Pune, India, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The automotive PCB market size was valued at USD 8.84 billion in 2022 and is projected to reach a valuation of USD 9.15 billion in 2023. The market is expected to reach USD 13.39 billion by 2030 with a CAGR of 5.6% during the forecast period. Automotive PCB circuit is used in various automotive applications such as entertainment and navigation systems, HUD ADAS system control modules (engine management systems and fuel regulators), antilock brake systems, and many other advanced features. The demand for connected and electric vehicles is set to be one of the prominent trends for market growth. Fortune Business Insights™ shares this information in its report titled “Global Automotive PCB Market, 2023-2030.”
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Report Highlights:
| Report Coverage | Details | |
| Forecast Period | 2023-2030 | |
| Forecast Period 2023 to 2030 CAGR | 5.6% | |
| 2030 Value Projection | USD 13.29 Billion | |
| Base Year | 2022 | |
| Market Size in 2022 | USD 8.84 Billion | |
| Historical Data for | 2019-2021 | |
| No. of Pages | 150 | |
Drivers & Restraints-
Increasing Use of Comfort and Advanced Features in the Vehicles
Increasing use of comfort and advanced features in vehicles are anticipated to drive the automotive PCB market growth. Growing inclination toward advanced technology-based vehicles, including lightweight ones. New energy vehicles, upcoming autonomous vehicles, and connected vehicles are set to add new features such as charging, energy storage, power distribution, voltage conversion equipment, and others.
However, complex design structures, cost considerations, and supply chain challenges are expected to hamper market growth.
COVID-19 Impact-
Numerous Suppliers Experienced Bottlenecks In The Global Supply And Logistics Chains
The COVID-19 pandemic affected the automotive industry due to lockdown restrictions. Numerous suppliers experienced bottlenecks in the global supply and logistics chains in the year that negatively affected their businesses. Many PCB manufacturers faced challenges due to factory shutdowns, reduced production capacities, and logistics issues. This resulted in the delay of the supply affecting the market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/automotive-pcb-market-105577
Segments-
Passenger Cars To Lead Due To Rising Need For Safety And Comfort Among Millennials
On the basis of vehicle type, the market is divided into passenger car and commercial vehicles. The passenger cars segment dominates and is anticipated to dominate due to the rising need for safety and comfort among millennials.
Advanced Features of Multi-Layer Type Segments Drive Market Growth
Based on the type, the market is segmented into single or double-layer, Multi-layer, HDI, FPC, and others. The multi-layer segment holds the largest share globally. This multi-layer printed circuit board type offers dual transmission and is about 50 layers thick, suitable for various complicated electrical tasks.
ADAS Held a Dominant Share Due To Its Features And Implementation Of Developments
On the basis of application, the market is classified into ADAS, body & comfort, Infotainment, and others. ADAS segment holds the largest market share and is set to lead due to its features and implementation of developments. Rising levels of disposable income and inclination toward luxury features are set to drive segment growth. Based on geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage-
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights-
Asia Pacific to Lead Due To Increasing Preference for Personal Mobility
Asia Pacific dominated the automotive PCB market share owing to the increasing preference for personal mobility. The region stood at USD 4.83 billion in 2022 due to the adoption of vital government initiatives and the use of electric and autonomous vehicles.
Europe has the second-largest market share as it has been adopting new automotive PCB market trends and is the second manufacturing hub for electronic components. Rising demand for electric vehicles in countries such as Norway, Germany, the U.K., and the Netherlands is also expected to drive regional market growth.
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Competitive Landscape-
PCB Manufacturers Are Focusing On Providing Technologically Advanced Automotive Pcbs
The key market players are Meiko Electronics, Nippon Mektron, and TTM Technologies. Meiko Electronics is the leading PCB manufacturer providing state-of-the-art products in the automotive industry for powertrains, safety systems, ADAS, lighting systems, and ITS (navigation). PCB manufacturers are focusing on providing technologically advanced automotive PCBs for various vehicle customers worldwide.
List of Key Players Covered in Automotive PCB Market Report:-
- Chin Poon Industrial (Taiwan)
- Meiko Electronics (Japan)
- Nippon Mektron (Japan)
- TTM Technologies (U.S.)
- KCE Electronics (Thailand)
- Tripod Technology (Taiwan)
- Unimicron Technology (Taiwan)
- Kingboard Chem GRP (China)
- Amitron Corp (U.S.)
- CMK Corp. (Japan)
Automotive PCB Market Segmentation:-
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Type
- Single or Double layer
- Multi-layer
- HDI
- FPC
- Others
By Application
- ADAS
- Body & comfort
- Infotainment
- Others
Key Industry Development:
July 2022- Medico Electronics Co., Ltd. acquired NEC Embedded Products, Ltd. to provide customers with the best products and services.
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Table of Content:-
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Porters Five Forces Analysis
- PEST Analysis
- Technological Development
- Impact of Covid-19
- Global Automotive PCB Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Market Analysis, Insights and Forecast – By Type
- Single or Double layer
- Multi-layer
- HDI
- FPC
- Others
- Market Analysis, Insights and Forecast – By Application
- ADAS
- Body & comfort
- Infotainment
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the world
Toc Continued…
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