Science and Technology

Resilient Growth in Global Printed Circuit Board Market Expected Through 2027

NEW YORK, March 4, 2024 /PRNewswire/ -- The printed circuit board (PCB) market is poised for robust expansion, with projections estimating a growth of USD 19.05 billion from 2022 to 2027. As detailed in the latest comprehensive analysis, the market is anticipated to progress at a steady compounded annual growth rate (CAGR) of 5.05% during the forecast period. This growth trajectory is influenced by a variety of factors, including the current state of the global market, emerging trends, technological advancements, and the overarching market environment.

Automation Drives Market Momentum

A significant trend catalyzing the PCB market is the rise in industry automation. With increasing numbers of desktops and machines being equipped with advanced control systems, industries are transitioning toward automation to bolster efficiency, reduce operational costs, ameliorate product quality, and enhance safety. This shift is imperative for sustaining competitive viability, as automation represents a leap in operational productivity. Despite the benefits, the widespread adoption of automation presents challenges, most notably optimizing power consumption. PCBs are increasingly becoming the solution of choice within industries due to their ability to manage power effectively while conforming to compact application sizes. Their ability to endure extreme temperatures and voltages is also a key market driver.

Download Sample Report in minutes!

Technavio has announced its latest market research report, giving insights into the global trends and growth predictions for the PCB market over the next few years.

Deep-Dive Market Analysis

With an extensive 179-page report based on the year 2022 as the base year, the documented research provides a historical analysis spanning 2017-2021, with a forecast period extending from 2023 to 2027. The data unveils a remarkable growth momentum, expecting the market to accelerate at a CAGR of 5.05% leading to a sizable market enlargement by USD 19.06 billion.

Key Market Insights at a Glance

• Forecast CAGR: Accelerate at 5.05%
• Projected Market Growth (2023-2027): USD 19.06 billion
• Market Structure: Fragmented
• Year on Year Growth: 4.25%
• Regional Analysis: APAC, North America, Europe, Middle East and Africa, South America
• Dominant Regional Contributor: APAC with 84%
• Focal Nations: US, China, Taiwan, South Korea, and Japan

Smartphone Revolution Spurs Market Demand

A transformative aspect influencing the global PCB market is the accelerated adoption of smartphones. Factors such as the widespread availability of cost-effective smartphones and the burgeoning global internet penetration are set to boost worldwide smartphone usage. Developing nations, notably India and China, are becoming hotbeds for incremental smartphone market growth owing to enhanced disposable incomes and population growth. Moreover, the technological leap from 4G LTE to more sophisticated 5G networks requires RF front-ends that consume more space within 5G smartphones. These advancements are projected to fuel the demand for PCBs and, in turn, augment market growth.

Market Hurdles: Environmental Concerns

The disposal of PCBs presents significant environmental concerns that could impede market growth. Stringent environmental regulations and the need for safe disposal methods are becoming increasingly pertinent.

Download Sample Report in minutes!

Segmentation: A Closer Look at Market Dynamics

The report delivers in-depth market segmentation analysis, taking into account various sectors including:

End-Users:

• Communication network infrastructure
• Consumer electronics
• Automotive electronics
• Military and aerospace
• Others

Products:

• 4-6 low
• Substrates
• 1-2 sided
• Flexible
• Others

Geographical Span:

• APAC
• North America
• Europe
• Middle East and Africa
• South America

Remarkably, the communication network infrastructure segment is witnessing significant market share growth, propelled by the swift 4G to 5G transitioning in the US and other developed economies fueling demand for PCBs. As indispensable components for communication network infrastructure equipment, PCBs are fundamental to the development of enterprise network equipment, wireline network equipment, subscriber equipment, and cable/multiservice operator equipment.

Spotlight on Key Players

The report features an array of industry players, each contributing to the global PCB market dynamics, including:

• Advanced Circuits Inc.
• China Circuit Technology Shantou Corp.
• Compeq Manufacturing Co. Ltd.
• Daedeok Electronics Co. Ltd.
• Dana Inc.

View Sample Report

Diverse Vendor Offerings

Key vendors provide a vast range of PCB solutions that cater to the market’s varying needs:

Samsung Electronics Co. Ltd:

The tech giant offers PCBs like the Samsung ST1000LM024 and HD753LJ.

NOK Corp:

The company presents a selection of PCBs including Single-sided FPCs, Double-sided FPCs, and Multilayer FPCs.

Shenzhen Kinwong Electronic Co. Ltd:

They supply an assortment of 2, 3, 4, and 6-layer PCBs.

Technavio's SUBSCRIPTION platform

Analyst Overview: Navigating the PCB Market Landscape

Technological revolutions in the guise of 5G, the proliferation of the Internet of Things (IoT), and Artificial Intelligence continue to redefine various industry sectors. These developments are inextricably linked to consumer electronics, the industrial internet, and various end-user industries, fueling unprecedented demand for high-performance PCBs. The surge in high-data-transfer smart devices and IoT applications, such as wearable tech, advanced cockpit instruments, and medical imaging systems, underscores the indispensable role of PCBs.

Yet, the rapid advancement in electronics surfaces challenges related to electronic waste and hazardous materials in PCBs, such as lead, mercury, cadmium, and brominated flame retardants. The industry confronts these issues with initiatives like the Circular Supply-Chain Initiative for Lead-Free Electronics, aiming to attenuate the environmental impact.

As OEMs and other industries clamor for high-caliber PCBs, suppliers are ramping up their capabilities in electronic components and PCB power solutions, thereby spurring global PCB sales and bolstering the resilience of the global economy.

The Future Scope & Market Resilience

In conclusion, the PCB market is undergoing a dynamic transformation, orchestrated by technological advancements and an increased integration of electronics into daily life. Through persistent innovation, attention to sustainability, and strategic collaborations, the PCB industry is primed for sustained growth and expansion.

View Sample Report

Exploring Related Markets

Flexibility on the Rise: The Flexible Printed Circuit Board Market

The flexible printed circuit board market size is expected to surge by USD 1.64 billion from 2021 to 2026, with a CAGR of 3.73%.

Power in Miniaturization: The North American Miniature Circuit Breaker Market

Anticipated growth at a CAGR of 5.22% between 2022 and 2027, the market size is forecasted to increase by USD 75.89 million.

Comprehensive TOC:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by End-User
7. Market Segmentation by Product
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About Technavio

Technavio is a globally recognized technology research and advisory company. Their mission is to discern emerging market trends and yield actionable insights that enable businesses to capitalize on market opportunities. With a team of over 500 specialized analysts, they boast a report archive of more than 17,000 studies spanning 800 technologies across 50 countries. Technavio's clientele includes a variety of business sizes, among which are over 100 Fortune 500 companies. Their extensive coverage, thorough research, and insightful market analyses serve as a compass for companies navigating evolving market landscapes.

Contact:

Technavio Research Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com

SOURCE: Technavio

The available information lays out a thorough picture of the projected evolution of the PCB market, delineating not only its growth prospects but also the challenges it must surmount. Resilient and innovative, the market stands on the precipice of a promising future, ever-responsive to the technological winds of change.