Automotive PCB Market to Reach USD 10.4 Billion by 2032 | Nippon Mektron, Meiko Electronics

The Automotive PCB market is projected to grow from USD 6.89 Billion in 2024 to USD 10.4 Billion by 2032.

NY, UNITED STATES, April 9, 2025 /EINPresswire.com/ -- The latest market research report on Automotive PCB Market released by Market Research Future suggests, Market Size was USD 6.5 Billion in 2023. The Automotive PCB market industry is projected to grow from USD 6.89 Billion in 2024 to USD 10.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.28% during the forecast period (2024 - 2032).

The automotive industry is undergoing a significant transformation, driven by advancements in electronic systems that enhance vehicle functionality, safety, and connectivity. At the heart of these electronic systems are Printed Circuit Boards (PCBs), which serve as the foundational components enabling the integration and operation of various automotive electronics. The increasing reliance on electronic components in vehicles has propelled the automotive PCB market into a phase of robust growth and innovation.

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Market Trends in Automotive PCB Market:

Electrification of Vehicles
The global shift towards electric vehicles (EVs) has markedly increased the demand for PCBs. EVs require complex electronic systems for battery management, power conversion, and motor control, all of which depend heavily on PCBs. In 2023, approximately 14 million electric cars were sold, representing a 35% year-on-year growth and accounting for 18% of total car sales.

Advanced Driver Assistance Systems (ADAS)
The integration of ADAS features, such as lane departure warnings, adaptive cruise control, and collision avoidance systems, necessitates sophisticated electronic architectures. These systems rely on high-performance PCBs to process data from various sensors and cameras, enhancing vehicle safety and driving experience.

Connected and Autonomous Vehicles
The rise of connected and autonomous vehicles has led to an increased need for PCBs that support complex communication networks and data processing units. These vehicles utilize PCBs to manage functions like vehicle-to-everything (V2X) communication, infotainment systems, and real-time data analytics.

Miniaturization and High-Density Interconnects
The trend towards compact and lightweight vehicle designs has driven the development of miniaturized PCBs with high-density interconnects. These advanced PCBs accommodate more functions within smaller spaces, contributing to overall vehicle efficiency and performance.

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Regional Analysis of Automotive PCB Market:

Asia-Pacific: Asia-Pacific dominates the global automotive PCB market, accounting for approximately 40% of the market share in 2023. This dominance is attributed to the presence of major automotive manufacturing hubs in countries like China, Japan, and South Korea. The rapid adoption of electric vehicles, government initiatives promoting green technologies, and substantial investments in automotive electronics are key drivers in this region.

North America: North America holds a significant share of the automotive PCB market, with the United States being a major contributor. The region is characterized by a high demand for advanced safety and infotainment systems, as well as a strong focus on research and development. The presence of leading automotive companies and technological advancements in vehicle electronics further bolster the market.

Europe: Europe's automotive PCB market is driven by the region's robust automotive industry and the push towards electric mobility. Countries such as Germany, France, and the UK are key markets, with stringent emission regulations and growing adoption of electric vehicles propelling demand for automotive PCBs.

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Key Players in Automotive PCB Market:

Leading market participants are investing heavily in research and development in order to spread their product lines, which will help the Automotive PCB market grow even more. Market participants are also undertaking a various strategic activities to spread their global footprint, with important market developments including new product launches, mergers and acquisitions, contractual agreements, higher investments, and collaboration with other organizations.

The automotive PCB market features several prominent players who contribute significantly to its growth and innovation:

• Nippon Mektron: A leading manufacturer known for high-quality flexible PCBs used in various automotive applications.
• Unimicron Technology Corp.: Renowned for delivering high-performance multi-layer PCBs, with a strong global presence across Asia and Europe.
• KCE Electronics: Based in Thailand, KCE Electronics is recognized for its comprehensive range of PCB products and commitment to sustainability. It is the largest manufacturer of printed circuit boards in Southeast Asia and among the top five global PCB suppliers for the automotive industry.
• TTM Technologies: One of the world's top five PCB manufacturers by revenue, TTM Technologies serves various industries, including automotive, with a significant presence in North America and Asia.
• Meiko Electronics: Provides state-of-the-art PCBs for automotive applications such as powertrains, safety systems, and ADAS.
• Chin Poon Industrial: A key player known for its investments in expanding factory operations to meet growing demand.
• CMK Corporation: A Japanese manufacturer specializing in automotive PCBs, contributing to the industry's technological advancements.

Recent Developments in Automotive PCB Market:

Infineon's Revised Sales Forecast: In June 2024, Infineon Technologies lowered its sales forecasts for fiscal 2024, citing challenges in the semiconductor market and a slowdown in the automotive industry, particularly in electric vehicle deliveries.

Chin Poon Industrial's Expansion: In May 2024, Chin Poon Industrial announced plans to invest an additional USD 27.3 million to expand its factory operations in Thailand, aiming to meet the increasing demand for automotive PCBs.

Passive System Alliance's New Factory: In September 2024, Passive System Alliance opened its largest PCB factory in Penang, Malaysia, to cater to the growing demand fueled by the AI boom and the US-China trade dynamics.

The automotive PCB market is poised for continued growth, driven by the electrification of vehicles, advancements in ADAS, and the emergence of connected and autonomous vehicles. Regional dynamics indicate strong market performance in Asia-Pacific, North America, and Europe, each influenced by local industry trends and government initiatives.

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