PCB Manufacturing Equipment Market Size

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.