The Global Automotive PCB Market reached USD 8,141.70 million in 2020, and it is expected to record growth at a CAGR of 5.2 % to reach USD YY million by 2028
The Automotive Industry has progressed from pure mechanical structure to participation in electronic parts. A top-level automotive possibly contains 150 electronic control units that are primarily sensors and processors inside the cockpit. One such progression in the automotive industry is the growing popularity of printed control boards.
A printed circuit board, or PCB, is a non-conductive material with conductive lines printed. Electronic components are mounted on the board, and the traces connect the segments to shape a functioning circuit or assembly. The growing popularity of printed circuit boards for vehicles can be ascribed to their usefulness and their numerous different advantages.
Increasing demand for more accessories and features in cars that can be achieved by increasingly sophisticated electronic systems coupled with growing electric vehicles sales are the prime factors driving the automotive PCB market growth.
On, the basis of fuel type, the Battery Electric Vehicles (BEVs) segment is projected to contribute the highest revenue during the forecast period as BEVs are adopted with advanced technologies to attract more customers and are incorporated with more number electric components, ECUs, and PCB in the drive train, interior, and body areas.
On the basis of substrate PTFE PCB is estimated to increase its market share in the forecast period due to its high-temperature resistance, corrosion resistance, weather resistance, high insulation, no adhesion, high lubrication, Non-toxic and other excellent characteristics.
Tremendously improving production facilities and growing demand for passenger cars and electric vehicles is driving the APAC automotive PCB market.
Market Dynamics
Drivers
- Tremendously improving the demand for electric vehicles in various developing regions
- Improving demand for advanced safety, convenience and comfort systems in automotive industry
Restraints
- High cost of the product coupled with difficult repairing and troubleshooting
Geographical Analysis
The Middle East and Africa Automotive PCB Market was valued at US$ 96.35 million in 2020 and is estimated to grow at a CAGR of 2.0% over the forecast period to reach US$ YY million by 2028.
Even though oil comprises a significant wellspring of public income and homegrown fuel for a few Middle Eastern nations, the individual governments center around environmentally friendly power and clean transportation advancements. The improvement of the PCB in the auto district will move with the thought of electric vehicles and autonomous vehicles. The printed circuit sheets hold together the entirety of the fragile parts and sensors needed for the consistent development of an auto vehicle.
The reception of electric vehicles is set to enter the fast track in the Gulf, particularly in technically knowledgeable metropolitan center points, similar to Dubai. As the EVs are in the incipient stage in the country, it has not yet set out motivating forces for the organization of EVs, for example, free charging stations, Greenbank advances, and so on EV motivating forces are yet to be grown, particularly when EV arrangement begins a business scale. Several countries in the region have taken a couple of drives, which will probably help the EV interest in the country. For example, Saudi Electricity Company marked an arrangement with Nissan Motor, Takaoka Tokyo, and Tokyo Electric Power Company for the principal EV pilot project in Saudi Arabia. The understanding accommodates the improvement of quick charger EV stations.
In addition, the nation marked an update of comprehension ("MoU") with the United Kingdom to decrease fossil fuel byproducts and backing Saudi Vision 2030. The MoU submits the two nations to coordinate and share aptitude to foster innovations, including savvy networks and EVs.
Tesla's entrance into the EV (electric vehicle) market shook the car business with its all-electric scope of vehicles. For example, to advance the United Arab Emirates' green versatility arrangements and as a component of its arrangement to have 25% of the city's excursions changed over into driverless excursions by 2030, the city finished developing 200 charging stations in the emirate by 2018. It is as of now excluding enrolled electric vehicles from charging expenses until 2021 and leaving charges until 2022.
Moving to Africa, Electric vehicles stay uncommon in the greater part of Africa. The likelihood of discovering one is around one out of many. In South Africa, the biggest EV market worldwide, just 1,000 out of more than 12 million vehicles on its streets are EVs. EVs in Africa face infrastructural challenges like feeble power lattices, Bad streets and the absence of public E-chargers. For instance, in Nigeria, the normal admittance to power is around 12 hours, and there are no realized public EV charging stations in the country. In any case, the electric-vehicle transformation is gradually coming to the roads of Africa.
However, many new companies in a few nations are assembling little electric-vehicle armadas of light transporters and bikes vehicles appropriate for the mainland's difficult streets for taxi and conveyance administrations. For example, in February 2020, Kenya-based ARC Ride dispatched electric two-and three-wheelers for Uber Eats conveyances in Nairobi.
In October 2019, Volkswagen with Siemens consented to another arrangement to begin an electric versatility plausibility project. This new task is relied upon to be done in the Africa locale in the Rwanda area. With this arrangement, the organization is relied upon to expand its essence in the African market.
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