Global Automotive PCB Market - 2022-2029

Market Overview

The global automotive PCB market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 5.2% during the forecast period (2022-2029).

The automotive industry has advanced from a purely mechanical framework to include electronic components. 150 electronic control units, mostly sensors and processors in the cockpit, may be found in a high-end car. The rise in acceptance of printed control boards is one such development in the automotive sector.

The term "printed circuit board," or "PCB," refers to a non-conductive material containing printed conductor lines. On the board, electronic components are attached and the traces connect the board's segments to form a working circuit or assembly. Printed circuit boards for vehicles are becoming increasingly common due to their many benefits and practicality.

Market Dynamics

The demand for electric vehicles in various emerging nations is expected to expand significantly and the demand for cutting-edge safety, convenience and comfort technologies in the automotive industry is also expected to increase. However, the expensive cost of PCBs may hinder the spread.

Extreme demand for electric vehicles in various developing regions

The total cost of ownership competitiveness of developing nations is gradually improving and government support in the form of grants or extended fiscal incentives to assist electric car customers are both elements that contribute to the expansion of electric vehicles. For instance, the introduction of price caps in China and Europe, which prohibit subsidies for cars with costs over a certain level, marked a considerable improvement in subsidy programs. The fact that BEV cars sold in China were 3% cheaper in 2020 than in 2019 and PHEV cars in Europe were 8% cheaper may help to explain why the average cost of an electric vehicle is declining in both China and Europe.

The PCB market has benefited from the huge increase in electric vehicles because it now plays a larger part in creating and operating cars, buses and other electrically powered vehicles. In addition, PCB is crucial for electric car power conditioning, battery performance and voltage conversion.

Improving demand for advanced safety, convenience and comfort systems in automotive industry

Numerous supplementary devices, including automotive PCB, have been produced due to the automobile industry's accelerated rate of development. Complex automotive printed circuit boards are needed for the growing number of computers in autos to operate effectively. As a result, the rising PCB demand will probably pave the way for the future expansion of the automotive PCB sector.

Furthermore, a computer-based operating system is necessary for all modern automobiles. These system designs revolve around PCBs, single-sided, double-sided, multilayer or another form. PCB has many uses, including safeguarding the board against elements that could harm it and jeopardize the vehicle's safety and functionality.

High costs of PCBs

A significant barrier to developing the product in the automotive industry is the high cost of particular types of PCB. For instance, FPCs have a higher initial one-time cost than conventional rigid PCB. Since flexible circuits are created for highly specific uses, they have higher starting expenses for circuit and prototype design than rigid PCBs.

Additionally, multilayer PCB is significantly more expensive than single and double-layer PCB at every level of the production process. They require a long time to design since they are sophisticated and any potential problems must be worked out. Additionally, it demands a very involved production process that takes the assembly team's time and effort to complete.

COVID-19 Impact Analysis

Due to the closure of several automotive businesses' facilities at the beginning of 2020, the coronavirus disease outbreak has severely impacted automotive PCB in many regions of the world. These negative consequences could also last, given the pandemic's protracted character, harming the business for the ensuing two to three years. The COVID-19 outbreak has severely and immediately impacted the worldwide automotive industry. Large-scale production interruptions emerge across Europe, Chinese part shipments are halted and American assembly plants are closing.

The automotive industry is experiencing significant technological and business model changes due to the four megatrends of connected, autonomous, electrified and shared drives. The COVID-19 epidemic is happening simultaneously with this transition and is straining the business. Suppliers from all around the world isolated or shut down production lines beginning in China. In addition, restrictions on commerce and law, such as closed borders, exacerbated the lack of vital components and constrained supply distribution in the automotive industry.

Segment Analysis

By application, the automotive PCB market is segmented into airbag controls, anti-lock brake systems, power steering, audio-video systems, climate control, engine-timing systems, ignition systems and others.

The rising compulsion for airbags in automotive

Numerous applications in modern cars rely on electronic control to function properly as the automotive industry moves steadily towards technological improvements and advancements. An airbag is a car occupant restraint system that uses a bag designed to inflate instantly in the event of a collision. An airbag's main function is to provide a car occupant with soft padding in the event of an accident and maybe save his life.

Electronic control circuits or PCBs for automotive applications provide dependable and superior performance. The airbag deployment rate sensor incorporates the circuit board, crucial for dissipating static charge and causing the airbag to deploy when necessary.

Geographical Analysis

The rise in demand for EVs in Asia-Pacific

Asia-Pacific is expected to experience the fastest growth rate in the automotive PCB market during the predicted time frame. Nearly 60% of the world's population resides in Asia-Pacific, also home to powerful developing nations like China and India. Because of activities related to growth, transportation and industrialization within the anticipated time range, these economies are expected to grow more quickly.

As a result of these trends, the demand for automobiles increased in Asia-Pacific, which led some governments in the region to order a few active and passive health features for automobiles. It helped the car PCB market growth in the region. To accelerate the rate at which EVs are purchased in the region, the legislators in the district are sponsoring EV buyers.

Competitive Landscape

Few big businesses control a sizable portion of the fragmented automotive PCB market. Businesses invest in R&D to create cutting-edge products and technology. For example, Lumax started by creating Printed Circuit Boards (PCBs), a crucial part of the vehicle lighting system. During the anticipated time, the joint venture will increase the range of products it offers by adding HVAC panels.

Major global automotive PCB market companies include RLX Soultions Inc., Millennium Circuits Limited, Imagineering Inc., NACB Group, OnBoard Circuits Inc., 3CEMS Group, A-Flex, Agile Circuit Co. Ltd., Aimtron Electronics Pvt., Ltd. and Alfatron.

NCAB GROUP

Overview: One of the companies making PCBs the fastest is NCAB Group, which has always strongly emphasized customer and market presence. The timeline shows the progression from PCB merchant to Integrated PCB Producer. The 1993-founded business is a major PCB provider. The company presently has consumers in about 45 countries globally and a local presence in 17 European, Asian and North American countries. Aerospace/Defense, Automotive, Datacom, Industrial, IoT, Medical, Power/Energy, Railway, Safety-critical and Telecom are the key service industries for the organization.

Product Portfolio: The business offers insulated metal base PCB and multilayer PCB. Multilayer PCBs are used in computers, medical equipment, in-car systems, GPS & satellite systems and industrial control systems. The insulated metal base PCB is a printed circuit board constructed from an aluminum or other metal plate and a specialized prepreg. Its key features include effective heat dissipation and good dielectric resistance against high voltages.

Key Development: On September 2nd, NCAB Group signed a contract to buy all American RedBoard Circuits, LLC shares. There are five employees at RedBoard Circuits. In 2021, it was projected to bring in about US$5 million in income. The deal is anticipated to increase NCAB's earnings per share in 2021. RedBoard Circuits will assist NCAB Group in achieving its objective of dominating U.S. PCB industry.

Why Purchase the Report?

• Visualize the composition of the automotive PCB market segmentation by type, substrate, fuel type, autonomous driving levels, application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the automotive PCB market by analyzing trends and co-development deals.
• Excel data sheet with thousands of automotive PCB market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players.

The global automotive PCB market report would provide access to an approx: 77 market data table, 88 figures and 212 pages.

Target Audience 2022

• Automotive PCB Providers/ Buyers
• Industry Investors/Investment Bankers
• Energy and Utilities & Research Institutes
• Emerging Companies
• Chemical Manufacturers