Automotive PCB Market Outlook 2030 –
A printed circuit board (PCB) is a board base for physically supporting and wiring the components in most electronic applications. A PCB consists of printed paths that connect different components on the PCB, such as transistors, resistors, and integrated circuits. PCBs are used in a variety of automotive applications, including power relays, ECU control modules, anti-lock braking systems, digital displays, transmission sensors, vehicle radars, and stereo and audio components. The significant increase in the use of PCBs in modern cars can be attributed to factors such as the growth of the electric vehicle (EV) segment and the increasing focus on occupant safety, convenience, and comfort. Luxury vehicles use a variety of PCBs because these vehicles are equipped with advanced electronic systems that can provide end users with better safety, comfort, and convenience. Therefore, it is expected that the light luxury car segment will occupy an important market share in the global passenger car market during the forecast period. The ADAS and basic safety segment is estimated to attain the largest market size in the global market. The regulatory bodies of many countries are mandating some of the ADAS features and the execution of basic safety systems such as ABS, anti-lock braking system, and TPMS.
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Companies covered: Delphi Technologies, Samsung Electro-Mechanics, Meiko Electronics Co.,Ltd., Unimicron Technology Corporation, Chin Poon Industrial Co., Ltd., Daeduck Electronics, KCE Electronics, Tripod Technology Corporation, Amitron, and Nippon Mektron Ltd.
COVID-19 Impact analysis
The COVID-19 impact on the automotive PCB market is unpredictable and is expected to remain in force till the second quarter of 2021. The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and made social distancing mandatory to contain the spread of the virus. Consequently, several organizations started work from home programs as safety measures. This led to sudden fall in demand for automobiles across the world. Moreover, nationwide lockdowns disrupted the supply-chain as several manufacturing facilities across the globe had to partially or fully shut down their operations. The adverse impacts of the COVID-19 pandemic resulted in huge supply-demand issues globally.
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Top Impacting Factors
Growing electric vehicles sales, rising demand for automatic automotive switches, and rising demand for accessories & features are driving the growth of the market.
Increasing consumer preference for Bring Your Own Device (BYOD) is expected to hamper the growth of the market.
Growing economy, and rising disposable income can be seen as an opportunity for the market investments.
The automotive PCB market trends are as follows:
Growth in Electric Vehicles Sales
Sales of electric vehicles are expected to grow at a higher compound annual growth rate during the forecast period. Owing to the increasing concern on global emissions from vehicles as well as growing government initiatives to increase the sales of electric vehicles. For instance, the Norway government is providing benefits such as no road tax, exemption from import duty and also investing heavily in infrastructure to promote sales of electric vehicles and make the region eco-drive zone by 2025. Companies manufacturing automotive PCB are signing contract with the automaker and joint venture with other company to lead the market. For instance, in February 2020, Lumax Industries extends a joint venture with Stanley Electric, Japan. The joint venture will provide a complete range of Stanley Electric products, current and future, to the Indian automotive industry.. The joint venture will extend its product line to Heating Ventilation Air Conditioning panel (HVAC) in the near future. The product will be localized and manufactured at the newly set up electronic facility at Bawal, Haryana and the company is already in discussion with Japanese OEMs. With increasing sales of electric vehicles as well as adoption of advance driver assistance system (ADAS) technology installed in vehicle are likely to drive the demand for automotive PCB market during the forecast period.
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Key benefits of the report:
This study presents the analytical depiction of the automotive PCB market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive PCB market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the automotive PCB market growth scenario.
The report provides a detailed automotive PCB market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the automotive PCB market research report:
Which are the leading market players active in the automotive PCB market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the automotive PCB market?
What are the projections for the future that would help in taking further strategic steps?