Europe Printed Circuit Board Industry Overview
|Study Period:||2018 -2028|
*Disclaimer: Major Players sorted in no particular order
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Europe Printed Circuit Board Market Analysis
The European printed circuit board (PCB) market is expected to reach a value of USD 2,792.3 million in the next five years, registering a CAGR of 2.8% over the forecast period. Moreover, Europe's printed circuit board (PCB) production volume is expected to register a CAGR of 6.7% over the forecast period and reach a value of 449.1 million.
- PCBs adoption in connected vehicles accelerated the market. These vehicles have been fully equipped with both wired and wireless technologies, making it easy for them to connect to computing devices like smartphones. With such technology, drivers can unlock their vehicles, start climate control systems remotely, check their electric car's battery status, and track their vehicles using smartphones.
- Electronic components miniaturization made it possible to build small portable and handheld computing devices that can be carried anywhere. As a result, smaller and lighter devices having high processing capacity are available on the market. They are becoming more wearable since components can be easily embedded (for example: in clothing and bags) and carried for long periods.
- In recent years, the European PCB manufacturing sector is witnessing robust investments in technological advancements and capacity expansions. For instance, in September 2022, Unimicron Germany, headquartered in Geldern, committed EUR 12 million (USD 12.89 million) to a new facility and advanced high-tech PCB production processes. The new structure is adjacent to the inner layer manufacturing, which was completed in 2018 and is one of the most modern in Europe. According to the company, the investment will help it enhance its technological leadership in printed circuit board technology and sustainability.
- Miniaturization in electronic devices comprises fitting more transistor nodes on a smaller integrated circuit. The IC is then interfaced within its intended system or device so that, once assembled, the system can perform the desired function. Optimizing size, weight, and power (SWaP) is the latest technology in electronics manufacturing. Be it aerospace, medical, defense, telecommunications, or the consumer market, the need of the hour is a miniaturized product without compromising computing capability and efficiency.
- The COVID-19 pandemic had a significant impact on the region's economy. Many end-user industries were concerned, including those in electronics manufacturing. However, in the post-pandemic scenario, the market is witnessing growth due to many regional governments pushing the semiconductor industry.
Europe Printed Circuit Board Industry Segments
A printed circuit board, or PCB, helps mechanically and electrically connect electronic components utilizing conductive pathways, tracks, or signal traces engraved from copper sheets laminated onto a non-conductive substrate. PCBs dominate electronic devices and can be easily identified as green-colored boards.
The Europe Printed Circuit Board Market is segmented by Category (Standard Multilayer PCBs, Rigid 1-2-sided PCBs, HDI/Micro-via/Build-up, Flexible PCBs, Rigid-flex PCBs, and other categories), End-user Vertical (Industrial Electronics, Aerospace & Defense, Consumer Electronics, Communications, Automotive, Medical, and other end-user verticals), Country (United Kingdom, Germany, France, Italy, Spain, and rest of Europe). The report offers market forecasts and size in volume (million units) and value (USD million) for all the above segments.
|Standard Multilayer PCBs|
|Rigid 1-2-sided PCBs|
|Rigid Flex PCBs|
|By End-user Vertical|
|Aerospace and Defense|
|Other End-user Verticals|
|Rest of Europe|
Europe Printed Circuit Board Market Trends
Increasing Adoption of Flexible and Flex-Rigid PCBs to Drive the Market
- Increasing adoption of flexible and flex-rigid PCBs (wearable electronics, flexible displays, and medical applications) is expected to drive the European PCB market.
- Europe is undergoing multiple product launches due to the augmented demand for wearables and growing fitness activities. In addition, the Government of France is implementing national digital platforms, such as Electronic Patient Environment (ENS), for every citizen to facilitate safe and easy access to digital services and information for healthcare users and providers.
- ENS development was made possible with the new Care Act, where citizens can access all their care information and services (secure messaging, teleconsulting, the appointment system, and connected wearables, among others). It is expected to drive market growth.
- The need for multilayer flexible PCBs is increasing throughout Europe. These circuit boards are usually created by mixing single and double-sided circuits. The product includes several advantages: higher assembly density, increased flexibility, less requirement for the connecting wiring harness, smaller size, and more straightforward incorporation of impedance-controlled features. Further, as a result, multilayer flexible PCBs are expected to gain widespread adoption in various industrial sectors, including the aerospace industry. Multiple companies have been working tirelessly to introduce new technologies, giving competitors a competitive advantage.
- Medical applications are continuously looking for ways to improve their functionality. A multilayer circuit board can handle all of the necessary control functions in these cases. However, these applications require greater flexibility and portability. Devices are becoming smaller while becoming more complicated. The various packaging criteria for blood glucose monitors, heart monitors, and intravenous treatment infusion pumps can limit the space amount within the device for the essential circuitry.
- Rigid-flex PCBs have printed circuit boards with rigid and flexible parts, making them suitable for various applications. Because of their high stress-absorbing capability and space-saving properties, Rigid-Flex PCBs have been used by the automotive industry. These PCBs have a longer life than standard rigid PCBs and are more reliable even under harsh environments. PCBs are often found in control modules, LCD screens, entertainment and control systems, and other applications.
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Germany Holds Major Market Share
- Germany is one of the prominent regions in the automotive industry. The semiconductor companies are actively investing in innovations for emerging autonomous vehicles in the country along with the automotive manufacturers. The favorable government initiatives majorly trigger the investments which further drive the market.
- The regional players are also key suppliers to foreign players, strengthening the region's market. For instance, before the pandemic, Aixtron SE, a German-based European technology company, received an order from the Japanese group Sumitomo Electric Device Innovations, Inc. (SEDI) for an AIX G5+ tool with an 8x6-inch wafer configuration to expand the production capacity of GaN-on-SiC (gallium nitride-on-silicon carbide) radio frequency (RF) devices. It is for wireless applications such as radars, satellite communication, and base stations for the rapidly expanding 5G mobile networks.
- According to KBA, the number of new electric vehicles registered in Germany increased dramatically in recent years. From January to November of 2022, 366,234 new electric cars were registered. In March 2022, the electric vehicle company Tesla opened its first European factory in Grünheide, near Berlin, Germany. At total capacity, the plant is expected to produce 500,000 cars annually, with initial plans to build 1,000 vehicles per week at the six-week mark, increasing to 5,000 per week by the end of 2022. Such developments will further propel the demand for PCBs as they form an essential component of Electric Vehicles.
- The electricity grid in the country needs help to cope with the extent of renewable and distributed energy in the country, and many major power projects are on hold. At the same time, the government endeavors to adapt the grid to the new demands placed upon it. The measures by the four national grid operators to boost power transmission capacity sufficiently add up to a cost of EUR 50 billion (USD 53.69 billion). It is likely to escalate the usage of PLC to accumulate data and further take successive measures, thereby fueling the PLC market.
- Many vendors in the market have flexible platforms for dry-film patterning and solder mask imaging designed for PCB manufacturers. For instance, Limata, a provider of Direct Imaging (DI) systems for PCB manufacturing and adjacent markets, introduced the X1000, a flexible, cost-efficient system platform for dry-film patterning and solder mask imaging designed for PCB manufacturers with quick turnaround production configurations.
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Europe Printed Circuit Board Market Competitor Analysis
Europe's Printed Circuit Board Market is highly fragmented, with significant players like Jabil Inc., Aspocomp Group PLC, KSG GmbH, Benchmark Electronics Inc., and Wurth Elektronik Group (Wurth Group), among others. Players in the market are adopting strategies such as partnerships, mergers, investments, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
- August 2022 - Würth Elektronik ICS expanded its operations in Italy by establishing Würth Elektronik ICS Italia Srl. However, the company decided to expand its presence further in Europe due to rising demand and many mobile machinery and commercial vehicle manufacturers in Italy.
- June 2022 - KSG designed an innovative vacuum etching module that minimizes the puddling effect during the etching process to make it as efficient as possible. The transport rollers' optimal placement also ensures improved run-off characteristics for the process chemistry. Furthermore, intermittent etching with individual nozzle control improves copper etching, resulting in a more uniform etching pattern on the top and bottom sides of the printed circuit board.
Europe Printed Circuit Board Market Top Players
Aspocomp Group PLC
Benchmark Electronics Inc.
Wurth Elektronik Group (Wurth Group)
*Disclaimer: Major Players sorted in no particular order
Europe Printed Circuit Board Market Recent Developments
- December 2022 - ICAPE Group announced the acquisition of 100% of the shares in MMAB Group, a Swedish PCB manufacturer and distributor. MMAB Group's addition confirms the company's external growth target for 2022, securing USD 35 million in additional revenue. With its proven ability to make acquisitions, the company intends to pursue this offensive strategy in the short and medium term while maintaining a policy of optimizing organization and solid organic growth.
- November 2022 - UnimicronGermany, headquartered in Geldern, North Rhine-Westphalia, committed to investing an additional EUR 12 million (USD 12.89 million) in new infrastructure, equipment, and buildings in 2022.
Europe Printed Circuit Board Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products and Services
4.2.5 Degree of Competition
4.3 Industry Value Chain Analysis
4.3.1 Typical PCB Manufacturing Workflow
4.4 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising demand for miniaturization of technology and growth in diversity and density of PCBs
5.1.2 Increasing R&D and investments in PCB manufacturing in Europe
5.1.3 Increasing adoption of flexible and flex-rigid PCBs (Wearable electronics, Flexible displays and Medical applications)
5.2 Market Restraints
5.2.1 Increasing complexity due to miniaturization of components
5.2.2 Strict requirements to comply with legislations
6. MARKET SEGMENTATION
6.1 By Category
6.1.1 Standard Multilayer PCBs
6.1.2 Rigid 1-2-sided PCBs
6.1.4 Flexible PCBs
6.1.5 Rigid Flex PCBs
6.1.6 Other Categories
6.2 By End-user Vertical
6.2.1 Industrial Electronics
6.2.2 Aerospace and Defense
6.2.3 Consumer Electronics
6.2.7 Other End-user Verticals
6.3 By Country
6.3.1 United Kingdom
6.3.6 Rest of Europe
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 Jabil Inc.
7.1.2 Aspocomp Group PLC
7.1.3 KSG GmbH
7.1.4 Benchmark Electronics Inc.
7.1.5 Wurth Elektronik Group (Wurth Group)
7.1.6 LeitOn GmbH
7.1.7 MicroCirtec Micro Circuit Technology GmbH
7.1.8 Becker & Muller Schaltungsdruck GmbH
7.1.9 AT&S Austria Technologies & Systemtechnik AG
7.1.10 MEKTEC Europe GmbH (Nippon Mektron Ltd)
7.1.11 Unimicron Technology Corporation
7.1.12 Sumitomo Electric Industries Ltd (Sumitomo Corporation)
7.1.13 ICAPE Group
7.1.14 Elvia PCB Group
7.1.15 Fujikura Ltd
7.1.16 Multek Corporation
7.1.17 NCAB Group
7.1.18 Exception PCB Limited
7.1.19 Lab Circuits
7.1.21 TTM Technologies Inc.
8. MARKET OUTLOOK
Europe Printed Circuit Board Market Research FAQs
What is the study period of this market?
The Europe PCB Market market is studied from 2018 - 2028.
What is the growth rate of Europe PCB Market?
The Europe PCB Market is growing at a CAGR of 6.7% over the next 5 years.
Who are the key players in Europe PCB Market?
Jabil Inc., Aspocomp Group PLC, KSG GmbH, Benchmark Electronics Inc., Wurth Elektronik Group (Wurth Group) are the major companies operating in Europe PCB Market.
Europe PCB Industry Reports
In-depth industry statistics and market share insights of the Europe Printed Circuit Board sector for 2020, 2021, and 2022. The Europe Printed Circuit Board research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Europe Printed Circuit Board report PDF.