Automotive Printed Circuit Board Market revenue to cross USD 16 Billion by 2033, says Research Nester
Prominent automotive printed circuit board (PCB) market players include TTM Technologies Inc., Schweizer Electronic AG, Unimicron Group, Meiko Electronics Co., Ltd., Millennium Circuits Limited, KCE Electronics Public Company Limited, NOK Corporation, Amitron Corp., Samsung Electro-Mechanics Co., Ltd., and TTI, Inc.
New York, July 19, 2023 (GLOBE NEWSWIRE) — The global automotive printed circuit board (PCB) market size is slated to expand at ~6% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 16 billion by the end of 2033, up from a revenue of ~USD 10 billion in the year 2022.on account of the growing adoption of electric vehicles and the use of flexible rigid PCBs. It was observed that the number of new battery-electric vehicles and plug-in hybrid vehicles sold in the first half of 2022 increased by 62 percent over the same period in 2021, totaling 4.5 million vehicles. Also, retail sales of electric vehicles reached a record high of 430,000 units in FY2022, up 215% from 133,800 units in FY2021 and 150% from 168,000 units in FY2020. With electric vehicles becoming more widespread, manufacturers are looking for ways to reduce their production costs.
Request Free Sample Copy of this Report @ OEMs, a growing electric vehicle market, and high sales of connected vehicles in countries such as India, China, and Japan. According to estimates, approximately 32% of all cars in China were connected to the Internet during the year 2021, and it is projected that by the year 2035, that percentage will reach 73%. Printed circuit boards are used in connected vehicles to control various components, such as sensors, actuators, and processors. They allow for the integration of multiple components into a single, compact unit that is both cost-effective and reliable. Additionally, they provide a platform for the integration of connected vehicle components and systems, allowing for better communication between the various components and systems. In addition, rising environmental concerns and the shifting manufacturing bases of major electronics and communication companies have contributed to the increased adoption of electric and autonomous vehicles, which is projected to drive regional market growth over the forecast period.
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Increasing Sales of Luxury and Premium Cars to Drive Growth in the North American Region
The automotive printed circuit board (PCB) market in the North America region is estimated to garner the highest CAGR by the end of 2033 owing to the rising popularity of premium cars combined with increasing sales of luxury vehicles. It was observed that Tesla, a luxury automobile company, sold 490,000 vehicles in the US in 2022. New vehicle sales by luxury brands in the United States reached a record high of 18% in June 2022. In comparison with five years ago, sales of super-premium cars such as Lamborghinis, Bentleys, and Ferraris increased by 36% in 2022. Luxury cars require a lot of PCBs since they typically have more advanced vehicle electronics features for improved comfort, convenience, and safety. Luxury cars are equipped with more advanced technology, such as automated driver assistance systems, advanced infotainment systems, and more powerful engine management systems. These systems require more sophisticated and complex printed circuit boards (PCBs) to function. PCBs are essential components for controlling and managing the high-tech electronic systems in a luxury car. Furthermore, increased adoption of technologically advanced vehicles, rising electrification of the automotive industry, and a strong government focus on developing automotive components are predicted to further drive regional market growth in the coming years.
Automotive Printed Circuit Board (PCB) Segmentation by Type
- Single-Sided PCB
- Double-Sided PCB
- Multi-Layer PCB
The multi-layer PCB segment in automotive printed circuit board (PCB) market is anticipated to hold the largest revenue by the end of 2033, backed by the growing demand for high-tech electronics, including heads-up displays on windshields, in-dash cameras, switchable drive modes, and improved telematics. Thus, multi-layer PCBs are more capable of handling the complex circuitry required by these advanced electronics. Additionally, their increased durability and reliability make them a better choice for long-term use. Multilayer PCBs are being used in automobiles as a result of the increasing heat generated by fueled engine automobiles, which is boosting the growth of this segment. Observations show that exhaust gases produced by gasoline-fueled engines reach temperatures of up to 1,400 degrees Fahrenheit. Multilayer PCBs have the advantage of increasing the density of components, decreasing the size of the board, and improving the thermal properties of the system. This makes them ideal for use in automobiles, where space is limited and the system needs to be able to withstand high temperatures.
Automotive Printed Circuit Board (PCB) Segmentation by Application
- Airbag Controls
- Anti-lock Brake Systems
- Advanced Driver Assistance System (ADAS)
- Anti-Theft Systems
- Audio-Video Systems
- Digital Displays
- Engine-Timing Systems
- Ignition Systems
- Power Steering
- Transmission Sensors
- Windshield Wipers
The advanced driver assistance systems (ADAS) segment in automotive (PCB) market is anticipated to hold the largest revenue by the end of 2033. Automotive (PCB) serve as a control unit in ADAS, resulting in better safety features and preventing accidents. The increasing safety concerns among consumers are driving the demand for such features, which is in turn expected to fuel segment growth in the coming years. Moreover, the rising technology in ADAS, such as active lane control, pedestrian spotting, 360-degree cameras, automatic parking, driver fatigue detection, and vision tracking, along with the increased implementation of ADAS in automobiles, is projected to augment the growth of this segment. According to estimates, 91% of new vehicles sold in the U.S. have at least one type of ADAS. Additionally, nearly 96% of registered vehicles in the United States are expected to be equipped with most ADAS, including rear parking sensors, rear-view cameras, light detection and warning systems, and blind spot detection.
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Automotive Printed Circuit Board (PCB) Segmentation by Fuel Type
- Internal Combustion Engines (ICEs)
- Electric
- Hybrid
Automotive Printed Circuit Board (PCB) Segmentation by Vehicle Type
- Autonomous Vehicle
- Conventional Vehicle
Few of the well-known market leaders in the automotive printed circuit board (PCB) market that are profiled by Research Nester are TTM Technologies Inc., Schweizer Electronic AG, Unimicron Group, Meiko Electronics Co., Ltd., Millennium Circuits Limited, KCE Electronics Public Company Limited, NOK Corporation, Amitron Corp., Samsung Electro-Mechanics Co., Ltd., TTI, Inc., and other key market players.
Recent Development in the Global Automotive Printed Circuit Board (PCB) Market
- The TTM Technologies Inc. has opened a new manufacturing facility in Penang, Malaysia. This new facility will enable TTM Technologies Inc. to reduce costs and improve efficiency by utilizing the latest technologies and automation to produce PCBs faster and with greater accuracy.
- The Schweizer Electronic AG expanded its units across the Atlantic by establishing a sales office in Wilmington, Delaware. The expansion was part of the company’s strategy to reach a wider customer base in the United States and tap into the region’s growing demand for electronic products.
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