New York, NY, March 15, 2016 --(PR.com
)-- A new report recently published by Beige Market intelligence titled “Strategic Assessment of the World Automotive PCB Market” by technology (Single Side PCBs, Flexible PCB and Multi-layer PCB) by applications (Interior Components, Powertrain components, Engine Controls Components, and Vehicle Lighting and Safety systems) World industry analysis, geographical analysis, size, market share, growth, trends and forecast 2016 – 2021 predicts the market to be approximately worth US$ 11 billion by 2021.
One key factor that is adding to the overall growth of the Automotive PCB market is the inherit need for companies to try and improve the efficiency of their vehicles wherever possible. The use of technologies such as haptics allows vendors to provide more features in a vehicle while reducing the overall weight which would otherwise have been taken by the standard mechanical components. Further to this, fuel injection systems that are managed and monitored electronically are able to provide the engine with the right amount of fuel based on the real-time driving situation and hence, improve the fuel efficiency of the vehicle as much as possible. As such, the amount of electronics that will be used in vehicles will continue to increase substantially, especially with the onset of connected cars in the coming years.
Interior components of a vehicle contribute the most towards automotive PCB adoption
As of 2015, interior components of a vehicle contributed approximately 43 percent of the total revenue generated by the sale of PCBs for the automotive sector as a whole. This trend is expected to continue till the end of the forecast period. Infotainment systems which was earlier used in luxury vehicles is not being used across all vehicle segments which in itself has created the demand for PCBs over the last few years. In addition to this, governments across the globe are implementing strict safety standards as to what a vehicle should have in order to be allowed onto the road. The use of air bags is just one such example which is now prevalent across all segments of vehicles and which also employs quite a bit of electronics.
The APAC region will be the largest consumer of automotive PCBs in 2021
It has been well established that the use of electronics in the automotive sector will increase substantially over the next few years. What is an interesting fat however is that it is expected that the APAC region will be the largest consumer of automotive PCBs globally. The region offers various advantages to automotive manufacturers who use the location as a base for the export of their respective vehicles. A healthy economy coupled with good infrastructure development in the region has attracted automotive companies to invest in the region which thereby contributes to sales within the region as well as good export opportunities for these companies.
High Adoption rate of Safety systems driving the market for automotive PCBs
There is a mandate across the globe by various governments to ensure that automotive companies ensure that there are proper safety systems in a vehicle to reduce fatalities. In this respect, companies have been increasing their investments with respect to the inclusion of these safety systems and in some countries, it is expected that more than 90 percent of all vehicles that are produced will have many of these safety systems on board across all segments of vehicles. One such example is that of China where it is expected that by 2017, that at least 90 percent of the vehicles that are sold will have ABS in their vehicles. On an average, it is found that most automotive companies already have around 60 percent of their vehicles which are manufactured as of date with basic safety systems such as ABS and TPMS.
Intense competition among vendors in automotive PCB market
Companies operating in this market include Chin Poon, CMK Corp, Daeduck Electronics, KCE Electronics, Meiko, Multek, Tripod Technology and TTM Technologies.
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