Press release
India Printed Circuit Board (PCB) Market Trends, Growth & Forecast | Analysis 2034
PCBs are critical components in all electronic products, providing the essential framework that holds and connects various electronic components through conductive pathways. With India emerging as a hub for electronics manufacturing and assembly, particularly under the Make in India and Production Linked Incentive (PLI) schemes, the demand for both bare and populated PCBs is growing exponentially. Industries across sectors-ranging from consumer electronics to defense-are increasingly relying on domestic PCB production to reduce import dependency and enhance supply chain resilience.
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Market Growth
India's rapidly expanding electronics ecosystem is playing a pivotal role in the remarkable growth of the printed circuit board (PCB) industry. Government initiatives such as the Make in India campaign and Production Linked Incentive (PLI) schemes have attracted substantial foreign direct investments and encouraged domestic manufacturing of electronic components, including PCBs.
This policy-driven momentum, coupled with the development of special economic zones and electronics manufacturing clusters, has created a conducive environment for PCB production to thrive. Moreover, the increasing penetration of smartphones, smart appliances, wearable devices, and IoT-based solutions has surged the demand for high-performance PCBs that offer enhanced durability and precision.
The ongoing rollout of 5G technology, rapid adoption of electric vehicles (EVs), and the proliferation of industrial automation and smart factory solutions are further boosting the need for complex, multilayer, and flexible PCBs. As India continues to strengthen its position as a global electronics manufacturing hub, the PCB market is poised for sustained and accelerated growth.
Market Trends
India's rapidly expanding electronics ecosystem is playing a pivotal role in the remarkable growth of the printed circuit board (PCB) industry. Government initiatives such as the Make in India campaign and Production Linked Incentive (PLI) schemes have attracted substantial foreign direct investments and encouraged domestic manufacturing of electronic components, including PCBs.
This policy-driven momentum, coupled with the development of special economic zones and electronics manufacturing clusters, has created a conducive environment for PCB production to thrive. Moreover, the increasing penetration of smartphones, smart appliances, wearable devices, and IoT-based solutions has surged the demand for high-performance PCBs that offer enhanced durability and precision.
The ongoing rollout of 5G technology, rapid adoption of electric vehicles (EVs), and the proliferation of industrial automation and smart factory solutions are further boosting the need for complex, multilayer, and flexible PCBs. As India continues to strengthen its position as a global electronics manufacturing hub, the PCB market is poised for sustained and accelerated growth.
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Market Segment Analysis
Breakup by Manufacturing Type
Bare PCBs
Populated PCBs
Breakup by Product Type
Rigid 1-2 Sided
Standard Multilayer
Flexible Circuits
HDI/Microvia/Build-Up
Rigid Flex
Others
Breakup by Number of Layers
Single-Sided
Double-Sided
Multi-Layer
Breakup by Type
Rigid PCBs
Flexible PCBs
Breakup by Laminate Type
FR-4
Polyamide
CEM-1
Paper
Others
Breakup by Application
Consumer Electronics
Communication
Industrial Electronics
Computers
Military and Aerospace
Automotive
Medical Instrumentation
Breakup by Region
Maharashtra
Tamil Nadu
Karnataka
Gujarat
Others
Competitive Landscape
The Indian PCB market is highly competitive, with both domestic and international players striving to meet the increasing demand for technologically advanced and cost-effective PCB solutions. The EMR report covers major companies operating in the market, analyzing their production capacities, investment strategies, and technological collaborations. Key players include:
Epitome Components Ltd.
Shogini Technoarts Pvt. Ltd.
India Circuit Ltd.
Hi-Q Electronics Pvt. Ltd.
Genus Electrotech Ltd.
Ascent Circuits Pvt. Ltd.
Fine-Line Circuits Limited
S.B Electronics
Others
These companies are focusing on expanding their production capacities, adopting automation in PCB manufacturing, and improving product quality to meet international standards. Strategic partnerships and investments in R&D are also becoming essential for sustaining competitiveness in the rapidly evolving Indian PCB market.
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