TrendForce:14% rise in the automotive PCB market to reach US$10.5B in 2023

Automotive electronics is growing while many other big electronics markets are not growing. Automotive PCBs are bucking the trend with a Forecast of 12% CAGR from 2022 to 2026, Says TrendForce. Other findings by TrendForce listed below. TrendForce’s global automotive PCB market outlook report indicates that as over half of the PCB industry's end-use applications are in consumer electronics, the economic downturn has had a more pronounced impact on the PCB industry compared to other components, especially when end-market demand has yet to show a significant recovery. The report further predicts a 5.2% contraction in the global PCB market for 2023, estimating a value of US$79 billion. Despite this downturn, the automotive PCB market presents a countervailing growth trajectory, primarily driven by the continuous rise in global EV penetration and the increasing electrification of vehicles. TrendForce predicts a 14% annual increase in the automotive PCB market, reaching a value of US$10.5 billion in 2023 and accounting for 13% of the total PCB market—up from 11% last year. By 2026, this figure is expected to grow to US$14.5 billion, increasing its share of the total PCB market to 15%. This growth indicates a projected CAGR of 12% from 2022 to 2026. EV adoption is a significant growth driver for the automotive PCB market, given average PCB values for a BEV are around 5 to 6...