Global PCB Market Forecast to Reach $86.5 Billion by 2029 with 5.9% Annual Growth

Estimated reading time: 2 minutes

The printed circuit board market size has witnessed steady growth in recent years and the trend is anticipated to continue. Increasing from $65.82 billion in 2024 to $68.75 billion in 2025, it showcases a compound annual growth rate CAGR of 4.5%. Drivers fueling this growth during the historic period include the growing demand for electric vehicles, escalated demand from the healthcare sector, strong economic growth in emerging markets and amplified demand for industrial robots in the manufacturing sector.

Is the Printed Circuit Board Market Set to Witness Substantial Growth?

Projected to rise to $86.5 billion in 2029, the market growth, signifying a compound annual growth rate CAGR of 5.9%, is anticipated to be propelled by increasing demand for eco-friendly PCB’s, inflowing investments in 5G technology and telecom infrastructure, burgeoning growth in IoT devices and escalating digitalization.

What Drives The Printed Circuit Board Market Growth?

Critically, the increasing sales of electric vehicles are foreseen to bolster the growth of the printed circuit board market in the forecast period. Electric vehicles EVs, powered partially or entirely by electricity, utilize printed circuit boards PCBs to connect electrical components such as basic audio and display systems. PCBs are also instrumental in the production of charging stations, facilitating charging for electric vehicle users.

Who Are The Key Players In The Printed Circuit Board Market

Impacting the market's trajectory, a host of consolidated players operating in the printed circuit board market include Zhen Ding Technology Holding Limited, Unimicron Technology Corporation, TTM Technologies Inc., NOK CORPORATION, Tripod Technology Corporation, AT&S Austria Technologie & Systemtechnik AG, and more. These market leaders continually invest in the development and innovation of their product portfolios.

What Are The Emerging Trends In The Printed Circuit Board Market?

A major trend shaping the sector is the use of biodegradable materials in printed circuit boards PCBs. Manufacturers are pivoting towards reducing electronic waste by substituting standard substrates with more environmentally friendly alternatives, thus potentially reducing the electronics sector's overall environmental impact and possibly lowering assembly and production costs.

How Is The Printed Circuit Board Market Segmented?

The printed circuit board market is segmentized by type, substrate, laminate type, and end-use industry. The types cover Single Sided, Double Sided, Multi-Layer, High Density Interconnect HDI, and Other Types. Substrate includes Rigid, Flexible, Rigid-Flex, while laminate type includes FR-4, Polyimide, and Other Laminate Types. The various end-use industries include Industrial Electronics, Healthcare, Aerospace And Defense, Automotive, IT And Telecom, Consumer Electronics, among others.

What Is The Regional Analysis Of Printed Circuit Board Market?

Geographically, Asia-Pacific held the lead in the printed circuit board market in 2024. It is also the region projected for the fastest growth in the forecast period. The regions analysed in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.