Global automotive PCB Market is expected to attain $14.3 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
In the year 2017, the passenger vehicles segment amassed maximum share in the automotive PCB market in terms of revenue. The same year, the Asia-Pacific market emerged as a leading contributor to the global automotive PCB market revenue.
According to the report, the rapid growth in the population across the globe in conjunction with development in the automotive industry primarily drove the automotive PCB market growth over the last few years. The market is estimated to maintain its growth stance owing to the increasing need for road safety, and surging demand for automobiles across developing economies. The high penetration of hybrid and electric vehicles, rising demand for luxury, comfort, and technologically advanced vehicles, and imposition of stringent government mandates concerning vehicular emissions and safety will escalate the growth of the automotive PCB market. Moreover, new emerging markets along with technological advancements would present plenty of growth opportunities to the automotive PCB market over the forecast timeframe, cites the report.
With respect to product type, the demand for multilayer PCB has significantly surged over the years. This product primarily finds applications in intricate and major electrical activities in very low space and compressed circuit. The multilayer PCB is also utilized in communication systems, GPS technology, and data storage. Double layer PCB comes with a thin layer of conducting material on the board’s top and bottom sides. This PCB has reduced size, higher flexibility, and is comparatively affordable, which could favor its adoption across several applications. The double layer PCB is also used in converter, controls, power monitoring systems, and HVAC application.
In terms of regional growth, Asia-Pacific emerged as the highest revenue generator for the global automotive PCB market in 2017. The high growth could be attributed to growing population along with increasing urbanization in the region. Other significant factors like the imposition of strict government regulations regarding vehicular safety in tandem with the rising adoption of electric and hybrid vehicles are slated to drive the demand for automotive PCB in the region over the ensuing years, cites the report.
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Considerable growth in the automotive industry, high investment in R&D initiatives, and technological advancements are additional factors likely to boost the Asia Pacific automotive PCB market growth in the coming years. Moreover, financial development in countries like India, China, and Japan, rapid improvement in living standards, and rising disposable income will further support the demand of automobiles in the region. Global players expanding their businesses into these countries in order to tap market potential will also propel industry growth, cites the report.
The report also provides an in-depth analysis of the automotive PCB market drivers, restraints, and opportunities over the estimation period. A detailed analysis of the report in terms of application, region, and competitive ranking analysis has also been included in the report. In addition, company profiles of major market contenders have been elaborated under the heads of business overview, product benchmarking, financials, and recent developments.
The eminent industry players profiled in the automotive PCB market report comprise of Nippon Mektron, Delphi Automotive, Samsung Electro-Mechanics, Meiko Electronics, Chin Poon Industrial, CMK Corporation, Tripod Technology, KCE Electronics, Daeduck Electronics, and Unimicron Technology among others. The key growth strategies observed in this business space include launching innovative products and teaming up with other market leaders to design new products and to suffice the rising consumer needs and requirements, thereby augmenting the automotive PCB market growth during the foreseeable timeline.