Automotive Printed Circuit Board Market: Driving the Future of Connected Mobility

 The global automotive printed circuit board (PCB) market was valued at USD 9.79 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2024 to 2030. The market is undergoing substantial expansion due to a combination of evolving trends, growing technological demands, and promising opportunities in the global automotive industry.


One of the primary growth trends fueling this market is the increasing adoption of electric vehicles (EVs). EVs depend on a wide range of sophisticated electronic systems, such as battery management systems, powertrain control modules, and onboard chargers, all of which require high-performance and reliable PCBs. Another significant trend is the rapid evolution of autonomous driving technologies, including Advanced Driver Assistance Systems (ADAS). These systems require complex sensor arrays, real-time data processing, and AI-based control mechanisms, further increasing the demand for robust PCBs.


Additionally, there is a growing emphasis on advanced infotainment systems in modern vehicles. Consumer demand for features such as in-car entertainment, internet connectivity, real-time navigation, and smartphone integration has led to the development of sophisticated infotainment architectures, which depend heavily on complex PCB configurations.


Market Drivers

The automotive PCB market is being propelled by several key drivers:

  • Technological advancements in automotive electronics and PCB manufacturing processes have significantly improved the performance, durability, and design flexibility of PCBs, making them ideal for the demands of modern vehicles.
  • Stringent safety and emissions regulations are compelling automakers to incorporate more electronic control units (ECUs) and monitoring systems, which increases the use of PCBs across vehicle platforms.
  • Rising consumer expectations for enhanced safety features, seamless connectivity, and integrated infotainment are further stimulating demand for advanced automotive electronics, and by extension, PCBs.


Market Restraints

Despite the robust outlook, the market does face some challenges and limitations:

  • The development and production of advanced PCBs often involve high initial costs and complex manufacturing processes, requiring substantial investment in both technology and skilled labor.
  • Supply chain disruptions, along with economic fluctuations, can significantly affect the availability and pricing of raw materials, creating instability in the market.
  • The increasing miniaturization and technical complexity of PCBs pose manufacturing and quality assurance challenges that may limit the pace of expansion for smaller industry players.


Opportunities for Growth

Despite these hurdles, there are numerous growth opportunities emerging in the market:

  • The electric vehicle boom continues to be a major driver of PCB demand. EVs utilize more electronic components than conventional vehicles, presenting significant market potential for PCB manufacturers.
  • Emerging markets in regions such as Asia Pacific and Latin America are witnessing an uptick in vehicle production, rising adoption of smart technologies, and infrastructure investments, which all support PCB market growth.
  • Sustainability initiatives are encouraging the development of eco-friendly, recyclable, and energy-efficient PCBs, opening up innovative pathways for manufacturers to meet regulatory and consumer expectations.
  • Advances in PCB technology, such as the development of flexible and rigid-flex PCBs, are enabling further miniaturization, lightweighting, and complex circuit integration, which are essential for next-generation automotive systems.


Key Market Trends & Insights

  • North America is a significant player in the automotive PCB market, with the region focusing heavily on technological innovation and the adoption of advanced automotive electronics.
  • Within North America, the United States leads the regional market, supported by a robust automotive industry, strong R&D initiatives, and rapid integration of next-gen vehicle electronics.
  • The double-sided PCB segment emerged as the dominant segment in 2023, contributing to more than 36% of global revenue. This dominance is attributed to the versatility and cost-efficiency of double-sided PCBs, which offer a balance between performance and complexity, especially suitable for mid-range applications.
  • The passenger car segment led the automotive PCB market in 2023, primarily due to the high production volumes and the increased use of advanced electronic systems in these vehicles to meet consumer expectations and regulatory standards.
  • The conventional vehicles segment also dominated the market in 2023. Although the industry is steadily moving towards electric mobility, conventional internal combustion engine vehicles still represent a large portion of the global fleet, particularly in developing economies, thus contributing significantly to ongoing PCB demand.
  • The infotainment components segment was the leading application area in 2023. Growing consumer preference for integrated connectivity, entertainment, and navigation features has driven the demand for advanced infotainment systems. These systems depend on high-quality PCBs to ensure functionality, reliability, and user interface performance.

 

Order a free sample PDF of the Automotive Printed Circuit Board Market Intelligence Study, published by Grand View Research.


Market Size & Forecast

  • 2023 Market Size: USD 79 Billion
  • 2030 Projected Market Size: USD 09 Billion
  • CAGR (2024-2030): 7%

 

Key Players

  • Chin Poon Industrial
  • Meiko Electronics
  • Nippon Mektron
  • TTM Technologies
  • KCE Electronics
  • Tripod Technology
  • Unimicron Technology
  • Kingboard Chem GRP
  • Amitron Corp
  • CMK Corp.

 

Conclusion

In conclusion, the global automotive PCB market is poised for continued growth through 2030, supported by transformative trends in electrification, autonomy, connectivity, and infotainment. While challenges such as high production costs and supply chain volatility persist, the market is buoyed by strong demand in EVs, emerging market potential, and ongoing innovation in PCB technology. As the automotive industry continues to evolve, PCBs will remain a critical enabler of the intelligent, connected, and sustainable vehicles of the future.

 

 

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