Electric Vehicles Boost Demand in Developing Regions

Tremendously improving the demand for electric vehicles in various developing regions

After a decade of strong expansion, the worldwide electric car stock reached ten million units in 2020, a 43 percent increase over 2019 and a 1% stock share. In 2020, two-thirds of new electric car registrations and two-thirds of the stock were battery electric vehicles (BEVs). China had the largest fleet, with 4.5 million electric vehicles, but Europe had the largest annual rise, reaching 3.2 million in 2020.

Furthermore, about 3 million new electric cars were registered in 2020. With 1.4 million new registrations, Europe took the lead for the first time. China came in second with 1.2 million registrations, followed by the United States with 295 000 new electric vehicles.

Various factors contribute to the growth of electric vehicles, such as gradually improving competitiveness in developing countries on a total cost of ownership basis and increasing government support in terms of the grant or extended fiscal incentives to help electric car buyers.

For instance, the implementation of price caps in Europe and China, i.e., no subsidies for automobiles with prices beyond a particular threshold, was a significant advancement in subsidy schemes. It could explain why the average price of an electric car in Europe and China is falling: BEV cars sold in China were 3% cheaper in 2020 than in 2019, while PHEV cars in Europe were 8% cheaper.

The significant growth in electric vehicles is directly responsible for adding value to the PCB market as it plays a more significant role in the production and running of cars, buses, and other electrically powered vehicles. Furthermore, PCB plays a key role in power conditioning, battery performance, and voltage conversion in electric vehicles. 

Electric car batteries in PCB help develop dependable charging stations, assisting in the construction of 'pay to charge' devices that allow the public to charge their vehicles while also using an inbuilt payment facility, allowing the entire process to be automated leading to improve the market share for the product in the electric vehicle industry.

Improving demand for advanced safety, convenience and comfort systems in automotive industry 

The amplified pace of advancement in the automobile industry has resulted in numerous ancillary devices, such as automotive PCB. The rising use of computers in automobiles has necessitated complex automotive printed circuit boards to function properly. As a result, the increased demand for PCB is likely to set a positive tone for the future growth of the automotive PCB industry.

Furthermore, all the latest cars require a computer-based operation system. PCB is at the center of these system designs, ranging in type – including single-sided, double-sided, multilayer, and others. PCB covers a broad range of applications, such as properly protect and guard the board against elements that may cause damage and compromise the safety and operation of the vehicle. 

For instance, Road traffic crashes claim the lives of approximately 1.3 million people each year. Despite having over 60% of the world's vehicles, low- and middle-income countries account for 93 percent of all road deaths. Thus ADAS use automated technologies such as vehicle sensors and cameras are in great demand to identify surrounding impediments and driver faults and respond appropriately. Because human mistakes cause most traffic incidents, ADAS is designed to automate, adapt, and improve vehicle technology for greater safety and driving.

Luxury automobiles include several PCBs because they have a modern electronic system that increases end-user safety, comfort and convenience. As a result, the light luxury vehicles market category is estimated to capture a considerable market share in the global passenger car market over the projection period.

Alarm systems and alarm devices are now widely employed in many items, and alarm devices have become indispensable. They have a major impact on people's lives and property security. JYCircuitBoard in Brazil designs PCBA sensor products. The device is utilized in a car alarm system, and in a nutshell, it's a door sensor for an automobile that has increased the comfort quotient of the vehicle.

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