According to a market report by RationalStat, the Global Printed Circuit Boards Market is estimated to be valued at US$81.2 billion in 2023 and is projected to grow at a strong CAGR of over 4.1% during the forecast period of 2023-2030. The usage of electronic components in industries such as automotive has increased the demand for Printed Circuit Boards (PCBs).
PCBs are critical components in electronic devices as they provide a foundation for the integration of electronic components. They mechanically support and electrically connect electronic components by etching conductive paths on a non-conductive substrate. PCBs serve as platforms for the construction and connection of various electronic components such as resistors, capacitors, integrated circuits, and connectors.
The automotive segment is anticipated to dominate the global Printed Circuit Boards market with a CAGR of 5%. The demand for PCBs in applications such as vehicle control systems, infotainment systems, and electric vehicle components is expected to drive market growth.
RationalStat has analyzed the global Printed Circuit Boards market based on market segments, including type, application, and geography/regions. The report provides market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. It covers market value and volume analysis, customer sentiments, price points, cost structures, margin analysis, financial assessments, key developments, import-export data, trade overview, and more.
Leading players in the Printed Circuit Boards market include Jabil Inc., Wurth elektronik group, TTM Technologies Inc, Becker & Muller Circuit Printing GmbH, Advanced Circuits Inc., Sumitomo Electric Industries Ltd, Murrietta Circuits, Unimicron Technology Corporation, Tripod Technology Corporation, and AT&S Austria Technologie & Systemtechnik AG, among others.
The market is segmented based on type (single sided, double sided, multi-layer, HDI), application (industrial electronics, healthcare, aerospace & defense, automotive, IT & telecom, others), and region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa). Asia Pacific is expected to be the dominant region in the Printed Circuit Boards market.
Some of the key trends in the market include growing adoption of IoT and continuous advancements in technology. Companies in the market adopt strategies such as mergers & acquisitions, partnerships, and product launches to strengthen their market share. For example, Wurth Elektronik Circuit Board Technology Group announced the establishment of Wurth Elektronik CBT International GmbH to improve its position in international markets.
RationalStat offers a range of market intelligence and consulting services and has developed a research methodology combining secondary sources and primary research to provide accurate market insights. The company has sales offices in India, Mexico, and the US, and works with strategic partners for additional services.
Overall, the Global Printed Circuit Boards Market is projected to witness significant growth in the coming years, driven by factors such as the increasing usage of electronic components in various industries and ongoing technological advancements.