Automotive PCB Market is Projected to Reach USD 25.6 Billion by 2031, Rise in Adoption of Mobility 4.0 Gains Traction: Transparency Market Research

Wilmington, Delaware, United States, June 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive PCB market size stood at US$ 13.2 Bn in 2022 and is expected to be valued at US$ 25.6 Bn by 2031. The global industry is projected to develop at a CAGR of 7.7% between 2023 and 2031. Increasing market demand for next-generation automobiles and growing adoption of Mobility 4.0 are anticipated to propel the automotive PCB industry growth.

Connecting the electrical systems in vehicles can be done using printed circuit boards (PCBs), which are compact, affordable, and dependable. Increased use of CASE automotive technology is projected to fuel market development.

Manufacturers of automotive PCBs are expected to benefit from the advent of semi-autonomous and autonomous automobiles. Performance and dependability of automotive PCBs are enhanced by investments by key manufacturers in the R&D of novel materials and technology.

In the automobile sector, PCBs are frequently utilized for various tasks, including managing the gearbox, infotainment, lighting systems, and other electrical parts. They offer a compact, affordable, and dependable connection option for automotive electronics. Circuit boards for automobiles must also survive extreme temperatures and vibration. Consequently, they demand unique design considerations and premium components.

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Market Snapshot:

Key Findings of Market Report

• In terms of type, the single layer segment is anticipated to account for prominent market share between 2023 and 2031. PCBs with a single layer are less expensive than PCBs with several layers. Wipers, electronic throttle systems, and lights, all employ PCBs. Usage of single layer PCBs is expected to increase in the coming years due to rise in sales of both commercial and passenger vehicles.
  
  
• In terms of application, the ADAS segment is expected to lead the global market. Integration of ADAS (Advanced Driver Assistance Systems) in automobiles is likely to be influenced by the implementation of different vehicle safety standards.
  
  
• PCBs are essential to the operation of ADAS in automobiles. In addition to communicating with various electronic units in a vehicle, they are utilized to manage and analyze data from cameras and sensors.
  

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Global Automotive PCB Market: Growth Drivers

• The automobile industry is making rapid progress toward the new Mobility 4.0, which is defined by the incorporation of cutting-edge technology such as autonomous vehicles, the IoT (Internet of Things), and artificial intelligence.
  
  
• The goal of Mobility 4.0 is to develop efficient, smart, and sustainable transportation systems. The advent of Mobility 4.0 and use of cutting-edge technologies in the automotive sector are expected to drive market development.
  
  
• Consumers want transportation options that are more individualized, effective, and practical. These features are available in next-generation automobiles. Adoption of electric and hybrid cars is being promoted by governments through subsidies and incentives. These rewards are meant to encourage sustainability, reduce reliance on fossil fuels, and enhance air quality. These factors are anticipated to accelerate market development in the coming years.
  

Global Automotive PCB Market: Regional Landscape

• Asia Pacific is expected to have account for leading share of the global market from 2023 to 2031. Market expansion in Asia Pacific is driven by the presence of leading manufacturers and an increase in sales of passenger vehicles in the region.
  

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Global Automotive PCB Market: Key Players

Some of the key players in the global automotive PCB market are as follows

• Delphi Technologies (BorgWarner Inc.)
• Samsung Electro-Mechanics
• Chin Poon Industrial Co., Ltd.
• Nippon Mektron, Ltd.
• Daeduck Electronics Co., Ltd
• Meiko Electronics Co., Ltd.

Global Automotive PCB Market: Segmentation

Type

• Single Layer PCB
• Double Layer PCB
• Multilayer PCB
  

Fuel Type

• IC Engine
• Electric

Application

• ADAS
• Body & Comfort
• Infotainment
• Powertrain
• Others
  

Vehicle Type

• Minicompact
• Supermini
• Compact
• Mid-size
• Executive
• Luxury
• Utility Vehicle
  

Level of Automation

• Level 1
• Level 2
• Level 3
• Level 4
• Level 5
  

Substrate

• Rigid
• Flexible
• Rigid Flex
  

Sales Channel

• OEM
• Aftermarket

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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