The global Automotive PCB (Printed Circuit Board) Market is projected to grow at a CAGR of 5.33% during the forecast period, to reach USD 12.43 Billion by 2025.
The market growth is primarily driven by factors such as the increase in demand for comfort and safety features in a vehicle and the increasing production of electric and semi-autonomous vehicles.
Market Growth Drivers:
1 Increased Incorporation of Advanced Safety, Convenience, and Comfort Systems
2 Growing Demand for Electric Vehicles
Some of the key market players are CMK (Japan), Chin Poon Industrial (Taiwan), Meiko Electronics (Japan), Nippon Mektron (Japan), and KCE Electronics (Thailand).
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The luxury light-duty vehicles segment is estimated to be the largest segment of the global market, by the end-user type. Luxury vehicles use a large number of PCBs in their vehicles as these vehicles are mostly equipped with advanced vehicle electronics functions for better comfort, convenience, and safety. Additionally, factors such as the sizeable number of luxury vehicles in Europe and North America and the increasing demand for these vehicles in the Asia Pacific, due to the increasing purchasing power of consumers and the growing demand for comfort and safety features in a vehicle, are increasing the demand for automotive PCBs in this segment.
The automotive printed circuit board market for Battery Electric Vehicles (BEVs) segment is estimated to be the fastest-growing market as BEVs are incorporated with more electric components, ECUs, and PCBs in the drive train, interior, and body areas. BEV manufacturers are also adopting advanced technologies to attract more customers.
The ADAS and basic safety segment are estimated to be the fastest-growing market during the forecast period, as the majority of the luxury and mid-segment vehicles are equipped with basic safety functions such as ABS, an anti-lock braking system, and TPMS. Stringent safety norms and growing awareness about road safety are also fueling the growth of ADAS and the basic safety segment in the automotive PCB market.
Asia Pacific market is the largest regional market for automotive PCB, as the Asia Pacific region is the largest market for automobiles, with a market share of around 50% of the global automobile production. The Asia Pacific region comprises emerging economies such as China and India along with developed nations such as Japan and South Korea. The increasing application of advanced electronics in vehicles, the growing purchasing power of the consumer, and good consumer awareness for safety features in the developing countries are the key factors driving the automotive PCB market in Asia Pacific Region.
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Target Audience:
1. Automotive PCB Manufacturers
2. Automotive Cockpit Electronics Manufacturers
3. Automotive Powertrain Manufacturers
4. Automotive Safety and Comfort System Manufacturers
5. Industry Associations
6. Raw Material Suppliers for Automotive PCB Manufacturers
7. The Automobile Industry as an End User, Traders, Distributors, and Suppliers of Automotive PCBs
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