PCB & PCBA Market by Product Type (Rigid 1-2Sided, Standard Multilayer, HDI, Microvia or Build-Up, IC Substrate, and Others),by Applications(Consumer Electronics, Computer, Communications, Industrial or Medical, Automotive, Military or Aerospace, Others) and Region, Global Trends and Forecast from 2024 To 2030

PCB & PCBA Market Segmentation Analysis

The global PCB & PCBA market is bifurcated three segments, by product type, application and region. By product type, the market is bifurcated into rigid 1-2sided, standard multilayer, HID, microvia or build-up, IC substrate, and others. By application, the market is bifurcated consumer electronics, computer, communications, industrial or medical, automotive, military or aerospace, others and region.

The electrical circuit board market is divided into several product kinds, each of which caters to a unique technical necessity or application. One common classification comprises stiff one-sided, standard multilayer, high-density interconnect (HID), microvia or build-up, IC substrate, and other varieties. Rigid one-sided boards are the conventional type of circuit board, made up of a single sheet of substrate material with conductive traces on one side. They are typically found in simpler electronic devices when cost-effectiveness and basic functionality are valued. Standard multilayer boards, on the other hand, are more sophisticated, consisting of numerous layers of substrate material separated by electrical traces. This architecture allows for higher circuit density and complexity, making it suited for a variety of applications including as consumer electronics, telecommunications, and industrial equipment.

High-density interconnect (HID) boards improve circuit density and performance by incorporating sophisticated manufacturing processes including laser drilling and fine-line patterning. HID boards are commonly used in high-performance computer systems, aerospace applications, and medical equipment where space and reliability are important considerations. Microvia, also known as build-up boards, use microvia technology to generate incredibly small holes, allowing for more sophisticated trace and connection routing. This leads in boards that are tiny and lightweight, making them perfect for use with portable devices such as smartphones, tablets, and wearable technologies.
IC substrate boards are circuit boards that are specifically intended to accommodate integrated circuits (ICs) and semiconductor devices. These boards offer a sturdy and dependable substrate for mounting and linking ICs in a variety of electronic systems, such as computers, automotive electronics, and consumer electronics.

The market for electrical components is vast, with applications spanning several sectors. These applications may be divided into numerous distinct categories, each with its own set of needs and requirements.

Consumer electronics is one of the major sectors, covering gadgets such as cellphones, tablets, laptop computers, and televisions. To address the ever-changing needs of tech-savvy customers, this industry requires components that are tiny, lightweight, energy efficient, and cost-effective. The computer industry relies significantly on electrical components to manufacture CPUs, memory modules, storage devices, and peripherals. With the growth of computing technology, there is an ongoing desire for faster, more dependable, and power-efficient components to improve performance and usefulness.

Networking equipment, routers, modems, and telecommunications systems rely on electronic components for data transmission and reception. To provide flawless communication networks, components in this industry must prioritize speed, dependability, and compatibility. Electronic components are used in a variety of applications in industry and medicine, including automation systems, control units, medical devices, and diagnostic equipment. In these sectors, reliability, durability, and accuracy are critical, as component failure can have catastrophic implications.

Modern automobiles rely heavily on automotive electronics to power features such as navigation, entertainment, safety, and engine control. To guarantee maximum performance and road safety, automobile components must fulfil strict durability, temperature tolerance, and electromagnetic compatibility criteria. Electronic components used in military and aerospace applications must be able to survive harsh environmental conditions such as high temperatures, vibrations, and electromagnetic interference. In industries where failure is not an option, dependability, toughness, and adherence to high military requirements are critical.  Other specialist uses, such as renewable energy systems, robots, and IoT devices, drive demand for electrical components. These growing markets frequently demand customized components that are suited to specific requirements and performance measures.

PCB & PCBA Market Dynamics

Driver

The increasing demand for electronic devices across various industries such as consumer electronics, automotive, healthcare, and telecommunications is a significant driver for the PCB and PCBA market.

The growing need for electronic devices in industries such as consumer electronics, automotive, healthcare, and telecommunications drives the expansion of the Printed Circuit Board (PCB) and Printed Circuit Board Assembly (PCBA) market. Several causes are driving this demand spike, including technology innovation, shifting consumer tastes, and industry-specific requirements. In the consumer electronics industry, the persistent pursuit of smaller, lighter, and more feature-rich products encourages manufacturers to seek increasingly advanced PCBs and PCBA solutions. Consumers anticipate products with improved performance, connection, and usefulness, ranging from smartphones and tablets to smart home appliances and wearables. This needs PCBs that can accommodate complicated layouts, large component densities, and innovative connecting technologies like as flexible circuits and multilayered boards. Similarly, the automotive sector is seeing a paradigm shift toward electrified and self-driving vehicles, which is driving up demand for PCBs and PCBA in a variety of automotive applications. Modern automobiles rely significantly on complex electronics, ranging from engine management and entertainment systems to advanced driver assistance systems (ADAS) and vehicle-to-everything (V2X) communication modules, necessitating the use of sturdy and high-performance PCB solutions. In healthcare, the expansion of medical devices and diagnostic equipment, along with the introduction of telemedicine and remote patient monitoring systems, is generating significant rise in demand for PCBs and PCBA. Implantable medical devices and diagnostic imaging systems, as well as wearable health monitors and point-of-care testing equipment, all rely on dependable and precision-engineered PCBs to assure maximum performance and patient safety. Furthermore, the telecommunications industry is seeing unprecedented demand for network infrastructure improvements, owing to the deployment of 5G technology, the growth of broadband networks, and the spread of Internet of Things (IoT). This corresponds to a large increase in demand for high frequency PCBs, RF/microwave circuits, and antenna systems to handle the growing data flow and provide seamless communication.

Restraint

Disruptions in the supply chain, such as shortages of raw materials, components, or semiconductor chips, can negatively impact the production of PCBs and PCBA.

Supply chain disruptions, particularly shortages of raw materials, components, or semiconductor chips, present significant challenges to the production of printed circuit boards (PCBs) and printed circuit board assemblies (PCBA), potentially causing delays and increasing costs throughout the manufacturing process. Geopolitical tensions, natural calamities, unanticipated surges in demand, and logistical obstacles are all potential causes of disruptions. One of the biggest causes of supply chain disruptions in the PCB and PCBA industries is the extensive network of suppliers and subcontractors involved in obtaining raw materials, electronic components, and semiconductor chips. Any disturbance anywhere along this complicated supply chain can have cascading effects, creating manufacturing schedule delays and impeding the timely delivery of final PCB goods to clients. The current semiconductor chip scarcity, compounded by the COVID-19 epidemic and increased worldwide demand for electronic gadgets, highlights the electronics supply chain’s fragility. Semiconductor chips are key components found in a broad range of electronic products, including PCBs and PCBAs, and any shortage or allocation of these chips can drastically disrupt production schedules and lengthen lead times.  Furthermore, shortages or disruptions in the supply of raw materials such as copper, fiberglass, and solder can exacerbate supply chain issues for PCB makers. These critical components are required in the creation of PCB substrates, electrical traces, and solder connections, thus any disruption in the supply chain can stymie production and increase material prices. Furthermore, geopolitical conflicts and trade disputes have the potential to interrupt the movement of raw materials, components, and finished goods across international boundaries, resulting in supply chain bottlenecks and procurement delays. In such cases, PCB makers may have difficulty obtaining critical components and may need to investigate alternate sourcing methods or modify their production processes to reduce the effects of supply chain interruptions.

Opportunities

The rapid growth of the electric vehicle market presents opportunities for PCB and PCBA suppliers to provide solutions.

The fast expansion of the electric vehicle (EV) industry creates great opportunity for Printed Circuit Board (PCB) and Printed Circuit Board Assembly (PCBA) vendors to play an important role in the development and spread of electric cars. As the automobile industry shifts toward electrification, PCB and PCBA solutions are becoming increasingly important in EV technologies, such as charging infrastructure, battery management systems, and onboard electronics. One of the key possibilities for PCB and PCBA providers is to provide EV charging infrastructure solutions. With the growing popularity of electric cars, there is a greater demand for sturdy and dependable charging stations to serve the growing EV fleet. PCBs are critical components of EV charging stations, since they provide communication, power control, and safety measures.

PCBA vendors may use their experience to create sophisticated PCB solutions that are suited to the unique needs of EV charging infrastructure, resulting in maximum performance, efficiency, and dependability. Another significant possibility occurs with the development of battery management systems (BMS) for electric cars. BMS is crucial for monitoring and regulating the performance, safety, and longevity of EV batteries, assuring optimal operation and maximum energy economy. PCBs and PCBA solutions are critical to BMS functioning, allowing for accurate monitoring of battery conditions, cell balance, thermal control, and connection with vehicle systems. PCB and PCBA providers may work with EV manufacturers to design and produce specific BMS systems that fulfil the automotive industry’s strict criteria for high reliability, durability, and safety.

PCB & PCBA Market Trends

• There is an increasing need for smaller, lighter, and more powerful electronic devices, necessitating the use of PCBs with higher component density and sophisticated connectivity technologies such as microvias and HDI (High-Density Interconnect) boards.

• As devices get more complicated and versatile, there is a trend to include more components onto a single PCB or within a PCBA. This integration decreases size, increases efficiency, and brings down production costs.

• Flexible PCBs provide advantages in terms of space efficiency, weight savings, and design flexibility. Stiff-flex PCBs, which mix flexible and stiff substrates, are gaining appeal in applications requiring high durability and dependability, such as wearables, medical devices, and aircraft.

• As demand for improved performance and reliability grows so doe’s interest in advanced PCB materials such as high-speed laminates, low-loss dielectrics, and heat-resistant substrates. These materials allow PCBs to fulfil the demands of new technologies like 5G, IoT, and car electronics.

• Environmental concerns are prompting the PCB sector to use eco-friendly materials and production procedures. This involves using recyclable materials, energy-efficient manufacturing processes, and waste reduction initiatives throughout the PCB lifespan.

• The integration of technologies such as AI, IoT, and robots is improving the automation and digitalization of PCB production. This increases efficiency, shortens lead times, and improves quality control throughout the manufacturing process.

Competitive Landscape

The competitive landscape of the PCB & PCBA market was dynamic, with several prominent companies competing to provide innovative and advanced PCB & PCBA.

1. AT&S
2. CMK Corporation
3. Compeq
4. Daeduck Group
5. DSBJ
6. Ellington
7. HannStar Board
8. Ibiden
9. Kingboard
10. Nanya PCB
11. Nippon Mektron
12. SEI
13. SEMCO
14. Shinko Electric Ind
15. Topcb
16. Tripod
17. TTM
18. Unimicron
19. Young Poong Group
20. ZDT

Recent Developments:

August 31, 2023 – Shinko electric industries co., ltd. announced that it has been selected for inclusion in the FTSE4Good Index Series, a widely recognized environmental, social, and governance (ESG) investment index, for the second consecutive year. In addition, it has been included in the FTSE Blossom Japan Index for the third consecutive year and in the FTSE Blossom Japan Sector Relative Index for the second consecutive year, both of whose targets are Japanese companies.

Regional Analysis

Asia-Pacific has emerged as the leading region in the PCB (Printed Circuit Board) and PCBA (Printed Circuit Board Assembly) markets. This area includes China, Japan, South Korea, Taiwan, and Singapore, which together account for a considerable portion of worldwide PCB and PCBA manufacturing and consumption. A number of reasons contribute to Asia-Pacific’s dominance in the PCB and PCBA markets. The development of a robust electronics-manufacturing ecosystem is crucial, powered by variables such as favorable government regulations, plentiful skilled labor, established infrastructure, and availability to key raw materials and components.

Furthermore, Asia-Pacific benefits from high demand for electronic equipment across a wide range of industries, including consumer electronics, automotive, telecommunications, and industrial automation. The region’s growing middle class, fast urbanization, and rising disposable income boost demand for smartphones, tablets, TVs, automotive electronics, and other electronic devices, accelerating the expansion of the PCB and PCBA markets. Furthermore, Asia-Pacific has a cost advantage and economies of scale in PCB and PCBA production. The region’s manufacturing skills, along with lower labor costs and excellent supply chain management, allow PCB and PCBA providers to offer competitive pricing and high-volume production, drawing clients from all over the world. Furthermore, Asia-Pacific benefits from ongoing expenditures in research and development, innovation, and technical advances in PCB and PCBA manufacturing methods and materials. Countries like, as Japan and South Korea are well known for their leadership in semiconductor technology, sophisticated materials, and electronics innovation, which drives the creation of cutting-edge PCB and PCBA products.

Target Audience for PCB & PCBA Market

• Electronics manufacturers
• Consumer electronics companies
• Computer hardware manufacturers
• Telecommunications companies
• Industrial equipment manufacturers
• Medical device manufacturers
• Automotive industry
• Aerospace and defense contractors
• Renewable energy companies
• Robotics companies

Segments Covered in the PCB & PCBA Market Report

PCB & PCBA Market by Product Type

• Rigid 1-2Sided
• Standard Multilayer
• HDI
• Microvia or Build-Up
• IC Substrate
• Others

PCB & PCBA Market by Application

• Consumer Electronics
• Computer
• Communications
• Industrial Or Medical
• Others

PCB & PCBA Market by Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Key Question Answered

• What is the expected growth rate of the PCB & PCBA Market over the next 7 years?
• Who are the key market participants PCB & PCBA, and what are their market share?
• What are the end-user industries driving market demand and what is their outlook?
• What are the opportunities for growth in emerging markets such as Asia-Pacific, the Middle East, and Africa?
• How is the economic environment affecting the PCB & PCBA Market, including factors such as interest rates, inflation, and exchange rates?
• What is the expected impact of government policies and regulations on the PCB & PCBA Market?
• What is the current and forecasted size and growth rate of the global PCB & PCBA Market?
• What are the key drivers of growth in the PCB & PCBA Market?
• Who are the major players in the market and what is their market share?
• What are the distribution channels and supply chain dynamics in the PCB & PCBA Market?
• What are the technological advancements and innovations in the PCB & PCBA Market and their impact on product development and growth?
• What are the regulatory considerations and their impact on the market?
• What are the challenges faced by players in the PCB & PCBA Market and how are they addressing these challenges?
• What are the opportunities for growth and expansion in the PCB & PCBA Market?
• What are the product offerings and specifications of leading players in the market?