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Premium Report Details
Base Year: 2023
Companies covered: 24
Tables & Figures: 550
Countries covered: 17
Pages: 210
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PCB Manufacturing Equipment Market
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PCB Manufacturing Equipment Market Size
The global PCB manufacturing equipment market was valued at USD 4.2 billion in 2023 and is estimated to grow at a CAGR of 6.2% from 2024 to 2032. The growth of the market for PCB manufacturing is driven by the development of the electronics sector, especially for the complexity of consumer electronic gadgets.
The proliferation of smartphones, tablets, and other portable devices has created a need for more sophisticated printed circuit boards that can accommodate increased density and miniaturization. Such high-tech PCB designs generate a demand for more sophisticated flexible multilayer PCB fabricating technologies that in turn positively stimulate the market for these technologies. The growth of electric vehicles (EVs) is another crucial factor.
The growth rate in the use of EVs has changed the automotive industry. Automotive manufacturers around the world are adapting to electrical developments, leading to a growing demand for various PCBs such as battery management systems, power distribution systems and information consoles for electric vehicles. This change has exerted pressure on manufacturers to develop specific technologies for PCB manufacturing that can produce high-quality and reliable components. This change will accelerate the growth of the market. As the demand for quality products increases, the market for PCB manufacturing equipment is growing significantly. Global companies are now focusing on high-level investments and effective expansion of their activities.
PCB Manufacturing Equipment Market Trends
The PCB manufacturing equipment industry is undergoing important changes. Business customers (B2B) are mainly interested in electronic, automotive and telecommunications industries that want to spend money on PCBs with improved operational features, compact size, and supportive structures. Cutting-edge materials, such as ultra-thin FR4 laminates and lightweight class 1-3 plastic polymer substrates, improve circuit performance and thermal management to meet the requirements of the industry in terms of power versus speed. New technologies such as automated optical inspection, laser drilling and additive manufacturing increase production, increase accuracy and reduce costs. In addition, equipment suppliers are using low-waste, recyclable or energy-saving equipment to meet international environmental standards and reduce operational costs.
PCB Manufacturing Equipment Market Analysis
The market is still facing various restrictions, such as large initial capital expenditures and the complexity of the development of technologies, which may restrict small players from entering. However, the growing demand for 5G, IoT and electric vehicle industries is giving rise to great opportunities, as demand for high-density PWB and multilayer PCB increases. These strict regulations on dangerous substances and emissions that market players can produce have driven process and materials innovation, as manufacturers that enhance processes will stand out as they will meet the minimal requirements of the regulations and the increasing demands of stakeholders for responsible actions.
Based on equipment type, the market is divided into drilling machines, etching machines, exposure machines, screen printing equipment, electroplating equipment, inspection and testing equipment, and others. The drilling machines segment is expected to reach a value of USD 2.4 billion by 2032.
The drilling machine segment in the PCB manufacturing equipment market is necessary to make the circuit board accurately hole and assist in layering. They are particularly reliable and reliable for multilayer PCBs. The increasing complexity of PCBs promoted by the improvement of electronic devices increases the use of sophisticated drilling equipment.
The industry's welding machine segment is essential for removing extra PCB copper surfaces after defining circuit patterns. These machines are used to shrink more and more electronic components and increase demand for smaller and more powerful circuits in industries such as consumer electronics and automobiles.
Based on end-user, the market is divided into consumer electronics, automotive, healthcare, telecommunications, aerospace and defense, industrial electronics, and others. The automotive segment is the fastest growing segment with a CAGR of 7.8% between 2024 and 2032.
The growing adoption of smartphones, tablets and other consumer electronics prompted demand for PCB manufacturing equipment. As these devices become smaller and more powerful, manufacturers have adopted new types of PCB devices to support multi-layer, high-density interconnections. The need for efficient and scalable production systems is also further justified by the rapid replacement of consumer devices. In the automotive industry, due to the integration of electronic systems such as electric vehicles (EVs), autonomous vehicles and information systems, demand for sophisticated PCB manufacturing technology continues to increase.
The focus is increasingly on self-sufficient PCBs that can withstand extreme conditions and high-performance applications. Such developments have led to sophisticated thermal management and reliable multi-functionalization within the specialized equipment utilized by manufacturers. Manufacturers have increased the capacity of production of the PCB motors to satisfy the supply for the EV and consumer electronics markets due to the increased supply from these manufacturers. As the demand for PCB manufacturing equipment grows, companies are collaborating to increase productivity, ensure environmental responsibility, and grow within the industry.
For instance, in June 2024, ECM PCB Stator Tech and East West Manufacturing partnered to advance PCB Stator motor production, leveraging ECM’s PrintStator Motor CAD platform and East West’s global manufacturing capabilities. This collaboration enhances ECM’s reach in PCB-based electric motor solutions, supporting sectors such as consumer electronics and HVAC, while optimizing energy efficiency and reducing material use through advanced PCB manufacturing equipment.
U.S. dominated the North America PCB manufacturing equipment market in 2023, accounting for a share of 71.4%. The US PCB manufacturing market is driven by the interests of industries such as defense, aerospace, automobile and electronics, all of which require high-quality advanced technologies and PCB products. Government investment in local production especially defence has been considerable, and efforts to self-sufficient in technology have led to expenditure on sophisticated PCB equipment. In addition, the increasing deployment of IoT, AI and 5G technologies in the industry increases the need for precise manufacturing technologies. However, expensive labor laws and severe environmental laws impede business transition to more automation-oriented and environmentally friendly strategies to improve efficiency and compliance.
India PCB manufacturing industry is growing rapidly due to the growing demand for consumer electronics products and automotive components. The Make in India campaign helps Indian companies expand manufacturing activities and attract foreign investment. The evolution of the electronics entrepreneurial ecosystem also contributes to innovation to support high-tech manufacturing. This development trend has made India one of the most important countries in the PCB industry.
China PCB manufacturing equipment market is the largest market for because of its vertical supply of electric component manufacturing and sells worldwide. Competitive prices in the country are facilitated by their supply chains and manufacturing ecosystems, allowing the large-scale production of goods. One of the reasons major Chinese manufacturers invest money in top-level manufacturing tools is the development of technology and the shift to a smart, efficient manufacturing like the current Chinese focus. As electronics need more complex components, China's PCB manufacturing capacity is likely to grow.
South Korea market is growing due to high-tech landscapes and strong aspects of the semi-transistors and display industries. Existing and emerging companies are investing money on R&D to develop next-generation PCBs for highly specialized devices such as smart phones and automotive electronics. As a result of the demand for high-quality production standards and rapid technological progress. The growing sophistication of new equipment means that these powerful countries have to adapt quickly to cope with demand.
Japan PCB manufacturing equipment market is characterized by a strong focus on precision and quality, reflecting the country's reputation for high-tech industries. The growing demand for electric vehicles and IoT devices is driving investments in advanced PCB technologies. Japanese manufacturers are also increasingly adopting automation and smart manufacturing practices to enhance efficiency and reduce production costs. With a commitment to research and development, Japan remains a vital player in the evolving PCB landscape, positioning itself for sustained growth in the sector.
PCB Manufacturing Equipment Market Share
PCB equipment and tool manufacturers operate in an extremely competitive environment, focusing on technological advances, product uniqueness and market-oriented pricing policies. Leading companies are focused on high-precision and sophisticated machinery to meet the rigid requirements of aerospace, communications, and automotive industry. Enhancing product reliability and integration poses a challenge because customers require more advanced solutions for complex manufacturing processes. In addition to competition in prices, companies recognize the need for high-quality after-sale services, distribution, customer support and care, which leads to customer loyalty. Furthermore, the manufacture and design of energy-efficient and environmental-friendly equipment and processes provides clear competitive advantages because sustainability becomes the main concern.
PCB Manufacturing Equipment Market Companies
Major players operating in the PCB manufacturing equipment industry are:
PCB Manufacturing Equipment Industry News
This PCB manufacturing equipment market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) & volume (Units) from 2021 to 2032, for the following segments:
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Market, By Equipment Type
Market, By Application
Market, By End Use
The above information is provided for the following regions and countries: