Automotive PCB Market 2021: Industry to Grow at 5.98% CAGR Forecast by 2023 | Top Leading Companies Unimicron, TTM Technologies, LTD., KCE Group, Tripod Technology, Daeduck Electronics

Market Analysis

The Global Automotive PCB Market size will grow at a 5.98% CAGR between the forecast period 2018- 2023, states the recent Market Research Future (MRFR) analysis. The printed circuit board (PCB) is the board that is utilized to electrically connect and mechanically support various electronics components with conductive paths. Automotive PCB is of different types such as single-side, double-side, and multi-layer that have wide applications in the internal combustion engine, battery electric vehicles, and hybrid electric vehicles.

Various factors are propelling the global automotive PCB market share. According to the recent MRFR market estimates, such factors include rising applicability of rigid-flex PCBs, penetration of in-vehicle infotainment systems, availability of new energy vehicles, increased potential of ADAS, growing installation of IVI systems, growing demand for electric cars, development of digitalization of printed circuit board design simulation, and introduction of convenient safety systems. Additional factors adding market growth include growing demand for more features and accessories in cars that can be powered by sophisticated electronic systems, increasing production of commercial and passenger cars, and increased penetration of radar systems.

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On the contrary, increasing risk of operation failure, the COVID-19 impact, and the precedence of consumers over BYOD are factors that may limit the global automotive PCB market growth over the forecast period.

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global automotive PCB market based on vehicle type, PCB type, and end user.

By vehicle type, the automotive PCB market i segmented into hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), and internal combustion engine (ICE). Of these, the ICE segment will lead the market over the forecast period.

By PCB type, the global automotive PCB market is segmented into single-side, double-side, and multi-layer. Of these, the single-sided segment will dominate the market over the forecast period.

By end user, the global automotive PCB market is segmented into passenger car and commercial vehicle. Of these, the passenger car will spearhead the market over the forecast period.

Regional Analysis

By region, the automotive PCB market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. The presence of several semiconductor manufacturers, rising adoption of smart devices, increasing production of commercial and passenger cars, presence of key vehicle manufacturers in South Korea, Japan, and China, China being the largest automotive manufacturing sectors, rising market share of advanced electronics in cars, the rising purchasing power of consumers, and good consumer awareness for safety features in developing countries are adding to the global automotive PCB market growth in the region.

In North America, the automotive PCB market is predicted to have healthy growth over the forecast period. Growth in the consumer electronics market, the increasing popularity of IoT, growing applications in the auto industry, and PCBs packaging flexibility and enhanced performance are adding to the global automotive PCB market growth in the region.

In Europe, the automotive PCB market is predicted to have sound growth over the forecast period, and that in the LAMEA is predicted to have steady growth over the forecast period.

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Key Players

Key contenders profiled in the global automotive printed circuit board market report include CMK CORPORATION, CHIN-POON INDUSTRIAL CO., LTD., KCE Group, Daeduck Electronics Co., Ltd., TTM Technologies, Tripod Technology Corporation, NIPPON MEKTRON, LTD., MEIKO ELECTRONICS Co., LTD., Unimicron Corporation, AT & S Austria Technologies & Systemtechnik Aktiengesellschaft, and SAMSUNG ELECTRO-MECHANICS.

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