Indian PCB (Printed Circuit Board) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Indian PCB (Printed Circuit Board) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1103
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Market Overview:

The Indian PCB (printed circuit board) market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 16.6% during 2023-2028.

Printed circuit boards (PCBs) are non-conductive, copper laminated boards that help to connect electronic and electrical components without the use of wires. These boards are composed of epoxy, fiberglass and other composite materials which reduce the complexity of the overall circuit design. PCBs are installed in various electronic products, ranging from consumer gadgets, such as PCs, tablets, smartphones and gaming consoles, to industrial and high-tech products. Over the past few years, the demand for PCBs in India has witnessed a steady rise on account of increasing investment in digitization and favorable government initiatives.




Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Indian PCB (Printed Circuit Board) Market: Drivers

  • India represents one of the largest and fastest growing consumer electronics market in the Asia Pacific region. Computers, laptops, mobile phones, etc. often use rigid PCBs in areas vital to the functionality of these devices, such as the motherboard, thereby creating a positive impact on the growth of the PCB industry.
  • PCBs find application in large number of industries which includes electronic products, automotive (dashboards, engine management system, power supplies etc.), medical (heart monitors, imaging probes, drug metering devices), defence (radar, armoured car control and security), lighting, broadcasting, Aerospace etc. It represents the foundation of a majority of electronic products and continues to evolve into new industries and applications.
  • The advancements made in the PCB functionalities and manufacturing along with the miniaturisation of semiconductor devices are expected to drive the demand for more complex PCBs with higher number of layers.
  • The Government of India is strongly encouraging the manufacturing and usage of PCBs in the country. It has launched many initiatives such as ‘Make in India’, ‘Digital India’ etc. Under these schemes, the government aims to encourage manufacturers to set up more local plants in the country by easing tax regime, reducing bureaucratic hurdles, etc. This is expected to bring in significant achievement in various end-use industries (automotive, electrical, etc.), thereby creating a positive impact on the overall PCB demand.
  • PCBs are the back bone of the electronics industry as it is deployed in almost all the electronic products from consumer gadgets to industrial high-tech products. The Indian electronic devices market has witnessed double digit growth rates driven by rising disposable incomes and increasing urbanisation levels in the country. This coupled with miniaturisation of semiconductor devices and enhanced functionality in electronic products is expected to drive the demand for more complex PCBs in the near future.
  • PCBs represent a fundamental component for the manufacturing of devices which are required for military navigation, guidance and control, electronic warfare, missiles and surveillance, and communication. India currently has the 5th largest defense budget in the world and these figures are expected to increase continuously over the next five years. Moreover, catalyzed by rising demand and increasing government initiatives, the defense equipment manufacturing industry in the country is also undergoing strong growth. This is also expected to drive the demand of PCBs in the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian PCB (printed circuit board) market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on product type, application, layer, segment, laminate type and manufacturing type.

Breakup by Product Type:

  • Rigid 1-2 Sided
  • Standard Multilayer
  • Flexible Circuits
  • HDI/ Microvia/Build-Up
  • Rigid Flex
  • Others

On the basis of product type, rigid 1-2-sided PCBs represents the most popular type. Other major product types include standard multilayer, flexible circuits, HDI/microvia/ build-up and rigid-flex PCBs.

Breakup by Application:

  • Consumer Electronics
  • Communication
  • Industrial Electronics
  • Computers
  • Military & Aerospace
  • Automotive
  • Medical Instrumentation
  • Others

Based on the application, the market has been segmented into communication, consumer electronics, industrial electronics, automotive, computers, military and aerospace, medical instrumentation, and others. Consumer electronics currently represents the largest application segment for PCBs.

Breakup by Layer:




Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Single-Sided
  • Double-Sided
  • Multi-Layer

The market has been further segmented on the basis of layers into single-sided, double-sided and multi-layer PCBs. Single-sided PCBs currently account for the majority of the market share.

Breakup by Segment:

  • Rigid PCBs
  • Flexible PCBs

Based on the segment, rigid PCBs dominate the market, holding the largest share.

Breakup by Laminate Type:

  • FR-4
  • Polyamide
  • CEM-1
  • Paper
  • Others

Based on the laminate type, the report finds that FR-4 is the leading segment, holding the largest share. Other types include polyamide, CEM1, paper and others.

Breakup by Manufacturing Type:

  • Bare PCBs
  • Populated PCBs

Based on the manufacturing type, bare PCBs dominate the market, holding the largest share.

State Insights:

  • Maharashtra
  • Tamil Nadu
  • Karnataka
  • Gujarat
  • Other States

State-wise, the PCB market has been segmented into Maharashtra, Tamil Nadu, Karnataka, Gujarat and Others.

Competitive Landscape:

The market consists of numerous small and large manufacturers. Some of the leading players operating in the market are:

  • AT&S
  • Epitome Components Ltd.
  • Shogini Technoarts
  • Cipsa Tec India Pvt Ltd
  • Nano Electrotech Pvt Ltd
  • PCB Power Ltd
  • Sulakshana Circuits Ltd
  • Vintek Circuit India Pvt Ltd
  • Hi-Q Electronics Pvt Ltd
  • Meena Circuit Pvt Ltd
  • India Circuit Ltd (Garg Electronics)

This report provides a deep insight into the Indian PCB market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian PCB industry in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product Type, Application, Layer, Segment, Laminate Type, Manufacturing Type, State
States Covered Maharashtra, Tamil Nadu, Karnataka, Gujarat, Other States
Companies Covered AT&S, Epitome Components Ltd., Shogini Technoarts, Cipsa Tec India Pvt Ltd, Nano Electrotech Pvt Ltd, PCB Power Ltd, Sulakshana Circuits Ltd, Vintek Circuit India Pvt Ltd, Hi-Q Electronics Pvt Ltd, Meena Circuit Pvt Ltd and India Circuit Ltd (Garg Electronics)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Indian PCB (Printed Circuit Board) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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