Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "Automotive Printed Circuit Board (PCB) Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Automotive PCB Market?is anticipated to register a CAGR of about 6 %, during the forecast period (2020-2025).
The major factors that will drive the market growth during the forecast period such as increasing number of automobile production and sales, increased incorporation of advanced safety some of which comes as a mandate from the government bodies, demand for convenience and comfort systems and the growing demand for of hybrid electric vehicles (HEV) and battery electric vehicles (BEV).
Luxury vehicles use several PCBs as these vehicles are equipped with an advanced electronic system that provides the end-user better safety, comfort and convenience. So, it is expected that during the forecast period light luxury vehicles market segment will be capturing a significant market share in the global passenger car market.
Key Market Trends
Growing Electric Vehicles Sales Driving the Market Growth
Among the vehicle fuel types, battery electric vehicles sales are expected to grow at a higher CAGR during the forecast period. Due to the increasing concern on global emissions from vehicles as well as growing government initiatives to increase the sales of electric vehicles. For instance, the Norway government is providing benefits like no road tax, exemption from import duty and also investing heavily in infrastructure to promote sales of electric vehicles and make the region eco-drive zone by 2025.
With increasing sales of electric vehicles as well as adoption of advance driver assistance system (ADAS) technology in them are likely to drive the demand for automotive PCB market during the forecast period.
Asia Pacific Captures Major Market Share
The region accounts for almost 60% of world's population and major developing economies of the world like China and India. During the forecast period, these economies are expected to grow much faster owing to the activities in construction, transportation, industrialization etc. With these trends, the demand for automobiles increased in the Asia-Pacific and driven several governments in the region to mandate few active and passive safety features in vehicles which in turn boosted the automotive PCBs market growth in Asia-Pacific. The governments in the region are providing subsidies to the electric vehicle buyers to drive the purchase rate of EVs in the region. For instance, the government in Japan is aiming to eliminate the adoption of internal combustion engine vehicles in the country by 2050, to support this objective, the country started providing one-time subsidy for buyers when purchasing an EV. For instance, 30-kWh Nissan Leaf owners can get approximately USD 3000 grant. The maximum subsidy is capped at around USD 7700, and it is based on a driving range of a vehicle. Also, a 50% reduction of annual automobile tax for Consumers purchasing a zero-emission EVs.
The Automotive PCB market is fragmented, with several players accounting for significant shares in the market. Some of the prominent companies in the automotive PCB market include Infineon, Samsung, Amitron, CMK, and others. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies.
In February 2020, Lumax Industries extends a joint venture with Stanley Electric, Japan. The joint venture will provide a complete range of Stanley Electric products, current and future, to the Indian automotive industry. Starting with the production of Printed Circuit Board (PCB), a core component of the automotive lighting system for Lumax company. The joint venture will extend its product line to Heating Ventilation Air Conditioning panel (HVAC) in the near future. The product will be localized and manufactured at the newly set up electronic facility at Bawal, Haryana and the company is already in discussion with Japanese OEMs. The focus of the joint venture is to expand Lumax portfolio and product offerings in the vast range of advanced electronics components with Stanley Electric.
In April 2019, PCB firm, Tripod Techology, a-Taiwan based company, has signed a contract worth USD 64.8 million for the construction of additional production line at manufacturing site in Xiantao, China. The new facility will supply to the automakers in the country as well as from international markets to capture the growing demand in the production of automobiles that are expected to grow with a significant rate from post 2020.
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Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Vehicle Type
5.1.1 Passenger Car
5.1.2 Commercial Vehicle
5.2 Propulsion Type
5.2.1 IC Engine
5.3.1 North America
188.8.131.52 United States
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.3 Rest of the World
18.104.22.168 United Arab Emirates
22.214.171.124 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.2 Samsung Electro mechanics
6.2.3 CMK Corp
6.2.4 Amitron Corp
6.2.6 Deaduck Phil. Inc.
6.2.8 Chin Poon
6.2.10 Tripod Technologies
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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