Automotive PCB Market Size

Automotive PCB Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The global market for automobile printed circuit boards is expected to grow at a substantial rate, with a market size of $ 6.89 billion in 2024, and is expected to reach $ 10.4 billion by 2032. The annual growth rate is 5.28% during the forecast period. The main reason for this is the rising demand for advanced automobile technology, such as electric vehicles and self-driving cars. The high degree of integration of these vehicles makes it more and more necessary for high-quality printed circuit boards to support the complex functions of these vehicles. The trend of IoT and the integration of smart phone and car is also expected to drive the demand for automobile printed circuit boards. The leading industry players, such as Panasonic, TI and Infineon, are constantly innovating and improving the technology. The strategic alliance and cooperation will further enhance the production capacity and product varieties. Among them, the recent cooperation between automobile manufacturers and printed circuit board suppliers is an example of the industry's efforts to meet the needs of modern vehicles.

Regional Market Size

Regional Deep Dive

The market for the production of printed circuit boards for automobiles is growing rapidly in all regions of the world, owing to the increased demand for advanced systems in automobiles, such as those used in the entertainment and safety equipment. The market is characterized by the presence of the largest automobile manufacturers and suppliers. In addition, the trend towards electric and driverless vehicles is increasing. In Europe, the shift to sustainable automobile solutions is being supported by the introduction of stricter regulations aimed at the use of environmentally friendly materials and manufacturing processes. In the Asia-Pacific region, China in particular is a major automobile production hub, with rapid technological progress and a booming EV market. The Middle East and Africa are gradually introducing new automotive electronics, while in Latin America the focus is on boosting local production to meet rising demand.

North America

• The U.S. government is encouraging the development of electric cars, which is driving the demand for high-performance printed circuit boards in the automobile industry.
• Companies like Jabil and Flex have made substantial investments in advanced printed circuit board manufacturing equipment in order to meet the growing demands of the automotive industry, especially for electric and driverless vehicles.
• The increasing emphasis on safety and interactivity in the car is bringing about innovations in PCB design and materials. In particular, there is a growing use of flexible printed circuit boards.

Europe

• The European Union's Green Deal policy is pushing the automobile industry to take up sustainable development, and it is influencing the production of printed circuit boards towards the use of eco-friendly materials.
• By the way, the car manufacturers, including Volkswagen, BMW, etc., are working with PCB manufacturers to develop new products for their next-generation vehicles, putting a strong emphasis on smart technology integration.
• In the same way, changes in the regulatory requirements for exhaust emissions are pushing the development of more sophisticated control systems and increasing the demand for high-quality printed circuit boards.

Asia-Pacific

• China's ambitious policy of promoting electric vehicles has pushed the demand for automobile pcbs to the point that domestic manufacturers have increased their capacity.
• There are many companies, such as Samsung and LG, who are making huge investments in the development of automobiles, and they are focusing on the development of advanced PCB technology.
• Miniaturization and the integration of printed circuit boards are currently in the foreground in the region. The need for compact and efficient electric and electronic systems in modern cars is driving the trend.

MEA

• The United Arab Emirates is investing in smart city projects, which include the integration of advanced automotive technology, which will increase the demand for sophisticated printed circuit boards.
• Fortunately, domestic automobile companies have a strong relationship with overseas PCB suppliers, which has become a common trend in the industry. They cooperate to produce high-quality products, which meet the international standards.
• The regulatory framework is slowly evolving to encourage the adoption of these devices, which will drive the market for printed circuit boards.

Latin America

• Brazil has been making efforts to localize its automobile production, which should increase the demand for locally manufactured printed circuit boards.
• Government incentives for electric vehicles are attracting investment in the technology and the production of printed circuit boards.
• A new trend in the region is the increasing number of co-operation between automobile companies and the PCB manufacturers. The aim is to improve the supply chain and reduce the dependence on imports.

Did You Know?

“It is estimated that the cost of an electric vehicle is about one-third of its total cost and that about one-half of that cost is made up of electrical components, such as printed circuit boards.” — International Energy Agency (IEA)

Segmental Market Size

The market for automobiles is currently growing very strongly, mainly because of the increasing complexity of automobiles and the growing demand for advanced driver assistance systems. The increasing trend towards electric vehicles and the integration of smart technologies in vehicles are also important drivers. This is especially true of the high-tech printed circuit boards used in these vehicles. Also, the increasing demand for safety and reducing emissions in vehicles is driving the need for innovation in printed circuit board solutions.

The market is now in a phase of scalability. The leaders, such as Tesla and Volkswagen, are already deploying advanced printed circuit board technology in their electric and self-driving vehicles. The most important applications are the powertrain, the vehicle's on-board communications, and the safety equipment, where high reliability and performance are crucial. The trends of the sustainability drive and the move towards connected vehicles are boosting growth. The evolution of flexible printed circuit boards and high-density interconnections is helping to meet the requirements of the modern automobile.

Future Outlook

The Automotive Printed Circuit Board Market is expected to grow at a CAGR of 5.28% from 2024 to 2032. The growth is mainly due to the increasing integration of advanced systems in vehicles, such as driver assistance systems, information and entertainment systems, and electric vehicle components. The high-performance printed circuit boards required for these systems are expected to increase the penetration of these systems across vehicle segments.

The development of flexible and high-density interconnected printed circuit boards is expected to improve the performance of the automotive electronics. Also, the electrification of vehicles and the emergence of self-driving vehicles are expected to increase the demand for advanced printed circuit boards. The stricter emission regulations and the incentive policies for the development of electric vehicles will also have a great influence on the development of the printed circuit board industry. The key players in the automotive supply chain must be able to take advantage of the opportunities in this new market.