Canadian PCB Market Set for 4.5% Growth Through 2030, Driven by EV Surge, 5G Expansion, and Defense

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ResearchAndMarkets has published a new report on the Canada Printed Circuit Board Market. The Canada Printed Circuit Board Market is projected to grow at a CAGR of 4.5% from 2025 to 2031F. Several factors are driving this robust growth.

The Canadian printed Circuit Board (PCB) market is experiencing robust growth, fueled by advancements in electronics and rising consumer demand across various industries. The automotive sector, where PCBs are integral, saw a substantial production increase from $55.23 billion in 2020 to $74.6 billion in 2023, driven by the industry's transition to electric vehicles (EVs). Similarly, the aerospace sector benefits from investments like the Strategic Innovation Fund's (SIF) $350 million initiative in 2023 to support Sustainable Aviation Technology, creating demand for specialized PCBs in green technologies.

The telecommunications sector is also a significant contributor, with the widespread deployment of 5G and the growing use of Internet of Things (IoT) devices further boosting the market. The Canadian manufacturing sector, which contributed $174 billion (10% of GDP) in 2023, is pivotal in this expansion. As industries like defense, healthcare, and telecommunications continue to evolve, the demand for PCBs in these applications is expected to accelerate, fostering sustained growth in the market.

The expansion of electric vehicles, with over 85,500 annual sales of battery electric and plug-in hybrid vehicles, is increasing the demand for high-performance PCBs in the automotive sector. Government targets of 60% zero-emission vehicle sales by 2030 further accelerate this growth. Additionally, the continued rollout of 5G networks, along with the rapid expansion of Internet of Things (IoT) devices, drives consistent demand for advanced PCBs in telecommunications and consumer electronics.

The integration of AI with 5G networks necessitates high-speed, low-latency PCBs, while Canada's Quantum 2030 strategy, which fosters innovation in quantum hardware, further enhances the market's growth potential. Furthermore, the Canadian government's commitment to investing US$29 billion over 20 years in modernizing defense systems, including surveillance, command and control, and air weapons systems, would also increase demand for advanced PCBs in defense applications. Collectively, these factors would significantly boost demand, ensuring a prosperous future for Canada's PCB market.

Market Segmentation by Product Type

In the Canadian printed Circuit Board Market, Multilayer PCBs have the highest potential for growth as they have a vital role to play in high-tech industries, including automotive, healthcare as well and telecommunications.

Market Segmentation by End Users

The sector that holds the maximum revenue share in the Printed Circuit Board Market of Canada is the automotive sector. Owing to the nation's expanding focus on electric vehicles, smart infotainment solutions, and advanced driver-assistance systems automotive sector is holding the largest market share.

Click here to download the full report from Research and Markets.