Printed circuit boards are used to support and connect electronic components, mechanically and electrically. Conductive pathways, tracks, and signal traces are etched from copper sheets laminated onto a non-conductive substrate that does not conduct electricity. A PCB is typically rigid in construction, but if flexibility is required, the copper layer can be mounted on materials such as Pyralux foil or Kapton, which are both flexible and heat resistant. Environmental and sustainability policies implemented by various governments are likely to spur expansion in PCB recycling, thereby supporting the market growth. Increased demand from the wearable technology application sector and the increasing prevalence of flexible PCBs is estimated to accelerate the growth of electronic printed circuit board (PCB) market over the forecast period.
Consumers and businesses alike demand smarter products with cutting-edge technology capabilities. As a result, new research and continual advancements in electronic technology continue to progress at a rapid rate. Furthermore, some of the leading companies provide innovative products to end user and contribute to market growth. For instance, in February 2020, TTM Technologies, Inc., a global manufacturer of printed circuit board products, radio frequency components, and tailored solutions, opened a new North American advanced technology facility in Chippewa Falls, Wisconsin. This facility provides modern PCB manufacturing technologies available in North America, including the ability to produce substrate-like PCBs.
In terms of revenue, electronic printed circuit board (PCB) market was valued at US$ 24,530.96 Mn in 2020 growing at a CAGR of 3.7% over the forecast period (2021 – 2029). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
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Telecommunication and Automotive Industry to Witness Fastest Growth over the Forecast Period
According to Absolute Markets Insights report, telecommunication and automotive industry is expected to be the fastest growing segment in the electronic printed circuit board (PCB) market over the forecast period. PCBs are essential in the telecommunications industry. Printed circuit boards are required for everything from broadcasting networks to workplace communications. Communications printed circuit boards (PCBs) are also utilised in general telecommunications systems such as cell towers, satellites, high-speed routers and servers, and commercial phone technologies. Furthermore, telecommunications printed circuit boards are also frequently used to control LED displays and indicators.
The global electric vehicle fleet has grown dramatically over the past decade due to supporting regulations and technological advancements in the electrical sector. According to the data from International Energy Agency, global sales of electric vehicles surpassed 2.1 million in 2019, exceeding 2018's record year of 7.2 million electric vehicles. The trend is estimated to showcase positive growth prospects for electronic printed circuit board (PCB) market over the forecast period.
Multilayer PCB to Retain and Further Accelerate its Share over the Forecast Period
According to AMI, Multilayer PCB accounted for a significant share of the electronic printed circuit board (PCB) market and is expected to grow over the forecast period. In order to meet the growing need for small devices, the medical industry's trend toward non-invasive treatment will drive up the market value for multi-layered PCBs. Manufacturers in the medical industry are turning to multi-layered PCBs to avoid crosstalk in critical medical applications such as infrared temperature monitoring, MRI, X-ray equipment, CT scan, and ventilators amongst others.
The electronic printed circuit board (PCB) market participants are increasingly looking forward to consolidate their market share through undertaking strategic initiatives. For instance, Zhen Ding Technology Holding Limited acquired Boardtek Electronics Corporation through a share swap in March 2020. This transaction strengthened Zhen Ding's collaboration with automotive and communication customers, increasing shareholder value and bringing mutual benefits to both parties' existing customers, employees, and shareholders.
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Rigid PCB to Hold Largest Market Share over the Forecast Period
According to Absolute Markets Insights report, rigid PCB segment is expected to hold the largest share in the global electronic printed circuit board (PCB) market over the forecast period. The rigid printed circuit board's compact size assures its use in complicated circuitry and heavy-duty applications involving high frequency and voltage variation. Also, because of its advantageous properties such as lower cost as compared to flexible PCB, greater durability, high quality, and density, it is widely used in the consumer electronics industry. For instance, WellPCB PTY LTD, incorporated in Australia, is a subsidiary of Uniwell Circuits Co. Ltd. The company is a Rigid-Flex PCB manufacturer. For customers all over the world, the firm concentrates on printed circuit board fabrication and PCB assembly turnkey services.
North America dominated the Global Market in 2020
AMI reports that North America region dominated the global electronic printed circuit board (PCB) market in 2020 and is expected to hold the largest share over the forecast period. The expanding consumer electronics sector, the rising popularity of IoT, and rising applications in the automotive industry have been recognised as important factors that are anticipated to have a favourable impact on PCB sales in the region over the future years.
Some of the players operating in the electronic printed circuit board (PCB) market are AT & S, China Circuit Technology (Shantou) Corporation, CMK CORPORATION, Compeq Co., Ltd., DAEDUCK ELECTRONICS Co.,Ltd., IBIDEN, Junda Electronics, NCAB GROUP CORPORATION, NIPPON MEKTRON, LTD., SAMSUNG ELECTRO-MECHANICS, SHINKO ELECTRIC INDUSTRIES CO., LTD., Sumitomo Electric Printed Circuits, Inc., Tripod Technology, TTM Technologies, Unimicron, youngpoong electronics co., Ltd., and Zhen Ding Tech amongst other market participants.
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Global Electronic Printed Circuit Board (PCB) Market:
By Product Type
- Flexible PCB (FPCB)
- Rigid PCB
- High-Density Interconnect (HDI) PCBs
- Metal Core PCBs
- Aluminum Core PCB
- Copper Core PCB
- Others
- Flex-Rigid PCB
- Radio Frequency (RF) PCBS
- Integrated Circuits (IC) Substrates
- Customized PCBs
- Others
By PCB Layer
- Single Sided PCBs
- Double Sided PCBs
- Multilayer PCB
By Application
- Electricals, Semiconductor & Consumer Electronics
- Smartphone
- Cameras
- Printers & Scanners
- Desktop PCs & Laptops
- Portable Game Console
- e-Readers & Tablets
- Wearable
- Television & LCDs
- Digital Displays
- Memory Module
- Hard Disk Drive (HDD)
- Others
- Telecommunications
- Satellite Technology
- Fixed and Mobile Networks
- Broadband Equipment
- Cell Transmission and Tower Electronics
- Signal Amplification Devices
- Others
- Automotive
- Antilock Brake Systems
- Audio and Video Equipment
- Communication Equipment
- Powertrain
- Navigation System
- LED Lighting
- Engine Control Sensors
- Others
- Medical Devices
- Pacemakers
- CT Scanning Systems
- Heart and Blood Pressure Monitors
- X-Ray and Tomography Equipment
- Others
- Industrial Electronics
- Graphic Production Equipment
- Packaging Equipment
- Power Supplies Equipment
- Programmable Logic Controllers
- Others
- Robotics
- Aerospace & Satellite
- Military & Defence
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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