PCB Market Size

Statistics for the 2023 & 2024 PCB market size, created by Mordor Intelligence™ Industry Reports. PCB size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of PCB Industry

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Printed Circuit Board Market Summary
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Study Period 2019-2029
Market Size (2024) USD 76.12 Billion
Market Size (2029) USD 93.87 Billion
CAGR (2024 - 2029) 4.28 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Printed Circuit Board Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Printed Circuit Board (PCB) Market Analysis

The PCB Market size is estimated at USD 76.12 billion in 2024, and is expected to reach USD 93.87 billion by 2029, growing at a CAGR of 4.28% during the forecast period (2024-2029).

The market is witnessing rapid growth because most modern electronic devices contain printed circuit boards (PCBs), thereby reducing the sizes of all products and making them more cost-effective. PCB (printed circuit board) is a key electronic component that supports the assembly of other electronic components and boosts circuit interconnection. It is called the “mother of electronic products”, and it is vital to the electronics industry. 5G, the Internet of Things, the Internet of Vehicles, the industrial Internet of Things (IoT), and artificial intelligence are leading the current trends and developments surrounding electronic products.

  • With the maturing demand for electronics, there was a significant decline in the sales of consumer electronics till the end of FY 2023. There has been a decreased demand for smartphones, cameras, PCs, and tablets due to inflation, low demand for consumer electronics, and macroeconomic uncertainties. The global demand for smartphones and tablets experienced flat growth in 2023, which led to a decline in the orders for PCBs. However, the demand is expected to gain traction in 2024.
  • Miniaturization of electronic components has made it possible to build small portable and handheld computer devices that can be carried anywhere. As a result, smaller and lighter devices with high processing capacities are becoming more wearable since their components can be easily embedded (for example, in clothing bags) and carried around for long periods of time.
  • The increasing demand for printed circuit boards (PCBs) can be attributed to the growing needs of various end-user industries. PCBs are critical components of modern electronic devices, including smartphones, tablets, laptops, and gaming consoles. As the demand for these devices continues to rise, the demand for high-quality PCBs is also rising in order to support their functionalities.
  • The growing concerns regarding electronic waste, like printed circuit boards (PCBs), need to be addressed immediately. PCBs contain various hazardous materials, including lead, mercury, cadmium, and brominated flame retardants. When improperly disposed of, these substances can leach into the soil and water, thereby posing a threat to human health and the environment.
  • The COVID-19 pandemic affected the global semiconductor market. The lockdowns and closures of semiconductor plants during the pandemic led to an extreme shortage of supply. Government precautions to support automotive and semiconductor sectors across the world gradually revived the industry in the post-pandemic era.

PCB Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)