PCB Manufacturing Equipment Market - By Equipment Type, By Application, By End-Use & Forecast, 2024 - 2032

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 PCB manufacturing equipment industry is significantly influenced by advancements in electronic devices, particularly as consumer electronics evolve toward greater complexity. The proliferation of smartphones, tablets, and wearables necessitates more sophisticated printed circuit boards that can accommodate higher densities and miniaturization. This demand for innovative PCB designs leads manufacturers to seek advanced manufacturing equipment capable of producing flexible and multilayer PCBs, fostering a robust market for equipment that meets these requirements.
 

Another key driver is the rise of electric vehicles (EVs), which has transformed the automotive industry. As automakers increasingly shift towards electrification, the need for various PCBs in electric vehicles covering applications like battery management systems, power distribution, and infotainment has surged. This growing demand compels manufacturers to invest in specialized PCB manufacturing technologies that can deliver high-quality and reliable components, thereby accelerating the expansion of the market.
 

The growth of the PCB manufacturing equipment industry is being propelled by an increasing demand for high-quality products. This demand is prompting companies to expand their operations and invest in state-of-the-art technologies. For instance, in April 2024 , Calumet Electronics announced a major expansion of its PCB production capacity in Michigan, driven by investments in manufacturing equipment, workforce development, and campus growth. With cutting-edge PCB manufacturing equipment, the company is building the most advanced substrate factory in the U.S., supporting domestic production, including flex and rigid-flex boards.
 

PCB Manufacturing Equipment Market Trends

The PCB manufacturing equipment industry is witnessing significant trends reshaping the industry landscape. B2B consumers, particularly in electronics, automotive, and telecom sectors, are driving demand for advanced, miniaturized PCB solutions, which support high-performance applications. Innovations in materials, such as high-frequency laminates and lightweight substrates, are enhancing circuit efficiency and thermal management, meeting industry requirements for performance under high-speed and high-power conditions. Emerging technologies like automated optical inspection (AOI), laser drilling, and additive manufacturing streamline production, improve precision, and reduce costs. Additionally, manufacturers are focusing on sustainable practices, such as low-waste processes, recyclable materials, and energy-efficient machinery, to align with global environmental standards and reduce operational costs.
 

PCB Manufacturing Equipment Market Analysis

The PCB manufacturing equipment industry faces several restraints, notably high initial investment costs and complexities associated with rapidly evolving technologies, which can limit entry for smaller players. However, substantial opportunities arise from increasing demand in sectors like 5G, IoT, and electric vehicles, fueling the need for high-density and multi-layer PCBs. Regulatory frameworks emphasizing environmental compliance and waste reduction also shape the market, with strict standards around hazardous materials and emissions. Manufacturers responding with eco-friendly processes and materials gain a competitive edge, aligning with both regulatory requirements and growing sustainability expectations among stakeholders.
 

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 machines segment in the market is essential for creating precise holes in circuit boards, facilitating connections between layers. These machines ensure accuracy and efficiency, especially in multi-layer PCB production. Increasing demand for complex PCBs, driven by advancements in electronics, fuels the adoption of advanced drilling equipment.
 

The etching machines segment plays a critical role in removing excess copper from the PCB surface, defining circuit patterns. These machines are pivotal in the miniaturization of electronic components, driving demand as industries, particularly consumer electronics and automotive, seek more compact and efficient circuit designs.
 

Based on end-user, the PCB manufacturing equipment 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 rapid adoption of smartphones, tablets, and wearables is driving significant demand for PCB manufacturing equipment in the consumer electronics segment. As these devices trend towards miniaturization and enhanced performance, manufacturers are turning to advanced PCB equipment to support multi-layered, high-density interconnects. Additionally, the swift turnover of consumer devices underscores the need for efficient and scalable production technologies.
 

The automotive sector is witnessing a surge in demand for sophisticated PCB manufacturing equipment, spurred by the rising integration of electronic systems in electric vehicles (EVs), autonomous driving, and infotainment. There's a heightened emphasis on PCBs that can endure harsh environments and cater to high-power applications. This demand is steering manufacturers towards specialized equipment, particularly those boasting advanced thermal management and durability features. The manufacturers are collaborating and focusing on expanding PCB motor production to meet growing demand in sectors such as EVs and consumer electronics. As the PCB manufacturing equipment industry expands, companies are joining forces to boost production efficiency, sustainability, and market reach in response to rising industry needs. 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 U.S. market is characterized by robust demand from industries such as defense, aerospace, automotive, and consumer electronics, all requiring advanced, high-quality PCB solutions. Strong government support for domestic manufacturing, particularly for defense applications, and the push for technological independence drive investment in cutting-edge PCB equipment. Additionally, the rising adoption of IoT, AI, and 5G technology across sectors accelerates demand for precision-driven manufacturing solutions. However, high labor costs and strict environmental regulations pose challenges, prompting companies to adopt automation and sustainable practices to enhance efficiency and regulatory compliance.
 

India market is experiencing rapid growth driven by the increasing demand for consumer electronics and automotive components. The government's initiatives to promote "Make in India" are encouraging domestic manufacturing and attracting foreign investments. Additionally, the rise of startups in the electronics sector is fostering innovation, creating opportunities for advanced manufacturing technologies. This burgeoning landscape positions India as a significant player in the global PCB market.
 

China market remains the largest market for PCB manufacturing equipment, supported by its dominance in electronics production and export. The country's established supply chain and manufacturing ecosystem enable high-volume production at competitive costs. With ongoing advancements in technology and a focus on smart manufacturing, Chinese manufacturers are increasingly investing in state-of-the-art equipment to enhance production efficiency and quality. As the demand for high-performance electronics continues to rise, China's PCB manufacturing capabilities are expected to expand further.
 

South Korea PCB manufacturing equipment market benefits from its advanced technology landscape and strong presence in the semiconductor and display industries. Major companies are investing heavily in research and development to innovate and produce next-generation PCBs, particularly for high-tech applications such as smartphones and automotive electronics. The country's emphasis on high-quality production standards and rapid technological advancements positions South Korea as a key contributor to the global PCB market. This commitment to innovation continues to drive demand for sophisticated manufacturing equipment.
 

Japan 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

The PCB manufacturing equipment industry is highly competitive, with companies striving to gain advantage through technological innovation, product differentiation, and strategic pricing. Key players focus on delivering advanced, high-precision equipment to meet the stringent demands of industries like aerospace, telecommunications, and automotive. Product reliability and customization are critical, as clients increasingly seek solutions tailored to complex manufacturing needs. While competitive pricing remains important, companies also emphasize robust after-sales service, efficient distribution networks, and responsive customer support to enhance customer retention. Additionally, as sustainability becomes a strategic priority, firms that prioritize energy-efficient, eco-friendly equipment and processes gain a distinct competitive edge.
 

PCB Manufacturing Equipment Market Companies

Major players operating in the PCB manufacturing equipment industry are:

• ASM Pacific Technology Ltd.
• ATG Luther & Maelzer GmbH
• Cencorp Automation
• DISCO Corporation
• Electro Scientific Industries (ESI)
• Fuji Corporation
• Fujifilm Holdings Corporation
• GIGA Lane Co., Ltd.
• Han’s Laser Technology Industry Group Co., Ltd.
• Hitachi High-Tech Corporation
• JUKI Corporation
• Kingboard Holdings Limited
• LPKF Laser & Electronics AG
   

PCB Manufacturing Equipment Industry News

• In July 2024 , Ventec International Group announced its membership in the Printed Circuit Board Association of America (PCBAA) to support US PCB manufacturing. By joining, Ventec reinforces its commitment to a sustainable electronics industry. PCBAA advocates fair market conditions and domestic PCB production. Ventec’s advanced PCB manufacturing equipment ensures reliable supply chains and high-performance boards for electronic assemblies, vital for industry resilience.
   
• In June 2024 , AdvancedPCB announced its emergence as North America's second-largest PCB manufacturer, following the merger of APCT, Advanced Circuits Inc., and San Diego PCB Design. With six U.S. manufacturing sites, the company leverages cutting-edge PCB manufacturing equipment to produce customized circuit boards, ensuring high-quality, precision, and rapid production for industries such as healthcare, aerospace, and defense.
   
• In June 2024 , STARTEAM GLOBAL announced its acquisition of C.T.B Circuiti Stampati, rebranding it as Flero STARTEAM (FST). The facility will feature advanced PCB manufacturing equipment focused on prototyping, High Mix Low Volume (HMLV) production, and quick turn capabilities. FST's technology will initially produce 1–2 layer PCBs, including high-frequency PTFE materials, with plans to expand to 6-layer PCBs by early 2025, ensuring top-tier production standards.
   

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

• Drilling machines
• Etching machines
• Exposure machines
• Screen printing equipment
• Electroplating equipment
• Inspection and testing equipment
• Others

Market, By Application

• Single-sided PCBs
• Double-sided PCBs
• Multi-layer PCBs
• Rigid PCBs
• Flexible PCBs
• Others

Market, By End-Use

• Consumer electronics
• Automotive
• Healthcare
• Telecommunications
• Aerospace and defense
• Industrial electronics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia

• Latin America
  • Brazil
  • Mexico

• MEA
  • UAE
  • Saudi Arabia
  • South Africa