Automotive Printed Circuit Board Market Is Likely To Witness Huge Growth
Automotive Printed Circuit Board Market Summary
The global automotive printed circuit board (PCB) market was valued at USD 9.79 billion in 2023 and is anticipated to reach USD 14.09 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. This growth trajectory is fueled by evolving trends, dynamic market conditions, and emerging opportunities in the automotive sector.
Rising fuel price volatility and growing environmental concerns are prompting both automakers and consumers to prioritize drivetrain technologies that deliver enhanced fuel efficiency without compromising on performance or reliability. Advanced drivetrain systems such as all-wheel drive (AWD) and hybrid drivetrains are gaining popularity across both passenger and commercial vehicles due to their superior traction, safety, and overall performance under varied driving conditions.
Key Market Trends & Insights
- In terms of type, the double-sided PCBs segment led the global market in 2023, capturing over 36% of the revenue share. These PCBs are favored for their cost-effectiveness and their capability to support intermediate circuit complexity, offering a balance between performance and affordability when compared to multilayer PCBs.
- Among vehicle types, passenger cars dominated the market in 2023. This dominance is attributed to the high production volume and the increasing integration of electronic systems such as infotainment, navigation, safety, and comfort-enhancing components that require complex PCBs.
- The conventional vehicles segment also maintained a leading position in 2023. Despite the ongoing transition toward electric and hybrid vehicles, conventional vehicles still account for a significant share of the global automotive fleet, supporting the demand for PCBs in traditional vehicle architectures.
- Component-wise, infotainment systems emerged as the largest segment in 2023. The surge in consumer demand for connectivity, entertainment, and digital information in vehicles has driven the adoption of advanced infotainment systems. These systems require robust and high-performance PCBs to enable features such as GPS navigation, multimedia playback, wireless connectivity, and smartphone integration.
- Regionally, North America's automotive PCB market reflects strong technological advancement and rapid adoption of innovative vehicle electronics. The U.S. stands as a vital contributor to this regional market, supported by its well-established automotive industry and a robust ecosystem for R&D and innovation.
- The Asia Pacific region holds the largest and fastest-growing share of the global market, propelled by high vehicle production rates and swift adoption of advanced automotive technologies. China, Japan, and South Korea are leading contributors, with China being the most significant automotive market in the world.
- In Europe, the automotive PCB market is influenced by the region’s longstanding automotive legacy and a strong focus on innovation in vehicle electronics. Germany, France, and the United Kingdom are key players, with Germany particularly recognized for its high-tech automotive manufacturing and development capabilities.
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Market Size & Forecast
- 2023 Market Size: USD 9.79 Billion
- 2030 Projected Market Size: USD 14.09 Billion
- CAGR (2025-2030): 6.9%
- Asia Pacific: Largest market in 2023
Key Companies & Market Share Insights
The companies are focusing on various strategic initiatives, including new product development, partnerships & collaborations, and agreements to gain a competitive advantage over their rivals. The following are some instances of such initiatives.
Key Players
- Chin Poon Industrial
- Meiko Electronics
- Nippon Mektron
- TTM Technologies
- KCE Electronics
- Tripod Technology
- Unimicron Technology
- Kingboard Chem GRP
- Amitron Corp
- CMK Corp.
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Conclusion
The global automotive printed circuit board market is poised for steady growth, driven by increasing electronic integration in vehicles, rising consumer expectations, and technological advancements across drivetrain, infotainment, and safety systems. While double-sided PCBs and conventional vehicles currently lead the market, trends are gradually shifting toward more complex, multilayer solutions and electric vehicle applications. Regional markets such as Asia Pacific and North America are spearheading growth through innovation and production scale. With countries like China and Germany pushing the envelope in automotive design and manufacturing, the automotive PCB market is set to play a crucial role in the future of smart mobility.
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