APAC to emerge as largest market for automotive PCB Manufacturers
Arizton’s recent research report on the global automotive PCB market provides comprehensive industry analysis, trends forecasts, and competitive analysis. The research study segments the market by application (interior components, engine control components, powertrain components, and vehicle lighting & safety), product (single side PCB, flexible PCB, and multi-layer PCB), vehicle (passenger car, light commercial vehicle, and heavy trucks), and geography (APAC, Europe, Latin America, MEA, and North America).
The global automotive PCB market is expected to reach over $14 billion during the period 2018–2024.
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Automotive PCB market in APAC is expected to grow steadily over the forecast period
APAC is expected to maintain its position in the automotive PCB market due to a strong automobile demand and electrification of vehicles. Automotive PCB manufacturers are expected to focus on industrial automation and robotics to keep up with changing technological requirements for OEMs and Tier-1 suppliers and maintaining the production cost to achieve profitability. Business operations of PCB manufacturers will shift from labor driven operating model to an automation driven model. In China, the automotive industry is the largest consumer of industrial automation and robotics accounting for 45% of Chinese robotics market, followed by the electronics industry. Hence, the domestic and export market for automotive PCB in APAC is expected to grow steadily over the forecast period.
Growing demand for improved interiors will boost demand for automotive PCB
Interior components are one of the fastest-growing segments. Manufacturers have been actively investing in introducing advanced interior components due to the growing emphasis on safety and increasing the driving experience. Driver assistance and safety systems applications such as BSD, FCW, surround-view systems, LDWS, and NVS, are leading to an increased demand for automotive PCB. Thus, the increased application of electronic components safety solutions in vehicles is expected to boost the demand for automotive PCB in interior components. Further, as the market is shifting toward high-end infotainment systems, the demand for PCS in infotainment applications is expected to drive the market.
The automotive PCB market is expected to gain traction in North America
The automotive PCB market in North America is likely to cross $460 million in 2024. North America has been at the forefront in the adoption of hybrid and electric vehicles; the region is expected to become one of the largest markets for hybrid vehicles and electric vehicles by 2050. As the number of electric and hybrid powertrain-based vehicles increases, the demand for advanced electronics is expected to grow. Flexible PCBs are the most advanced variants in the global automotive PCB market. They have a strong signal quality and a high circuit density, which is increasing their adoption.
Chin Poon, CMK Corp., KCE Electronics, Meiko Electronics, TTM Technologies, NOK, Kingboard Holdings, Tripod Technology are the key vendors of the global automotive PCB market.
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The complete overview of the latest market research report on the global automotive PCB market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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