Title: The Global PCB Market is estimated to hit $70 billion by 2024
1The Global PCB Market is estimated to hit 70
billion by 2024
2APAC is the dominating market for global PCB
market and is estimated to grow at a rate of
36.87 to reach 6.4 billion by 2024 owing to the
increasing penetration of smartphones and tablets
across the region. In Asia-Pacific, South Korea
has become an international hub for electronics
industry. The companies here are slowly
overtaking the electronics market from Japan. The
is followed by China which has served as the
greatest emerging nation for printed circuit
board manufacturing due to low waged labor and
cheap production facilities. Taiwan is known for
some of the largest PCB manufacturers across the
world which have majority market share in PCB
manufacturing.
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3Selected Analysis done in the full Report
- Standard multilayer PCB holds the largest share
and continue its dominance in the global PCB
market and projected to reach about 1.27 billion
by the end of 2024. These boards are gaining huge
demand owing to the need for smaller and lighter
boards for use in electrical devices, military
equipment, healthcare miniaturization, and other
industry verticals. - The market is all set to exhibit robust
development with a broad range of applications in
various industry verticals which include
aerospace defense, automotive, consumer
electronics, industrial electronics, and many
others. Industrial electronics is projected to
continue its dominance in the global PCB market
owing to large number of customers with an
extremely wide range of technological
requirements and projected to reach about 28.31
billion by the end of 2024, while healthcare
pharmaceutical sector is estimated to witness
significant growth rate of CAGR 3.8 during
2018-2024.
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4Excerpts on Market Growth Factors Mentioned in
the Full Report
Massive growth in electronics industry owing to
the economic liberalization, simplifying
licensing and foreign investment policies will
surely propel growth of the market. Rising
demand for advanced smart devices across various
consumer electronics coupled with growing
automation in the industries will result for the
growth of the market during the forecast period.
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5Key Players of the PCB Market
- Nippon Mektron (NOK)
- TTM Technologies
- Young Poong Corporation
- Sumitomo Electric Industries
- Samsung Electronics
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7About IndustryARC
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