Printed Circuit Board Market worth over $75bn by 2027

Printed Circuit Board (PCB) Market size is set to surpass USD 75 billion by 2027, according to a new research report by Global Market Insights, Inc.

The printed circuit board market growth is due to the rising penetration of robotics and automation across the manufacturing and process industries. The manufacturing and process industries are emphasizing on integrating Programmable Logic Controllers (PLCs), Human-Machine Interfaces (HMIs), automated assemblies, and cobots & industrial robots to increase their productivity. These automation equipment are installed with energy-efficient printed circuit board that offer a smaller footprint and higher temperature stability required for an industrial environment.


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Stringent regulations pertaining to the e-waste generated from printed circuit board are restraining the market expansion. Several regulatory bodies, such as Waste from Electrical and Electronic Equipment (WEEE) and RoHS Directive, have set stringent regulations and standards on PCB manufacturing. The hazardous materials used in printed circuit board such as lead (Pb), cadmium (Cd), mercury (Hg), and epoxy resins, do not degrade well and their presence in landfills may contribute to a large chunk of e-waste across the globe. Regulations have curbed the adoption of low-cost raw materials in the manufacturing of PCBs, further declining the profitability of PCB vendors in the market.

Rising demand for HDI PCBs in healthcare devices will spur the market demand

India Printed Circuit Board Market

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The High-Density Interconnect (HDI) segment in the printed circuit board market is anticipated to witness 5% growth rate till 2027. The HDI PCB provides several intuitive features such as higher Input/output (I/O) peripherals, low-power consumption, high-density, and compact footprint compared to other PCB types in the market. These PCBs incorporate around 120 to 160 pins-per-square-inch that provide denser circuitry by the compact placement of microelectronics. The low-power consumption and high miniaturization properties are increasing their acceptance in high-precision medical and healthcare devices such as implantable defibrillators and cardiac pacemakers.

Technological innovations in flexible PCBs will create the growth opportunities for market

The printed circuit board market from flexible substrate segment held more than 10% of the market share in 2020 led by several benefits offered by the flexible architecture such as broader design flexibility, robust temperature stability, and higher circuit density. The flexible architecture eliminates mechanical connectors and reduces assembly errors & cost reduction while manufacturing PCBs. These features increase its usage in consumer electronics devices, telecom servers, and avionics.

Market players are proactively focusing on the development and innovations in flexible printed circuit board to achieve a competitive advantage in the market. For instance, in March 2019, Trackwise Designs plc developed an 85-feet long multi-layered flexible printed circuit board with Improved Harness Technology (IHT). The printed circuit board is designed for parts of an Unmanned Aerial Vehicle (UAV) to control signals and distribute power. The new flexible PCB replaces conventional wire harness and delivers 60% weight reduction in UAVs. Such innovations are poised to drive the industry growth.

Browse key industry insights spread across 150 pages with 161 market data tables and 27 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) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:  


Growing electronic content in automotive will boost the market revenue

The automotive application in the printed circuit board market captured 15% of revenue share in 2020 and will grow at a CAGR of around 7% through 2027. In the automotive sector, PCBs are integrated into several vehicle electronics such as advanced safety systems, telematics, In-Vehicle Infotainment (IVI) systems, and instrument clusters, among others. The development of ADAS and autonomous-driving cars by major automotive OEMs will increase the adoption of PCBs over the forecast period. PCBs are also gaining traction from converters, inverters, and battery management units of Electric Vehicles (EV). Therefore, growth in EVs in the coming years will further enhance the market value.

Supportive government initiatives to impel the domestic semiconductor industry will foster the growth for North America region

The North America printed circuit board market is predicted to expands at a CAGR of 2.5% by 2027 on account of favorable government initiatives to fuel the domestic semiconductor manufacturing sector in the U.S. For instance, in June 2020, U.S. lawmakers proposed a USD 22.8 billion bill, which will support regional semiconductor manufacturers in R&D funding and tax benefits. The proposed bill will provide USD 10 billion federal funds for new plant expansion and USD 12 billion for research & development activities. Through this bill, the U.S. government focuses on reducing dependency on Asia Pacific countries, majorly China.

Key companies operating in the market include Sumitomo Electric Industries, Ltd., Nippon Mektron Ltd., Fujikura Ltd., Nitto Denko Corporation, Advanced Circuits Inc., Unimicron Technology Corporation, and TTM Technologies, Inc., among others. These industry leaders extensively focus on new product development and innovations to stay competitive in the market.

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