Global Automotive PCB Market Projected to Reach $25.6 Billion by 2031 Driven by Rising Popularity of Mobility 4.0

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Transparency Market Research has released "Global Automotive PCB Outlook 2031". It stated that the global automotive PCB market size stood at US$ 13.2 Bn in 2022 and is expected to be valued at US$ 25.6 Bn by 2031. The global automotive PCB market is anticipated to benefit from rising popularity of Mobility 4.0 and growing demand for next-generation automobiles. The industry is projected to develop at a CAGR of 7.7% between 2023 and 2031. Increasing market demand for next-generation automobiles and growing adoption of Mobility 4.0 are anticipated to propel the automotive PCB industry's growth.

Connecting the electrical systems in vehicles can be done using printed circuit boards (PCBs), which are compact, affordable, and dependable. Increased use of CASE automotive technology is projected to fuel market development.

Manufacturers of automotive PCBs are expected to benefit from the advent of semi-autonomous and autonomous automobiles. Performance and dependability of automotive PCBs are enhanced by investments by key manufacturers in the R&D of novel materials and technologies.

In the automobile sector, PCBs are frequently utilized for various tasks, including managing the gearbox, infotainment, lighting systems, and other electrical parts. They offer a compact, affordable, and dependable connection option for automotive electronics. Circuit boards for automobiles must also survive extreme temperatures and vibration. Consequently, they demand unique design considerations and premium components.

Key Findings of Market Report

• In terms of type, the single layer segment is anticipated to account for prominent market share between 2023 and 2031. PCBs with a single layer are less expensive than PCBs with several layers. Wipers, electronic throttle systems, and lights, all employ PCBs. Usage of single layer PCBs is expected to increase in the coming years due to rise in sales of both commercial and passenger vehicles.
• In terms of application, the ADAS segment is expected to lead the global market. Integration of ADAS (Advanced Driver Assistance Systems) in automobiles is likely to be influenced by the implementation of different vehicle safety standards.
• PCBs are essential to the operation of ADAS in automobiles. In addition to communicating with various electronic units in a vehicle, they are utilized to manage and analyze data from cameras and sensors.

Global Automotive PCB Market: Growth Drivers

• The automobile industry is making rapid progress toward the new Mobility 4.0, which is defined by the incorporation of cutting-edge technology such as autonomous vehicles, the IoT (Internet of Things), and artificial intelligence.
• The goal of Mobility 4.0 is to develop efficient, smart, and sustainable transportation systems. The advent of Mobility 4.0 and use of cutting-edge technologies in the automotive sector are expected to drive market development.
• Consumers want transportation options that are more individualized, effective, and practical. These features are available in next-generation automobiles. Adoption of electric and hybrid cars is being promoted by governments through subsidies and incentives. These rewards are meant to encourage sustainability, reduce reliance on fossil fuels, and enhance air quality. These factors are anticipated to accelerate market development in the coming years.

Global Automotive PCB Market: Regional Landscape

Asia Pacific is expected to have account for leading share of the global market from 2023 to 2031. Market expansion in Asia Pacific is driven by the presence of leading manufacturers and an increase in sales of passenger vehicles in the region.

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Click here to learn more about Transparency Market Research's "Global Automotive PCB Outlook 2031" report.