The PCB Market size is anticipated to cross USD 120 billion by 2030, according to latest research report by Global Market Insights Inc.
The increasing integration of PCBs in smart electronic medical devices as a major growth driver influencing the industry landscape. The emergence of public health hazards such as COVID-19 and monkeypox has attracted significant government investments towards the expansion of existing healthcare infrastructure, leading to the development of new healthcare facilities. The rising requirement for advanced medical devices such as ultrasonic equipment, imaging systems, MRI machines, etc., foster the printed circuit board market demand by 2030. In addition, the emerging trends of wearable monitoring devices will aid the business statistics.
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Low-cost production to spur the demand of single-sided PCBs
According to the report, the single-sided printed circuit board market accounted for more than 15% of the revenue share in 2021 and is expected to register further progression during 2022-2030. These types of PCBs have a basic, simple, less complicated design configuration, enabling higher volume manufacturing at faster rates. The lost-cost expenses involved in the fabrication and manufacturing of these PCBs translates into their wide range of application in several products in the electronics industry, fostering product requirement.
Expansive application avenues to propel the demand for flexible PCBs
With respect to the substrate, the report anticipates the flexible printed circuit board market to expand at over 8% CAGR through 2030 . The sector growth can be credited to the expansive range of applications of flexible PCBs in several end-use industries, including aerospace, military, automotive, medical, transportation, communication, and many more. Printed circuit board with flexible substrates offer a number of benefits such as cost-effective manufacturing, easy integration, and the ability to adjust according to the electronic structure, which helps them gain a competitive edge in their counterparts.
Emerging automation and digitization trends in the industrial sector
Based on application, the industrial segment to capture an appreciable revenue share, exhibiting an estimated growth rate of about 5% from 2022 to 2030. The surging digitization and automation trends in and around the manufacturing sector have pushed the demand for advanced manufacturing, measuring, and powering equipment. The development and production of such equipment require durable and high-powered PCBs that are capable of handling extreme conditions throughout the industrial environment. Thus, the proliferation of the global manufacturing industry is likely to increase PCB adoption in industrial applications.
Browse key industry insights spread across 262 pages with 240 market data tables and 42 figures & charts from the report “Printed Circuit Board (PCB) Market Size By PCB Type (Single Sided, Double Sided, Multi-layered, High-Density Interconnect (HDI)), By Substrate (Rigid, Flexible, Rigid-flex), By Application (Consumer Electronics, Automotive, Healthcare, IT & Telecom, Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents
Technological advancements to fuel the regional landscape
The North America printed circuit board market accounted for USD 6 billion in 2021 and is likely to grow substantially by end of 2030. The growth is driven by the increasing utilization and espousal of progressive technologies like AI, machine learning, and robotics in the manufacturing sector. Moreover, the positive outlook of the industrial sector and the subsequent demand for advanced automated solutions will help the PCB industry gain momentum in the region.
Competitive outlook to be defined by increasing strategic investments
The leading players in the printed circuit board market are Zhen Ding Tech. Group Technology Holding Limited, DSBJ, Unimicron Technology Corporation, TTM Technologies, Tripod Technology, and AT&S, among others, including Sumitomo Electric Printed Circuits, Inc., Fujikura Ltd., Nitto Denko Corporation, Nippon Mektron, Ltd., and Würth Elektronik GmbH & Co. KG. Companies operating in the PCB market are making strategic investments in major OEMs to develop state-of-the-art products meeting the demand of the widely expanding consumer base.
For instance, in June 2021, AT&S infused USD 2,000 million to set up a new manufacturing plant in Malaysia. The establishment is anticipated to become the first facility in Southeast Asia, supporting the production of high-end PCBs and IC substrates and creating almost 5000 employment opportunities in the region through 2024.