Global PCB Market Set to Hit $161.6 Billion by 2035

The global PCB assembly market is witnessing unprecedented growth, with forecasts estimating a leap from $99.2 billion in 2025 to a staggering $161.6 billion by 2035, driven by rapid advancement across automotive electronics, electric vehicles, factory automation, and multilayer board technologies.

Key Growth Drivers

• Automotive Electronics: As vehicles become smarter and safer, demand for multi-layer, high-reliability PCBs is surging. Electric vehicles (EVs) and advanced driver-assistance systems (ADAS) require precision assemblies with robust thermal and vibration tolerance.
• Industrial Automation: Factory robotics, IoT-enabled sensors, and smart controllers are boosting requirements for compact, durable PCBs specially designed for high-speed, repetitive manufacturing environments.
• Consumer Electronics: Smartphones, wearables, and smart appliances drive the need for high-density, miniaturized PCB assemblies suitable for advanced features, connectivity, and energy efficiency.

Industry Trends & Technologies

The market’s compound annual growth rate (CAGR) stands at 5.0%, with Asia-Pacific, Germany, India, China, and the US leading regional expansion. Notable trends include:

• Adoption of advanced SMT (Surface Mount Technology) and AI-driven inspection for defect reduction and operational efficiency.
• Increased investment in automation, modular assembly, and digital twins for process optimization and supply chain management.
• Environmental initiatives: Lead-free soldering, eco-compliant materials, and recycling strategies respond to regulatory and consumer demands.

Market Segmentation

• By PCB Type: Rigid PCBs dominate, accounting for 47.6% of revenue, with flexible and metal core boards finding growing adoption in wearables, IoT, and automotive applications.
• By Component: Active components such as chips and semiconductors represent over half of market value, crucial for processing, data management, and device functionality.
• By Vertical: Automotive, consumer electronics, healthcare tech, industrial, and IT/telecom sectors each contribute to sustained PCB demand and innovation.

Regional Highlights

• China (6.8% CAGR) and India (6.3% CAGR) lead global growth owing to scaled-up manufacturing, automation, and government incentives for electronics production.
• Germany (5.8% CAGR) and the US (4.3% CAGR) maintain strong presence with advanced manufacturing, research, and quality standards.

Challenges & Opportunities

Despite immense growth, challenges around raw material supply, price volatility, labor shortages, and compliance requirements remain. Companies are responding with vertical integration, multi-sourcing strategies, and heavy R&D investment in automation and process control.

The Future Outlook

With electrification, connectivity, and digital transformation accelerating across industries, the PCB assembly sector will remain central to global electronics innovation, manufacturing scale, and supply chain resilience into the next decade.

Source: Future Market Insights, September 2025