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Impact Of Electric Vehicle Growth On The Printed Circuit Board Market Emerges as a Core Driver of the Printed Circuit Board Market in 2025
Printed Circuit Board Market
Printed Circuit Board Market Size Growth Forecast: What to Expect by 2025?
The market size for printed circuit boards has been experiencing consistent growth over recent years, escalating from $65.82 billion in 2024 to reach a projection of $68.75 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The increase during the historic period is largely due to rising electric vehicle demand, heightened requests in the healthcare sector, a robust economy in developing markets, and a growing need for industrial robots within the manufacturing industry.
How Will the Printed Circuit Board Market Size Evolve and Grow by 2029?
The future projections for the printed circuit board market indicate significant expansion, with the value projected to reach $86.5 billion in 2029, representing a compound annual growth rate (CAGR) of 5.9%. This escalation during the forecast period can be traced back to factors such as the rising demand for green PCB's, increased investment in 5G technology and the telecom infrastructure, growth in the Internet of Things (IoT) devices and wider digitalization. Forecasted trends for the period show a focus on creating board-in-board connectors for enhanced efficiency and connectivity, the integration of innovative software tools for printed circuit boards, the application of artificial intelligence to boost product quality, the incorporation of 3D printing technology for compact designs and optimal material utilization, work towards the production of sustainable PCBs, and a push for partnerships and collaborations to broaden the product range and extend geographic reach.
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What Drivers Are Propelling the Growth of Printed Circuit Board Market Forward?
The growth of the printed circuit board market is anticipated to be propelled by the rising sales of electric vehicles in the coming years. Electric vehicles, which are either fully or partially electricity-powered, utilize printed circuit boards (PCBs) to interconnect the electrical components, such as basic audio and display systems. PCBs are also employed in the assembly of charging stations which serve as refuelling points for electric vehicles. A projection from Bloomberg New Energy Finance (BNEF), a UK-based company offering insights and information regarding the transition in the energy sector, states that electric vehicles are projected to constitute 10% of global passenger car sales by 2025. This figure is estimated to reach 28% by 2030 and 58% by 2040.
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Which Emerging Trends Are Transforming the Printed Circuit Board Market in 2025?
The trend of utilizing eco-friendly materials in the construction of printed circuit boards (PCBs) is influencing the trajectory of the PCB market. The focus for manufacturers currently lies in reducing e-waste by swapping traditional substrates with greener alternatives. This approach could not only lessen the negative environmental impact of the electronics industry, but might also potentially reduce the costs associated with production and assembly. Take for example the actions of the Lawrence Berkeley National Laboratory (Berkeley Lab), a research institute from the US that falls under the Department of Energy. They created a fully recyclable and biodegradable printed circuit in August 2022, in an effort to counter the health and environmental risks associated with heavy metal waste found in landfills. The PCBs they developed include biodegradable polyester binders, fillers that conduct such as carbon black or silver flakes, and blends of enzymes. This conductive ink's roles are to provide electrical conductivity through the silver or carbon black particles and the biodegradable polyester embedded with enzymes like Burkholderia cepacian lipase (BC-lipase) facilitates the straightforward degradation of the polymer chain into monomer.
What Are the Key Segments in the Printed Circuit Board Market?
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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Who Are the Key Players Shaping the Printed Circuit Board Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Printed Circuit Board Market?
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.
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