Automotive PCB Market Accelerates with Rising Demand for EVs & Advanced Electronics

A printed circuit board (PCB) is a board base for physically supporting and wiring the components in most electronic applications. A PCB consists of printed paths that connect different components on the PCB, such as transistors, resistors, and integrated circuits. PCBs are used in a variety of automotive applications, including power relays, ECU control modules, anti-lock braking systems, digital displays, transmission sensors, vehicle radars, and stereo and audio components.

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The significant increase in the use of PCBs in modern cars can be attributed to factors such as the growth of the electric vehicle (EV) segment and the increasing focus on occupant safety, convenience, and comfort. Luxury vehicles use a variety of PCBs because these vehicles are equipped with advanced electronic systems that can provide end users with better safety, comfort, and convenience.

Therefore, it is expected that the light luxury car segment will occupy an important market share in the global passenger car market during the forecast period. The ADAS and basic safety segment is estimated to attain the largest market size in the global market. The regulatory bodies of many countries are mandating some of the ADAS features and the execution of basic safety systems such as ABS, anti-lock braking system, and TPMS.

Top Impacting Factors

Growing electric vehicles sales, rising demand for automatic automotive switches, and rising demand for accessories & features are driving the growth of the market.

Increasing consumer preference for Bring Your Own Device (BYOD) is expected to hamper the growth of the market.

Growing economy, and rising disposable income can be seen as an opportunity for the market investments.

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Key Market Players

Daeduck Electronics,
Unimicron Technology Corporation,
KCE Electronics,
Chin Poon Industrial Co. Ltd.,
Nippon,
Samsung Electro-Mechanics,
Delphi Technologies,
Amitron,
Tripod Technology Corporation,
Meiko Electronics Co. Ltd.

Growth in Electric Vehicles Sales

Sales of electric vehicles are expected to grow at a higher compound annual growth rate during the forecast period. Owing to the increasing concern on global emissions from vehicles as well as growing government initiatives to increase the sales of electric vehicles. For instance, the Norway government is providing benefits such as no road tax, exemption from import duty and also investing heavily in infrastructure to promote sales of electric vehicles and make the region eco-drive zone by 2025. Companies manufacturing automotive PCB are signing contract with the automaker and joint venture with other company to lead the market.

For instance, in February 2020, Lumax Industries extends a joint venture with Stanley Electric, Japan. The joint venture will provide a complete range of Stanley Electric products, current and future, to the Indian automotive industry.. The joint venture will extend its product line to Heating Ventilation Air Conditioning panel (HVAC) in the near future. The product will be localized and manufactured at the newly set up electronic facility at Bawal, Haryana and the company is already in discussion with Japanese OEMs. With increasing sales of electric vehicles as well as adoption of advance driver assistance system (ADAS) technology installed in vehicle are likely to drive the demand for automotive PCB market during the forecast period.

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Questions answered in the automotive PCB market research report:

Which are the leading market players active in the automotive PCB market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the automotive PCB market?
What are the projections for the future that would help in taking further strategic steps?

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