New York, US, July 20, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive PCB Market Analysis by Type (Single-Sided, Double-Sided and Multi-Layer), By Vehicle Type (Battery Electric Vehicles, Hybrid Electric Vehicles and Internal Combustion Engine Vehicles), By End User (Passenger Car and Commercial Vehicle), By Application (ADAS, Body and Comfort, Infotainment System, Powertrain Components and Others), By Level of Autonomous Driving (Autonomous, Semi-Autonomous and Conventional) and Region - Global Forecast till 2027” valuation is poised to reach USD 9.70 Billion registering an 6% CAGR throughout the forecast period (2020–2027).
Automotive PCB Market Overview
The automotive PCB market is growing rapidly due to the rising use of electronic components in vehicles. Over recent years, the automotive industry has constantly witnessed major changes, leading to increased use of electrical & electronic components in vehicles.
Automotive PCB Market Report Scope:
| Report Metric | Details |
| Market Size by 2027 | USD 9.70 Billion |
| CAGR (2020 to 2027) | 7.5% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | At & S Austria Technologies & Systemtechnik Aktiengesellschaft, Samsung Electro-Mechanics, Unimicron Corporation, Nippon Mektron, Ltd., Meiko Electronics Co., Ltd., Tripod Technology Corporation, Daeduck Electronics Co., Ltd., TTM Technologies, KCE Group, CMK Corporation, and Chin-Poon Industrial Co., Ltd. |
| Key Market Opportunities | Increased significantly in modern vehicles |
| Key Market Drivers | Automotive PCB market Growth is mainly attributed to electric vehicle (EV) segment, surged focus on occupant safety, convenience and comfort. |
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Printed circuit boards (PCBs) have revolutionized the way vehicles have been driven and used, improving the performances of engine controls, airbag sensors, anti-lock brake management, and even GPS support. Today, almost every modern safety and convenience technology fitted in a car relies on automotive PCBs.
Automotive PCBs are designed to support each application and electronics fitted in the dashboard or under the hood. With the rising use of windshield overlays, heads-up displays, in-cab navigation systems, and other electronics to enhance safety and convenience features in a vehicle, the demand for reliable PCBs is going to continue to rise.
With the rising proliferation of smartphones, handheld devices, and the IoT, the market is projected to perceive vast traction in the years to come. Moreover, the shortage of chips across the world boosts demand for automotive PCBs. The electrical circuit market has also experienced an immense increase in recent years.
Due to rising advances and complexities in automotive circuits, other electronic devices are becoming much denser and more complex, embedded with more components. Hence, the demand for automotive PCBs is also projected to increase over the coming years.
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Automotive PCB Market Segments
The automotive PCB market report is segmented into types, vehicle types, end-users, applications, level of autonomous driving, and regions. The type segment is sub-segmented into single-sided, double-sided, and multi-layer. The vehicle type segment is sub-segmented into battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and internal combustion engine (ICE) vehicles. The end-user segment is sub-segmented into passenger cars and commercial vehicles.
The application segment is sub-segmented into ADAS, body & comfort, infotainment systems, powertrain components, and others. The level of autonomous driving segment is sub-segmented into autonomous, semi-autonomous, and conventional. The region segment is bifurcated into the Americas, APAC, MEA, Europe, and the Rest-of-the-World.
Automotive PCB Market Regional Analysis
The Asia Pacific region leads the global automotive PCB market. The region houses a number of innovative technologies and semiconductor developers. Besides, the well-established automotive industry witnessing rising production and sales creates significant market demand. The spurring rise in electronics used in vehicles substantiates the demand for automotive PCBs in the region.
Rapid developments in automotive safety and comfort features and the uptake of advanced technologies, alongside increasing investments in developing automotive PCBs, drive the regional market growth. Moreover, the strong presence of major PCB developers and manufacturing companies foster the region's market share.
Europe stands second in terms of automotive PCB market value. The large presence of major automotive manufacturers such as BMW, Aston Martin, Jaguar, and Mercedes Benz contribute to the European automotive PCB market growth. Additional factors such as stringent regulations and increasing demand for environment-friendly vehicles boost the automotive PCB market revenue.
North America witnessed a spurring rise in the automotive PCB market value. Factors providing impetus to market growth include advances in automotive technologies and electronics. Furthermore, the proliferation of EVs and the presence of key industry players act as a major tailwind for the region's market growth. The North American automotive PCB market is expected to grow significantly over the forecast period.
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Industry Trends
Electronic components play an important role in enhancing automotive safety and comfort. Today, most vehicles contain various electronic control units, and in the case of top-level vehicles, there are more than 180 electronic control units in the cockpit, including sensors and processors. It can be concluded that the value of automotive electronics lies in dynamic systems and body & chassis, while a majority of them are associated with digital power.
The application of automotive electronic systems helps increase vehicle performance, fuel-saving, comfort, and security. Over recent years, electric vehicles (EVs) have become a strategic direction for the automotive industry. Safety features reduce traffic accidents and damages, facilitating radar & infrared monitoring, stereo camera, airbags, and automatic avoidance of road obstacles.
Currently, autonomous vehicles are garnering a lot of attention and investments. As the backbone of electronic devices, automotive PCBs meet a range of vehicle convenience and comfort requirements, generally rooted in audio, video display, computer, air-conditioner, mobile communication & internet, navigation, electronic toll collection, and other convenience and humanization considerations.
Automotive PCB Market Competitive Analysis
Dominant Key Players on Automotive PCB Market Covered are:
- At & S Austria Technologies & Systemtechnik Aktiengesellschaft
- Samsung Electro-Mechanics
- Unimicron Corporation
- Nippon Mektron Ltd.
- Meiko Electronics Co. Ltd.
- Tripod Technology Corporation
- Daeduck Electronics Co. Ltd.
- TTM Technologies
- KCE Group
- CMK Corporation
- Chin-Poon Industrial Co. Ltd.
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Highly competitive, the automotive PCB market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain key trends for the leading players as these strategies support their growth and expansion plans.
For instance, on Jan. 10, 2022, CADY, an Israel-based technology company, announced raising US$3 million to develop automated PCB inspection solutions. CADY uses AI to develop automatic inspection tools that help detect errors in PCB developments at early stages. Early error detection helps shorten the design process and reduce spending and the time to market while improving the products' quality & reliability.
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