This research report on the automotive PCB market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by applications (interior components, engine control components, powertrain components, and vehicle lighting and safety), products (single side, flexible, and multi-layer), vehicle (passenger car, light commercial vehicle, and heavy trucks), and geography (APAC, Europe, Latin America, MEA, and North America).
The growing installation of in-vehicle Infotainment (IVI) systems is expected to push the demand for flexible printed circuit boards
The increased adoption of Advanced Driver Assistance Systems (ADAS) is driving the automotive printed circuit board (PCB) market. The utilization of printed circuit boards in ADAS systems is expected to witness significant traction in the coming years. Hence, vendors catering to the global automotive PCB market are eyeing to capitalize on this growing trend of ADAS installation in vehicles in the coming years.
Consistent electronic innovations in vehicle production are bound to increase the uptake of printed circuit boards in vehicles. Upgrades in technology to revamp the entire automotive manufacturing process are changing the PCB integration dynamics. With the increased focus on safety and smooth transmission of controls, the industry is installing printed board circuits significantly. This has driven the growth in PCB designing in cars.
Further, the launch of new electric vehicles is expected to drive the demand for printed circuit boards. China is expected to witness an increase in the penetration of new energy vehicles by 5−6% during 2017−2020. Hence, the introduction of electric cars is likely to derive the adoption of printed circuit boards during the forecast period.
In-vehicle infotainment systems are gaining prominence in the automotive PCB market. They help the user to sift a range of facilities such as music, video, and TV streaming, weather and news updates, Bluetooth connectivity, internet surfing, navigation and GPS, and accessing to a range of applications. Further, the growing installation of in-vehicle Infotainment (IVI) systems is expected to push the demand for flexible printed circuit boards. It is expected that by 2025, over 85% of the passenger vehicles are expected to install IVI Systems.
Digitalization of printed circuit board design simulations is emerging as a major concept in the global market. It ensures an effective prototype preparation before actual implementation is integrated into the simulation of the design process. Also, the electrification of engine mechanism and propulsion technologies is further expected to drive the automotive PCB market during the forecast period.
The global automotive PCB market is expected to reach more than $14 billion by 2024.
This market research report includes detailed market segmentation by applications, products, vehicles, and geography.
Insights by Products
Flexible circuit boards are the most advanced one that offer improved reliability and impedance controls
The single-side PCB segment captured the largest portion of the automotive PCB market in 2018. Printed circuit boards have gained prominence due to their cost efficiency and simple manufacturing. The extensive use of single side circuit boards in electronics such as automotive lighting systems, wiper systems, and electronic throttle modules is likely to propel the growth of the PCB market. Countries such as China, Taiwan, and South Korea are the largest producers of single side printed circuit boards.
Multi-layer and flexible printed circuit boards are expected to witness considerable growth during the forecast period. The adoption of multi-layer PCBs is likely to increase soon due to the increasing assembly density in the interiors of the vehicle. Similarly, flexible PCBs are the most advanced ones that offer improved reliability and impedance controls. They also help in strengthening the signal quality and provide robust operating temperature range in the vehicle. Although the segment is observing high adoption, the percentage share is likely to decline due to the high cost of flexible printed circuit boards.
Insights by Applications
The interior components segment is witnessing the growth due to emphasis on safety regulations and enhanced driving experience.
The growing demand for dashboard switches, stereo and audio components, digital screens and display systems, onboard radar systems, navigation systems, and onboard diagnostics has fueled the market for interior components. The interior components segment was the largest segment in the automotive PCB market in 2018. With the growing emphasis on safety regulations and enhanced driving experience, auto manufacturers are actively investing in developing advanced interior components. The APAC region was the most significant interior component market in 2018 and is likely to continue its hold on the market during the forecast period.
Engine control components comprise anti-lock braking systems, ECU control units, electronic fuel injection systems, and automated locking systems, among others. The segment was the second-largest contributor to the automotive printed circuit board market. As the automotive industry is increasingly shifting from mechanical operations to electrical mechanisms to achieve fuel efficiency and performance, the use of electrical control units (ECU) is growing. Hence, the rise in the usage of ECUs is bound to increase the usage of processors and semiconductors, which indirectly will affect the growth of automotive printed circuit board market.
The automotive PCB market by powertrain components is expected to grow at a CAGR of over 7.5% during the forecast period. Powertrain components are witnessing high adoption in hybrid and all-electric vehicles, thereby increasing the demand for printed circuit boards. Further, increased regulations on fuel emission norms is driving OEMs and tier I suppliers to focus on the electrification of powertrain components.
Insights by Vehicles
The increased focus on safety regulations in passenger vehicles is the primary reason for the increased use of printed circuit boards
The passenger cars segmented accounted for more than half of the share in 2018. The increased focus on safety regulations across passenger vehicles is the primary reason for the increased use of printed circuit boards. The APAC region is expected to lead the passenger cars segment by 2024. Further, factors such as rigorous urbanization, supportive regulations, rising consuming class, and favorable economic outlook for emerging countries in the region are expected to drive the demand for automotive production.
Insights by Geography
The increasing demand for electric vehicles in Germany, the UK, and France is a significant driver for the growth in Europe.
The APAC region, which consists of China, Japan, South Korea, and Taiwan, is witnessing a high surge in automotive production due to the availability of low labor and logistical costs. Enhanced production capacities, the rise of digitalization, and the consistent investment in the automotive industry are expected to drive the automotive printed circuit board industry in the region. Further, the domestic and export market for the printed circuit boards in APAC is expected to grow steadily over the forecast period.
The increased penetration of electric and hybrid vehicles in the US and Canada has made North America the second-largest geographical segment in the global automotive PCB market. The increasing demand for electric vehicles in Germany, the UK, and France is one of the major drivers for the growth in Europe.
Brazil is the leading market in the Latin America region. However, political unrest in Venezuela, the dwindling Brazilian economy, and the vulnerability to natural disasters are likely to affect the growth in the Latin American region. Further, the MEA region is experiencing substantial growth as vendors are expanding their operational base.
Key Profiled Countries
Key Vendor Analysis
The automotive PCB market is highly competitive. The margin for error is extremely loss due to the stringent regulatory standards followed in the automotive sector and its ancillary components. However, the leading 5-6 vendors constitute the majority of the share in the market, which has led to moderate fragmentation. Also, the competitiveness is expected to intensify further with an increase in product/service extensions, technological innovations, and M&As. Global players are likely to grow by acquiring regional or local players in the future. Further, companies with better technical and financial resources can develop innovative products to kill the competition. Therefore, vendors are expected to develop new technologies and remain abreast with upcoming technologies to have a competitive advantage over other vendors.
Other Vendors are A-Flex, Amphenol, AT&S or Austria Technologie&Systemtechnik, Cisel, Daeduck Electronics, ELNA, Elvia PCB, Genus Electrotech, GUH Holding Berhad, Kyoden, Liang Dar Technology, Multek, RayMing Technology, Ronak Circuits, Schweizer, Shirai Electronics Industry, SOMACIS, Super PCB, TPT (Taiwan PCB Techvest), Unimicron, Unitech,and WUS Printed Circuit
Key Market Insights
The analysis of the automotive PCB market provides sizing and growth opportunities for the forecast period 2019–2024.
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