A Printed Circuit Board (PCB) is a board used to mechanically support and electrically connecting electronic or electrical components using pads, conductive tracks and other features. Application of PCB in automotive industry includes management of the engine, entertainment systems, radar, GPS, mirror controls, digital displays and power relays timing systems. OBRC analysis estimates that global automotive printed circuit board (PCB) market is expected to grow at a CAGR of 6.23% over forecast period 2017-2024. Rising integration of convenience, advanced safety and comfort systems in automobiles, increasing demand for electric vehicles, rising demand of vehicles coupled with infotainment systems are major factors propelling the demand of automotive PCB market across the globe.
Asia Pacific accounts the largest share and is expected to dominate global automotive PCB market over forecast period 2017-2024. Increasing adoption of electric cars and rising investments in automotive industry for advanced technologies are some of the factors boosting the automotive PCB market in region. OBRC analysis estimates, Asia Pacific holds more than 40% of the total automotive industry sales across the globe, making Asia Pacific most lucrative market for investment. In 2018, as per company sources, Kia Motors (South Korea) announced to invest $2 billion for production facility in India. In 2018, Hyundai planned to invest $1 billion by end 2020 to launch new electric car models and increase market presence. In 2018, as per company sources, Mahindra Group announced $135 million in Karnataka and Maharashtra on technology, product and manufacturing facility over the period of 2018-2022. The company have already invested $90 million in EVs segment in period 2012-2018.
By end-user type, automotive PCB market is segmented into Economic Light Duty Vehicles, Luxury Light Duty Vehicles and Mid-Priced Light Duty Vehicles, in which luxury light duty vehicles segment accounts the largest share as these vehicles are equipped with advanced electronics for safety features, comfort and convenience.
CMK (Japan), Chin Poon Industrial (Taiwan), Meiko Electronics (Japan), Nippon Mektron (Japan) and KCE Electronics (Thailand) are some of the key players in global automotive PCB market. Companies use various strategies such as merger & acquisition, research and development, collaboration, expansion, agreement, partnership launches to maintain their position in global automotive PCB market. Whereas, collaboration, research and development and expansion are the key strategies adopted by the companies in the global automotive PCB market.