Press release
Automotive PCB Market By Top Key Players – CMK Corp., Chin Poon Industrial, Meiko Electronics, Nippon Mektron, TTM Technologies, KCE Electronics Market Research Forecast 2028
Automotive PCB Market Forecast 2021-2028
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Market Overview:
The global automotive PCB market size was USD 5.90 billion in 2020. The market is projected to grow to USD 9.96 billion in 2028 from USD 6.07 billion in 2021 at a CAGR of 7.31% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Automotive PCB Market, 2021-2028.” According to our researchers, the principal automotive PCB manufacturing companies are utilizing flexi-rigid, HDI kind of PCB for numerous uses on account of their capability to endure an extreme temperature fluctuation and undergo vibrations.
Additionally, the corporations functioning in the automotive printed circuit board industry are also actively stepping up by presenting novel products, expansions and implementing fresh tactics to magnify their product portfolio pooled with their business evolution. Consequently, the market is anticipated to attain admiration in the approaching years. This is also expected to bolster the automotive PCB market growth during the forecast period.
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Deterioration in New Vehicle Production Batch during COVID-19 to Impede Growth
The global outbreak of the COVID-19 pandemic has had an adverse effect on the global automotive industry. Particularly both value & supply chain companies have profoundly been bothered owing to the prompt spread of COVID-19 across the globe. The players in this industry have reported several inconveniences owing to the lockdown impositions, which in turn have resulted in disrupted logistic services. Additionally, the interruption in the delivery of raw materials that are essential for PCB manufacturing for short tenure economically obstructed electronic companies.
Also, inadequate part supply, non-proficient manufacturing during the lockdown, a decreased labor force, deteriorating liquidity, and several other aspects have led OEMs to close their production units. For example, global automotive light vehicles (LV) deals have plummeted by 20% during 2019-2020, and worldwide EV sales reduced by 18% in 2020. Likewise, general EV registering for the year 2021 in comparison with 2020 deteriorated by 20%.
Report Coverage
The report presents a holistic study of the automotive PCB market along with present trends and forthcoming anticipations to declare approximate monetary gains. An in-depth analysis of any impending prospects, threats, competitions, or driving factors is also revealed in the report. Furthermore, a thorough regional analysis is offered for better comprehension of its effect on global trade. The COVID-19 impacts have been added to the report to aid stakeholders and business owners in taking prompt actions against the prevailing threats. The best players in the market are acknowledged, and their plans to augment the market growth are displayed throughout the report.
Segmentation
On the basis of type, the global market is separated into a single or double layer, multi-layer, high density interconnects (HDI), FPCB, and others. The multi-layer segment holds the principal share globally, and the HDI segment is anticipated to dominate throughout the forecast period. This multi-layer PCB type offers dual transmission and is about 50 layers thick, which is appropriate for a wide variety of intricate electrical tasks.
By application segment, the market is segregated into ADAAS, body & comfort, infotainment, others. On the basis of vehicle type, the market is branched into passenger cars and commercial vehicles. In terms of region, the market is classified into North America, Europe, Asia Pacific, and the rest of the world.
Drivers and Restraints
Surging Use of Innovative & Luxury Features in Automobiles to Stimulate Market Growth
The rising preference towards advanced technology-based and lightweight automobiles is expected to be the navigating influence for the growth of the market. As a pillar of support of electronic apparatuses in the vehicle, PCB producers are also adapting to the fresh shifting setting and financing profoundly to well-suit the regularity that shall support the improved features and luxury features that may be used in automobiles in the near future.
Besides, the innovative energy vehicles, associated vehicles, and forthcoming autonomous vehicles are projected to enhance several novel features to the charging, energy-storing, power supply, and voltage transformation equipment, among others. Also, the present demand for the security features such as evading accident systems, pedestrian safety systems, lane parting cautionary, and telematics keys has witnessed obvious and significant growth.
Regional Insights
Asia Pacific to Lead Backed by Presence of Numerous Automakers
Asia Pacific was worth USD 2.49 billion in 2020. The region is expected to lead the global market owing to the factor that the region is an automotive core and has a widespread existence of automotive PCB producers, rising number of vehicle manufacturing per annum in the nations of this region.
Europe holds the second-largest position in the market as this region is the primary implementer of the novel trends and the second-largest manufacturing heart for electronic components across the world. Furthermore, the growing demand for electric vehicles in the countries such as Norway, Germany, the U.K., and the Netherlands, combined with chief sales of all types of automobiles and the greater acceptance rate of technologically progressive vehicles in the country, are the aspects accountable for the growth of the market in the European region.
North America holds a substantial share in the market. The U.S is responsible for contributing over 60% of the North American automotive PCB market share. Besides, the government is dynamically participating in the expansion related to automotive components, and this is likely to endorse the growth of the global market.
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Competitive Landscape
Key Players Focus on Expanding Businesses to Gain Competitive Edge
Key players often execute effective strategies in order to maintain their dominance over the global market. Among all the strategies, one such proficient tactic is to associate or collaborate with co-companies and extend the business territories of both the companies involved. For instance, in February 2020, the principal electronic component manufacturing company, Lumax Industries Limited, declared the postponement of its current collaboration business deal with Stanley Electric Co. Ltd.
Industry Development
April 2019: Taiwan-based Tripod Technology has engaged in a contract worth USD 64.8 million for the creation of additional production units at its manufacturing location in Xiantao, China. With this development scheme, the corporation will concentrate on extending volume for multilayer boards to upsurge the added value of its PCB products, coupled with its placements in the high-margin automotive panels.
List of Key Players Covered in this Market Report
CMK Corp. (Japan)
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.)
Related Article @ https://marketresearchreportsfbi.wordpress.com/2021/10/26/bovine-lactoferrin-market-projection-by
NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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