Printed Circuit Board Market to Grow with Increasing Demand for Consumer Electronics Worldwide

According to a new market research report published by Credence Research “Printed Circuit Board Market (Product – Single-sided, Double-sided, Multi-layer; Substrate –Rigid 1-2 sided, Standard multilayer, High Density Interconnect, IC substrate, Flexible circuits, Rigid-flex; Component – Diodes, Capacitors, Resistors, Integrated circuits; PCB Laminate- Paper, FR-4, Composite epoxy Material, Polyimide; Laminate material- Glass fabric, Epoxy resin, Kraft paper, Phenolic resin; Application- Consumer electronics, IT & Telecommunication, Communication, Aerospace and Defense, Automotive, Industrial Electronics, Healthcare) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall printed circuit board market worldwide was valued at US$ 68.8 Bn and is set to grow with a CAGR of 4.0% during the forecast period.

Market Insights

The overall printed circuit boards (PCBs) market is significantly driven by the rapidly growing demand for consumer electronics worldwide. The demand for consumer electronics is growing due to adoption of latest technology and consumers’ inclination towards electronic products. Printed circuit board mechanically support and electrically connect the components fixed in layers of copper lamination. Printed circuit boards are generally made of fiberglass, composite epoxy, or other composite materials. A key reason for the growth in the global PCB market is driven by emerging growth wearable electronics. Rising adoption of automation, growing demand for wireless vehicles, more efficient interconnect solutions. As a result of these factors, we are expecting high growth in printed circuit board market during the forecast period.

Based on application, consumer electronics segment led the market with more than 1/3rd contribution in printed circuit board market revenue. The significant increase in refrigeration demand and adoption rate of smartphones has led to a rise in consumer electronics which is further driving the printed circuit board market. Notably, refrigeration, smart devices are a part of the consumer electronics segment and require printed circuit boards. Further, the stringent government regulations and standards for environmental protection have increased the demand for printed circuit boards because of its eco-friendly feature.  On account of all these factors, we are expecting the electronic circuits segment to continue led the market throughout the forecast period.

Based on the geography, Asia Pacific dominates the market with the largest revenue share of more than 60% across the globe. This growth is due to rise in consumption of smart devices and rise in numbers of semiconductor manufacturers. Further, industrialization and growth of economies in the Asia Pacific region is driving the growth for printed circuit board market growth. As a result of these factors, we are expecting Asia Pacific to grow with the highest CAGR during the forecast period. On the other hand, North America would be the fastest-growing region during the forecast period. Due to increase in consumer electronics, telecommunication and automotive in the region, the demand for printed circuit board would increase.

Some of the major companies profiled in the report include AT&S; Nippon Mektron, Ltd.; Unimicron Corp.; Samsung Electro-mechanics.; Dynamic Electronics Co., Ltd.; Daeduck Electronics Co., Ltd.; CMK Corporation; NanYa PCB Co., Ltd.; TTM Technologies; Shenzhen Kinwong Electronic Co., Ltd., Zhen Ding Technology Holding, NOK Corporation, Compeq Manufacturing, Young Poong Electronics, Tripod Technology, Ibiden Co., Epitome Components Ltd., PCB Power Ltd., and others.


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