Automotive PCB Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Automotive PCB Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automotive PCB Global Market Report 2024, The automotive PCB market size has grown strongly in recent years. It will grow from $9.49 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased electronic content in vehicles, autonomous and semi-autonomous driving, efficiency and weight reduction, demand for advanced infotainment, globalization of automotive supply chains, R&D and innovation.

The automotive PCB market size is expected to see strong growth in the next few years. It will grow to $14.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing complexity of ads, digital cockpit evolution, v2x communication, increasing demand for compact electronics, shift to advanced materials, supply chain resilience and localization. Major trends in the forecast period include autonomous driving technologies, smart manufacturing and industry 4.0, miniaturization and integration, flexible and rigid-flex PCBs, AI and machine learning integration.

The rise in demand for hybrid electric vehicles and battery-operated electric vehicles is expected to propel the growth of the automotive PCB market. PCBs play a major role in the automotive industry, as they are essential for the functionality of sensors and other components in the automobile. The growing sales of electric vehicles and battery-operated electric vehicles are directly impacting the demand for automotive PCBs. According to a study by JP Morgan, by 2025, EVs and HEVs will account for an estimated 30% of all vehicle sales. Therefore, the rise in demand for hybrid electric vehicles and battery-operated electric vehicles is driving the growth of the automotive PCB market.

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The automotive PCB market covered in this report is segmented –

1) By Type: Double-Sided PCB, Multi-Layer PCB, Single-Sided PCB

2) By Vehicle Type: Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Internal Combustion Engine (ICE) Vehicles

3) By Application: ADAS and Basic Safety, Body, Comfort, and Vehicle Lighting, Infotainment Components, Powertrain Components

4) By End User: Economic Light Duty Vehicles, Luxury Light Duty Vehicles, Mid-Priced Light Duty Vehicles

Major companies operating in the automotive PCB market are focusing on developing advanced heterogeneous integrated solutions to meet the increasing demands for enhanced connectivity, performance, and reliability in vehicle electronics. Advanced heterogeneous integrated solutions entail the incorporation of diverse technologies and components into a unified system, enhancing performance, connectivity, and reliability across various applications. For instance, in June 2022, PCB Technologies Ltd., a US-based printed circuits and assembles electronic devices company, launched iNPACK, an advanced form of heterogeneous integration emphasizing high-end technology to enhance signal integrity and minimize undesired inductance impacts. Achieved through potent components for expanded functionality and employing embedded coins for effective heat dissipation, iNPACK offers diverse solutions such as SiP, semiconductor packaging, organic substrates (with 25-micron lines and spacing), as well as 3D, 2.5D, and 2D packaging solutions. Its applications span various demanding sectors such as aerospace, defense, medical, consumer electronics, automotive, energy, and communications.

The automotive pcb market report table of contents includes: