Automotive PCB Market Size, Share, Growth, and Industry Analysis, By Type Single-sided, Double-sided, Multi-layer), By Application (Passenger Car, Commercial Vehicle), and Regional Forecast to 2032

Updated On: 04 November 2024

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AUTOMOTIVE PCB MARKET OVERVIEW

The Global Automotive PCB Market Size was USD 6.34 Bn in 2023 and is projected to touch USD 13.15 Bn by 2032, exhibiting a CAGR of 7.57% during the forecast period.

Automotive PCBs (Printed Circuit Boards) serve as the nervous system of modern vehicles, connecting various electronic components and facilitating their communication. These basic boards are exceptionally complex as they are suitable for managing diverse systems within the car, counting engines, infotainment, and others. Automotive PCBs are extraordinarily built to be appropriate for the operating conditions that exist within the automobile industry such as high temperatures, shock and other shapes of vibrations and electromagnetic fields.

The Automotive PCB is one of the most vibrant market portions within the electronics industry at the moment. With the expanding electrification of automotive products and the launch of progressed driver help frameworks (ADAS), the necessity of PCB is still the extend. Automotive PCBs are being broadly utilized all over the world and major producers are based in Asia, Europe and North America. These PCBs are in use in various vehicles that include, cars, SUVs, commercial trucks, EV among others.

GLOBAL CRISES IMPACTING AUTOMOTIVE PCB MARKET

COVID-19 IMPACT

"Automotive PCB Industry Had a Negative Effect Due to Global lockdowns and economic slowdown during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The Automotive PCB Market has confronted a few negative impacts in recent years, with COVID-19 being a especially critical factor. The widespread driven to a decrease in demand for automobiles due to lockdowns and financial slowdown, affecting the demand for PCBs. Furthermore, disturbances in supply chains caused by the pandemic brought about in shortages of raw materials and components, influencing production capacity and expanding costs. Moreover, the move in customer needs towards fundamental goods and services amid the widespread encourage diminished the demand for automobiles and PCBs.

LATEST TREND

"Strong Focus on Electrification and Autonomous Driving to Drive Market Growth"

Moreover, the latest emerging trend in the Automotive PCB Market is the trend toward electrification and autonomous driving. With the rising trends of individuals opting for EVs and the continuous integration of ADAS, there is a need for PCBs that can meet the complex electronics of these technologies. This includes PCBs of higher-density components, higher data transmission speed, and higher reliability to support the safe operation of electric vehicles and advanced driver assistance systems. Also, an increasing number of electric vehicles’ PCBs are using flexible PCBs to meet the specific design demands of motors, batteries, and other components.

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AUTOMOTIVE PCB MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Single-sided, Double-sided, Multi-layer

• Single-sided: There are PCBs whose components and traces are visible on just one face of the individual printed wiring board. These are normally applied under relatively simple systems, which incorporate relatively few aspects.

• Double-sided: These are the PCBs that has components and copper traces on the two faces of the board with the help of holes known as via. They provide a higher component density and are applied more often in automobiles.

• Multi-layer: These PCBs can be defined with more than one layer of conductive material that enables more components to fit into the same design and more complex designs to be created. Without them cars with advanced features and technology such as inset infotainment, ADAS, and electric vehicle management systems are inconceivable.

BY DOWNSTREAM INDUSTRY

Based on Downstream Industry, the global market can be categorized into Passenger Car, Commercial Vehicle

• Passenger car: This particular segment holds the biggest share of the Automotive PCB Market since there is growing call for convenience features such as infotainment, ADAS, and electric vehicles.

• Commercial vehicle: This segment comprises of vehicles such as; trucks, buses, and other commercial transport means. Although the usage of PCBs in this segment is comparatively less than that in passenger cars, presently there is a strong demand in the features like engine management systems, telematics, and safety.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Advancements in Vehicle Technology to Boost the Market"

The Advancements in Vehicle Technology is a factor in the Automotive PCB Market Growth. New generation cars including EVs and vehicles with self-driving features are increasing the popularity of car PCBs on a large scale. EVs comprise power electronics including battery management systems; these devices cannot function without PCBs that can handle high currents and have efficient thermal dissipation mechanisms. Self-driving cars rely on various sensors, information processing capabilities, and control systems and as a result, PCBs with high component density, high data transmission rates and higher reliability standards are needed. These technological inventions are shaping better and specific vehicle PCBs to boost the market for complex Automotive PCBs.

"Rising Demand for Connectivity to Expand the Market"

The demand for connectivity in cars is increasing the market of Automotive PCBs as it is a growing segment. With the defined trend for making cars smart vehicles with connected internet and other features including infotainment systems, telematics, and direct remote diagnostics the demands for PCBs with required data-transmission, communication protocols, as well as interfaces interconnectivity to other electronic systems are rising. This trend is leading to the growth of higher-value Automotive PCBs with more functions and functionalities, thus defining the growth of the market.

RESTRAINING FACTOR

"Fluctuations in the Global Automotive Industry Impede Market Growth"

There is a market rivalry that varies globally in the automotive sector which hinders growth of the Automotive PCBs market. Fluctuations in factors such as economic trends, conflicts that may impact automobile diffusion, and shifts in consumer preferences also mean variation in the demands for Automotive PCBs. For instance, during economic crises, people will not be in a position to purchase new cars, which means that PCB demand will be low. Likewise, political forces can harm the supply chain and raise production costs possibly making Automotive PCBs scarce and expensive.

OPPORTUNITY

"Increasing Adoption of Autonomous Vehicles To Create Opportunity for the Product in the Market"

An increased fleet of autonomous cars remains a valuable opportunity in the market for Automotive PCBs. Self-driving vehicles must have sophisticated sensors, computing capabilities, and intricate controls, which are heavily reliant on PCBs. There is an increased chance that as technology advances and more firms adopt this circuit board there will be a need for high-performance Automotive PCB. These PCBs must be able to incorporate huge amounts of data, compute information fast, and guarantee the secure and reliable functioning of self-driving vehicles.

CHALLENGES

"Rising Costs Could Be a Potential Challenge for Consumers"

Another threat that may be realized with Automotive PCBs is the threat of high costs which may affect consumers. It is important to observe that with growth in the complexity of the PCBs, they may be costly to manufacture especially if they have some extraordinary features. This might result in high prices for cars and this might affect the consumers thus affecting the demand for cars. Further, trends toward utilization of more costly entities such as precious metals and complex materials in its construction may also partially open the door toward costlier PC boards that will again prove costly to the consumer.

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AUTOMOTIVE PCB MARKET REGIONAL INSIGHTS

• NORTH AMERICA

In Automotive PCBs, North America, especially the United States, has a relatively large market share owing to the large automotive industry and complicated technology. The United States Automotive PCB Market is innovative in manufacturing of automobile technology such as electric cars and self-driving cars thus increasing the PCB technology needs. North American market is known for intense competition as the leading companies exist side by side with the emerging startups instrumental to technological innovation.

• EUROPE

The European continent is commonly referred to as the early adopter of new automobile technologies including electric cars and ADAS. This early-sourcing requirement increases the need to incorporate highly developed PCBs in the area. Different policies and measures have also been taken by European governments to encourage electric vehicles and eco-friendly transportation systems which helps the market growth of Automotive PCBs. Manufacturers in Europe are now looking at ways on how they could make their cars sustainable and energy efficient and as such, the demand for PCBs that suit the specifications of manufacturers is felt in the market.

• ASIA

The Automotive PCB Market in the Asia Pacific region especially China and Japan is likely to grow significantly due to an increase in car sales and the growth of the middle-income population. Cost-effective manufacturing: The region has a relatively low cost of production hence companies in the automotive industry source materials from this region. Focus on emerging markets: The Asia Pacific also comprises of a few other growth markets such as India and South East Asia.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

Market players in the field of enterprise are defining the Automotive PCB Marketplace through the invention of strategies and market development. Manufacturers are committed to investing in R&D to develop new technologies, increase efficiency and diversify production scopes. Some of these innovations can be viewed as improvements of designs, types of materials, and controls, including the incorporation of smarter technologies for improvements in functionality and versatility in operations. Furthermore, the companies engaged in the manufacturing and distribution of liquid biopolymers are also increasing their reach with partnerships, takeovers, and new ventures in the international markets. This market expansion also helps diversify the market growth opportunities and meet the higher demand for the product in different industries.

LIST OF TOP AUTOMOTIVE PCB  COMPANIES

• DAEDUCK ELECTRONICS (South Korea)
• SAMSUNG ELECTRO-MECHANICS (South Korea)
• TRIPOD TECHNOLOGY (Taiwan)
• CMK (Japan)
• CHIN POON INDUSTRIAL (Taiwan)
• AMITRON (United States)
• MEKTRON (Japan)
• MEIKO ELECTRONICS (Japan)
• KCE ELECTRONICS (Thailand)
• DELPHI (United States)
• UNIMICRON TECHNOLOGY (Taiwan)

KEY INDUSTRY DEVELOPMENT

2022: The EV adoption is one of the most remarkable trends of the modern automotive industry in the recent years. Out of sight of global warming, increasing the price of fuel, and the constant improvement of batteries EVs have gained traction around the world. Governments and automakers have poured lots of money into the research and development of EV’s and manufacturing of the technology, resulting in a greater number of vehicle models and better support systems. This trend has directly led to a higher demand for Automotive PCBs since EVs demand power electronics, battery management systems, and charging equipment all of which employ this enhanced PCB technology.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Automotive PCB Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the market's growth by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.