LONDON, Oct. 19, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the printed circuit board market, increasing electric vehicle sales are expected to propel the growth of the printed circuit board market in the forecast period. Electric vehicles (EVs) are those that are powered entirely or partially by electricity. Printed circuit boards (PCBs) are used to connect electrical components in electric vehicles, such as simple audio and display systems. PCBs are also used in the production of charging stations, which allow electric vehicle users to charge their vehicles.
For instance, according to Bloomberg New Energy Finance (BNEF), a UK-based company that provides analysis, statistics, and news on the energy sector’s transition, EVs are predicted to account for 10% of worldwide passenger car sales by 2025, growing to 28% in 2030 and 58% in 2040.
The printed circuit board market consists of sales of printed circuit boards by entities (organizations, sole traders, and partnerships) that are used to connect electronic and electrical components without the use of wires. Printed circuit boards are electric boards which help wiring surface-mounted and socketed components that are contained within a mechanical structure in most electronics. Their primary function is to physically support and electrically attach electronic devices by printing conductive pathways, tracks, or signal traces on copper sheets attached to a non-conductive substrate.
The Business Research Company’s report titled Printed Circuit Board Global Market Report 2023 – By Type (Single Sided, Double Sided, Multi-Layer, High Density Interconnect (HDI)), By Substrate (Rigid, Flexible, Rigid-Flex), By Laminate Type (Paper, FR-4, Polymide), By End-Use Industry (Industrial Electronics, Healthcare, Aerospace And Defense, Automotive, IT And Telecom, Consumer Electronics), COVID-19 Growth And Change covers major printed circuit board companies, printed circuit board market share by company, printed circuit board manufacturers, printed circuit board market size, and printed circuit board market forecasts. The report also covers the global printed circuit board market and its segments.
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The global printed circuit board market is expected to grow from $50.88 billion in 2020 to $54.30 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The growth in the printed circuit board market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The printed circuit board market is expected to reach $68.38 billion in 2025 at a CAGR of 5.9%.
Asia Pacific was the largest region in the printed circuit board market in 2020. Asia Pacific is also expected to be the fastest-growing region in the forecast period. The regions covered in the printed circuit board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of printed circuit boards are single-sided, double-sided, multi-layered, high-density interconnect (HDI), and others. The single-sided PCBs are made of a single layer of base material where the conductive copper and components are mounted on one side of the board and the conductive wiring is connected on the other side. The different substrates include rigid, flexible, rigid-flex and consist of various laminate types such as paper, FR-4, polyimide, others. Printed circuit boards are used by various end-use industries such as industrial electronics, healthcare, aerospace & defense, automotive, IT and telecom, consumer electronics, and others.
In July 2020, Summit Interconnect, Inc., a US-based manufacturer of printed circuit boards acquired ITL Circuits for an undisclosed amount. Through this acquisition, ITL Circuits provides a significant expansion of Summit’s operations in North America. ITL Circuits is a Canada-based manufacturer of printed circuit boards.
Major players in the printed circuit board industry are TTM Technologies, Nippon Mektron Ltd, Samsung Electro-Mechanics, Unimicron Technology Corporation, Advanced Circuits, Tripod Technology Corporation, DAEDUCK ELECTRONICS Co.Ltd., Flex Ltd., Eltek Ltd, Sumitomo Electric Industries, Dongshan Precision, and Zhen Ding Technology Holding Limited (ZDT).
Printed Circuit Board Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide printed circuit board market overviews, printed circuit board market analyze and forecast market size and growth for the whole market, printed circuit board market segments and geographies, printed circuit board market trends, printed circuit board market drivers, printed circuit board market restraints, printed circuit board market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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