USD 69.31 billion
Report ID: SQSG45K2010 | Region: Global | Published Date: December, 2022 | Pages: 165
Global Printed Circuit Board Market was valued at USD 69.31 billion in 2021, and it is expected to attain a value of USD 91.87 billion by 2028 with a CAGR of 4.65% over the forecast period (2022-2028).
A battery, resistors, transistors, LEDs, inductors, capacitors, and other electronic components are all connected by printed circuit boards, which also offer mechanical support. Printed wiring board (PWB) and printed wiring cards are additional names for PCB (PWC). Most frequently, materials like fiberglass, composite epoxy, or other composite materials are used to make them. Although they come in a wide range of types, rigid-flex PCBs and flexible circuits are the most frequently used PCBs in electronic circuits. Smart devices and rising consumer demand for consumer electronics are the main drivers of market expansion. Additionally, the market is being driven by factors like rising consumer spending, a rise in demand from emerging economies, and an increase in demand for eco-friendly PCBs as a result of an increase in electronic waste.
The market is expanding as a result of rising government support for sustainability initiatives and environmental protection, as well as rising demand for digitalization in developing nations. Modern PCB designs maximize utilization and reduce costs, which includes base material replacement. The booming demand for digital goods and equipment, the expansion of the healthcare device market, the rising demand for double-sided PCB, and the sharp increase in demand for high-tech features in the automotive sector are just a few of the factors driving the PCB market's expansion.
Global Market Size
USD 69.31 billion
IT & Telecommunication
IT & Telecommunication
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The global printed circuit board market is segmented based on type, substrate, end-user, product, laminate materials, raw material, application, and regions. Based on type the market is further sub segmented into single-sided, double-sided, multi-layer, High Density Interconnect (HDI) and other segments. On the basis of substrate, the market can be bifurcated into rigid, flexible, rigid-flex segments. Based on end-users the market can be segregated into IT & telecommunication, consumer electronics, industrial electronics, automotive, aerospace and defense and others sub segments. Based on product, the market is segmented into Rigid PCBs, Standard multilayer, HDI/build-up/microtia, Flexible circuits, IC substrate, Others. Based on laminate materials, the market is segmented into FR-4, FR-4 high Tg, FR-4 halogen free, Standard & Others, Flexible (PI,PET), Paper, Composites, Others. Based on raw material, the market is segmented into Glass fabric, epoxy resin, kraft paper, phenolic resin, and polyimide film. Based on application, the market is segmented into Industrial electronics, aerospace & defense, IT & telecom, automotive, consumer electronics, and others. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Analysis by End-User
Industrial electronics segment dominated the market and is predicted to grow with a substantial CAGR within the forecast period. Additionally, the industry has grown due to the high demand for consumer electronics like smartphones. Three-dimensional electronic products are expected to revolutionize the design of electrical systems in the future. These systems build three-dimensional PCBs by building up layers of a substrate material and then adding a functional ink on top. After that, producers put surface-mounting methods to use to create a full system. Particularly when compared to two-dimensional circuit boards, three-dimensional printed electronics may be able to provide PCB manufacturers and consumers with significant production and technical advantages.
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The market is dominated by North America due to the region's thriving consumer electronics industry, increasing use of IoT-based applications, and rising usage in the automotive sector. One prominent international manufacturer of printed circuit boards, TTM Technologies, Inc., had, for instance, announced the opening of a new Engineering Center in New York. Due to China's larger market share and the region's greater feasibility as a manufacturing base for key electronic and communication components, Asia Pacific is predicted to hold the second-largest position in the global market. Additionally increasing their investments in the electronics sector are nations from the Middle East and Africa, which contributes to the market's expansion.
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In coming years, a number of companies will try to deploy their partnerships and collaborations as the market is still in its early stages. However, the market consists of a large number of medium and small-scale manufacturers.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global printed circuit board market is segmented based on type, substrate, end-user and regions. Industrial electronics segment dominated the market and is predicted to grow with a substantial CAGR within the forecast period. Additionally, the industry has grown due to the high demand for consumer electronics like smartphones. Three-dimensional electronic products are expected to revolutionize the design of electrical systems in the future. The market is dominated by North America due to the region's thriving consumer electronics industry, increasing use of IoT-based applications, and rising usage in the automotive sector.
|Market size value in 2021||USD 69.31 billion|
|Market size value in 2028||USD 91.87 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Printed Circuit Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Printed Circuit Board Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG45K2010