Market Research Future Insights
According to MRFR analysis, the global Automotive PCB Market is expected to register a CAGR of ~ 6% from 2021 to 2027 and hold a value of over USD 9.70 Billion by 2027.
The demand for convenience and comfort systems, as well as the increasing demand for hybrid electric vehicles (HEV) and battery electric vehicles, are the main factors projected to propel the market growth during the estimated period. These include increasing automobile production and sales, augmented incorporation of advanced safety features, some of which are mandated by governmental bodies, and increased auto production and sales (BEV).
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The market was harshly affected due to manufacturing shutdowns, lockdowns, and trade restrictions during the COVID-19 epidemic in the year 2020. Furthermore, the fall in automotive production and lack of labor meaningfully impacted the market. Since automotive manufacturers have resumed operations due to steadily increasing automobile sales in countries with a limited number of COVID-19 cases in the year 2021, the market is likely to recuperate during the forecast market. Furthermore, the manufacturers are implementing contingency plans to mitigate future business uncertainties to retain steadiness with clients in the critical sectors of the automobile industry.
Regional Analysis
Asia Pacific now has the mainstream PCB market share in the automotive sector. This market is expanding as a result of increasing passenger car and electric vehicle demand and production. The primary drivers of the PCB market for automotive in the Asia Pacific region are the increasing market share of high-tech electronics in vehicles, consumers’ rising purchasing power, and consumers’ high awareness of safety features in emerging nations.
Market Segmentation
The Global Automotive PCB Market has been segmented into Type, Application, and End-user
Based on Type, The Global Automotive PCB Market has been segmented into Single-Sided PCB, Multi-Layer PCB, Double-Sided PCB, and Others. The multilayer PCB category will grow at the fastest rate during the estimated period. The multi-layer PCB market is anticipated to be driven by increasing demand for high-tech electronics including windshield HUDs, camera modules, drive mode selectors, and enhanced telematics
Based on application, The Global Automotive PCB Market has been segmented into ADAS and Basic Safety, Body, Comfort, Vehicle Lighting, Infotainment Components, Powertrain Components, and Others. The ADAS and basic safety category will account for the largest share of the global market. The implementation of fundamental safety technologies like ABS, anti-lock brakes, and TPMS is mandatory by the regulatory agencies of many nations. The ADAS and Basic Safety segments of the automotive printed circuit board market are increasing as a consequence.
Based on End-user, The Global Automotive PCB Market has been segmented into Economic light-duty vehicles, luxury light-duty vehicles, and mid-priced light-duty vehicles. The luxury light-duty vehicle category is projected to be the largest in the global market. Luxury cars require a lot of PCBs since they typically have more sophisticated vehicle electronics features for improved comfort, convenience, and safety.
Key Players
Some of the key market players are SAMSUNG ELECTRO-MECHANICS, AT S Austria Technologies Systemtechnik Aktiengesellschaft, Unimicron Corporation, MEIKO ELECTRONICS Co. Ltd., NIPPON MEKTRON, LTD., Tripod Technology Corporation, TTM Technologies, Daeduck Electronics Co. Ltd., KCE Group, and CHIN-POON INDUSTRIAL CO. LTD.
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