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 @ https://www.researchnester.com/sample-request-4619

One method they are employing is the use of flexible rigid PCBs. These PCBs allow for more efficient production and require fewer materials than traditional PCBs. This helps to reduce the cost of production and makes electric vehicles more affordable for consumers. Moreover, governments around the world are increasingly implementing policies that encourage people to switch to electric vehicles to reduce emissions. As a result, the demand for electric vehicles has increased as they are seen as a viable alternative to conventional gas-powered vehicles, which is expected to drive market growth over the forecast period.

Automotive Printed Circuit Board (PCB) Market: Key Takeaways

  • Market in Asia Pacific to experience the highest growth
  • A rapid growth rate to be seen in the multilayer PCB segment
  • Market in North America expected to grow the fastest

Growing Demand for Leisure and Comfort Vehicles to Boost Market Growth

The increased demand for in-car comfort and entertainment features, such as advanced navigation systems, audio systems, and driver assistance systems, is driving the growth of the automotive (PCB) market. In addition, the growing demand for fuel-efficient vehicles and rising commercial and passenger vehicle production are anticipated to further fuel the growth of this market. During April 2020 to March 2021, the automobile industry produced approximately 22,600,600 vehicles, which included passenger cars, commercial vehicles, three-wheelers, and quadricycles, an increase of 2,930,200 vehicles over the same period of time. Fuel-efficient vehicles require smaller and lighter components that are more reliable and take up less space. Automotive PCBs are more reliable than traditional components and are lightweight and space-saving, making them ideal for fuel-efficient vehicles. Furthermore, millimeter-wave radar is used in ADAS and electric vehicles to help with safety, navigation, and autonomous driving. They need PCBs (printed circuit boards) to process the data and signals they receive, which is increasing demand for PCBs and, as a result, is expected to fuel market growth. 

Automotive Printed Circuit Board (PCB) Market: Regional Overview

The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Existence of Automotive OEMs Manufacturers and Rise in Sales of Connected Vehicles to Boost the Growth in the Asia Pacific Region

The automotive (PCB) market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2033, backed by the strong presence of automotive manufacturers and automotive printed circuit board 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.

Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4619

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.
Purchase Copy of this Report @ https://www.researchnester.com/purchage/purchase_product.php?token=4619

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.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

 

Contact Data