Automotive PCB Market is Anticipated to Worth Over $13 Billion by 2023
Arizton’s recent market research report on the automotive PCB market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by application (interior components, engine control components, powertrain components, and vehicle lighting & safety), by product (single side PCB, flexible PCB, and multi-layer PCB), and by geography (APAC, Europe, Latin America, MEA, and North America).
The automotive PCB market is projected to reach revenues of more than $13 billion and is anticipated to grow at a CAGR of over 8% during the forecast period. The growing demand for powerful semiconductors for hybrid and electric vehicles, advanced driver assistance systems (ADAS), infotainment systems, and telematics is propelling the growth of the automotive PCB market. The rapid advances in technology and increasing awareness of connected devices will lead to the development of the global automotive PCB market.
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The top 3 drivers and trends driving the automotive PCB market are discussed below:
Increasing Demand for Vehicles with Infotainment Systems
The growing adoption of advanced features such as telematics and infotainment systems in mid-range vehicles like hatchbacks and light commercial vehicles will propel the demand in the automotive PCB market. The vendors are focusing on launching cost-effective systems for smaller cars and commercial vehicles. The growing demand for personalized entertainment, navigation, and connectivity is redefining the infotainment systems and the development of new innovative systems. The development of these state-of-the-art infotainment systems will create new opportunities for the leading vendors in the global automotive PCB market. The companies are leveraging technology to introduce smartphone-based solutions to meet the growing demand and gain a larger market share in the global automotive PCB market.
Growing Demand for Connected Cars
The innovations in automotive digital technology which primarily focused on optimizing the vehicles internal functions will drive the growth of the global automotive PCB market. The prominent players are focusing on developing the car’s ability to connect with other vehicles and devices to enhance the driving experience. Such development efforts to introduce superior systems will create a demand for automotive PCBs in the global market. The automotive manufacturers and mobile operators are collaborating to deploy network technologies that will support high-bandwidth connectivity and enable remote management of the vehicle with the SIM card. The introduction of connected vehicles will ensure optimization of vehicle operations, maintenance, and enhance the convenience, and comfort of the passengers. The growing demand for integrated circuits to establish a connection and communication with other devices will augment the growth of the global automotive PCB market.
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Shifting End-user Focus on High Heat Resistance Flexible and Rigid-Flexible Circuit Boards
The growing preference towards lightweight materials, engine downsizing, and compact vehicle structure to achieve higher fuel efficiency are propelling the growth of the automotive PCB market. The leading PCB manufacturers are focusing on developing materials that provide high-temperature resistance properties and performance stability to meet the growing requirements from the end-users in the global automotive market. The growing demand for lightweight and flexible components to adjust the space constraints in the vehicle is driving the growth of the high heat resistance flexible and rigid-flexible circuits boards in the global automotive PCB market. In 2014, DuPont launched Pyralux HT flexible circuit material that can withstand extreme temperatures ranging from -104°F to 437°F.
The leading vendors in the automotive PCB market are TTM Technologies, Chin Poon Industrial, Meiko Electronics, CMK Corporation, and KCE Electronics.
The complete overview of the latest market research report on automotive PCB market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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