PCB Market Size (2024 - 2029)

The market size of the PCB industry is expected to grow significantly in the coming years, driven by its integral role in modern electronic devices such as smartphones, tablets, and laptops. This growth is attributed to the miniaturization of electronic components, allowing for smaller, portable devices with high processing capacities. However, the market has faced challenges such as a decrease in demand for consumer electronics and concerns over electronic waste. The COVID-19 pandemic also impacted the market, causing a shortage of supply due to lockdowns and closures of semiconductor plants. Despite these challenges, the market is expected to regain traction post-pandemic, bolstered by government support for the automotive and semiconductor sectors.

Market Size of PCB Industry

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Printed Circuit Board Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 80.33 Billion
Market Size (2029) USD 96.57 Billion
CAGR (2024 - 2029) 4.87 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Printed Circuit Board Market Major Players

*Disclaimer: Major Players sorted in no particular order


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PCB Market Analysis

The PCB Market size is estimated at USD 80.33 billion in 2024, and is expected to reach USD 96.57 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).

  • Increased production of budget smartphones means that phone PCB production is expected to increase. According to Nidec, despite the downfall, 1.3 billion smartphones are shipped annually worldwide. These trends largely represent real opportunities for the PCB, as it is a vital mobile phone component that connects and supports various electronic components such as microprocessors, memory chips, sensors, and other integrated circuits.
  • While consumer PCBs are certainly nothing new, the applications for PCBs for electronics and the materials used to make them have evolved over some time. This is inevitable, especially on account of the growing trend of miniaturization. Moreover, modern electronics and computer applications require PCBs with high thermal conductivity so that the heat generated can be dissipated. Different PCBs are needed for the many kinds of appliances in use. For example, the PCB needed to power a smartwatch is different from the PCB required for a computer.
  • PCBs are highly suitable for portable consumer electronics due to their small size and lightweight characteristics. The growth and efficiency of the PCB assembly industry can be attributed to the significant reliance of consumer electronic products on well-designed and assembled printed circuit boards. By incorporating high-performance PCBs effectively, various consumer electronic devices can be optimized to carry out everyday tasks seamlessly. The indispensability of PCBs extends to a wide range of consumer electronics, such as smartphones, televisions, laptops, and gaming consoles, owing to their compact design and capability to accommodate intricate circuitry.
  • One major trend driving the growth of the PCB market is the increasing adoption of advanced technologies such as 5G, which is significantly favored by growing investment from various government and private organizations.
  • For instance, in March 2024, Ericsson announced the establishment of a dedicated entity for delivering a new dedicated entity to deliver 5G-driven digital transformation across the federal United States Government. This announcement was made taking the rising importance of 5G communication into consideration, as it is vital for US national and economic security and a key component of US defense modernization programs.
  • The growing concerns regarding electronic waste, like printed circuit boards (PCBs), are a significant environmental issue that needs to be addressed. 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, posing a threat to human health and the environment.
  • Improper disposal of PCBs, such as landfilling or incineration, can have serious environmental consequences. When PCBs end up in landfills, hazardous materials can seep into the soil and contaminate groundwater. Incineration of PCBs can release toxic gases and particles into the air, contributing to air pollution.
  • Furthermore, factors such as the growing importance of Taiwan in the semiconductor industry and the increasing importance of diversifying semiconductor manufacturing facilities are likely to shape the supply and demand structure of PCBs in the future.

PCB Industry Segmentation

The study tracks the revenue accrued through the sales of printed circuit boards (PCBs) by various players in the global market. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which accounts for market estimations and growth rates. The study further analyzes the overall impact of COVID-19 and other macroeconomic factors on the global market. The scope of this report encompasses the sizing and forecasts for the various market segments.

The printed circuit board (PCB) market is segmented into type (standard multilayer PCBS, rigid 1-2 sided PCBS, HDI/micro-via/build-up, flexible PCB, rigid-flex PCB, and others), by end-user industry (industrial electronics, healthcare, aerospace and defense, automotive, communications, consumer electronics, and other end-user industries), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market forecasts and size in value (USD) for all the above segments.

By Product Type
Standard Multilayer PCBs
Rigid 1-2 Sided PCBs
Flexible PCBs
Rigid-flex PCBs
By End-user Industry
Industrial Electronics
Aerospace and Defense
Consumer Electronics
Other End-user Industries
By Geography***
North America
Australia and New Zealand
Latin America
Middle East and Africa

PCB Market Size Summary

The global PCB (Printed Circuit Board) market is projected to witness significant growth over the next few years. This growth can be attributed to the increasing demand for PCBs in a variety of electronic devices such as smartphones, tablets, laptops, and gaming consoles. As the demand for these devices continues to rise, the need for high-quality PCBs that can support their functionalities is also increasing. Moreover, the miniaturization of electronic components has made it possible to build small, portable, and handheld computer devices that can be carried anywhere, which is further driving the demand for PCBs. The Asia-Pacific region, in particular, is expected to experience substantial growth in the PCB market, due to the presence of leading manufacturers and players in countries such as China, Taiwan, South Korea, and Japan. The growth of the PCB market in China is primarily driven by lower overall costs and higher management efficiencies. Meanwhile, Taiwan continues to dominate the global PCB production values. The PCB market is highly fragmented, with major players adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain a competitive advantage.

Explore More

PCB Market Size - Table of Contents


    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market


    1. 2.1 By Product Type

      1. 2.1.1 Standard Multilayer PCBs

      2. 2.1.2 Rigid 1-2 Sided PCBs

      3. 2.1.3 HDI/Micro-via/Build-up

      4. 2.1.4 Flexible PCBs

      5. 2.1.5 Rigid-flex PCBs

      6. 2.1.6 Others

    2. 2.2 By End-user Industry

      1. 2.2.1 Industrial Electronics

      2. 2.2.2 Healthcare

      3. 2.2.3 Aerospace and Defense

      4. 2.2.4 Automotive

      5. 2.2.5 Consumer Electronics

      6. 2.2.6 Other End-user Industries

    3. 2.3 By Geography***

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia

      4. 2.3.4 Australia and New Zealand

      5. 2.3.5 Latin America

      6. 2.3.6 Middle East and Africa

PCB Market Size FAQs

The PCB Market size is expected to reach USD 80.33 billion in 2024 and grow at a CAGR of 4.87% to reach USD 96.57 billion by 2029.

In 2024, the PCB Market size is expected to reach USD 80.33 billion.

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