The global printed circuit boards market is anticipated at USD 60.2 billion in 2022. Demand is likely to remain high for printed circuit boards (PCBs) during the assessment period. this is due to the rapid technological advancement and rapidly growing consumer electronics garnering USD 104.8 billion in 2033, recording a CAGR of 5.1% from 2023 to 2033. The market is likely to secure USD63.5 billion in 2023.
| Data Points | Kay Statistics |
|---|---|
| Printed Circuit Boards (PCBs) Market Size Value in 2023 | USD 63.5 billion |
| Printed Circuit Boards (PCBs) Market Forecast Value in 2033 |
USD 104.8 billion |
| Global Growth Rate | 5.1% |
| Forecast Period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Historical CAGR (2018 to 2022) | 6.5% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.1% |
The increasing technological advances in the consumer electronics sector, including smartphones, tablets, gaming consoles, and smart home devices, remain a major driving force behind the printed circuit boards(PCBs) market. The increasing demand for compact and high-performance PCBs also contributes to market growth.
The global shift toward renewable energy sources, such as solar and wind power, creates a demand for PCBs in energy generation and conversion systems. PCBs are used in solar inverters, wind turbine control systems, and energy storage systems, contributing to the growth of the PCB market. The printed circuit boards (PCBs) market is projected to show a noteworthy growth of USD 104.8billion by the end of the forecast period of 2033
Principal Consultant
Rapidly Growing Consumer Electronics Industry to Drive the Growth of the Printed Circuit Boards Market
Increasing use of smartphones, tablets, laptops, gaming consoles, televisions, and smart home devices is expected to drive printed circuit board markets as these products rely heavily on PCBs for their functionality. These devices require PCBs to provide interconnections between electronic components, power distribution, and signal routing.
The growth of consumer electronics extends beyond traditional devices. Increased addition of new product categories such as wearable devices, Internet of Things (IoT) devices, virtual reality (VR) and augmented reality (AR) devices, and smart home devices have gained significant popularity.
These emerging product categories require specialized PCBs to enable their unique functionalities, creating additional opportunities for printed circuit board (PCB) manufacturers. Thus as consumer electronics grows the demand for printed circuit boards is expected to grow in the near future.
The Increasing Technological Innovations Drive the Printed Circuit Boards (PCBs) Market
Technological innovation in the PCB market not only drives the development of new applications but also supports existing industries' evolving needs. More capable printed circuit boards(PCBs) increases as electronic devices become more advanced and the demand for smaller.
The development of advanced materials has a significant impact on PCB performance. Innovations in substrate materials, laminates, and conductive materials enhance signal integrity, thermal management, and reliability.
The manufacturers and technology providers in printed circuit boards invest in research and development (R&D) activities to stay at the forefront of innovation, driving market growth and shaping the future of the printed circuit boards (PCB) industry.
Growing technological advancements in printed circuit board technology enable improved performance, miniaturization, enhanced functionality, and cost-efficiency. This is expected to drive the demand for printed circuit boards in different industry verticals.
Increasing Spending in Aerospace to Boost the Growth of Printed Circuit Boards (PCBs). Market in the United States
North America is expected to dominate the global printed circuit board (PCBs) market during the forecast period. The market is anticipated to expand at a CAGR of 5.1% and is expected to accumulate a market value of USD 18.7 billion over the forecast period.
North America is a significant market for consumer electronics, automotive electronics, industrial equipment, and aerospace and defense applications. The growing demand for these electronic devices and systems has a direct impact on the demand for printed circuit boards (PCBs).
The proliferation of smartphones, tablets, wearables, and IoT devices has further fuelled the demand for printed circuit boards (PCBs) in the region. The increasing defense spending and aerospace advancements in the region have boosted the demand for printed circuit boards (PCBs) in the region.
Growing Demand from the Automotive Industry in the Region to Boost the Growth of the Market in the United Kingdom
The printed circuit board (PCBs) sales in the United Kingdom are expected to keep rising with a CAGR of 5.0% and are expected to gain a market value of USD 3.9 billion by the end of 2033.
Presence of well-established automotive industries in countries such as Germany, France, and Italy, Europe being a major automotive manufacturing hub. The increasing demand for PCBs for applications such as vehicle control systems, infotainment systems, and electric vehicle components is likely to drive market growth in the region.
Increased Technological Advances in Manufacturing to Drive the Growth of the Market in China
China’s printed circuit board (PCBs) market is expected to rise at 5.1% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 24 billion by the end of the forecast period. China accounts for the highest market share in the printed circuit board (PCBs) market.
The factor supporting the growth of the market in the region include the increasing use of electronic devices and the expansion of small home appliances in the region. Increasing government initiatives to promote advanced manufacturing and technological innovation further boost domestic demand for printed circuit boards (PCBs).
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Multi-Layer Segment to Remain Prominent During the Forecast Period
By type, the printed circuit boards (PCBs) market segment include multi-layer, double-sided, and single-sided. Among all these, the multi-layer segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 4.9% during the forecast period.
Multilayer printed circuit boards (PCBs) are highly preferred in many applications due to several advantages they offer over single-sided or double-sided PCBs.
Multilayer PCBs provide a higher density of components and interconnections. With multiple layers, designers can effectively route complex and densely packed circuitry, allowing for more functionality in a smaller footprint. This is particularly beneficial for compact electronic devices such as smartphones, tablets, and wearables.
Standard Multilayer Segment Generates High Revenue
Based on the substrate type, the market is segmented into the Standard Multilayer, HighDensity Interconnect (HDI), IC Substrate, Regid 1-2 Sided, Rigid Flex, and others segments. Among all these standard multilayer segments remains the application category is expected to expand with a CAGR of 4.7% throughout the forecast period.
Multilayer PCBs constructed using FR-4 substrates consist of multiple layers of copper traces and insulating layers stacked together. The number of layers can vary based on the complexity of the circuit and design requirements. The insulating layers between copper traces are typically made of prepreg, which is a resin-coated fiberglass material.
Standard multilayer PCBs offer good electrical properties, including low dielectric constant and low loss tangent, which contribute to the high-frequency performance of the PCB. Multilayer printed circuit boards remain the highly preferred category.
New players in the printed circuit board (PCB) market are TTm Technology and among others are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base.
For instance:
Prominent players in the Printed Circuit Boards (PCBs) market are Amphenol Corporation; Amperex Technology Ltd.; Apex Microelectronics Company Limited; Autosplice, Inc.; Auter Elektronics Ltd. among others.
Printed circuit boards (PCBs) market players are working on research & development activities for the effective composition of the material that is to be used for manufacturing.
Key players are focusing on improved productivity and quality of their products in order to gain more customer base.
The market players are engaged in expansion strategies like extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.1% from 2023 to 2033 |
| Market Value in 2023 | USD 63.5 billion |
| Market Value in 2033 | USD 104.8 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Substrate Type, End-Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa ,Israel |
| Key Companies Profiled |
Amphenol Corporation; Amperex Technology Ltd.; Apex Microelectronics Company Limited; Autosplice, Inc.; Auter Elektronics Ltd. |
The market was valued at USD 60.2 billion in 2022.
The increasing technological innovations drive sales.
Increasing miniaturization of electronic devices elevates the demand of the market.
Amphenol Corporation, Amperex Technology Ltd., and Autosplice, Inc. are the key players.
Increasing application in end-use industries offers opportunities to the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Multi-Layer 5.2. Double-Sided 5.3. Single-Sided 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Substrate Type 6.1. Standard Multilayer 6.2. High-Density Interconnect (HDI) 6.3. IC Substrate 6.4. Rigid 1-2 Sided 6.5. Rigid-Flex 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 7.1. Computer & Peripherals 7.2. Communications 7.3. Consumer Electronics 7.4. Industrial Electronics 7.5. Automotive 7.6. Aerospace & Defense 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Amphenol Corporation 16.2. Amperex Technology Ltd. 16.3. Apex Microelectronics Company Limited 16.4. Autosplice, Inc. 16.5. Auter Elektronics Ltd. 16.6. Advance Circuit Technology, Inc. 16.7. Altron, Inc. 16.8. Applied Magnetics Corporation 16.9. Atrenne Integrated Solutions, Inc. 16.10. Arbell Electronics Inc 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Technology Insights
View Reports
Printed Circuit Boards (PCB) Market
