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DESCRIPTION
Printed Circuit Boards Market Global Size:
ELINT Market Research’s detailed report on the printed circuit boards market highlights the significant $64.1 billion global market size in 2022. This growth revolution occurred due to the escalating demand for electronic devices. Hence, the report predicted a growth of 4-6% CAGR and a $74.2 billion market dimension by 2025 for this sector. Also, the constant necessity of PCBs is influenced by the adoption of renewable energy sources and electric vehicles.
Market Definition:
The global printed circuit boards market procurement intelligence comprises the manufacturing and supply of PCB products that work as key components in various conventional and modern electronic devices. These boards possess essential types like single-sided, two-sided, multiplayer, etc., along with AI and IoT-based advancements, which assist diverse worldwide businesses in modern 3D and inkjet printing operations.
Printed Circuit Boards Market Drivers:
- Technology Innovation –
Constantly advancing technologies like IoT, artificial intelligence, and automobile solutions assist in intelligent PCB goods manufacturing operations, which drive printed circuit board procurement market intelligence.
- End-Use Demand –
Multiple industries utilize printed circuit boards as the main component to produce different products like telecom devices, home electronics, vehicle electronic goods, medicinal products, and high-tech machinery.
- PCB Design Developments –
Printed circuit board products’ design and layout features are continuously evolving, which gives trustworthiness and high performance to market players operating in the PCB sector.
Printed Circuit Boards Market Challenges:
- Environmental Concerns –
Increasing awareness of environmental safety caused a massive challenge for printed circuit board manufacturing firms since they need to ensure compliance with governmental regulations about reducing waste.
- Disturbance in Supply Chain –
Any kind of disruption in the PCB products supply chain like business conflicts, natural tragedies, and economic tensions poses a major challenge among industry participants.
Printed Circuit Boards Procurement Market Opportunities:
- Development in Requirement of Electronic Devices –
As demand for electronic devices is increasing in multiple worldwide sectors like aerospace, automobile, medicine, telecom, etc., the requirement for printed circuit board goods’ is also rising.
- Atmosphere-Friendly PCB Products –
PCB manufacturing companies are majorly investing in making environment-friendly printed circuit products, which is a great opportunity for them to be competitive in the industry.
Printed Circuit Boards Market Segmentation:
- Kinds of PCBs –
Some of the notable PCB product types include customized, robust, multidimensional, single-sided, and two-sided, which is a prominent segmentation aspect for the international printed circuit market.
- Distinct PCB Product Manufacturing Technology –
Another prime segmentation factor for the printed circuit board market is the distinct type of technologies used in manufacturing PCBs. In this context, conventional removal methods include engraving and drilling. Also, contemporary techniques comprise the use of 3D and inkjet printings.
Different Maturity Regions in the Printed Circuit Boards Market:
The global PCB sector exhibits diverse market maturity in different regions like Europe, South America, and Africa have medium to low maturity. It implies that these nations’ printed circuit board procurement market intelligence companies are in the developing phase and expected to achieve growth; also, they are constantly embracing various PCB manufacturing methods. Contrarily, APAC and North American regions comprise high market maturity which showcases these territories’ dominance in using intelligent PCB manufacturing and usage techniques.
End-use Applications in the Printed Circuit Boards Market:
The foremost end-use applications of printed circuit boards include businesses and computers that possess a significant 26% share of the market. It signifies that these domains contain a broad count of electronic instruments utilized in offices and commercial spaces. On the other hand, the communications and telecom areas hold a 31% stake in the overall PCB market, which means companies operating in these segments massively adopt printed board products.
Impactful Cost Components in the Printed Circuit Boards Market:
Raw materials and labor & utility expenses hold the major 20-30% and 60-70% shares respectively of the overall cost structure for the printed circuit boards market. Hence, these factors are considered as the impactful cost components by industry players and they constantly optimize and examine these aspects since any transition in their expense can hamper the whole PCB manufacturing payment layout.
Negotiation Powers in the Printed Circuit Boards Market:
The printed circuit boards procurement intelligence market research report displays diverse negotiation powers for buyers and suppliers. In this sense, buyer power in this sector is evaluated as medium to high, which implies that buyers have power over costs and can bargain favorable terms with suppliers. On the other hand, supplier power in the PCB market is considered low to medium since a vast count of distributors are competing in this domain, which automatically reduces their bargaining powers.
Supply Contract Tenure in the Printed Circuit Boards Market:
PCB product manufacturers employ two different supply contract tenures. The high-volume contract ranges for a shorter duration of 12 to 18 months and involves the production of a large count of printer board goods. Contrariwise, the low-volume agreement stays for 3 to 5 years, which ensures continued long-term technical and customization support from suppliers for buyers.
Leading Procurement Intelligence Companies in the Printed Circuit Boards Market:
Top printed circuit board companies that use cutting-edge analytics and in-depth market expertise include Nippon Mektron, Sumitomo Denko, TTM Technologies, Multek, Rush PCB, Journey Circuits Inc., Shennan Circuit, Boyunfa Circuits (BYF PCB), Atech Circuit, ZD Tech, Unimicron, Compeq, Tripod, HannStar.
