Printed Circuit Board (PCB) Assembly Market - By Type of PCB (Rigid PCB, Flexible PCB, Metal Core PCB), By Component (Active, Passive), By Technology, By Soldering Process, By Volume, By Assembly, By Vertical & Forecast, 2024 - 2032

Printed Circuit Board (PCB) Assembly Market - By Type of PCB (Rigid PCB, Flexible PCB, Metal Core PCB), By Component (Active, Passive), By Technology, By Soldering Process, By Volume, By Assembly, By Vertical & Forecast, 2024 - 2032

Printed Circuit Board (PCB) Assembly Market size is poised to record over 10% CAGR from 2024-2032, on account of the rapid sales of electric vehicles (EVs) worldwide. As per the International Energy Agency (IEA), the total sales of electric cars more than tripled in three years, from 4% in 2020 to 14% in 2022.

The robust growth of the EV sector is driving the demand for specialized boards in EV powertrains and battery management systems. The shifting preference for renewable energy solutions like solar and wind power is also offering multiple applications for PCBs for supporting energy generation and storage infrastructure, adding to the market growth.

The overall industry is segmented into type of PCB, component, technology, soldering process, volume, assembly, vertical, and region.

In terms of type, the market value from the flexible PCB assembly segment will witness over 12% CAGR through 2032, driven by increasing adoption in consumer electronics and wearables. The rising trend of smaller and more lightweight electronic devices is pushing the demand for flexible PCBs to offer efficient solutions for accommodating complex circuits in minimal space. Increasing application for handling high-frequency signals in fast data transmission will also boost the segment growth.

With respect to soldering process, the printed circuit board assembly industry from the wave soldering segment is expected to expand at over 13% CAGR from 2024 to 2032. The growth can be attributed to the increased demand for electronics in automotive, IoT, and consumer goods. Scaling advancements in wave soldering technology, including selective soldering and dual-waves for ensuring higher precision in intricate PCB designs will favor the segment expansion.

Regionally, the North America PCB assembly market size is expected to observe over 10% growth rate from 2024 to 2032, propelled by the strong focus on advanced manufacturing techniques. The rapid industrial growth in the region is driving the need for high-performance electronics in the automotive, aerospace, and telecommunications sectors. The higher emphasis on eco-friendly manufacturing processes, materials, and waste reduction in PCB assembly is another major factor favoring the regional industry growth.