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Automotive PCB Market is Projected to Reach $25.6B by 2031, Rise in Adoption of Mobility 4.0 Gains Traction
June 7, 2023 | Globe NewswireEstimated reading time: Less than a minute
Transparency Market Research Inc. - The global automotive PCB market size stood at US$ 13.2 Bn in 2022 and is expected to be valued at US$ 25.6 Bn by 2031. The global industry is projected to develop at a CAGR of 7.7% between 2023 and 2031. Increasing market demand for next-generation automobiles and growing adoption of Mobility 4.0 are anticipated to propel the automotive PCB industry growth.
Connecting the electrical systems in vehicles can be done using printed circuit boards (PCBs), which are compact, affordable, and dependable. Increased use of CASE automotive technology is projected to fuel market development.
Manufacturers of automotive PCBs are expected to benefit from the advent of semi-autonomous and autonomous automobiles. Performance and dependability of automotive PCBs are enhanced by investments by key manufacturers in the R&D of novel materials and technology.
In the automobile sector, PCBs are frequently utilized for various tasks, including managing the gearbox, infotainment, lighting systems, and other electrical parts. They offer a compact, affordable, and dependable connection option for automotive electronics. Circuit boards for automobiles must also survive extreme temperatures and vibration. Consequently, they demand unique design considerations and premium components.
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