Smart Mobility Drives PCB Innovation in Electric Cars
The global printed circuit board (PCB) market for electric vehicles (EVs) was valued at approximately US$ 1.7 billion in 2024. With the rapid growth of the EV industry, this market is poised for significant expansion, projected to reach US$ 4.4 billion by 2035, growing at a robust compound annual growth rate (CAGR) of 8.5% from 2025 to 2035. This growth is driven by increased investments, technological advancements, and the rising integration of autonomous and connected vehicle features.
Printed circuit boards are the electronic backbone of
electric vehicles, facilitating seamless communication and power transfer among
various vehicle systems. In EVs, PCBs support critical components like battery
management systems (BMS), motor control units, advanced driver assistance
systems (ADAS), and infotainment modules. They must combine high performance
with thermal stability and durability to withstand the demanding operational
environments of EVs.
The PCB market for EVs encompasses several advanced
technologies, including multilayer, flexible, and high-density interconnect
(HDI) PCBs, all contributing to improved vehicle efficiency, safety, and
connectivity.
Market Drivers & Trends
Growing Investments and Strategic Partnerships:
The global push toward electrification has led to significant investments and
collaborations within the EV supply chain. Automakers and tech companies are
enhancing vehicle efficiency and connectivity, driving the demand for
sophisticated PCBs. For instance, U.S. EV sales surged by 60% in 2023, prompting
greater PCB manufacturing capacity expansion. The European Union's investment
exceeding US$ 6 billion in EV infrastructure further supports PCB demand.
Integration of Autonomous and Connected Vehicle Features:
Advancements from Level 3 to Level 4 autonomous driving systems have increased
electronic content per vehicle. This shift necessitates high-speed, multi-layer
PCBs capable of handling vast data from sensors and onboard processors.
Autonomous vehicles require PCBs that maintain signal integrity at data
transfer rates up to 50 Gbps to support real-time decision-making and
connectivity features like Vehicle-to-Everything (V2X).
Regulatory Pressures:
Government mandates worldwide are enforcing stringent safety and emissions
standards, pushing manufacturers to adopt advanced electronic systems embedded
on quality PCBs to comply with regulations and enhance vehicle safety and
efficiency.
Latest Market Trends
- Flexible
PCBs: Due to their ability to conform to various shapes and offer
space-efficient designs, flexible PCBs are increasingly preferred for
battery management and sensor applications.
- High-Density
Interconnect (HDI) PCBs: These support higher data rates and compact
layouts essential for ADAS and autonomous driving systems.
- Thermal
Management Innovations: Advanced materials improving heat resistance
and durability are being incorporated to handle the high power and thermal
stresses in EV components.
- Shift
to Multilayer PCBs: Multilayer PCBs dominate the market with nearly
74% share, driven by their ability to support complex electronic systems
while minimizing footprint and weight.
Key Players and Industry Leaders
Prominent manufacturers in the printed circuit board market
for electric vehicles include:
- ABL
CIRCUITS
- AT&S
Austria Technologie & Systemtechnik Aktiengesellschaft I
- Chin
Poon Industrial Co., Ltd.
- Compeq
Manufacturing Co., Ltd.
- HannStar
Board Corporation
- Kinwong
Electronic Co. Ltd
- LG
Innotek
- MEIKO
ELECTRONICS Co., Ltd.
- Nan
Ya Printed Circuit Board Corporation
- RayMing
PCB
- Rush
PCB Ltd.
- SCHWEIZER
ELECTRONIC AG
- Shenzhen
Capel Technology Co., Ltd.
- Shenzhen
Fastprint Circuit Tech Co., Ltd.
- TTM
Technologies
- Unimicron
Technology Corporation
- Victory
Giant Technology Co., Ltd.
- WUS
Printed Circuit Co., Ltd.
- Young
Poong Group
- Zhen
Ding Tech. Group
- Among
Others
These companies are heavily investing in R&D, expanding
production capacities, and forming strategic alliances to meet the burgeoning
PCB demand for EVs.
Recent Developments
- Mektech
Manufacturing’s Expansion: In October 2024, Mektech Manufacturing
announced a 920 million baht investment in Thailand to boost FPCB and
FPCBA production, supporting increasing EV orders.
- Omron’s
High-Power PCB Relay Launch: In July 2024, Omron introduced the G9KC
relay for Level 2 EV charging stations, enabling energy-efficient and
compact designs by mounting directly on PCBs.
- U.S.
Government Support: The CHIPS and Science Act allocated US$ 3 billion
to bolster domestic PCB manufacturing, reducing dependency on Asian supply
chains.
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Market Opportunities and Challenges
Opportunities:
- Rising
EV Adoption: The International Energy Agency (IEA) projects annual EV
sales to reach 45 million units by 2030, significantly boosting PCB
demand.
- Technological
Innovations: Development of ultra-thin, heat-resistant PCBs enhances
EV performance and battery longevity.
- Expansion
in Emerging Markets: Growth in regions like South Asia and Latin
America offers untapped opportunities.
Challenges:
- Supply
Chain Constraints: Despite growth, Europe still produces only 17.5% of
its PCB demand, highlighting supply deficits.
- High
Production Costs: Advanced PCBs with multiple layers and complex
materials require expensive manufacturing processes.
- Raw
Material Availability: Fluctuations in the supply and price of key
materials can impact PCB production.
Future Outlook
The printed circuit board market for electric vehicles is
set to witness robust growth fueled by accelerating EV adoption, autonomous
driving advancements, and evolving regulatory frameworks. East Asia will
maintain dominance due to its integrated electronics ecosystem, high
manufacturing capability, and government backing. The increasing trend toward
multilayer, flexible, and HDI PCBs will drive innovation, efficiency, and
sustainability in EV design.
The market is expected to expand beyond US$ 4.4 billion by
2035, with growth in high-performance PCBs for power electronics, battery
management, and autonomous vehicle systems shaping the future of electric
mobility.
Market Segmentation
By Type:
- Multilayer,
Double-sided, Single-sided
By Substrate Type:
·
Standard Multilayer PCBs, Rigid 1-2 Sided PCBs, HDI/Micro-via/Build-up,
Flexible PCBs, Rigid-flex PCBs, Others
By Material Type:
- FR4
(Flame Retardant 4), Metal-Based PCBs, Ceramic PCBs, Glass-reinforced PTFE,
Power Combi-boards, Others
By Application:
- Advanced
Driver-Assistance Systems (ADAS), Battery Management System (BMS), Power
Electronics & Inverters, Electric Powertrain & Motor Control, Infotainment
& Connectivity, Lighting and Display Systems, Charging Systems, Anti-lock
Braking Systems, Vehicle Control Units (VCUs), Others
By Vehicle Type:
- Two
Wheeler Vehicles, Passenger Cars, Sport Utility Vehicles, Pick-up Trucks, Vans,
Light Duty Commercial Trucks, Medium and Heavy Duty Commercial Trucks, Buses
& Coaches, Off-highway Vehicles (Agriculture, Forestry, Construction,
Mining), Others
By End-users:
- OEMs,
Tier 1 & Tier 2 Suppliers, Aftermarket & Replacement Market
Regional Insights
East Asia:
Dominating the market with 68.3% share in 2024, East Asia benefits from a
comprehensive electronics manufacturing value chain, advanced technology
capabilities, and strong government support for EVs. The region’s PCB producers
lead innovation in weight-efficient, thermal-resistant, and high-performance
PCBs critical for EV powertrains and battery systems.
North America and Europe:
Both regions are increasing investments in domestic PCB production to reduce
supply chain dependence. Strategic government funding and partnerships aim to
close the supply gap and enhance capabilities.
South Asia, Middle East, and Latin America:
These regions are emerging markets offering new growth avenues as EV adoption
accelerates globally.
Why Buy This Report?
This comprehensive report offers valuable insights into the
printed circuit board market for electric vehicles, including:
- Detailed
market sizing and growth forecasts through 2035
- In-depth
analysis of market drivers, challenges, and opportunities
- Extensive
profiling of key players and competitive landscape
- Segmentation
by type, substrate, material, application, vehicle type, and region
- Insights
into latest technological trends and regulatory impacts
- Strategic
recommendations for stakeholders and investors
It is an essential resource for manufacturers, suppliers,
automakers, and technology firms looking to capitalize on the expanding EV
market.
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