Indian Printed Circuit Board (PCB) Market: Size, Trends 2024-2032
Printed circuit boards (PCBs) are crucial components in electronic devices, providing the mechanical foundation and electrical connections for electronic circuits.
The Indian printed circuit board (PCB) market reached a size of USD 4.53 billion in 2023 and is poised for remarkable growth. The market is expected to expand at a compound annual growth rate (CAGR) of 18.1% from 2024 to 2032, reaching almost USD 20.17 billion by 2032. This blog provides a comprehensive overview of the Indian PCB market, including its size, trends, segmentation, market share, growth factors, analysis, forecast, and competitive landscape.
India Printed Circuit Board (PCB) Market Overview
Printed circuit boards (PCBs) are crucial components in electronic devices, providing the mechanical foundation and electrical connections for electronic circuits. The Indian PCB market is growing rapidly due to the increasing demand for consumer electronics, automotive electronics, and industrial automation. Factors such as the rising adoption of smart devices, advancements in technology, and supportive government policies are driving this growth.
The Make in India initiative and the push for self-reliance in electronics manufacturing are also significant contributors to the market’s expansion. Indian PCB manufacturers are investing in advanced technologies and expanding their production capacities to meet the growing demand both domestically and internationally.
India Printed Circuit Board (PCB) Market Size
In 2023, the Indian PCB market was valued at USD 4.53 billion. With a projected CAGR of 18.1% from 2024 to 2032, the market is expected to reach nearly USD 20.17 billion by 2032. This substantial growth is driven by increasing demand across various sectors, technological advancements, and government initiatives to boost domestic manufacturing.
India Printed Circuit Board (PCB) Market Trends
Rising Demand for Consumer Electronics: Increasing use of smartphones, tablets, and other smart devices is driving the demand for PCBs.
Advancements in Automotive Electronics: Growing adoption of electric vehicles (EVs) and advanced driver-assistance systems (ADAS) is boosting PCB demand in the automotive sector.
Industrial Automation: The rise of Industry 4.0 and smart manufacturing technologies is increasing the need for sophisticated PCBs.
Government Initiatives: Supportive policies such as the Make in India initiative are encouraging domestic PCB production and reducing dependency on imports.
Technological Innovations: Advancements in PCB design and manufacturing processes are enhancing the performance and efficiency of electronic devices.
India Printed Circuit Board (PCB) Market Segmentation
Manufacturing Type
Bare PCBs
Populated PCBs
Product Type
Rigid 1-2 Sided
Standard Multilayer
Flexible Circuits
HDI/Microvia/Build-Up
Rigid Flex
Others
Number of Layers
Single-Sided
Double-Sided
Multi-Layer
Type
Rigid PCBs
Flexible PCBs
Laminate Type
FR-4
Polyamide
CEM-1
Paper
Others
Application
Consumer Electronics
Communication
Industrial Electronics
Computers
Military and Aerospace
Automotive
Medical Instrumentation
Region
Maharashtra
Tamil Nadu
Karnataka
Gujarat
Others
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India Printed Circuit Board (PCB) Market Growth
Increasing Consumer Electronics Demand: Rising disposable income and technological advancements are boosting the demand for consumer electronics, driving PCB growth.
Automotive Sector Expansion: The growth of electric vehicles and advanced automotive electronics is increasing the demand for PCBs.
Industrial Automation: The adoption of Industry 4.0 technologies is driving the need for advanced PCBs in industrial applications.
Government Support: Policies promoting domestic manufacturing and reducing import dependency are supporting market growth.
Technological Innovations: Continuous advancements in PCB design and manufacturing are enhancing the capabilities and applications of PCBs.
India Printed Circuit Board (PCB) Market Forecast
The Indian PCB market is projected to witness robust growth over the forecast period. With a CAGR of 18.1%, the market is expected to reach nearly USD 20.17 billion by 2032. The increasing demand for high-performance electronics, coupled with technological advancements and government support, will drive market expansion. Key regions such as North India, South India, and West India will play a crucial role in the market’s growth trajectory.
Competitor Analysis
Epitome Components Ltd.: Offers a wide range of PCB solutions, focusing on quality and innovation to serve various industrial needs.
Shogini Technoarts Pvt. Ltd.: Specializes in the production of multi-layer and high-precision PCBs for diverse applications.
India Circuit Ltd.: Known for its comprehensive PCB manufacturing capabilities and catering to both domestic and international markets.
Hi-Q Electronics Pvt. Ltd.: Provides high-quality PCB products with an emphasis on advanced technology and customer satisfaction.
Fine-Line Circuits Limited: Focuses on producing fine-line PCBs with precise specifications for critical applications.
S.B Electronics: Renowned for manufacturing reliable and efficient PCBs, serving various sectors including automotive and consumer electronics.
Others: Includes various regional and global companies contributing to the growth and innovation in the Indian PCB market.
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Frequently Asked Questions (FAQ)
Q. What is a printed circuit board (PCB)?
A. A printed circuit board (PCB) is a flat board used to mechanically support and electrically connect electronic components using conductive pathways, tracks, or signal traces etched from copper sheets laminated onto a non-conductive substrate.
Q. What are the main applications of PCBs?
A. The main applications of PCBs include consumer electronics, automotive, industrial electronics, healthcare, telecommunications, and specialized applications in aerospace and defense.
Q. What factors are driving the growth of the Indian PCB market?
A. Factors driving market growth include increasing demand for consumer electronics, advancements in automotive electronics, industrial automation, supportive government initiatives, and technological innovations.
Q. Which regions are expected to witness significant growth in the Indian PCB market?
A. North India, South India, and West India are expected to witness significant growth due to high industrial activities, manufacturing hubs, and increasing investments in infrastructure.
Q. Who are the key players in the Indian PCB market?
A. Key players include AT&S India Pvt. Ltd., Shogini Technoarts Pvt. Ltd., Epitome Components Ltd., Ascent Circuits Pvt. Ltd., Cipla Technologies Ltd., Anand Electronics Pvt. Ltd., and Meena Circuits Pvt. Ltd.
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