established in design, production, and sales of PCBs and secondary electronics occupation.
Industry Development
February 2021: Samsung Electro-Mechanics Company altered their development tactic through MLCC online promotion through a European electronic constituent source. Samsung Electro-Mechanics intends to fortify its global marketing abilities and is primarily being executed in Germany, Spain, and Hungary via local online electronic substituents websites.
List of Key Players Covered in the Automotive PCB Market Report
- CMK Corp.
- Chin Poon Industrial
- Meiko Electronics
- Nippon Mektron
- TTM Technologies
- KCE Electronics
- Tripod Technology
- Unimicron Technology
- Kingboard Chem GRP
- Amitron Corp
Major Table of Automotive PCB Market:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Distribution of Automotive PCB Market - By Vehicle Type (in Value)
- Impact of COVID-19
- Global Automotive PCB Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Single or Double layer
- Multi-layer
- HDI
- FPCB
- Others
- Market Analysis, Insights and Forecast – By Application
- ADAS
- Body & comfort
- Infotainment
- Others
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Conrinued…
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