Printed Circuit Board Market
Report ID: SQSG45K2010
Report ID: SQSG45K2010
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Report ID:
SQSG45K2010 |
Region:
Global |
Published Date: August, 2025
Pages:
182
|Tables:
218
|Figures:
80
Global Printed Circuit Board USD 89.21 Billion in 2024 Market size was valued at USD 94.3 Billion in 2025 and is poised to grow from USD 146.92 Billion by 2033 to 5.7%, growing at a CAGR of (2026–2033) during the forecast period (2025-2032).
The printed circuit board (PCB) industry is intimately tied to the broader dynamics of the electronics and technology sectors. Along with shifting industries, new technologies like 5G, IoT, and AI are driving up demand for complex PCBs and influencing PCB design to keep up with these developments. The number of IoT devices is predicted to rise from 12,393 million in 2023 to 25,150 million by 2027, demonstrating the increasing reliance on PCBs in a range of applications.
The global printed circuit board market growth is driven due to the electronics industry's increasing demand for additive manufacturing, which creates precise components. Furthermore, producers of additive manufacturing have been stepping up their efforts to create printed circuit boards that surpass the prototyping stage. Consequently, it contributes to improving the performance and functionality of the devices. As additive manufacturing and 3D printing continue to advance, the printed circuit board market is currently growing at a faster rate.
Which Industries are Leading IoT-Driven PCB Adoption?
The printed circuit board (PCB) market outlook is undergoing a significant transformation due to the integration of the Internet of Things (IoT), which is increasing demand for small, high-performance, multi-layered PCBs. PCB manufacturers are being forced to innovate with flexible substrates, HDI (High-Density Interconnect) boards, and improved signal integrity because IoT devices need to process data quickly and communicate wirelessly. This trend is especially noticeable in industrial automation, smart homes, and medical equipment. Zhen Ding Tech formed a strategic alliance with a top wearable technology company in March 2025 to create ultra-thin printed circuit boards (PCBs) for wearables that use Internet of Things connectivity for next-generation health monitoring. This partnership serves as an example of how the Internet of Things is rapidly influencing PCB applications and designs in the future.
Market snapshot - 2025-2032
Global Market Size
USD 84.4 Billion
Largest Segment
Rigid
Fastest Growth
Flexible
Growth Rate
5.7% CAGR
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The global printed circuit board market is segmented into product type, end user, substrate, and region. By product type, the market is classified into standard multilayer PCBs, rigid 1–2-sided PCBs, hdi/micro-via/build-up, flexible PCBs, and rigid-flex PCBs. Depending on the end user, it is divided into industrial electronics, healthcare, aerospace & defense, automotive, and consumer electronics. According to substrate, the market is categorized into rigid, flexible, and rigid flex. Regionally, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Why are Standard Multilayer PCBs the Backbone of Advanced Electronics?
As per the 2024 printed circuit board market analysis, the standard multilayer PCBs segment had the biggest market share because of their widespread application in telecommunications, automotive, and consumer electronics. These boards are perfect for smartphones and sophisticated automotive systems because they can handle intricate circuitry and high-density connections. For example, the launch of Samsung's Galaxy S24 Ultra in March 2024, which reduced device thickness and improved performance using multilayer PCBs, cemented the segment's dominance in high-demand verticals.
The hDI/micro-via/build-up PCBs category is anticipated to grow at the fastest rate during the projection period as a result of wearable and smartphone shrinking printed circuit board industry trends. They are essential for IoT and 5G applications due to their capacity to facilitate small layouts and fast communications. OEMs in consumer and medical electronics are increasingly using HDI solutions because of the growing demand for lightweight devices and better connectivity.
How do Rigid PCBs Ensure Durability in High-Stress Environments?
As per the 2024 printed circuit board market forecast, the rigid segment contributed the most to market share (by volume) because of their structural integrity and continued development for servers, desktops, and industrial systems. For instance, in July 2024, Dell introduced new lines of enterprise servers and would use as many rigid boards as possible that they could depend on for supporting high heat loads. Rigid PCBs are economical and extremely easy to fabricate PCB, which is still drawing in conventional electronics and the transportation industry worldwide.
The flexible category is expected to have the highest printed circuit board market share because of the growing demand for foldable devices, medical wearables, and small IoT modules. Their versatility, portability and ability to save space make them a natural fit for next-generation smart devices where conventional rigid-form factors won't fit.
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How is reshoring and defense spending shaping North America’s PCB market?
As per the printed circuit board market regional analysis, the aerospace, defense, and consumer electronics sectors are the main drivers of the PCB market in North America. Jabil, a U.S.-based company, increased the scope of its sophisticated PCB prototyping services in 2024 to satisfy defense-grade requirements. Demand is being driven by the industrial sectors' adoption of IoT and the region's emphasis on safe, high-performance systems. Furthermore, until 2025, local manufacturing and PCB design innovation are being accelerated by pro-trade legislation and reshoring initiatives in the US and Canada.
Printed Circuit Board Market in the U.S.
The defense and automotive electronics sectors in the US contributed to the growth of the printed circuit board industry. TTM Technologies was given a contract by the U.S. Department of Defense in February 2024 to increase production of military-grade PCBs. Domestic PCB infrastructure is being strengthened as a major technology focus area through 2025 because of rising investments in semiconductors, electric vehicles, and medical devices, which are raising the complexity and volume of PCB designs.
Printed Circuit Board Market in Canada
The expansion of smart medical devices and industrial equipment supports the PCB industry in Canada. Toronto-based Celestica unveiled improvements to its PCB design for its health-tech clients in May 2024. Canada is currently a growing niche supplier to North America's advanced electronics industry due to its emphasis on clean energy solutions and AI-integrated manufacturing, which has increased demand for high-reliability PCBs.
How is Europe driving sustainable PCB innovation across automotive and industrial sectors?
The demand from telecom infrastructure, industrial automation, and electric vehicles is driving growth in the European PCB market. In 2024, Bosch and Zollner Elektronik of Germany collaborated to create multilayer printed circuit boards for intelligent transportation platforms. The use of environmentally friendly PCB materials and modular board designs is being fueled by stringent EU regulations on energy efficiency and the disposal of electronic waste, especially in France, Germany, and the UK.
Printed Circuit Board Market in UK
R&D and innovation in the automotive and aerospace industries support the UK printed circuit board market. Trackwise Designs, a Cambridge-based company, added vertical takeoff aircraft systems to their list of flexible PCB production options in August 2024. The demand for lightweight, high-performance PCBs is expected to increase through 2025 as a result of the drive toward electric vehicles and the development of defense technology.
Printed Circuit Board Market in France
Industrial automation and telecommunications are the main drivers of PCB growth in France. Alstom declared in January 2025 that its next-generation trains would use AI-enhanced PCBs. The demand for multilayer and rigid-flex PCBs is supported by the nation's emphasis on smart grid infrastructure and sustainable electronics, especially for applications involving renewable energy and public transportation.
Printed Circuit Board Market in Germany
Germany's thriving automotive and manufacturing industries continue to make it a center for PCB innovation. Infineon Technologies adjusted its PCB designs in March 2024 to take into consideration the increased thermal loads present in EV powertrains. Germany's leadership in smart manufacturing and Industry 4.0 guarantees sustained investment in cutting-edge PCB technologies, particularly in rigid and HDI formats.
Why does Asia-Pacific dominate the global PCB market in volume and innovation?
Asia-Pacific's robust electronics manufacturing base has allowed it to dominate the global printed circuit board sector. China, India, and South Korea are some of the nations making significant investments in semiconductor ecosystems. Apple supplier Foxconn increased the size of its multilayer PCB manufacturing facilities in Vietnam and India in 2024. 5G rollouts, growing consumer electronics, and the demand for electric vehicles will all contribute to growth.
Printed Circuit Board Market in India
The "Make in India" campaign and increased domestic electronics manufacturing are driving growth in the PCB market in India. VVDN Technologies, which serves telecom and industrial clients, opened a new PCB fabrication facility in Haryana in October 2024. By 2025, India is expected to become a regional center for PCB manufacturing due to government incentives and the growing demand for EVs and consumer electronics.
Printed Circuit Board Market in China
China is the world leader in PCB production due to its extensive consumer electronics and communications infrastructure. In July 2024, Huawei made an investment in AI-powered PCB testing systems to hasten the development of 5G equipment. China has maintained its position as the world leader in the fabrication of both low- and high-complexity PCBs due to government support for semiconductor self-reliance and low-cost production capabilities.
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Printed Circuit Board Market Drivers
Rising Need for High-Density Interconnect (HDI) PCBs
Integrating Smart Vehicles with Automotive Electrification
Printed Circuit Board Market Restraints
High Production Costs and Complexity of Sophisticated PCBs
Price of Raw Materials, Supply Chain Volatility, and Disruptions
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Large companies like Zhen Ding, Nippon Mektron, and Unimicron control the high-end segments of the moderately consolidated global printed circuit board market. To diversify geopolitical risk, strategic goals include investing in AI-based production systems, growing into EV and 5G infrastructure, and establishing locations outside of China. While businesses like Wurth Elektronik are implementing more ecologically friendly practices to meet sustainability goals, AT&S and TTM are giving priority to the development of HDI and IC substrates.
Recent Developments in Printed Circuit Board Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global printed circuit board market is growing because of expansion of 5G services, the rise of EV adoption, and demand for HDI and flex circuits. Innovations in flex PCBs and green manufacturing allow for a more efficient and sustainable future, while the impacts of the supply chain disruptions and complex production continue to be felt. The leaders in this sector are focusing on smart factories, regional variations, and customization of products. The rise of companies such as Elephantech, and Log9 Materials is changing the landscape of the PCB market with new materials and a focus on the environment. They are influencing the continued adoption of scalable, environmentally friendly technology. PCB will continue to be an important player in the next-generation electronics ecosystem.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 94.3 Billion |
| Market size value in 2033 | USD 146.92 Billion |
| Growth Rate | (2026–2033) during the forecast period (2025-2032).% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Printed Circuit Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Printed Circuit Board Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Printed Circuit Board Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Printed Circuit Board Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global Printed Circuit Board USD 89.21 Billion in 2024 Market size was valued at USD 94.3 Billion in 2025 and is poised to grow from USD 146.92 Billion by 2033 to 5.7%, growing at a CAGR of (2026–2033) during the forecast period (2025-2032).
Large companies like Zhen Ding, Nippon Mektron, and Unimicron control the high-end segments of the moderately consolidated global printed circuit board market. To diversify geopolitical risk, strategic goals include investing in AI-based production systems, growing into EV and 5G infrastructure, and establishing locations outside of China. While businesses like Wurth Elektronik are implementing more ecologically friendly practices to meet sustainability goals, AT&S and TTM are giving priority to the development of HDI and IC substrates. 'Unimicron Technology Corp.', 'Jiva Materials', 'Amber Group', 'Zhen Ding Technology Holding', 'Nippon Mektron Ltd.', 'Compeq Manufacturing Co., Ltd.', 'Tripod Technology Corp.', 'TTM Technologies Inc.', 'AT&S AG', 'Jabil Inc.', 'Wurth Elektronik GmbH & Co. KG', 'Sanmina Corporation', 'Advanced Circuits', 'Ibiden Co., Ltd.'
HDI PCBs are becoming more necessary for effective signal routing in constrained spaces as electronic devices continue to get smaller and more complex. Better electrical performance, higher circuit densities, and finer lines are supported by these PCBs. The use of HDI PCBs has grown dramatically since the introduction of 5G smartphones and wearable technology, which have improved speed and performance in consumer electronics and telecom infrastructure worldwide.
Increasing Adoption of Flex and Rigid Flex PCBs: Flex and rigid-flex PCBs are being adopted for wearables, medical implants, foldable smartphones, and aerospace systems due to their bendability and size. These boards offer compact, rugged solutions for high-demand applications. It is projected that flex and rigid-flex PCBs will be more than 16% of worldwide PCB sales by 2025 and will continue to grow with the emergence of smart textiles and portable medical diagnostics.
How is reshoring and defense spending shaping North America’s PCB market?
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