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Printed Circuit Board (PCB) Assembly Market Size

Report ID: GMI7637
Published Date: Apr 2024
Report Format: PDF

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Printed Circuit Board Assembly Market Size

Printed Circuit Board Assembly Market was valued at over USD 90 billion in 2023 and is anticipated to grow at a CAGR of around 5% between 2023 and 2032.

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Printed circuit board (PCB) assembly is the process of populating a bare board with electronic components to create a functional circuit. It involves soldering components including resistors, capacitors, and Integrated Circuits (ICs) on the board following a layout design. This assembly process typically employs automated machinery for precise placement and soldering, ensuring proper connections for electronic devices and systems. The increased demand for electronic devices, such as smartphones, wearables, and IoT gadgets, directly fuels the growth of the printed circuit board assembly market.

As consumer preferences shift toward advanced electronics, there is a corresponding need for smaller, more efficient, and technologically superior PCBs. This surge in demand encourages manufacturers to innovate and produce high-density & high-performance PCBs, supporting the evolving landscape of electronic devices. For instance, in January 2022, Panasonic developed a MEGTRON 8 multi-layer circuit board material featuring low transmission loss for high-speed communication networking equipment.

Printed Circuit Board Assembly Market Report Attributes
Report Attribute	Details
Base Year:	2023
Printed Circuit Board Assembly Market Size in 2023:	USD 90 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5%
2032 Value Projection:	USD 145 Billion
Historical Data for:	2018 - 2023
No. of Pages:	200
Tables, Charts & Figures:	582
Segments covered:	Type of PCB, Component, Technology, Soldering process, Volume, Assembly, Vertical
Growth Drivers:	Increased demand for electronic devices Rise of the Internet of Things (IoT) Increasing use of PCBs in vehicle electronics for safety, connectivity, and automation Rising demand for smartphones, tablets, wearables, and smart home devices Expansion of the aerospace & defense industry
Pitfalls & Challenges:	Increasing complexity of PCBs Quality control and testing

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The increasing complexity of PCBs poses challenges in assembly due to denser component integration and intricate designs. Miniaturization demands precise handling of tiny components and intricate routing, making assembly more intricate. This complexity elevates manufacturing costs, challenges quality control, and necessitates specialized machinery & skilled labor. Managing thermal considerations and ensuring signal integrity amidst tighter layouts further complicate PCB assembly processes.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for printed circuit board assembly was valued at over USD 90 billion in 2023 and is anticipated observe around 5% CAGR between 2024 and 2032 owing to the increased demand for electronic devices, such as smartphones, wearables, and IoT gadgets.

The rigid PCB segment is anticipated to register over 11% CAGR from 2024 to 2032 owing to the demand for more sophisticated & compact electronic devices across various industries such as consumer electronics, automotive, aerospace, and healthcare.

The Asia Pacific Printed Circuit Board (PCB) assembly market held a revenue share of over 25% in 2023 and is expected to grow at a lucrative pace through 2032 attributed to the rising consumer electronics demand, rapid industrialization, and the region's role as a manufacturing hub for a variety of industries.

Benchmark Electronics, Inc., Eurocircuits, PCBWay, Seeed Technology Co., Ltd., Tempo, Vexos, and WellPCB Technology Co., Ltd.