Printed Circuit Board (PCB) Market to Worth USD 117.53 billion by 2032 | Research by SNS Insider

Printed Circuit Board (PCB) Industry growth is driven by rising demand for consumer electronics, EV adoption, 5G rollout, and miniaturization of smart devices.

Austin, June 02, 2025 (GLOBE NEWSWIRE) — Printed Circuit Board (PCB) Market Size & Growth Insights:

According to the SNS Insider Report, “The Printed Circuit Board (PCB) Market was valued at 75.85 Billion in 2023 and is projected to reach USD 117.53 Billion by 2032, growing at a CAGR of 4.99 % from 2024 to 2032.”

Next Gen Currents Powering the PCB Revolution through Tech and Sustainability

The printed circuit board (PCB) industry is facing a drastic change in technology as a result of new technologies and sustainability requirements. The 5G, IoT, AI and factory automation are driving the high performance; miniaturized PCB designs that require HDI and flexible PCBs. The world’s IoT device population is projected to climb from 12.4 billion in 2023 to 25.2 billion in 2027 and drive robust demand for PCBs across all markets. By 2022, the number of EVs have jumped to more than 10.5 million from 206,000 in 2013, driving a rise in PCB use in automotive. The environment is influencing production, in terms of recycled, RoHS compliant, environmentally sustainable materials. PCB Sales Market in U.S. was valued at USD 11.21 billion in 2023 and is expected to reach USD 17.61 billion by 2032, growing at a CAGR of 5.13%. Meanwhile, smart manufacturing technologies, such as AI-based systems, and automated optical inspection, are advancing production efficiency and yield. On the regional level, Asia-Pacific (led by China) still has the clear upper hand when it comes to PCB production, and India also launched a series of reshoring investments, with the USD 100 million PCB facility of Kaynes Solutions being announced in August 2023. These drivers make PCBs essential enablers for worldwide innovation and sustainable electronic development.

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Asia-Pacific Leads PCB Market While North America Drives Fastest Growth

In 2023, Asia-Pacific dominated the PCB market with about 46% revenue share, led by China, Japan, South Korea, and Taiwan’s strong manufacturing capabilities across automotive, consumer electronics, telecom, and industrial sectors. Legacy supply chain structure, cost advantage, and fast tech innovation (with IoT, 5G, electric vehicle electronics boosting demand) The region has the good supply chain and tech R&D, as well as some local growing market as well.

North America is the fastest-growing region from 2024 to 2032, due to demand for high performance PCBs in automotive, telecom, medical and consumer electronics. Innovations, 5G, EV adoption, IoT incorporation and reshoring initiatives fueling the domestic production and supply chain resilience in the country are some of the growth drivers, making North America one of the most important region in the global future PCB market.

Printed Circuit Board (PCB) Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 75.85 Billion
Market Size by 2032	USD 117.53 Billion
CAGR	CAGR of 4.99% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	• By Product Type (Rigid Board (Single Layer Board, Double Layer Board, Others (Multilayer)), HDI Board, Flexible Board, Others) • By Application(Automotive, Consumer Electronics, Telecommunication, Healthcare, Energy & Power, Others (Military, Utilities))

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Market Leadership and Growth Trends in PCB Products and Applications

By Product

The Rigid Board segment led the PCB market in 2023, accounting for around 40% of total revenue, owing to its high applications in consumer electronics, automotive, telecommunications, and other industrial sectors where stability and endurance are required. Meanwhile it’s still found in smartphones, computers and automotive electronics.

The High-Density Interconnect (HDI) Board segment is projected to grow fastest from 2024 to 2032, due to increasing demand of high performance miniaturized devices. When it comes to signal integrity, power efficiency, and component density, HDI boards for 5G, IoT, AI, EV, and smart devices deserve to be used in advanced electronics manufacturing

By Application

In 2023, the Consumer Electronics segment led the PCB market with around 38% revenue share, as it is extensively used in smartphones, laptops, TV, wearables, and smart home devices. Rising focus on IoT integration, increasing demand of advanced features, and miniaturization are some of the factors positively influencing the market growth of high-performance PCB.

The Automotive segment is the fastest-growing from 2024 to 2032, due to the growth of EVs, ADAS and autonomous driving. These require high-reliability PCBs driving the growth of the automotive electronics space.

Leading Market Players with their Product Listed in this Report are:

• Zhen Ding Technology
• Unimicron Technology
• DSBJ
• Nippon Mektron
• Compeq
• Tripod Technology
• TTM Technologies
• SCC
• Ibiden
• Hannstar Board
• AT&S
• Rhyming Technology
• Sanmina Corporation
• Wurth Elektronik Group
• Becker & Muller Schaltungsdruck GmbH
• Advanced Circuits Inc
• Sumitomo Corporation
• Murrietta Circuits

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Recent Developments:

• In May 2025, Nvidia and Foxconn are partnering to build Taiwan’s leading AI supercomputing center, boosting AI innovation and server market growth.
• In Feb 2025, Taiwan’s Unimicron faces a ransomware attack with 377 giga bytes of data threatened for release, highlighting increasing cyber risks in electronics manufacturing.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6.  Competitive Landscape

7. Printed Circuit Board (PCB) Market, by Product Type

8. Printed Circuit Board (PCB) Market, by Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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