Printed Circuit Boards Market to Reach US$ 107.6 Billion by 2030, Driven by Growing Demand for Electronics and IoT Devices: A Comprehensive Overview & Forecasts, 2023-2030
Rationalstat LLC
8 min read
Rationalstat LLC
The global printed circuit boards market is expected to reach US$ 107.6 billion by 2030, with an annual growth rate of more than 4.1%. The growth of the printed circuit boards market is attributed to the increasing demand for electronics and IoT devices in various industries, such as consumer electronics, automotive, healthcare, and telecommunications.
Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s market report, the Global Printed Circuit Boards Market value is estimated at US$ 81.2 billion in 2023 and is expected to rise at a strong CAGR of over 4.1% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Printed circuit boards (PCBs) are critical components in electronic devices, acting as the foundation for electronic component integration. A printed circuit board (PCB) mechanically supports and electrically connects electronic components by etching conductive paths, tracks, or signal traces from copper sheets laminated onto a non-conductive substrate. A PCB's principal function is to serve as a platform for the construction and connecting of various electronic components such as resistors, capacitors, integrated circuits, and connectors.
The usage of electronic components for safety, entertainment, navigation, and autonomous driving systems has increased in the car industry. This has increased the demand for PCBs in the automotive industry.
According to a deep-dive market assessment by RationalStat, the global Printed Circuit Boards market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global Printed Circuit Boards market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Printed Circuit Boards market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
GlobalPrinted Circuit Boards Market: Segmental and Market Share Analysis
On the basis of application, automotive segment is anticipated to dominate the global market with a CAGR of 5%. Increasing demand for PCBs for applications such as vehicle control systems, infotainment systems and electric vehicle components is likely to drive market growth.
Report Synopsis
Report Metrics
Details
Base Year
2023
Forecast Period
2023-2030
Base Year Market Size
US$ 81.2 billion
Market Size Forecast
US$ 107.6 billion
Growth Rate
4.1%
Dominant Segment
Automotive
Dominant Region
Asia Pacific
Key Market Drivers
Growing adoption of IoT
Continuous advancements in technology
Companies Profiled
Jabil Inc.
Wurth elektronik group (Wurth group)
TTM Technologies Inc
Becker & Muller Circuit Printing GmbH
Advanced Circuits Inc.
Sumitomo Electric Industries Ltd (Sumitomo Corporation)
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global printed circuit boards market include.
In September 2022, Wurth Elektronik Circuit Board Technology Group announced the foundation of Wurth Elektronik CBT International GmbH. The new business divison’s main goal is to improve and grow the company’s position in international markets especially in Europe.
Some of the prominent players and suppliers operating and contributing significantly to the global printed circuit boards market growth include Jabil Inc., Wurth elektronik group (Wurth group), TTM Technologies Inc, Becker & Muller Circuit Printing GmbH, Advanced Circuits Inc., Sumitomo Electric Industries Ltd (Sumitomo Corporation), Murrietta Circuits, Unimicron Technology Corporation, Tripod Technology Corporation, and AT&S Austria Technologie & Systemtechnik AG, among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
