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Report Overview
The Indian printed circuit board (PCB) market reached USD 4.53 billion in 2023. The market is expected to grow at a CAGR of 18.1% between 2024 and 2032, reaching almost USD 20.17 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Indian printed circuit board (PCB) market players are taking steps to enhance local manufacturing to reduce import dependency. Regional advantages in Maharashtra for tech hubs and Tamil Nadu for the automotive sector can be tapped through developing state-of-the-art HDI and flexible PCBs for consumer electronics, automotive, and similar growth areas. Besides this, Indian printed circuit board (PCB) companies are investing in sustainable practices, regional supply chain improvements that will help them meet specific market demands to support the growing industry of electronics in India.
Key Market Players
Key industry leaders in this market are:
Epitome Components Ltd. established in 1994 and headquartered in Maharashtra, stands as a prominent PCB manufacturer in India, boasting advanced infrastructure and a substantial production capacity of 100,000 sqm/month. With a large and contented customer base both domestically and internationally, Epitome has forged a joint venture with Trackwise Designs Ltd., a UK-based company, focusing on producing RF Antenna PCBs vital for cellular networks, radar systems, space industry, and other sophisticated applications.
Shogini Technoarts Pvt. Ltd. established in 1982 and headquartered in Maharashtra, offers extensive solutions by producing top-notch printed circuit boards in a variety of types. These include single and double-sided, multilayer, metal-clad, and flex boards, each tailored for diverse applications. The range of products supports various sectors such as high-speed computing, high-frequency telecommunications, computer peripherals, defence, LED lighting, automotive electronics, and medical electronics.
India Circuit Ltd established in 2007 and headquartered in Chandigarh, demonstrates its commitment to excellence through a diverse product line. This includes single-side PCB, double-side PCB, metal core PCB, and aluminium PCB, reflecting their expertise and focus on delivering top-tier quality products.
Hi-Q Electronics Pvt. Ltd. established in 1983 and headquartered in Karnataka, stands as a premier manufacturer of intricate PCBs in India. Their clientele spans across Aerospace, Space, and high-tech sectors both domestically and internationally. Specializing in PCBs, Electronics Manufacturing, Defence and Aerospace solutions, Prototypes, Multilayer Boards, HDI, Flex Rigid, as well as Blind Buried technologies, they demonstrate a commitment to excellence in their field.
Other key players in the Indian printed circuit board (PCB) market are Genus Electrotech Ltd, Ascent Circuits Pvt Ltd, Fine-Line Circuits Limited, and S.B Electronics among others.
Indian Printed Circuit Board (PCB) Market Report Snapshots
Indian Printed Circuit Board (PCB) Market Size
Indian Printed Circuit Board (PCB) Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 4.53 billion in 2023.
The market is projected to grow at a CAGR of 18.1% between 2024 and 2032.
The market is expected to reach USD 20.17 billion in 2032.
The market is being driven by various factors such as government initiatives, the automotive sector, the expanding semiconductor industry, and technological advancements.
The printed circuit board (PCB) market is categorised according to its product type, which includes rigid 1–2-sided, standard multilayer, flexible circuits, HDI/microvia/build-up, rigid-flex and others.
The key players are Epitome Components Ltd., Shogini Technoarts Pvt. Ltd., India Circuit Ltd, Hi-Q Electronics Pvt. Ltd, Genus Electrotech Ltd, Ascent Circuits Pvt Ltd, Fine-Line Circuits Limited, and S.B Electronics among others.
Based on type, it is divided into rigid PCBs and flexible PCBs.
The major market areas include Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Others.
Based on the application, the printed circuit board (PCB) market is divided into consumer electronics, communication, industrial electronics, computers, military and aerospace, automotive and medical instrumentation.
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