Market Size of Automotive Printed Circuit Board (PCB) Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 7.49 Billion |
| Market Size (2029) | USD 9.52 Billion |
| CAGR (2024 - 2029) | 6.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Printed Circuit Board Market Analysis
The Automotive Printed Circuit Board Market size is estimated at USD 7.49 billion in 2024, and is expected to reach USD 9.52 billion by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).
The increasing use of electrical systems in cars and the expanding need for driver comfort and safety in vehicles, coupled with significant expansion of the automotive sector, are anticipated to act as major driving factors for market growth during the forecast period.
Furthermore, with the increasing popularity of vehicle automation and the growing demand for connected cars across the world, the demand for automotive PCBs is expected to grow significantly during the forecast period.
The integration of Artificial Intelligence (AI), cloud, and IoT-enabled devices to improve and enhance vehicle and vehicle-to-infrastructure communication. AI-powered technologies, such as emotional and behavioral recognition and personal assistants, have been fueling the growth of safety and scenarios, such as Vehicle As A Marketplace, which in turn is likely to enhance the demand for power electronics components in vehicles. Thus further propelling the target market.
Over the long term, increasing investments in R&D by major industry players and a rise in sales of electric and hybrid vehicles, as well as rising demand for connected vehicles fare creating demand in the automotive and transportation industry with a surge in sales of automotive printed circuit boards.
Key players in the market are expanding their production capacity to cater to the increased demand for automotive printed circuit boards. For instance,
In July 2022, Denkai America Inc. announced that it would invest USD 430 million in Augusta, Georgia, to set up its North American HQ and manufacturing facility. The manufacturing facility will include a USD 150 million production line to manufacture ED copper foils for EV batteries. In March 2022, Ather Energy and Bharat FIH, a Foxconn Technology Group subsidiary, signed an agreement wherein Bharat FIH will develop and manufacture electric components for Ather Energy, including printed circuit boards (PCBs), in India.
Automotive Printed Circuit Board Industry Segmentation
An automotive PCB is a complex circuit used to control all the electronics present in a vehicle. Automotive PCBs are used for common functions like deploying airbags and controlling other safety aids like the Electronic Stability Program (ESP) and Hill Assist Descent. They also control ADAS features like adaptive cruise control and parking sensors in a vehicle. An automotive PCB consists of a board made up of non-conductive material on which all other electronic components like sensors and microcontrollers are mounted.
The automotive PCB market has been segmented by vehicle type, propulsion type, and geography. By vehicle type, the market is segmented into Passenger Vehicles and Commercial Vehicles. By propulsion type, the market is segmented into IC Engine and Electric. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, market sizing and forecasting were done based on value (in USD).
Automotive Printed Circuit Board (PCB) Market Size Summary
The automotive printed circuit board market is poised for significant growth, driven by the increasing integration of electrical systems in vehicles and the rising demand for driver comfort and safety features. The expansion of the automotive sector, coupled with the growing popularity of vehicle automation and connected cars, is expected to propel the demand for automotive PCBs. The integration of advanced technologies such as Artificial Intelligence, cloud computing, and IoT-enabled devices is enhancing vehicle communication and safety, further boosting the market. The surge in electric and hybrid vehicle sales, supported by government incentives and policies promoting electromobility, is also contributing to the market's expansion. Key industry players are ramping up production capacities to meet this growing demand, with significant investments in manufacturing facilities and collaborations to develop innovative solutions.
The Asia-Pacific region emerges as the most dominant market for automotive printed circuit boards, driven by the presence of major automobile manufacturing countries like China, India, Japan, and South Korea. The region's strong focus on electric vehicle adoption, supported by favorable government policies and incentives, is a key factor in its market leadership. China, as the largest manufacturer and consumer of electric vehicles, plays a pivotal role in this growth, with stringent regulations encouraging the shift towards electric mobility. Europe and North America also contribute significantly to the market, with a rising trend towards vehicle electrification and the presence of major automotive OEMs. The market is moderately consolidated, with global and local players engaging in strategic partnerships, mergers, and acquisitions to strengthen their market positions and expand their product offerings.
Automotive Printed Circuit Board (PCB) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising EV Sales to Fuel Automotive PCB Demand
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1.3 Market Restraints
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1.3.1 Complex Design and Integration Challenges
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1.4 Value Chain / Supply Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 By Propulsion Type
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2.2.1 IC Engine
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2.2.2 Electric
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2.3 By Type
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2.3.1 Single Layer
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2.3.2 Double Layer
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2.3.3 Multi-Layer
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2.4 By Application
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2.4.1 ADAS
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2.4.2 Body and Comfort
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2.4.3 Infotainment System
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2.4.4 Powertrain Components
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2.4.5 Other Applications
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2.5 By Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Rest of North America
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 India
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2.5.3.2 China
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2.5.3.3 Japan
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2.5.3.4 South Korea
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2.5.3.5 Rest of Asia-Pacific
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2.5.4 Rest of the World
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2.5.4.1 Brazil
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2.5.4.2 United Arab Emirates
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2.5.4.3 Other Countries
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Automotive Printed Circuit Board (PCB) Market Size FAQs
How big is the Automotive Printed Circuit Board Market?
The Automotive Printed Circuit Board Market size is expected to reach USD 7.49 billion in 2024 and grow at a CAGR of 6.40% to reach USD 9.52 billion by 2029.
What is the current Automotive Printed Circuit Board Market size?
In 2024, the Automotive Printed Circuit Board Market size is expected to reach USD 7.49 billion.
