Market Research Future (MRFR) in its current “Automotive PCB Market Revenue ” report reveals that the market is likely to capture a 5.98% CAGR during the forecast years of 2018 to 2023. The rise in demand for PCB has surged in past years and is likely to continue in the coming years. This is expected to be the major factor that can amplify the expansion of the Automotive PCB Market Revenue . Automakers are increasingly relying on cutting-edge electronic circuit solutions to enhance vehicular features, such as safety, convenience, performance, connectivity, and others. Automobile manufacturers are deploying advanced technologies, which is expected to benefit the market. PCBs bolster a wide range of automotive applications, which is expected to rise the profit margin for the market.
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The automotive PCB market segmental study is based PCB type, vehicle type, level of autonomous driving, end-user, and application.
By vehicle type, the market is classified into battery electric vehicles (BEVs), internal combustion engine (ICE) vehicles, and hybrid electric vehicles (HEVs). The ICE segment is likely to surpass a valuation of USD 9,000 Mn by 2023, as vehicle with internal combustion engines dominates the market.
By PCB type, the market is segmented into double-sided, multi-layer, and single-side. In 2017, the single-sided segment was accounted for 50% share of the total market share. By 2023, the segment is expected to value above USD 5,400 Mn.
By end user, the market is divided into passenger cars and commercial cars . The passenger car segment is likely to value at USD 7,700 Mn by 2023 owing to the increase in the sales count of passenger cars.
By level of autonomous driving, the market is segmented into semi-autonomous, conventional, and autonomous. The conventional segment is anticipated to hold the pole position. It is expected to expand at a CAGR of 5.78% by 2023. Alongside, the growing inclination for vehicle automation is expected to generate attractive opportunities for the market to trend up.
By application, the market is segmented into infotainment system, ADAS, body and comfort, powertrain components, and others. The infotainment system segment to secure a sizable share of the market. The segment is likely to thrive at a 6.24% CAGR in the assessment years due to upgradations made in infotainment systems that serve as better assistance for drivers and passengers.
North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA) are key regions across which the Automotive PCB Market Revenue is studied. The APAC market is likely to lead in globally across the forecast period. Recently, APAC has emerged to be one of the major investment destinations for automakers and OEMs. China is expected to profit by gaining the largest share of the APAC Automotive PCB Market Revenue , as It is the home to some of the largest automobile manufacturers. Additional causes, such as support from the regional governments in enhancing automotive features and increase in investment by cash-rich high-tech companies for the same can surge the regional market. North America and Europe are two other important regions, where the Automotive PCB Market Revenue is expected to flourish.
MRFR listed strong contenders of the global Automotive PCB Market Revenue . They are; AT & S Austria Technologies & Systemtechnik Aktiengesellschaft, KCE Group, CMK CORPORATION, SAMSUNG ELECTRO-MECHANICS, MEIKO ELECTRONICS Co., LTd., Unimicron Corporation, Tripod Technology Corporation, NIPPON MEKTRON, LTD., Daeduck Electronics Co., Ltd., CHIN-POON INDUSTRIAL CO., LTD., and TTM Technologies. The intensifying competition among key players to favor the market. Mergers and acquisitions, bonds and deals, strategic collaboration, and partnerships among these players are expected to promote the market growth.
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