The global automotive PCB Market was valued at USD 8.5 billion in 2017 and is anticipated to grow at a CAGR of 6.3% during the forecast period. Automotive Printed Circuit Board (PCB) is designed as a board base for physically supporting and wiring the surface-mounted and socketed components for automotive electronics. Use of automotive PCBs offer enhanced efficiency and safety in rear LED lights and running lights, transmission controls and comfort control units. PCBs are also use for controlling and managing engines, entertainment systems, digital displays, radar, GPS, power relays timing systems, mirror controls and others. The growing trend of lightweight, miniaturization, intelligence and electrification in the automotive market has increased the demand for advanced automotive PCBs.
Global Automotive PCB Market Value (US$ Bn) & Y-o-Y Growth (%)
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The automotive PCB market is driven by factors such as growing automotive industry, and increasing demand for luxury vehicles worldwide. There has been a significant growth in the electrification and modernization of vehicles, boosting the growth of the Automotive PCB industry. Factors such as growing urbanization, and increase in sale of passenger vehicles influence the Automotive PCB market growth. The technological advancements, and increasing safety concerns improve the Automotive PCB market growth rate. The rising penetration of electric and hybrid vehicles, and rising incidents of road accidents worldwide have increased the growth of the Automotive PCB market. The introduction of stringent government regulations regarding vehicular safety and growing development of autonomous vehicles would provide numerous growth opportunities in the Automotive PCB market.
The global Automotive PCB market is segmented on the basis of type, application, vehicles type, fuel type, sales channel, and region. The Automotive PCB market report segments the types into Single-Sided PCB, Double-Sided PCB, and Multi-Layer PCB. The multi-layer PCB segment is expected to grow significantly during the forecast period. The increasing demand for advanced electronics in infotainment & navigation units, electric powertrain, and advanced telematics from passenger and commercial vehicles drives the growth of this automotive PCB market segment.
The application segment is divided into Powertrain, Body and Lighting, Infotainment, ADAS and Safety, and others. The ADAS and safety segment is expected to grow at the highest rate during the forecast period. The increasing development of autonomous vehicles, rising incidences of accidents, and growing safety concerns on the road drive the growth of this segment.
The Automotive PCB market report segments the vehicle types into Passenger Vehicles, and Commercial Vehicles. Passenger vehicles dominated the global automotive PCB market in 2018 owing to increasing demand for passenger cars from emerging economies, and technological advancements. Rising disposable income, changing lifestyles, growing demand for luxury and comfortable driving experience would support the growth of this automotive PCB market segment. The fuel type segment is divided into Internal Combustion Engine, Hybrid, and Electric. The sales channel segment is categorized into OEM, and aftermarket. OEM accounted for the dominant share in the global automotive PCB market in 2017.
This Automotive PCB market report comprises a detailed geographic analysis of the Automotive PCB market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific accounted for the largest share in the global Automotive PCB market in 2018. The growing disposable income, and improving living standards, along with emerging economies of China, Japan, and India boost the market growth in Asia-Pacific. The introduction of stringent government regulations regarding vehicular safety and development of autonomous vehicles are factors expected to provide growth opportunities in the region during the forecast period.
The leading players in the Automotive PCB market include Nippon Mektron, Samsung Electro-Mechanics, Delphi Automotive, Meiko Electronics, Tripod Technology, CMK Corporation, KCE Electronics, Unimicron Technolog, Daeduck Electronics, and Chin Poon Industrial among others. These leading players are introducing innovative products in the Automotive PCB market to cater to the growing demand for consumers. Global players are entering new markets in developing regions to expand their customer base, strengthen market presence, and increase their Automotive PCB market share.