How Electronic Vehicles popularity influences Automotive Printed Circuit Board market Growth?
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), by product (single side PCB, flexible PCB, and multi-layer PCB), vehicle (passenger car, light commercial vehicle, and heavy trucks), and by geography (APAC, Europe, Latin America, MEA, and North America).
The global automotive printed circuit board market is expected to reach more than $14 billion during 2018-2024.
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PCBs Pertinence for Vehicle Safety
The safety features such as rear-facing cameras, departure warning systems, seatbelt indications, and automated parking among other driver assistance systems are witnessing a considerable rise in demand. To reduce the error ration, manufacturers have introduced multiple effective automotive printed circuit board at a competitive price in the market. Further, partnering with OEMs and other manufacturers to deliver cost-effective and reliable PCBs for automobiles is expected to hold the key to grow in the coming times.
Advent of New Energy Vehicles
China, Japan, US, Canada, and India are set to Grow the Consumption of Electronic Vehicles by 2030
The high degree of electronification is driving the demand for the automotive printed circuit board in the automotive industry. The unique powertrain system in the vehicle is set to drive the demand for the automotive printed circuit board in the new energy vehicles in the coming years. In 2018, China was the largest market for electric cars globally. It is expected to witness an increase in the penetration of new energy vehicles by 5%-6% during 2017-2020. Further, improved infrastructure, augmented government initiatives for preserving traditional fuel consumption and launch of more eco-friendly vehicles on the roads are expected to support the growth of the electronic vehicles, thus driving the automotive printed circuit board market.
Leveraging Robust Advanced Driver Assistance System (ADAS) Potential
ADAS comprises of automatic parking, adaptive cruise control, driver monitoring system, collision advance system, EV warnings, lane centering, emergency assistant, intersection assistant, pedestrian protection system, wrong-side warning, and traffic sign recognition among others. Currently, the automotive millimeter radar is under rigorous development stage and is set to become a prominent feature. With an increase in average number of millimeter-wave radars, the demand for the automotive printed circuit board is also expected to go up significantly in the coming years.
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Chin Poon, CMK Corporation, KCE Electronics, Meiko Electronics, TTM Technologies, NOK, Kingboard Holdings, Tripod Technology are the key vendors of the global automotive printed circuit board market.
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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