PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584108
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1584108
Automotive PCB Market size was valued at USD 9,703.90 Million in 2023, expanding at a CAGR of 5.80% from 2024 to 2032.
An Automotive Printed Circuit Board (PCB) is a crucial component in modern vehicles, used to support and electrically connect various electronic and electrical components. In the automotive industry, PCBs are designed specifically to withstand harsh environments such as extreme temperatures, vibrations, moisture, and exposure to chemicals. They play a vital role in vehicle performance and safety.
Automotive PCB Market- Market Dynamics
Growing demand for EVs, advanced safety regulations and high demand for automotive electronics is expected to propel market demand
The rising shift toward electric vehicles across the globe is one of the biggest drivers of the automotive PCB market. EVs require more complex and high-density PCBs for battery management systems, powertrain control, and charging systems. The growing EV market directly boosts demand for PCBs that can handle high power loads and operate in challenging conditions. The increasing integration of advanced electronic systems in vehicles, such as infotainment, advanced driver assistance systems (ADAS), vehicle-to-everything (V2X) communication, and autonomous driving technologies, is driving the need for sophisticated PCBs. Modern vehicles require robust electronics to support these features, which increases the demand for multi-layer, high-performance PCBs.
Consumers are increasingly prioritizing safety, and regulatory bodies or policies are mandating safety technologies like automatic emergency braking, lane departure warnings, adaptive cruise control, and blind-spot monitoring. These systems rely on complex sensors and control units, which are powered by advanced PCBs. The Internet of Things (IoT) and vehicle-to-everything (V2X) connectivity allow cars to communicate with each other and with infrastructure, enhancing the driving experience and improving safety. These systems require high-performance PCBs that can manage data transmission, processing, and connectivity in real-time, contributing to market growth.
Automotive PCB Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.80% over the forecast period (2024-2032)
Based on Type segmentation, the double-sided PCBs segment was predicted to show maximum market share in the year 2023, as they offer greater intermediate level complexity at lower costs.
Based on Vehicle Type segmentation, passenger cars segment was the leading Vehicle Type segment in 2023, due to the high demand from infotainment systems, advanced electronic components.
Based on Application segmentation, infotainment components segment was the leading Application segment in 2023, due to the growing adoption of internet connectivity & smartphone integration.
On the basis of region, North America was the leading revenue generator in 2023, due to the presence of strong market players and rising demand from hybrid & electric vehicles.
Global Automotive PCB Market is segmented on the basis of Type, Vehicle Type, Application, and Region.
The market is divided into three categories based on Type: single-sided PCBs, double-sided PCBs, and multi-layer PCBs. The double-sided PCBs segment dominates the market. These PCBs have high demand from power supplies, lighting systems, and instrumentation devices boosting segment growth.
The market is divided into two categories based on Vehicle Type: passenger cars and commercial vehicles. The passenger cars segment dominates the market. The demand for hybrid, electric passenger cars is mainly fueling market growth.
The market is divided into five categories based on Application: infotainment components, powertrain components, ADAS & safety, vehicle lighting, and others. The infotainment components segment dominates the market and is expected to maintain its high dominance during the forecast period. The internet connectivity, ADAS interface, display technologies is fostering segment demand.
Automotive PCB Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds a significant share in the automotive PCB market, driven by technological advancements in the automotive sector and growing demand for electric and autonomous vehicles. The United States is at the forefront of autonomous vehicle development, with companies like Tesla, Waymo, and General Motors investing heavily in self-driving technologies. This is increasing the demand for high-density and complex PCBs for ADAS and control systems. In Asia Pacific, China, South Korea and Japan are major contributors, home to leading automotive and electronics companies like Hyundai, Kia, Toyota, and Honda.
The Automotive Printed Circuit Board (PCB) market is experiencing robust growth, propelled by the increasing integration of electronic systems in vehicles, the shift towards electric and autonomous vehicles, and the demand for advanced safety and infotainment system. Samsung, Infineon Technologies, Bosch, are some of the prominent players in automotive electronics, supplying semiconductors and system solutions that enhance vehicle safety, efficiency, and connectivity. Companies are investing in research and development to enhance PCB technologies, focusing on miniaturization, increased functionality, and the integration of flexible and rigid-flex PCBs.
In October 2024, Bosch announced a partnership with U.S. chip startup Tenstorrent to develop a standardized platform for automotive chips using chiplets.
In May 2024, Chin-Poon Industrial, announced its plans to invest USD 27.3 million to expand their business in Thailand.