Automotive PCB Market Size to Boost $11.9 Billion By 2026 | CAGR 5.3%
Growing Electric Vehicles Sales Driving the Automotive PCB Market Growth
HYDERABAD, TELANGANA, INDIA, October 20, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Automotive PCB Market size is forecast to reach $11.9 billion by 2026, growing at a CAGR of 5.3% from 2021 to 2026. Printed circuit boards (PCBs) are the foundational building block of most modern electronic devices. PCBs consist of printed pathways which connect different components on the PCB such as transistors, resistors and integrated circuits. PCB is used in several automotive applications such as power relays, in vehicle informational, antilock brake systems, digital displays, audio systems, engine timing systems, battery control systems and many more functions. Printed circuit boards are used in many ways in the automotive industry and have changed the way that people drive. The need for PCBs is increasing as vehicle owners and drivers demand more accessories in vehicles. A printed circuit board which is used in car or truck must be highly reliable and long-lasting. The improving electromagnetic shielding and electronic design automation capabilities will drive the adoption of Multi layer PCBs. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. The demand for automotive PCBs is high in the forecast period due to growing demand for hybrid electric vehicles (HEV) and Battery electric Vehicles (BEV)
2. Printed circuit boards are used in several automotive applications like anti-lock brake systems, safety and security features, ECU systems, control engines and GPS navigation systems.
3. PCBs can be programmed to perform system essential commands irrespective of their sizes.
4. Asia-Pacific is projected to dominate the market share in the forecast period. Due to economies like China, Japan, South Korea and Taiwan is witnessing a high surge in automotive production due to availability of low labour and logistical costs.
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1. There are three types of printed circuit boards – single-sided, double-sided and multi-layer PCBs. Multi Layer PCB is projected to grow at the fastest rate from 2021-2026 at 7.2% CAGR driven by improving electromagnetic shielding and electronic design automation.
2. Printed circuit boards are commonly used in vehicles these days in passenger cars and commercial vehicles. Passenger Vehicles dominate the market with a share of 67% in 2020.
3. Asia-Pacific is projected to dominate the market share in the forecast period with 35% share in 2020. The economies such as China, Japan, South Korea and Taiwan are witnessing a high surge in automotive production due to availability of low labor and logistical costs.
The top 5 players in the Automotive PCB industry are –
1. Amitron, CMK
2. Chin Poon Industrial Co. Ltd
3. Daeduck Electronics
4. Delphi Technologies
5. Meiko Electronics Co. Ltd
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