Indian PCB (Printed Circuit Board) Market to Reach US$ 11.8 Billion by 2028, Stimulated by Flourishing Electronics Sector

July 28, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Indian PCB (Printed Circuit Board) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Indian PCB (Printed Circuit Board) market size reached US$ 4.5 Billion in 2022. A Printed Circuit Board (PCB) refers to an integral component in virtually all electronics, intended to use conductive paths or traces to mechanically support and link electrically different electronic components. The board, typically composed of fiberglass, copper lines, and other metallic elements, links components, including resistors, capacitors, and integrated circuits, to create a functional electronic device. Its compact and reliable design has largely replaced older circuit creation methods, like point-to-point wiring. The miniaturized technology allowed for more complex circuits to be housed in increasingly smaller devices and has also significantly improved the speed, reliability, and efficiency of electronic systems.

Indian PCB (Printed Circuit Board) Market Trends:

The Indian PCB market has witnessed substantial growth, driven by the expanding electronics industry, particularly in the manufacturing of smartphones. This can be supported by the Indian government's 'Make in India' initiative, which promotes domestic manufacturing to reduce import reliance. Along with this, the increasing implementation of the Internet of Things (IoT) is further fueling the market expansion. In addition, India's growing medical technology sector, with its escalating need for sophisticated devices, represents another major driver. Apart from this, recent trends indicate a paradigm shift towards environmentally friendly, lead-free PCBs and high-density interconnect (HDI) PCBs that provide higher circuitry density per unit area. Moreover, the support for more technologically advanced electronics is influencing the demand for flexible and rigid-flex PCBs, known for their superior performance and flexibility. Some of the other factors driving the market include rapid urbanization, continual technological advancements, and inflating disposable income levels. Looking forward, the market value is projected to reach US$ 11.8 Billion by 2028, expanding at a CAGR of 16.6% during 2023-2028.

Market Summary:

Based on the manufacturing type, the market has been segmented into bare PCBs and populated PCBs. Currently, bare PCBs dominate the market, holding the largest share.
On the basis of the application, the market has been classified into consumer electronics, communication, industrial electronics, computers, military & aerospace, automotive, medical instrumentation, and others. At present, consumer electronics holds the largest market share.
Based on the product type, the market has been segregated into rigid 1-2 sided, standard multilayer, flexible circuits, HDI/microvia/build-up, rigid flex, and others. Rigid 1-2 sided currently dominates the market, accounting for the largest share.
On the basis of the layer, the market has been divided into single-sided, double-sided, and multi-layer. Currently, single-sided dominate the market, holding the largest share.
Based on the segment, the market has been segregated into rigid PCBs and flexible PCBs. At present, rigid PCBs hold the largest market share.
Based on the laminate type, the market has been classified into FR-4, polyamide, CEM-1, paper, and others, wherein FR-4 exhibited a clear dominance in the market.
Region-wise, the market has been segmented into Maharashtra, Tamil Nadu, Karnataka, Gujarat, and other states. Amongst these, Maharashtra is the leading market, accounting for the majority of the global share.
The competitive landscape of the market has also been examined, with some of the key players being 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).

Report Scope:

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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Indian PCB (Printed Circuit Board) Market to Reach US$ 11.8 Billion by 2028, Stimulated by Flourishing Electronics Sector

Purchase options

Single User License $2299
Five User License $3399
Corporate License $4499

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.