The automotive PCB market is anticipated to achieve a valuation of $25.6 billion by 2031
28 October 2023
Views: 376
In 2022, the global automotive PCB market was valued at US$ 13.2 billion, and it is projected to reach US$ 25.6 billion by 2031. Between 2023 and 2031, the market is expected to grow at a CAGR of 7.7%. The expansion can be attributed to increasing demand for next-generation vehicles and the rising adoption of Mobility 4.0.
Printed circuit boards (PCBs) play a vital role in connecting electrical systems in vehicles, offering a compact, cost-effective, and reliable solution. The growth of CASE automotive technology is predicted to drive the market further. Automotive PCB manufacturers are anticipated to benefit from the emergence of semi-autonomous and fully autonomous vehicles. Investment in R&D for new materials and technologies by leading manufacturers aims to enhance the performance and reliability of automotive PCBs.
PCBs are widely used in the automotive industry for various functions, such as managing gearboxes, infotainment, lighting systems, and other electrical components. They provide a compact, affordable, and dependable connection for automotive electronics. Automotive circuit boards need to withstand extreme temperatures and vibrations, thus necessitating unique design considerations and high-quality components.
Share This Story, Choose Your Platform!
