Automotive PCB market predicted to reach $25 bn
The anticipated boom in demand for electric vehicles is set to provide a significant uptick in the global automotive PCB market, a new report concludes.
The global automotive PCB market is projected to reach $25 billion by 2030, growing at a compound annual growth rate (CAGR) of 8%. This is the main finding from a newly published study by HTF Market Intelligence.
With the rise of electric vehicles (EVs) and autonomous driving, the automotive PCB market is already experiencing rapid growth and the increasing complexity of automotive electronic systems necessitates high-performance, durable, and smaller PCBs, the study concludes.
The study evaluates the global automotive PCB market, providing insights into market size, trends, and forecasts up to 2030, and serves as a useful resource for industry professionals to understand market dynamics, growth drivers, opportunities, challenges, and competitive landscape.
The report identifies key market trends, including the integration of AI and IoT in automotive electronics and the demand for lightweight and flexible circuits in EVs. Major market drivers include the electrification of vehicles and the proliferation of infotainment systems. Opportunities lie in material innovation and customization, while the principal challenges faced by the market in the coming years, the report says, involve thermal management and durability of the PCBs.
“As vehicles become more technology-driven, the demand for advanced PCBs like multilayer, rigid-flex, and flexible PCBs is increasing significantly,” suggests an industry expert in the study.
The Asia Pacific region is noted as the fastest-growing market, while Europe remains the dominating region. With rapid developments in PCB materials and the integration of new technologies like AI, IoT, and 5G, the automotive PCB market is well-positioned for substantial growth in the coming years.
