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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
Indian Printed Circuit Board (PCB) Market Trends
India's PCB market is expanding due to increased domestic manufacturing and innovation.
A fast-growing trend in the Indian printed circuit board (PCB) market is the rapid increase in domestic manufacturing. With the thrust provided by government initiatives such as "Make in India," there is an increasing impetus toward freedom from dependence upon imported PCBs, which dominate the present market. As per Indian printed circuit board (PCB) market analysis, this shift would be facilitated by increased investments in local PCB production facilities and meaningful technological advancement in industries such as 5G and IoT. As a result, the market is not only seeing an increase in domestic manufacturing and innovation that increase India's role in the global electronic supply chain, but also place it for a leading role even in the manufacturing of PCBs.
Indian printed circuit board (PCB) market is advancing with the rise of flexible and printed electronics.
Another recent trend in the Indian printed circuit board market is increasingly using advanced PCB technologies such as flexible or printed electronics. The demand for flexible PCBs is increasing because it may be used in wearables, consumer electronics, and automotive sectors where flexibility and lightweight is essential. Printed electronics have gained much fame in industries such as healthcare and smart packaging due to the fact that electronic circuits can be integrated into substrates, bolstering the Indian printed circuit board (PCB) demand in the region. This is the reason for the recent fascination with technology and growing demand in terms of novelty, compactness, and efficiency of the electronic solutions. The research and development of their requirements involves huge investments by the company for developing better technologies catering to the evolving needs of the industry. With the pervasiveness of such advanced PCBs, they would drive significant growth and innovation in the market, making India a global leader in state-of-the-art PCBs.
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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