Automotive PCB Market to Reach USD 15.10 Billion by 2032; Increased Focus on Vehicle Safety and Reliability to Boost Market Growth

The global automotive PCB market size was valued at USD 9.15 billion in 2023. The market is projected to grow from USD 9.52 billion in 2024 to USD 15.10 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Automotive PCB Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Car and Commercial Vehicle), By Type (Single or Double layer, Multi-layer, HDI, FPC, and Others), By Application (ADAS, Body & Comfort, Infotainment, and Others), and Regional Forecast, 2024-2032”.

In automotive systems, PCBs are intricate circuits that control electronic functions by linking components such as ICs and resistors. They play key roles in navigation, HUD, entertainment, ADAS, engine management, and antilock brake systems. The market is anticipated to foster substantial growth in the coming years as these components are used to elevate the driving experience.

The COVID-19 pandemic disrupted the automotive industry by causing global lockdowns and economic crises. These conditions led to severe resource bottlenecks for electronic component suppliers and challenges for PCB manufacturers, including factory shutdowns and logistics issues, resulting in delays in PCB supply.

TTM Technologies Invested USD 130 Million to Establish New Plant in New York

In November 2023, TTM Technologies revealed that it would invest USD 130 million to establish a high-tech manufacturing facility in Dewitt, New York. The facility planned to create 400 jobs and focus on research and development in integrated-circuit substrates and HDI PCB technologies.

Rising Use of Advanced and Comfort Features in Vehicles to Propel Market Growth

Increased focus on vehicle safety and reliability compels automotive PCBs to adhere to stringent safety standards and endure harsh conditions such as temperature fluctuations and vibrations. This commitment to high reliability and long-term performance fuels automotive PCB market growth. Moreover, the shift toward advanced, lightweight vehicles and the development of new energy, connected, and autonomous vehicles require PCBs that support complex features such as charging, energy storage, and power distribution. This drives PCB manufacturers to invest in technology to meet evolving needs.

However, dependence on a complex global supply chain makes manufacturers vulnerable to disruptions, such as natural disasters or pandemics, which can lead to shortages, delays, and increased costs, hindering market growth.

Industry Participants Focus on Introducing Cutting-Edge Solutions to Lead Market

Key market players such as Meiko Electronics, Nippon Mektron, and TTM Technologies focus on advanced automotive PCBs. Meiko Electronics leads with products for powertrains, ADAS, safety systems, and more. Their diverse offerings include multi-layer, HDI, flexible, and heat-dissipating PCBs, serving vehicle manufacturers worldwide with cutting-edge solutions.

List of Key Players Mentioned in the Report:

• Chin Poon Industrial (Taiwan)


• Meiko Electronics (Japan)


• TTM Technologies (U.S.)


• KCE Electronics (Thailand)


• Tripod Technology (Taiwan)


• Unimicron Technology (Taiwan)


• Amitron Corp (U.S.)


• MEKTEC CORPORATION (Japan)


• CMK Corp. (Japan)


• RAYMING Technology (China)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/automotive-pcb-market-105577

Key Industry Development:

• November 2023: TTM Technologies announced plans to build a manufacturing establishment in Dewitt, New York. The company plans to invest USD 130 million into the greenfield high-tech manufacturing facility, developing 400 new jobs and an R&D facility enhancing integrated-circuit substrate and HDI PCB technologies.

Further Report Findings:

• On the basis of vehicle type, the market is bifurcated into passenger car and commercial. The passenger car secures the largest automotive PCB market share and is slated to hold the apex position in the market during the study period. The growing adoption of electric and autonomous vehicles fuels the demand for PCBs in the passenger car segment globally.


• With a market value of USD 4.44 billion in 2023, Asia Pacific is expected to lead the automotive PCB market. Increasing demand for personal vehicles post-COVID, alongside supportive government policies and the adoption of electric/autonomous vehicles, will fuel growth in the region.


• As an early trend adopter and a major manufacturing hub for electronic components, Europe ranks second in the market. The rising demand for electric and advanced vehicles in the Netherlands, Germany, and the U.K. fuels regional growth.

Table of Segmentation