Global Flexible PCB Market Report 2022: Increasing Demand from Automotive Industry Driving Growth
November 15, 2022 | Globe NewswireEstimated reading time: 2 minutes
![](https://iconnect007.com/application/files/2816/9540/5861/market_sales_revenue_adobestockfree_Aug2022.jpeg)
The "Global Flexible Printed Circuit Board Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The market is expected to surge in the coming years due to the rising use of flexible printed circuit boards in consumer electronics, especially smartphones, laptops, displays, and other electronic devices. According to official industrial sources, around 1.5 billion smartphones were sold in the year 2019, due to the rise in disposable income and increasing mobile data connectivity. Countries such as China, India, and the United States are expected to play a significant role in the market growth in the coming years.
According to the data given by the India Brand Equity Foundation, India's consumer electronics and appliance market had reached around US$10.93 billion in the year 2019. Moreover, the market has been expected to reach over US$21.18 billion in the year 2025. China is also expected to play a significant role in the market growth in the coming years. The country has been the largest manufacturer of consumer electronics globally. The adoption of smart technologies has been one of the imperative factors that has been driving the market growth in the country. The increasing emphasis on research and development has been one of the key factors driving market growth.
Increasing demand in the automobile sector
The market has been expected to grow during the forecast period due to the rise in the demand for advanced and new flexible printed circuit boards in the automobile sector. According to the data given by the International Organisation of Motor Vehicle Manufacturers, around 92 million vehicles were manufactured and produced in the year 2019, worldwide. Flexible PCBs are used for the safety and improved efficiency of cars.
It is also used in rear LED lights, transmission controls, running lights, and control units. Moreover, flexible and rigid-flexible PCBs reduce and minimize the potential risks that lead to electrical failures. Moreover, the increasing demand for electric vehicles is also expected to surge the adoption of electronics and digital solutions. According to the data given by the International Energy Agency, around 2.1 million electric cars were sold in the year 2019. Moreover, the sales of electric cars also registered a 40% y-o-y surge in the same year. These trends and developments are projected to play a significant role in the market growth in the next few years.
Rising use in the aerospace and aviation sector
The market is expected to surge in the coming years due to the rising usage of flexible PCBs in satellites. According to the data given by Airbus and Boeing, two of the major aircraft producers in the market, over 1,750 aircraft were manufactured by these companies in the year 2019. The increasing aircraft traffic has been expected to play a significant role in the rise in the demand for aircraft, worldwide.
The flexible printed circuit boards are also used in satellites and other aerospace vehicles and solutions. With the increasing spending on the aerospace sector and the rising involvement of private players in this sector, the demand for novel and advanced flexible printing solutions has been expected to surge at a significant rate in the next few years. Space organizations, such as NASA, ISRO, and others, are expected to increase the adoption of flexible PCBs in the next few years.
Suggested Items
Altair Signs MoU With University of Nottingham to Develop Aerospace Digital Twin Project
07/25/2024 | PRNewswireAltair, a global leader in computational intelligence, has signed a memorandum of understanding (MoU) with the U.K.-based University of Nottingham for a digital twin project within the aerospace sector.
Collins Aerospace Relocating Singapore Plant to New $250M Manufacturing Facility in Seletar Aerospace Park, Singapore
07/25/2024 | Collins AerospaceCollins Aerospace, an RTX business, announced the relocation of its Singapore manufacturing facility to a new, state-of-the-art site in Seletar Aerospace Park, Singapore.
Innovative and Cost-effective BGA Re-balling
07/23/2024 | Shavi Spinzi, Nano Dimension/EssemtecA new, high-quality BGA re-balling process, which is integrated into an all-in-one solution of dispensing and placement equipment developed by Essemtec, brings new opportunities for the reapplication of expensive BGA components. This new method seamlessly integrates the sequence of flux deposition and ball (sphere) placement with the subsequent soldering process.
Vertical Aerospace Begins Testing on New VX4 Prototype
07/22/2024 | BUSINESS WIREVertical Aerospace, a global aerospace and technology company that is pioneering zero emissions aviation, announced that testing on its most advanced eVTOL aircraft, unveiled last week, has started with initial powered ground tests, including propeller balancing, successfully complete.
Aerospace Riveting Equipment Market to Surpass $160M Revenue till 2032
07/22/2024 | Global Market InsightsThe aerospace riveting equipment market will witness over 3.5% CAGR between 2024 and 2032, propelled by burgeoning partnerships among companies for distribution and expansion.