Authored By: Sarah
11 Jul 2024

 Printed Circuit Board (PCB) Market Size to grow by USD 29.06 billion between 2024-2028

According to a research report “ Printed Circuit Board (PCB) Market” by End-user (Communication network infrastructure, IT and peripherals, Automotive, Consumer electronics, Others) Type (Multi-layer, HDI, Single sided, Double sided) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 29.06 billion, at a CAGR of over 6.6% during the forecast period. The global smartphone market is experiencing significant growth due to increasing Internet penetration and the availability of affordable devices in developing countries like India and China. With the evolution of smartphone technology from 4G LTE to 5G, RF front ends have become more complex, necessitating larger PCBs for MIMO antenna arrangements. Additionally, the exponential growth in data processed by 5G systems is driving the need for increased battery capacity. To address these challenges, HDI PCBs are being developed with thinner, smaller, and more intricate processes to achieve higher density and a reduced form factor. This trend is expected to continue as the demand for advanced electronic devices persists.

Browse market data tables, figures, and in-depth TOC on “Printed Circuit Board (PCB) Market” by End-user (Communication network infrastructure, IT and peripherals, Automotive, Consumer electronics, Others) Type (Multi-layer, HDI, Single sided, Double sided) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample


By End-user, the Communication network infrastructure segment is projected to dominate the market size in 2024

In the dynamic landscape of the global Printed Circuit Board (PCB) market in 2023, multi-layer PCBs maintain a dominant position due to their inherent advantages of flexibility and complexity. These advanced PCBs consist of multiple layers of substrate material interconnected by conductive channels. The surging demand for compact and high-performance electronic devices across industries such as telecommunications, automotive, and consumer electronics is driving the market for multi-layer PCBs. Notably, smartphones represent a significant application area for multi-layer PCBs, necessitating space optimization and intricate electronics. Furthermore, advanced networking equipment, including routers and servers, heavily rely on multi-layer PCBs to enhance functionality. In the automotive sector, electronic control units (ECUs) benefit from the compact design of multi-layer PCBs, enabling efficient performance in confined spaces.

By Type, Multi-layer  segment is expected to hold the largest market size for the year 2024

The global Printed Circuit Board (PCB) market is poised for significant growth due to positive trends in mobile broadband and big data management. Network operators are focusing on providing faster data connectivity, high-definition video streaming, and a broad range of multimedia applications to their customers. With the widespread adoption of 4G networks and the transition towards 5G in developed economies like the US, the communication network infrastructure segment is set to expand. This growth will be driven by the increasing demand for enterprise network equipment, wireline network equipment, subscriber equipment, and cable/multiservice operator equipment, all of which rely on PCBs for their proper functioning.

APAC is forecasted to hold the largest market size by region in 2024

The APAC PCB market is projected to experience robust growth during the forecast period, driven by the expanding demand for electronics in sectors such as automotive, aerospace, and electronics and electrical industries in developing economies, including China and India. Key contributors to the region's market revenue in 2023 were China, Taiwan, South Korea, and Japan. Industrial development in countries like China, India, South Korea, Indonesia, and Taiwan will necessitate significant automation, further fueling the market's expansion. The increasing disposable incomes in these countries are also anticipated to boost demand for automobiles and electronic and electrical devices.

The Printed Circuit Board (PCB) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • APCT
  • China Circuit Technology Shantou Corp.
  • Compeq Manufacturing Co. Ltd.
  • Dynamic Electronics Co. Ltd.
  • Ibiden Co. Ltd.
  • Jabil Inc.
  • Murrietta Circuits
  • Shenzhen Kinwong Electronic Co. Ltd.
  • Shenzhen SenYan Circuit Co. Ltd.
  • Shenzhen Zhongxinhua Electronics Co. Ltd.
  • Sumitomo Electric Industries Ltd.
  • TTM Technologies Inc.
  • Victory Giant Technology
  • Vishal International
  • Wonderful PCB
  • Zhen Ding Technology Holding Ltd.

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Research Analysis Overview

The Printed Circuit Board (PCB) market is experiencing significant growth due to the increasing demand for electronic devices in various industries. Fiberglass and composite epoxy are commonly used materials in the production of rigid PCBs, while flexible circuits are made from materials like tripple-A-processed polyimide film. Transistors, PLCs, electrolytic capacitors, resistors, integrated circuits, and other electronic components are essential elements of PCBs. These boards are used extensively in telecommunication infrastructure, consumer electronics, and industrial automation. Key players in the PCB market include Shennan Circuits, Compeq, Unimicron, and others. Rigid flex PCBs and flexible circuits are gaining popularity due to their versatility and ability to withstand harsh environments. The consumer electronics sector, including cameras, smartphones, and artificial intelligence devices, is a significant contributor to the growth of the PCB market. The Internet of Vehicles, Internet of Things, 5G, and other emerging technologies are also driving demand for advanced PCBs. IC substrates are a critical component of PCBs, particularly in the production of advanced electronic devices. The future of the PCB market looks bright, with continued innovation and advancements in technology expected to fuel growth.

Market Research Overview

The Printed Circuit Board (PCB) market encompasses a wide range of applications, from electronic equipment in various industries to consumer electronics. PCB reliability is a critical factor in ensuring the longevity and functionality of these devices. Electrical property degradation due to high-power electrical devices, mechanical stress, and thermal stability are key challenges in PCB production. Foundation materials like epoxy resin and glass cloth, such as FR-4, are used to create rigid PCBs. Automation machinery, including industrial robots, plays a significant role in PCB production, enabling mass production and increasing efficiency. High-temperature performance and thermal insulation properties are essential for PCBs used in industrial and automotive applications. The flame-retardant nature and mechanical strength of PCBs are crucial for safety reasons. The market for PCBs is vast and diverse, with applications ranging from telecommunication infrastructure and industrial automation to consumer electronics like smartphones, tablets, and computers. Companies like Quanta Computer, Shennan Circuits, Tripod, Compeq, Unimicron, and semiconductor plants are major players in the PCB industry. PCBs are used in various sectors, including automotive applications like antilock brake systems, power relays, and engine timing systems. In the medical field, PCBs are used in medical devices and implants. The rise of the Internet of Things (IoT) and 5G technology has led to an increase in demand for PCBs in smart devices and communications equipment. PCBs are also used in high-tech industries like artificial intelligence and the semiconductor market. However, concerns over the environmental impact of brominated flame retardants and the use of heavy metals like cadmium, mercury, and lead in PCB production have led to efforts to develop alternative materials and production methods, such as 3D printing and flexible circuits. In summary, the PCB market is diverse and dynamic, with applications ranging from industrial and automotive to consumer electronics. PCB reliability, thermal stability, and mechanical strength are critical factors in ensuring the longevity and functionality of these devices. The industry is constantly evolving, with new technologies and production methods emerging to meet the demands of various sectors.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

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