PCB Market Size (2024 - 2029)

PCB Market Analysis

The PCB Market size is estimated at USD 80.33 billion in 2024, and is expected to reach USD 96.57 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).

• Increased production of budget smartphones means that phone PCB production is expected to increase. According to Nidec, despite the downfall, 1.3 billion smartphones are shipped annually worldwide. These trends largely represent real opportunities for the PCB, as it is a vital mobile phone component that connects and supports various electronic components such as microprocessors, memory chips, sensors, and other integrated circuits.
• While consumer PCBs are certainly nothing new, the applications for PCBs for electronics and the materials used to make them have evolved over some time. This is inevitable, especially on account of the growing trend of miniaturization. Moreover, modern electronics and computer applications require PCBs with high thermal conductivity so that the heat generated can be dissipated. Different PCBs are needed for the many kinds of appliances in use. For example, the PCB needed to power a smartwatch is different from the PCB required for a computer.
• PCBs are highly suitable for portable consumer electronics due to their small size and lightweight characteristics. The growth and efficiency of the PCB assembly industry can be attributed to the significant reliance of consumer electronic products on well-designed and assembled printed circuit boards. By incorporating high-performance PCBs effectively, various consumer electronic devices can be optimized to carry out everyday tasks seamlessly. The indispensability of PCBs extends to a wide range of consumer electronics, such as smartphones, televisions, laptops, and gaming consoles, owing to their compact design and capability to accommodate intricate circuitry.
• One major trend driving the growth of the PCB market is the increasing adoption of advanced technologies such as 5G, which is significantly favored by growing investment from various government and private organizations.
• For instance, in March 2024, Ericsson announced the establishment of a dedicated entity for delivering a new dedicated entity to deliver 5G-driven digital transformation across the federal United States Government. This announcement was made taking the rising importance of 5G communication into consideration, as it is vital for US national and economic security and a key component of US defense modernization programs.
• The growing concerns regarding electronic waste, like printed circuit boards (PCBs), are a significant environmental issue that needs to be addressed. PCBs contain various hazardous materials, including lead, mercury, cadmium, and brominated flame retardants. When improperly disposed of, these substances can leach into the soil and water, posing a threat to human health and the environment.
• Improper disposal of PCBs, such as landfilling or incineration, can have serious environmental consequences. When PCBs end up in landfills, hazardous materials can seep into the soil and contaminate groundwater. Incineration of PCBs can release toxic gases and particles into the air, contributing to air pollution.
• Furthermore, factors such as the growing importance of Taiwan in the semiconductor industry and the increasing importance of diversifying semiconductor manufacturing facilities are likely to shape the supply and demand structure of PCBs in the future.

PCB Industry Segmentation

The study tracks the revenue accrued through the sales of printed circuit boards (PCBs) by various players in the global market. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which accounts for market estimations and growth rates. The study further analyzes the overall impact of COVID-19 and other macroeconomic factors on the global market. The scope of this report encompasses the sizing and forecasts for the various market segments.

The printed circuit board (PCB) market is segmented into type (standard multilayer PCBS, rigid 1-2 sided PCBS, HDI/micro-via/build-up, flexible PCB, rigid-flex PCB, and others), by end-user industry (industrial electronics, healthcare, aerospace and defense, automotive, communications, consumer electronics, and other end-user industries), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market forecasts and size in value (USD) for all the above segments.