PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1499743
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1499743
Europe Automotive PCB Market is valued at approximately USD 2.29 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.80% over the forecast period 2024-2032. Automotive PCBs are circuit boards built specifically for use in vehicle electronic systems. These printed circuit boards are designed to survive the severe environment of a vehicle, including temperature variations, vibrations, and possible exposure to moisture and chemicals. Furthermore, the rising focus on vehicle electrification is gaining attention towards Europe Automotive PCB Market. Europe has stringent regulations aimed at reducing carbon emissions and promoting sustainable transportation. The European Green Deal targets a 90% reduction in transport emissions by 2050. These regulations are pushing automotive manufacturers to adopt Electric Vehicles (EVs) And Hybrid Electric Vehicles (HEVs), which rely heavily on advanced electronics and PCBs.
The Europe Automotive PCB Market is driven by the expansion of EV charging infrastructure and supportive government initiatives towards advanced safety features in vehicles across the region. Modern charging stations for electric vehicles require advanced electronic management systems to manage power distribution, user interfaces, communication with vehicles, and interaction with the power grid. These systems rely heavily on high-quality PCBs to ensure reliable operation, safety, and efficiency. In addition, European governments have implemented stringent regulations requiring the inclusion of advanced safety features in vehicles. Regulations such as the European General Safety Regulation mandate the integration of Advanced Driver Assistance Systems (ADAS) and other safety technologies in new vehicles. These features rely heavily on electronic systems, which in turn drive the demand for PCBs. However, the high pricing of Automotive PCB and unavailability of standardization within automotive industry is going to impede the overall demand for the market during the forecast period 2024-2032.
The key countries considered for the Europe Automotive PCB market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany was the largest regional market in terms of revenue owing to factors such as the increasing presence of major automotive manufacturers across the region. The presence of a well-established automotive ecosystem in Germany, comprising numerous suppliers, research institutions, and tech companies, facilitates the development and production of advanced automotive electronics. This ecosystem supports the continuous advancement of PCB technology, ensuring that manufacturers have access to the latest and most efficient components. Furthermore, the market in the UK, on the other hand, is expected to grow at the fastest rate over the forecast period.