Printed Circuit Board (PCB) is also identified as printed wiring board (PWB) and printed wiring cards (PWC) that connects electrical or electronic components by conductive tracks, as well as supports mechanically. They are most commonly made of composite epoxy, fiberglass, or other composite materials. They are generally used in all types of electronic products like passive switch boxes. PCBs provide mechanical support and connect various electronic components such as resistors, battery, transistors, inductors, capacitors, LEDs, and several other electronic components. Rise in demand for consumer electronic products & smart devices are major factors augmenting the market growth. Additionally, rise in demand of eco-friendly PCB’s due to increased electronic waste, growth in consumer spending, rapid growth in loT devices, and rise in demand from new economies are the major factors, which are responsible for growth of the market.
As per analysis, “Global Electronic Printed Circuit Board (PCB) Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global electronic printed circuit board market include Daeduck Group, SEMCO, ZDT, Shinko Electric Ind, Nippon Mektron, HannStar Board (GBM), SEI, CMK Corporation, Young Poong Group., TTM, Nanya PCB, Compeq, Tripod, Viasystems, Aoshikang, CCTC, Ellington, AT&S, Redboard, Kinwong, Wuzhou Group, Shennan Circuits, Junda Electronic and among others. These major companies are continuously involved in mergers & acquisition strategies to accelerate their market position among other industry players.
Based on type, electronic printed circuit board market is segmented as Standard Multilayer, IC Substrate, Rigid Flex, Rigid 1-2Sided, Flexible Circuits, HDI/Microvia/Build-Up and others. In addition, based on application, market is segmented as communication, consumer electronics, automotive, computer, industrial/medical, military/aerospace and others.
The electronic printed circuit board market is driven by growth in recycling of PCB & PCB design developments; followed by widespread digitalization, rise in demand for healthcare wearables, increase in investment in 5G technology & telecom infrastructure in developing nations, rise in integration of electronic component in vehicles and increase in demand for automation machinery & industrial robots in the manufacturing sector. However, technical issues associated in PCB designing may impact the market. Moreover, significant spike in the demand for hi-tech features in the automotive industry and rise in need for double-sided PCB are key opportunities for market. Furthermore, growth in demand for high-speed data & signal transmission and miniaturization of printed circuit boards are major trends for market.
By regional analysis, the North-America is a leading region in global electronic printed circuit board market owing to growth in adoption of Internet-of-Things (IoT) based applications and growth in consumer electronics sector across the region. The Europe and Asia-Pacific regions are estimated to witness higher growth rate due to higher flexibility in manufacturing base of major electronic & communication components over the forecast period. It is predicted that future of the global electronic printed circuit board market will be bright as a result of rise in usage in the automotive industry coupled with growth in demand for electronic devices for instance smart-watches, smart-phones, and other devices during the forecast period.
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Ankur Gupta, Head Marketing & Communications