The Printed Circuit Board Market Estimated to Grow by USD 19 billion from 2022 and 2027

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Technavio has announced its latest market research report titled "Global Printed Circuit Board (PCB) Market 2023-2027" in which the global printed circuit board (PCB) market size is projected to grow by USD 19,059.2 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.05% during the forecast period. Moreover, the growth momentum will accelerate. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 84%.

Global printed circuit board (PCB) market - Parent market analysis

Technavio categorizes the global printed circuit board (PCB) market as a part of the electronic components market, which covers manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services. Technavio calculates the global electronics market size by considering the revenue generated from sales of the associated information communication and technology and electronics products, equipment, and components.

Global printed circuit board (PCB) market - Five Forces

The global printed circuit board (PCB) market is fragmented, and the five forces analysis covers–

• Bargaining power of buyers
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes

Global printed circuit board (PCB) market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global printed circuit board (PCB) market - Segmentation assessment

Segment overview

Technavio has segmented the market based on end-user, product, and region.

• The communication network infrastructure segment will grow at the highest rate during the forecast period. The demand for PCBs in this segment will be driven by positive market trends in mobile broadband and big data management. Moreover, with the growth of communication network infrastructure equipment, the demand for PCBs will rise during the forecast period. 

Geography Overview

Based on geography, the global printed circuit board (PCB) market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global printed circuit board (PCB) market.

• APAC held 84% of the global printed circuit board (PCB) market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. One of the main factors for the growth of the market in the region is the growing demand for electronics from the automotive, aerospace, and electronic and electrical industries in developing countries such as China and India. Furthermore, the demand for PCBs is increasing steadily in APAC owing to industrial automation.

Global printed circuit board (PCB) market – Market dynamics

Key factors driving market growth

• The rising adoption of smartphones is driving the global PCB market growth. This is attributed to the availability of low-cost smartphones and increasing global Internet penetration.
• Developing countries such as India and China are becoming emerging markets for smartphones owing to the increasing disposable income of people and the large population.
• Furthermore, smartphones have progressed from 4G LTE to 5G, and RF front-ends use more space in 5G smartphones due to the complexity of massive multiple-in multiple-out (MIMO) antenna arrangements.
• Such factors will drive the fuel of the PCB market during the forecast period.

Recent trends influencing the market

• Increasing industry automation is a key trend in the market. The adoption of automation in industries is gaining traction for effective and efficient control systems.
• PCBs play a significant role in ensuring efficient consumption of power, as they can withstand high temperatures and voltages.
• Such factors will support the growth of the global PCB market during the forecast period. 

Major challenges hindering the market growth

• Environmental concerns regarding the disposal of PCBs are challenging the global PCB market growth.
• PCBs comprise hazardous components and materials that are harmful to the environment. The epoxy resins used in PCBs contain a large amount of chlorine.
• Hence, the industry has transitioned to lead-free soldiers to reduce the number of toxic materials.
• However, recycling of PCBs leads to a rise in temperature, risk of mechanical shock, and delamination.
• These factors will adversely impact the global PCB market during the forecast period.

What are the key data covered in this printed circuit board (PCB) market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the printed circuit board (PCB) market between 2023 and 2027
• Precise estimation of the size of the printed circuit board (PCB) market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the printed circuit board (PCB) market across APAC, North America, Europe, the Middle East, Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of printed circuit board (PCB) market vendor 

Click here to learn more about the "Global Printed Circuit Board (PCB) Market 2023-2027" report.

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