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Indian PCB Market to Reach $5.35 Billion by 2023
December 21, 2018 | Globe NewswireEstimated reading time: 2 minutes
The printed circuit board (PCB) market in India was worth US$ 2.02 billion in 2017. PCBs are non-conductive, copper laminated boards that help to connect electronic and electrical components without the use of wires. These boards are composed of epoxy, fiberglass and other composite materials which reduce the complexity of the overall circuit design. PCBs are installed in various electronic products, ranging from consumer gadgets, such as PCs, tablets, smartphones and gaming consoles, to industrial and high-tech products.
Over the past few years, the demand for PCBs in India has witnessed a steady rise on account of increasing investment in digitization and favorable government initiatives.
Looking forward, this market is projected to cross $5.35 Billion by 2023, exhibiting a CAGR of 17.7% during 2018-2023.
Indian Printed Circuit Board (PCB) Market: Drivers
India represents one of the largest and fastest growing consumer electronics market in the Asia Pacific region. Computers, laptops, mobile phones, etc. often use rigid PCBs in areas vital to the functionality of these devices, such as the motherboard, thereby creating a positive impact on the growth of the PCB industry.
PCBs find application in large number of industries which includes electronic products, automotive (dashboards, engine management system, power supplies etc.), medical (heart monitors, imaging probes, drug metering devices), defence (radar, armoured car control and security), lighting, broadcasting, Aerospace etc. It represents the foundation of a majority of electronic products and continues to evolve into new industries and applications.
The advancements made in the PCB functionalities and manufacturing along with the miniaturisation of semiconductor devices are expected to drive the demand for more complex PCBs with higher number of layers.
The Government of India is strongly encouraging the manufacturing and usage of PCBs in the country. It has launched many initiatives such as Make in India', Digital India' etc. Under these schemes, the government aims to encourage manufacturers to set up more local plants in the country by easing tax regime, reducing bureaucratic hurdles, etc. This is expected to bring in significant achievement in various end-use industries (automotive, electrical, etc.), thereby creating a positive impact on the overall PCB demand.
PCBs are the backbone of the electronics industry as it is deployed in almost all the electronic products from consumer gadgets to industrial high-tech products. The Indian electronic devices market has witnessed double digit growth rates driven by rising disposable incomes and increasing urbanization levels in the country. This coupled with miniaturization of semiconductor devices and enhanced functionality in electronic products is expected to drive the demand for more complex PCBs in the near future.
PCBs represent a fundamental component for the manufacturing of devices which are required for military navigation, guidance and control, electronic warfare, missiles and surveillance, and communication. India currently has the 5th largest defense budget in the world and these figures are expected to increase continuously over the next five years. Moreover, catalyzed by rising demand and increasing government initiatives, the defense equipment manufacturing industry in the country is also undergoing strong growth. This is also expected to drive the demand of PCBs in the next five years.
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Statement from the Global Electronics Association on the July 2025 Tariff on Copper Foil and Electronics-Grade Copper Inputs
07/31/2025 | Global Electronics AssociationWe are disappointed by today’s decision to impose a 50% tariff on imported copper foil and other essential materials critical to electronics manufacturing in the United States.
Considering the Future of Impending Copper Tariffs
07/30/2025 | I-Connect007 Editorial TeamThe Global Electronics Association is alerting industry members that a potential 50% tariff on copper could hit U.S. electronics manufacturers where it hurts.
Connect the Dots: Sequential Lamination in HDI PCB Manufacturing
07/31/2025 | Matt Stevenson -- Column: Connect the DotsAs HDI technology becomes mainstream in high-speed and miniaturized electronics, understanding the PCB manufacturing process can help PCB design engineers create successful, cost-effective designs using advanced technologies. Designs that incorporate blind and buried vias, boards with space constraints, sensitive signal integrity requirements, or internal heat dissipation concerns are often candidates for HDI technology and usually require sequential lamination to satisfy the requirements.
OKI Launches Rigid-Flex PCBs with Embedded Copper Coins Featuring Improved Heat Dissipation for Space Equipment Applications
07/29/2025 | BUSINESS WIREOKI Circuit Technology, the OKI Group’s printed circuit board (PCB) business company, has developed rigid-flex PCBs with embedded copper coins that offer improved heat dissipation for use in rockets and satellite-mounted equipment operating in vacuum environments.
Designers Notebook: Basic PCB Planning Criteria—Establishing Design Constraints
07/22/2025 | Vern Solberg -- Column: Designer's NotebookPrinted circuit board development flows more smoothly when all critical issues are predefined and understood from the start. As a basic planning strategy, the designer must first consider the product performance criteria, then determine the specific industry standards or specifications that the product must meet. Planning also includes a review of all significant issues that may affect the product’s manufacture, performance, reliability, overall quality, and safety.