The Mexico PCB components market size reached USD 420.96 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,097.95 Million by 2033, exhibiting a growth rate (CAGR) of 11.24% during 2025-2033. The market is driven by Mexico’s emergence as a regional electronics manufacturing hub due to nearshoring and strong export logistics. Expansion in automotive production, especially electric vehicles, is creating sustained demand for complex circuit components. Simultaneously, the rise of smart factories and renewable energy installations is reinforcing PCB integration into industrial and power systems, further augmenting the Mexico PCB components market share.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 420.96 Million |
Market Forecast in 2033 | USD 1,097.95 Million |
Market Growth Rate 2025-2033 | 11.24% |
Expansion of Electronics Manufacturing and Nearshoring Dynamics
Mexico has become a strategic electronics manufacturing hub due to its proximity to the United States and increasing nearshoring activity from global OEMs. The rise in contract manufacturing of televisions, communication devices, automotive electronics, and industrial systems has led to a sharp increase in PCB component demand. Local EMS providers in states like Jalisco, Baja California, and Chihuahua are integrating multilayer PCBs, SMDs (surface-mount devices), connectors, and microcontrollers into high-volume production lines. The USMCA trade agreement and streamlined cross-border logistics are encouraging more U.S.-based companies to relocate electronics assembly operations to Mexico. Backed by policies such as the U.S. CHIPS Act (USD 53 Billion) and the Americas Act, Mexico is positioning itself as a vital node in the North American semiconductor and PCB supply chain, targeting multi-sector investment through innovative financing and public-private partnerships. This shift supports a more robust and resilient North American supply chain, reducing reliance on Asia, as Taiwan currently controls more than 90% of the market in the production of advanced semiconductors. Additionally, local government support for tech parks and vocational training in electronics assembly is strengthening the domestic ecosystem. As firms aim to reduce lead times and meet quality standards for export, investments in PCB design software, SMT equipment, and component sourcing are accelerating. Enhanced cooperation between local assemblers and international component vendors continues to increase the complexity and volume of board-level integrations, which plays a defining role in Mexico PCB components market growth.
Growth of the Automotive and Electric Vehicle Segment
Mexico is one of the largest automotive manufacturing economies in the Americas, and its increasing transition to electric mobility is significantly raising the demand for advanced PCB components. As per recent industry reports, significant growth has been observed in Mexico’s electronics manufacturing sector, with over 730 plants producing audio, video, telecom, computer equipment, and PCB-related components, making Mexico the second-largest supplier of electronics to the U.S. Modern vehicles integrate a wide range of electronics for infotainment, lighting, ADAS, safety systems, and battery management, all of which rely on precision PCBs and related components. With global automakers investing heavily in EV production lines within Mexico, such as in Puebla and Guanajuato, demand for high-voltage PCBs, thermal management components, and ruggedized connectors is expanding. Companies involved in the production of charging stations and inverters are also sourcing more PCB assemblies to meet performance and reliability requirements. Additionally, local Tier 1 and Tier 2 suppliers are expanding their testing and quality assurance facilities to align with international automotive standards. These developments are supported by training programs and technical partnerships that improve electronics competencies. As vehicle architectures become more electrified and connected, the complexity and value of PCBs per vehicle is increasing, reinforcing Mexico’s role as a critical node in automotive PCB component manufacturing. Local firms are increasingly involved in prototyping for industrial and energy applications, indicating diversification, thereby playing a pivotal role in shaping procurement patterns, product development, and long-term competitiveness across Mexico’s PCB component landscape. Under Mexico’s 2023 nearshoring initiative, companies manufacturing electronic components like PCBs and semiconductors can receive fiscal incentives up to 76% for qualifying machinery and equipment.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on component type, PCB type, and end use industry.
Component Type Insights:
The report has provided a detailed breakup and analysis of the market based on the component type. This includes resistors, capacitors, diodes, transistors, integrated circuits (ICs), connectors, and others.
PCB Type Insights:
The report has provided a detailed breakup and analysis of the market based on the PCB type. This includes rigid PCBs, flexible PCBs, and rigid-flex PCBs.
End Use Industry Insights:
The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes consumer electronics, automotive, industrial electronics, healthcare, telecommunications, aerospace and defense, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all major regional markets. This includes Northern Mexico, Central Mexico, Southern Mexico, and others.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Component Types Covered | Resistors, Capacitors, Diodes, Transistors, Integrated Circuits (ICs), Connectors, Others |
PCB Types Covered | Rigid PCBs, Flexible PCBs, Rigid-Flex PCBs |
End Use Industries Covered | Consumer Electronics, Automotive, Industrial Electronics, Healthcare, Telecommunications, Aerospace and Defense, Others |
Regions Covered | Northern Mexico, Central Mexico, Southern Mexico, Others |
Customization Scope | 10% Free Customization |
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) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: