Automotive PCB Market Size to Surpass 6.34% CAGR by Growth in Driverless Vehicles Fueling Sector Expansion
Failure in the functioning of the PCB can lead to the malfunction of systems in the automobile industry
/EIN News/ -- Luton, Bedfordshire, United Kingdom, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive PCB Market.
The global automotive PCB market is expected to grow at a 6.34% CAGR from 2022 to 2029. It is expected to reach above USD 12.4 billion by 2029 from USD 7.13 billion in 2020.
Electric vehicles will outsell gasoline and diesel automobiles in the next years. Unlike other vehicle fuel types, battery electric vehicles are in higher demand due to growing concern about global emissions from automobiles, as well as government attempts to increase electric vehicle sales. PCBs will play a key part in the manufacturing and operation of automobiles, buses, and other electrically powered vehicles as the automotive industry transitions to electric vehicles. Furthermore, rising sales of electric cars, as well as the adoption of advanced driver assistance systems and in-vehicle entertainment technologies, are expected to fuel demand for the automotive PCB market.
The vehicle has developed from a complete electromagnetic shielding-based mechanical device in the past to a combination of machinery and electronics as the automobile industry has progressed. The rising use of electrical design automation technologies in PCB manufacturing for vehicles has increased the importance of comfort, safety, and entertainment in automobiles. On the other hand, the share of automobile electronics in vehicle production costs is steadily growing, increasing demand for automotive PCB.
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Recent developments
In April 2020, Tripod Technology, based in Taiwan, has been awarded a $64.8 million contract to establish new production lines at its Xiantao, China, manufacturing site. With this expansion project, the company will focus on boosting capacity for multilayer boards in order to increase the added value of its printed circuit board products, as well as its deployments in high-margin automotive boards.
Market Dynamics
Electrical designs in automation technologies have increased the importance of comfort and safety.
The vehicle has developed from a complete electromagnetic shielding-based mechanical device in the past to a combination of machinery and electronics as the automobile industry has progressed. The rising use of electrical design automation technologies in PCB manufacturing for vehicles has increased the importance of comfort, safety, and entertainment in automobiles. On the other hand, the share of automobile electronics in vehicle production costs is steadily growing, increasing demand for automotive PCB. Failure in the function of PCBs is one of the primary difficulties confronting the global automotive PCB industry. The most typical reasons for PCB failure include poor component arrangement, overheating owing to a lack of space on the PCB, and other factors. Poor quality components, such as faulty soldering to cold joints, poor connection to circuit boards, insufficient board thickness and electromagnetic shielding, bending, and breaking, can also cause PCB function failure. The failure of a PCB causes the systems in a car to malfunction.
Segmentation Analysis
On the basis of type the automotive PCB market is segmented into double-sided PCB, multi-layer PCB, and single-sided PCB. The automotive printed circuit board market’s multilayer PCB sector is expected to be the fastest expanding category. The multi-layer PCB market is likely to be driven by rising demand for advanced electronics such as windshield HUDs, camera modules, drive mode selectors, and enhanced telematics.
Product Portfolio: The Company has a product portfolio of Automotive PCB Market that includes:
Automotive PCB Market: Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Automotive PCB Market.
Key players operating the global Automotive PCB market includes
Automotive PCB Market Scope: Discount on report
| Automotive PCB Market | |||
| Report Coverage of Automotive PCB Market | Details | ||
| Base Year: | 2021 | Forecast Period:2017-2021 | 2022-2029 |
| Historical Data: | 2020 | Market Size in 2020: | US$ 7.13 Billion |
| Forecast Period 2022 to 2029 CAGR: | 6.34% | Market Size in 2029: | US$ 12.4 Billion |
| Key Market Segments: | By type |
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| by Fuel type |
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| Largest Regional market | Asia Pacific | 32% | |
Automotive PCB Market Regional Analysis-
Asia Pacific is expected to lead the automotive PCB market, both in terms of volume and value. This market is expanding owing to increased production and demand for passenger automobiles and electric vehicles. The expanding market share of modern electronics in automobiles, rising consumer purchasing power, and high consumer awareness of safety features in emerging nations are the primary drivers driving the Asia Pacific automotive PCB market.
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Reasons to Buy Automotive PCB Market Report
The report enables you to -
- Formulate significant competitor information, analysis, and insights to improve R&D strategies
- Identify emerging players with potentially strong product portfolio and create effective counter strategies to gain competitive advantage
- Identify and understand important and diverse types of Automotive PCB under development
- Develop market-entry and market expansion strategies
- Plan mergers and acquisitions effectively by identifying major players with the most promising pipeline
- In-depth analysis of the product’s current stage of development, territory and estimated launch date
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