Printed Circuit Board Market will be Massively Grow at 5 % CAGR During 2022–2030
Global printed circuit board market share will grow at a notable rate over the coming years with the robust demand for advanced technologies, such as robotics and industrial automation.
Global printed circuit board market share will grow at a notable rate over the coming years with the robust demand for advanced technologies, such as robotics and industrial automation. A wide range of sectors benefit from these technologies to increase productivity, enhance reliability, and decrease operational costs.
PCBs are mainly used to connect several electronic components with the help of conductive tracks and pathways. Autonomous driving systems have gained immense traction in recent years. Driverless cars rely heavily on PCBs to execute various innovative features, such as blind-spot detection, drowsy-driver alert system, and automatic emergency braking system. This greatly enhances driver safety and overall driving experience.
It is estimated that global printed circuit board market size will surpass USD 120 billion by 2030. Discussed below are a few of the major trends fueling the component production.
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Double-sided PCBs to witness strong demand:
Global double-sided PCB market will grow at a healthy pace in the future. These PCBs have circuit traces on both sides, which make them more suitable for applications that have a higher level of complexity. They are also eco-friendly, cost-effective, and offer more flexibility to designers.
Since the demand for compact circuit boards is increasing, double-sided PCBs can reduce the overall board size. This helps companies save on manufacturing costs, further improving their adoption.
Rigid-flex PCBs will find wide usage in smartphones:
Rigid-flex substrates will capture a sizeable share of global PCB industry. These PCBs use a combination of rigid as well as flexible substrates. Rigid-flex PCBs are especially useful in designs that involve fitting the board in tight and compact spaces.
These PCBs can increase the reliability and integrity of circuit boards, making them less prone to mechanical failures. The trend of foldable smartphones is growing at a notable rate, which could influence the use of rigid-flex PCBs.
Role of PCBs in healthcare sector:
Global printed circuit board market size from the healthcare applications will register an appreciable growth rate over the coming years. The healthcare industry is experiencing digitization, with medical devices being integrated with smarter technologies to improve the quality of diagnosis and treatment.
The incidence of cardiovascular diseases is growing at a worrying rate in emerging economies and several nations across the Asia Pacific. As per reports, the percentage of cardiac ailments in India is 2–3 times higher than that of western nations. This will boost the demand for pacemakers to monitor a patient’s heart rate, which represents the need for integration of PCBs in medical devices.
Europe PCB market share expands with rising EV demand:
Europe PCB industry revenue will increase considerably as the region is considered one of the leaders in technological advancements. The region was one of the first to embrace autonomous driving technologies, with automakers conducting continuous R&D to make driverless cars a reality.
The demand for electric vehicles is increasing across Europe as customers and central authorities are taking important steps to reduce their carbon footprint. Regional government policies will play a vital role in bolstering the production of PCBs.
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For instance, Germany announced the extension of its current subsidies for EVs till 2025. The country, in 2020, doubled its incentives for EVs by offering bonuses worth USD 3,000 for fully electric vehicles. Some EV manufacturers in the region are also giving away USD 3,000 as stipend to buyers to propel their sales. Such initiatives will amplify the installation of PCBs to boost the efficiency of EVs.
Global printed circuit board market forecast will be positively affected by the large-scale digitization of various sectors, including automotive, healthcare, and IT & telecom. Companies, such as Unimicron Technology Corporation, DSBJ, TTM Technologies, AT&S, Sumitomo Electric Printed Circuits, Inc., and Tripod Technology, among others, are the reputed PCB makers.
Partial Chapter of the Table of Content
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.2 Methodology & forecast
1.3 Data Sources
Chapter 2 Executive Summary
2.1 Printed circuit board market 3600 synopsis, 2018–2030
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 PCB type trends
2.1.4 Substrate trends
2.1.5 Application trends
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