Automotive PCB Market size was valued at USD 11.32 billion in 2024 and is set to reach USD 24.67 billion by the end of 2037, expanding at around 6.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive PCB is assessed at USD 11.88 billion.
The growth of the market can be attributed to the rising demand for PCBs over the past few years, with an increased focus on improving the technology and ongoing innovations associated with automobiles. In modern cars, a user can find several new features compared to the model which is 10 years older, since technology is developing and competition among key-manufacturers is escalating. Hence, a large gap appears in the automotive industry for PCBs to fill, and it is projected to increase the market’s growth in the upcoming years. It was found that the global sales of PCBs amounted to more than 80 billion in 2018.
Global Automotive PCB Market trends such as, strict government regulations regarding CO2 emissions and emission standards, backed by the fact that electric vehicles are becoming more and more popular in developed nations are anticipated to hike the market growth over the forecast period. Hence, a demand for the market is expected to be generated by the increasing demand for electronic systems and IoT in automobiles. Also, there has been an increase in government measures in order to encourage the sales of electric vehicles. For instance, the Government of Japan (GOJ) was proposing to subsidize a part of the cost of purchasing CEVs, such as Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Fuel Cell Electric Vehicles (FCEVs). The maximum CEV subsidies awarded per vehicle in 2021 were around USD 7,200 Dollars. Furthermore, the needs of the customer are becoming more important to automotive manufacturers around the world, and regional trends are evolving to reflect consumer preferences.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.3% |
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Base Year Market Size (2024) |
USD 11.32 billion |
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Forecast Year Market Size (2037) |
USD 24.67 billion |
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Regional Scope |
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Fuel Type {Internal Combustion Engines (ICEs), Electric, Hybrid}
The global Automotive PCB Market is segmented and analyzed for demand and supply by fuel type into internal combustion engines (ICEs), electric, and hybrid. Out of these types of segments, the electric segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing sales and production volume of electric cars worldwide and money invested in PCBs as they play an important role in electric vehicles. Electrical vehicles are highly advanced and use electricity to perform all the requisite tasks, which boosts the demand for PCBs. For instance, it was discovered that the sales of electric vehicles doubled globally in 2021, reaching approximately 7 billion units.
Type (Single-Sided, Double-Sided, Multi-Layer PCB)
The global Automotive PCB Market is also segmented and analyzed for demand and supply by type into single-sided, double-sided, and multi-layer PCB. Amongst these segments, the multi-layer PCB segment is expected to garner a significant share. Multi-layer PCBs are 50 layers thicker than other types of PCBs and provide dual transmission. Such features of multi-layer PCBs make them quite suitable to handle a wide range of complicated electrical tasks. Multi-layer PCBs has around 10 to 48 conducting layers, which makes them nearly 1.5 mm thick. Automotive industry now relies on the use of electrical component with the launch of electric cars in the market. Since every feature such as headlights, GPS, interior screens, and others are completely controlled by electronics, therefore, automobile manufacturers prefer multi-layer PCBs.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Fuel Type |
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By Vehicle Type |
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By Application |
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APAC Market Statistics
The Asia Pacific Automotive PCB Market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the presence of a strong auto parts manufacturers network in the region, along with the growing production of integrated circuits and other electronic parts with rising production of vehicles. For instance, the production volume of integrated circuits in China amounted to more than 350 billion pieces in 2021, with a 37% increase compared to 2020. Additionally, up-surged utilization of autonomous and electric vehicles baked by the higher implementation of government initiatives to control the emission of harmful gases by the vehicles on the road is estimated to enlarge the market size in the region over the forecast period. For instance, in 2021, the electric vehicle (EV) production in Asia Pacific was projected to hit approximately 180,000, which was an increase of around 50% compared to the previous year. In 2020, nearly 120,000 electrical vehicles were produced in the region. Therefore, all these factors are estimated to influence the regional market growth positively over the forecast period.
TTM Technologies Inc. to announce the opening of its new manufacturing plant in Penang, Malaysia. TTM Technologies Inc. is leading company in the manufacturing of RF and PCB components. Furthermore, the plant also expected to obtain an investment of nearly USD 130 million by 2025. The manufacturing plant will focus on the expansion of advanced technology PCB supply chain.
Schweizer Electronic AG opened its own sales company in the USA, located in Wilmington, Delaware, expanding its unit across the Atlantic. The company stated that it is planning to obtain lucrative access to the American market, especially in USA and Canada by addressing the market of aviation and automotive industry in particular.
Author Credits: Saima Khursheed
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