Automotive PCB Market Trends

Growth Drivers

• Growing Demand for Autonomous Vehicles – It is estimated that autonomous vehicles will account for around 12% of car registrations worldwide by 2030.Innovation in printed circuit board (PCB) devices is responsible for advancements in driverless car sensor technologies. PCBs are highly used in autonomous vehicles as they meet hardware interface requirements, durability and reliability. Hence, the surge in demand for autonomous vehicles is expected to escalate the automotive PCB market in the forecasted period.

• Rising Demand for Advanced Driver Assistance Systems – it was found that the industry generated more than USD 25 billion globally in 2020. Also, it is projected that by 2030, electronic components in cars will make up approximately 50% of their overall cost. Moreover, there has been increasing installation of ADAS radar systems in the vehicles that provide drivers with safety alerts, and it is expected to boost the market’s growth.

• Escalation in the Number of Connected Cars – for instance, it is estimated that by 2025, the global fleet of connected cars will be more than 400 million, up from some 237 million in 2021.
• Growing Production Volume of Vehicles - for instance, the aggregate global production of vehicles in 2021 touched 80 million.
• Increasing Production of Light Vehicles – which is projected to reach around 99 million light vehicles to be produced globally by 2025.

Challenges

• Complex Designing and Manufacturing Processes - The several complexities associated with PCB design and manufacturing processes may result in numerous instances where there is a failure while running the PCB. These failures are as a result of design oversights, such as incorrect measurements or insufficient clearances, which are known to have a negative impact on the functionality of the product.
• High Cost of Customized PCBs for Different Vehicles
• Effects of Fluctuating Temperature on PCB Performance