Press release
Global Printed Circuit Board Market Projected to Surpass $86.5 Billion by 2029 with 5.9% Annual Growth
Printed Circuit Board
The projected increase in electric vehicle purchases is set to drive the expansion of the printed circuit board market in the forthcoming period. Electric vehicles (EVs), which are either solely powered by electricity or use it as a supplementary power source, utilize printed circuit boards (PCBs) to link electrical components, such as basic audio and display systems. PCBs also play a crucial role in the manufacturing of charging stations enabling EV owners to power their vehicles. For example, EVs are expected to represent 10% of global passenger car sales by 2025, according to Bloomberg New Energy Finance (BNEF), a UK-based firm offering insights, data, and updates on transitions within the energy sector. This percentage is expected to rise to 28% by 2030 and further to 58% by 2040.
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What is the future CAGR of the printed circuit board market, and how will it impact industry expansion?
The market size for printed circuit board has been experiencing consistent growth over the recent years. Its expansion is predicted to increase from $65.82 billion in 2024 to $68.75 billion in 2025, marking a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this growth during the historical period include the rising demand for electric vehicles, heightened needs from the healthcare sector, substantial economic development in emerging markets, and a surge in the demand for industrial robots within the manufacturing industry.
As per predictions, the printed circuit board market is set for substantial expansion in the coming years, reaching a valuation of $86.5 billion by 2029, signifying a compound annual growth rate of 5.9%. This surge during the predicted period can be tied back to the escalating demand for environment-friendly PCBs, amplified investments in 5G tech and telecom structures, growth in IoT devices, and an upswing in digitalization. Key trends expected to shape the market during this forecast period are the development of board-in-board connectors for superior efficiency and connectivity, the utilization of creative software tools for PCBs, harnessing AI to enhance product quality, emphasis on 3D printing for compact designs and material optimization, concentration on building sustainable PCBs, and establishing partnerships and collaborations to broaden product range and geographical reach.
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What are the emerging trends shaping the future of the printed circuit board market?
The printed circuit board market is being influenced by the growing utilization of biodegradable materials in printed circuit boards (PCBs). The focus of manufacturers is shifting towards the reduction of electronic waste by substituting traditional substrates with environmentally friendly alternatives, which not only could mitigate the comprehensive environmental impact of the electronics industry but might also result in lowered assembly and production costs. An exemplar case occurred in August 2022 when the US-based research institute, Lawrence Berkeley National Laboratory (Berkeley Lab) under the Department of Energy devised a completely recyclable and biodegradable printed circuit to lessen the health and environmental threats instigated by heavy metal waste from landfills. These PCBs consist of biodegradable polyester binders, conductive components like silver flakes or carbon black, and enzyme mixtures. The conductive ink in these PCBs uses silver or carbon black particles to provide electrical conductivity while the biodegradable polyester infused with refined enzymes such as Burkholderia cepacian lipase (BC-lipase) facilitates the easy breakdown of the polymer chain into monomer.
Which key market segments comprise the printed circuit board market and drive its revenue growth?
The printed circuit board market covered in this report is segmented -
1) By Type: Single Sided, Double Sided, Multi-Layer, High Density Interconnect (HDI), Other Types
2) By Substrate: Rigid, Flexible, Rigid-Flex
3) By Laminate Type: FR-4, Polyimide, Other Laminate Types
4) By End-Use Industry: Industrial Electronics, Healthcare, Aerospace And Defense, Automotive, IT And Telecom, Consumer Electronics, Other End Users
Subsegments:
1) By Single Sided: Standard Single-Sided PCBs, Flexible Single-Sided PCBs, Rigid Single-Sided PCBs
2) By Double Sided: Standard Double-Sided PCBs, Flexible Double-Sided PCBs, Rigid Double-Sided PCBs
3) By Multi-Layer: Standard Multi-Layer PCBs (3-10 Layers), High Layer Count Multi-Layer PCBs (More Than 10 Layers), Flexible Multi-Layer PCBs, Rigid Multi-Layer PCBs
4) By High Density Interconnect (HDI): Microvia HDI PCBs, Buried And Blind Via HDI PCBs, Flexible HDI PCBs, Rigid HDI PCBs
5) By Other Types: Flexible PCBs, Rigid-Flex PCBs, Aluminum PCBs, Ceramic PCBs
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What regions are at the forefront of printed circuit board market expansion?
Asia-Pacific was the largest region in the printed circuit board market in 2024. Asia-Pacific is also expected to be the fastest-growing region in the forecast period. The regions covered in the printed circuit board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the printed circuit board market?
Major companies operating in the printed circuit board market include Zhen Ding Technology Holding Limited, Unimicron Technology Corporation, TTM Technologies Inc., NOK CORPORATION, Tripod Technology Corporation, AT&S Austria Technologie & Systemtechnik AG, Kinwong, Jabil Inc., Suzhou Dongshan Precision Manufacturing Co.Ltd, Shennan Circuits, Sumitomo Corporation, Nippon Mektron Ltd, Compeq Manufacturing Co Ltd, CMK, IBIDEN CO. LTD, Ihara Electronic Industries Co. Ltd., Kyoden Co. Ltd., Genus Electrotech Ltd., Ascent Circuits Pvt. Ltd., Circuit Systems India Ltd., Shogini Technoarts Pvt, LtdGilson Inc, Elvia PCB, ICAPE Group, Würth Elektronik Group, EverMAX sro, A3 v.o.s, AJ Technology Ltd, AWOS s.r.o, Cemebo s.r.o, EMS-ELECTRA SRL, PCB ELECTRA, DGTronik, Flex Ltd, Rush PCB Inc, Custom Circuit Boards, Journey Circuits Inc, Mentor Graphics Corp, Rockwell Collins Inc, Telephonics Corporation, NTI PCB Lab, JHYPCB, Bonam Electronic Projects, Bosco Printed Circuits
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What Is Covered In The Printed Circuit Board Global Market Report?
• Market Size Forecast: Examine the printed circuit board market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the printed circuit board market for a structured understanding.
• Key Players Overview: Analyze major players in the printed circuit board market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the printed circuit board market.
• Segment Contributions: Evaluate how different segments drive overall growth in the printed circuit board market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the printed circuit board market.
• Industry Challenges: Identify potential risks and obstacles affecting the printed circuit board market.
• Competitive Landscape: Review strategic developments in the printed circuit board market, including expansions, agreements, and new product launches.
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