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Global Automotive PCB Market Projected to Reach to $12.43 billion by 2025
January 31, 2018 | PRNewswireEstimated reading time: 1 minute
The global automotive PCB market is estimated to be $8.21 billion in 2017 and is projected to reach to $12.43 billion by 2025, growing at a CAGR of 5.33% from 2017 to 2025. The market growth is primarily driven by factors such as increasing demand for safety and comfort features in a vehicle. However, the ECU consolidation is considered a restraint for the global automotive PCB market.
The Multi-Layer PCB segment is estimated to be the fastest growing segment of automotive PCB market in terms of value
The Multi-Layer PCB segment is estimated to be the fastest growing segment of the automotive PCB market during the forecast period. Most of the automotive OEMs are incorporating advanced electronic systems such as HUDs, reconfigurable instrument cluster, rear seat entertainment, drive mode selector, advanced telematics, and electric powertrain. This is anticipated to drive the multi-layer PCB market.
Luxury light duty vehicles segment is estimated to be the largest segment in the automotive PCB market in terms of value
Luxury light duty vehicles segment is estimated to hold the largest market size during the forecast period, as these vehicles are equipped with advanced vehicle electronics functions for comfort and convenience. The vehicle manufacturing companies are trying to introduce advanced functions, such as voice recognition, gesture control, and fatigue monitoring, to stand out among the competition. The increasing number of such applications is fueling the growth of automotive PCB market for luxury light duty vehicle segment.
Asia Pacific is estimated to be the fastest growing region for automotive PCB market in terms of volume
Asia Pacific is estimated to be the fastest growing region in the automotive PCB market during the forecast period. The region comprises technologically advanced markets for automotive such as China and Japan along with the developing countries such as India. The growing number of luxury vehicles and the increasing demand for advanced cockpit electronics and basic safety system are propelling the growth of automotive PCBs in the region.
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