Indian PCB (Printed Circuit Board) Market Report by Manufacturing Type (Bare PCBs, Populated PCBs), Application (Consumer Electronics, Communication, Industrial Electronics, Computers, Military & Aerospace, Automotive, Medical Instrumentation, and Others)

Indian PCB (Printed Circuit Board) Market Report by Manufacturing Type (Bare PCBs, Populated PCBs), Application (Consumer Electronics, Communication, Industrial Electronics, Computers, Military & Aerospace, Automotive, Medical Instrumentation, and Others), Product Type (Rigid 1-2 Sided, Standard Multilayer, Flexible Circuits, HDI/Microvia/Build-Up, Rigid Flex, and Others), Layer (Single-Sided, Double-Sided, Multi-Layer), Segment (Rigid PCBs, Flexible PCBs), Laminate Type (FR-4, Polyamide, CEM-1, Paper, and Others), and Region 2024-2032

The Indian PCB (printed circuit board) market size reached US$ 5.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2032, exhibiting a growth rate (CAGR) of 16.4% during 2024-2032. The rising utilization in consumer electronic products, increasing application in electric vehicles (EVs), and favorable government policies represent some of the key factors driving the market.

Favorable Government Policies Augmenting Market Growth

Favorable government policies represent one of the primary drivers increasing the sales of PCBs in India. The Government of India is encouraging the manufacturing and utilization of PCBs across the country by offering various initiatives, such as Make in India and Digital India. In addition to this, it is supporting manufacturers to set up more local plants in the country by providing easy tax regime and reducing bureaucratic hurdles.

Competitive analysis such as market structure, market share by key players, 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.

What is PCB (Printed Circuit Board)?

Printed Circuit Board (PCB) refers to the non-conductive and copper laminated board that is designed to connect components without the use of wires. It is manufactured through various materials, such as epoxy and fiberglass, that reduce the complexity of the overall circuit design. It is widely available as rigid 1-2 sided, standard multilayer, flexible circuits, high-density interconnect (HDI), microvia or build-up, and rigid flex. It is flat and rigid with flexible substrates that allow boards to fit in convoluted spaces. As a result, it is employed in the automotive, electronics, medical, aerospace, and military and defense industries across India.

COVID-19 Impact:

The COVID-19 pandemic outbreak caused a severe problem for the PCB (Printed Circuit Board) industry and imposed unprecedented challenges. The implementation of social distancing and lockdown measures forced manufacturing companies to downscale the production process or temporarily pause output. In addition, the pandemic impacted the logistics and transportation sector due to cross-border restrictions. It reduced the supply of raw materials and finished PCB equipment in a short period of time. Besides this, the shortage of manpower at ports to unload ships and conduct a variety of trade processes, such as physical inspections, testing, and certification, hampered the market growth. Many players in this industry faced huge losses and various innovative plans or projects were postponed or canceled due to the widespread of the virus. However, the PCB industry players resumed their operations as the cases of coronavirus reduced, which is expected to boost the market growth.

Indian PCB (Printed Circuit Board) Market Trends:

The increasing demand for PCBs in consumer electronic products, such as computers, laptops, cameras, and mobile phones, represents one of the major factors strengthening the growth of the market in India. Besides this, the rising utilization of PCBs in the automotive industry in electric and hybrid vehicles in the country is contributing to the growth of the market. In addition, the increasing demand for high-frequency and high-speed boards among the masses is propelling the growth of the market. Apart from this, the Government of India is encouraging the adoption of PCBs by supporting manufacturers to build PCBs plants and offering an easy tax regime with reduced bureaucratic hurdles. Furthermore, the increasing popularity of miniaturization and more efficient interconnect product solutions in electronic devices is supporting the growth of the market in India.

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 2024-2032. Our report has categorized the market based on product type, application, layer, segment, laminate type and manufacturing type.

Manufacturing Type Insights:

Bare PCBs
Populated PCBs

The report has provided a detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the manufacturing type. This includes bare PCBs and populated PCBs. According to the report, bare PCBs represented the largest segment as they comprise of substrate, metal coating, conductive pathways, and patterns. In addition, the rising demand for bare PCBs in consumer electronic products, such as computers, tablets, and laptops, is contributing to the growth of the market.

Application Insights:

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

A detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the application has also been provided in the report. This includes consumer electronics, communication, industrial electronics, computers, military & aerospace, automotive, medical instrumentation, and others. According to the report, consumer electronics accounted for the largest market share due to the increasing sales of mobile phones, computers, and laptops. Moreover, the rising preference for the internet of things (IoT) and smart home devices among the masses due to the inflating income level of individuals is positively influencing the market.

Product Type Insights:

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

A detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the product type has also been provided in the report. This includes rigid 1-2 sided, standard multilayer, flexible circuits, HDI/microvia/build-up, rigid flex, and others. According to the report, rigid 1-2 sided accounted for the largest market share on account of the rising utilization in the electronic devices. In addition, the increasing demand for rigid 1-2 sided PCBs as they are cost-effective compared to flexible PCBs is propelling the growth of the market.

Layer Insights:

Single-Sided
Double-Sided
Multi-Layer

A detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the layer has also been provided in the report. This includes single-sided, double-sided, and multi-layer. According to the report, single-sided accounted for the largest market share as it is widely utilized in various electronic devices, such as printers, camera systems, calculators, and radio equipment.

Segment Insights:

Rigid PCBs
Flexible PCBs

A detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the segment has also been provided in the report. This includes rigid PCBs and flexible PCBs. According to the report, rigid PCBs accounted for the largest market share as they cannot be twisted and folded and provide rigidity and strength to the board. Moreover, there is a rise in the utilization of rigid PCBs in global positioning system (GPS) equipment, heart monitors, X-rays, temperature sensors, control towers instrumentation, computed axial tomography (CAT) scans, and magnetic resonance imaging (MRI) systems.

Laminate Type Insights:

FR-4
Polyamide
CEM-1
Paper
Others

A detailed breakup and analysis of the Indian PCB (Printed Circuit Board) market based on the laminate type has also been provided in the report. This includes FR-4, polyamide, CEM-1, paper, and others. According to the report, FR-4 accounted for the largest market share as it is utilized as an electrical insulator possessing considerable mechanical strength. In addition, it offers high mechanical value and electrical insulating qualities in both dry and humid conditions.

State Insights:

Maharashtra
Tamil Nadu
Karnataka
Gujarat
Other States

The report has also provided a comprehensive analysis of all the major regional markets, which include Maharashtra, Tamil Nadu, Karnataka, Gujarat, and other states. According to the report, Maharashtra was the largest market for Indian PCB (Printed Circuit Board). Some of the factors driving the Maharashtra PCB (Printed Circuit Board) market included the increasing demand for PCBs in the consumer electronic products, such as laptops, computers, and mobile phones. In addition, the rising adoption of PCBs in the medical industry in heart monitors, imaging probes, and drug metering devices. Moreover, governing authorities are encouraging the manufacturing of PCBs in the state and offering various initiatives, which is propelling the growth of the market.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the Indian PCB (Printed Circuit Board) market. Some of the companies covered in the report include:

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)

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report

1. What was the size of the Indian PCB (printed circuit board) market in 2023?
2. What is the expected growth rate of the Indian PCB (printed circuit board) market during 2024-2032?
3. What are the key factors driving the Indian PCB (printed circuit board) market?
4. What has been the impact of COVID-19 on the Indian PCB (printed circuit board) market?
5. What is the breakup of the Indian PCB (printed circuit board) market based on the product type?
6. What is the breakup of the Indian PCB (printed circuit board) market based on the application?
7. What is the breakup of the Indian PCB (printed circuit board) market based on the layer?
8. What is the breakup of the Indian PCB (printed circuit board) market based on the segment?
9. What is the breakup of the Indian PCB (printed circuit board) market based on the laminate type?
10. What is the breakup of the Indian PCB (printed circuit board) market based on the manufacturing type?
11. What are the key regions in the Indian PCB (printed circuit board) market?
12. Who are the key companies/players in the Indian PCB (printed circuit board) market?