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PCB Market Surges: $75.85B in 2023 to $117.53B by 2032
6 Jan
Summary
- PCB market valued at $75.85 billion in 2023, projected to reach $117.53 billion by 2032.
- Automotive sector, especially EVs and ADAS, is a major growth driver for PCBs.
- Industrial automation and smart manufacturing significantly boost PCB demand.
The global printed circuit board (PCB) market is poised for substantial expansion, projected to grow from $75.85 billion in 2023 to $117.53 billion by 2032, with a CAGR of 4.99%. This growth is propelled by the ever-increasing demand for electronic devices across consumer, automotive, industrial, and medical sectors. Advanced technologies are enabling more sophisticated and compact electronic assemblies.
The automotive industry, particularly electric vehicles and advanced driver-assistance systems, represents a significant growth engine for PCBs. Modern vehicles require highly reliable PCBs for electronic control units, battery management, and infotainment systems. Concurrently, industrial automation and Industry 4.0 initiatives are boosting demand for durable, high-precision PCBs essential for robotics, sensors, and IoT systems.
Technological innovations such as high-density interconnects and advanced substrate materials are critical. While the Asia-Pacific region remains a manufacturing hub, North America and Europe focus on high-value sectors. Challenges like raw material price fluctuations and environmental regulations are being navigated through innovation and sustainable practices.
