Global PCB & PCBA Market Trend By Type (Rigid 1-2Sided, Standard Multilayer), By Application (Consumer electronics, Computer), By Geographic Scope And Forecast

The Global PCB (Printed Circuit Board) & PCBA (Printed Circuit Board Assembly) Market was valued at USD 80 billion in 2023 and is projected to surpass USD 125 billion by 2031, growing at a CAGR of 5.8% during the forecast period from 2023 to 2031. The increasing demand for miniaturized and high-performance electronic devices across industries such as consumer electronics, automotive, aerospace, and healthcare is a key driver for the market. PCB & PCBA are essential components for all electronic devices, enabling efficient electrical connections and functionality in compact formats.

Drivers

Rising Demand for Consumer Electronics: The proliferation of smartphones, wearables, and IoT devices is boosting the need for advanced PCBs and PCBAs.

Technological Advancements in Manufacturing: Innovations in multilayer and flexible PCBs are creating growth opportunities in automotive and aerospace sectors.

Automotive Electronics Growth: The rise in electric and autonomous vehicles requires advanced PCBAs for battery management systems and in-vehicle infotainment.

Restraints

High Initial Costs: The setup and maintenance of PCB manufacturing facilities involve significant investments, potentially deterring smaller players.

Environmental Concerns: E-waste and chemical disposal associated with PCB production pose regulatory challenges.

Opportunities

Emerging Markets: Expanding production capabilities in Asia-Pacific and Latin America offer lucrative opportunities for market players.

Eco-Friendly Materials and Manufacturing: Increasing focus on sustainable PCB production techniques is expected to drive innovation and market growth.

Market by System Type Insights

Rigid PCBs: Dominated the market in 2023, widely used in smartphones, automotive applications, and industrial machinery due to their reliability.

Flexible PCBs: Expected to register the highest growth, driven by demand for compact and lightweight devices in the wearable and medical sectors.

Market by End-Use Insights

Consumer Electronics: Accounted for the largest share in 2023, driven by consistent demand for smartphones, laptops, and other gadgets.

Automotive Sector: Witnessing rapid growth due to advancements in ADAS (Advanced Driver Assistance Systems) and EVs.

Market by Regional Insights

Asia-Pacific: Leading market in 2023 due to a strong electronics manufacturing base in countries like China, Japan, and South Korea.

North America: Expected to see significant growth, driven by investments in aerospace and defense electronics.

Europe: A strong automotive sector contributes to steady market growth.

Competitive Scenario

Key players include Nippon Mektron, Zhen Ding Technology, TTM Technologies, Unimicron, Tripod Technology, and Flex Ltd. These companies are focused on product innovation, strategic acquisitions, and geographic expansion to strengthen their market presence.

Scope of Work – Global PCB & PCBA Market

Key Market Developments

In 2023, Nippon Mektron launched a new line of high-density interconnect (HDI) PCBs catering to 5G and IoT applications.

In 2024, Zhen Ding Technology expanded its production facilities in Vietnam to meet the growing demand for flexible PCBs.

In 2025, Flex Ltd. introduced a new sustainable PCB material designed to reduce environmental impact.

FAQs

What is the current market size of the Global PCB & PCBA Market?

The market was valued at USD 80 billion in 2023.

What is the major growth driver of the Global PCB & PCBA Market?

Rising demand for miniaturized and high-performance electronic devices across various industries.

Which is the largest region during the forecast period in the Global PCB & PCBA Market?

Asia-Pacific is the largest region due to its strong manufacturing base.

Which segment accounted for the largest market share in the Global PCB & PCBA Market?

Rigid PCBs dominated the market in 2023.

Who are the key market players in the Global PCB & PCBA Market?

Nippon Mektron, Zhen Ding Technology, TTM Technologies, Unimicron, Tripod Technology, and Flex Ltd.