Mexico PCB Components Market

Mexico PCB Components Market Overview:

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.

Mexico PCB Components Market Trends:

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.

Mexico PCB Components Market Segmentation:

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:

• Resistors
• Capacitors
• Diodes
• Transistors
• Integrated Circuits (ICs)
• Connectors
• Others

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:

• Rigid PCBs
• Flexible PCBs
• Rigid-Flex PCBs

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:

• Consumer Electronics
• Automotive
• Industrial Electronics
• Healthcare
• Telecommunications
• Aerospace and Defense
• Others

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:

• Northern Mexico
• Central Mexico
• Southern Mexico
• Others

The report has also provided a comprehensive analysis of all major regional markets. This includes Northern Mexico, Central Mexico, Southern Mexico, and others.

Competitive Landscape:

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.

Mexico PCB Components Market News:

• On April 4, 2024, ZF officially inaugurated a USD 200 million automotive technology campus in Monterrey, Mexico, featuring a manufacturing plant, a corporate services hub, and the company’s first R&D center in the country. Spanning 43,294 square meters, the site includes 16 state-of-the-art laboratories focused on electronic systems, such as ADAS smart cameras, integrated brake control units, and other PCB-based technologies for automated driving applications.
• On February 19, 2024, TT Electronics inaugurated a new 75,000 square foot manufacturing facility in Mexicali, Mexico, enhancing its electronics and PCB assembly capabilities in North America. The multi-million-pound investment includes capacity for up to six high-speed SMT lines and expands the company’s regional footprint alongside its existing sensor technology plant. With over 1,200 employees already in Mexicali and Juarez, this move strengthens Mexico’s growing role in global PCB production and electronics manufacturing solutions.

Mexico PCB Components Market Report Coverage:

Key Questions Answered in This Report:

• How has the Mexico PCB components market performed so far and how will it perform in the coming years?
• What is the breakup of the Mexico PCB components market on the basis of component type?
• What is the breakup of the Mexico PCB components market on the basis of PCB type?
• What is the breakup of the Mexico PCB components market on the basis of end use industry?
• What is the breakup of the Mexico PCB components market on the basis of region?
• What are the various stages in the value chain of the Mexico PCB components market? 
• What are the key driving factors and challenges in the Mexico PCB components market?
• What is the structure of the Mexico PCB components market and who are the key players?
• What is the degree of competition in the Mexico PCB components market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Mexico PCB components market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Mexico PCB components market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Mexico PCB components industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.