Top 4 Companies in the India Printed Circuit Board (PCB) Market in 2025

The Indian printed circuit board (PCB) market reached a value of about USD 4.53 billion in 2024. The market is projected to grow at a CAGR of 18.1% in the forecast period of 2025-2034 to reach around USD 23.91 Billion by 2034. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid growth in the consumer electronics sector.

The printed circuit board (PCB) is an essential component in electronics sector, serving as the foundation for connecting electronic elements without the need for wires. Typically made from materials like fibreglass or epoxy composites, PCBs come in various forms, from simple single-layer designs to complex multi-layered configurations. They find extensive use across industries, including automotive, electronics, medical, aerospace, and defence, facilitating the operation of devices like computers, smartphones, medical equipment, and more. With options like rigid, flexible, and high-density interconnect boards, PCBs offer versatility in design and application.

The Indian printed circuit board (PCB) market growth is largely propelled by the thriving consumer electronics industry in the region, anticipated to experience significant expansion in the coming years. Fuelled by rapid urbanisation, improving living standards, and growing disposable incomes among the populace, demand for computers, cell phones, and tablets is soaring in India. These electronic devices rely heavily on PCBs, forming an integral component of their operational framework.

The rising trend towards computer miniaturisation is also boosting Indian printed circuit board (PCB) market expansion. Manufacturers are shrinking semiconductor devices not just to downsize electronics for aesthetic appeal but also to enhance overall performance. This, coupled with advancements in PCB production methods, is fuelling market growth.

In January 2024, Amber Enterprises acquired a 60% stake in Ascent Circuits via its subsidiary ILJIN Electronics, bolstering its EMS portfolio. The move aimed to strengthen local value addition and backward integration into PCB Assemblies' passive components. Ascent, situated in South India, specialised in manufacturing various types of Printed Circuit Boards, serving diverse sectors such as Aerospace and Defence, Automotive, Telecom, and Consumer Electronics. The acquisition facilitated Amber's expansion in the electronics sector, enhancing research and development capabilities and Bare PCB Boards manufacturing.

Top Printed Circuit Board (PCB) Companies in India:

1. Epitome Components Ltd.

Epitome Components Ltd, founded by the Dhoot family in 1994, began producing Single Side PCBs in 1996 with an initial capacity of 15,000 sqm/month. Over the years, it expanded to meet market demands, now boasting India's largest production capacity at 100,000 sqm/month. Partnering with Trackwise, UK, Epitome ventured into RF PCB manufacturing in 2007, blending Trackwise's RF expertise with Epitome's volume manufacturing capabilities. Noteworthy is Epitome's recent investment in Double Side and Multi-layer manufacturing facilities since October 2009. It serves as a preferred supplier to top Indian and MNCs.

2. Shogini Technoarts Pvt. Ltd.

Shogini Technoarts Pvt. Ltd., established in 1979, has emerged as a premier provider of top-tier Printed Circuit Boards (PCBs). Operating from Pune, India, the ISO 9001-2015 certified facility adheres to stringent quality standards. The company caters to diverse industries, from LED lighting to automotive systems, ensuring excellence in every PCB produced. With meticulous attention to detail and cutting-edge technology, the team delivers defect-free PCBs for global clientele. The company’s commitment to innovation and customer satisfaction underscores the position as a trusted partner in technological advancement, serving clients globally.

3. India Circuit Ltd

India Circuit Pvt. Ltd. is driven by a mission to deliver impeccably engineered PCBs, fuelling global technological progress. With a commitment to tailored solutions and collaborative partnerships, the company has set new standards in quality and customer satisfaction. The company’s vision is to revolutionise PCB manufacturing through innovation and exceptional service, fostering a connected and sustainable future. With over two decades of experience and certifications for quality assurance, the company serves diverse industries with a wide range of high-quality PCB solutions. The company’s dedicated team ensures customer needs are met with precision and reliability.

4. Hi-Q Electronics Pvt. Ltd

Hi-Q Electronics, founded in 1978 by Managing Director Dr. S. Venkatachalam, stands as a premier manufacturer of cutting-edge PCBs in India. Serving esteemed clients like ISRO and CERN, the company’s advanced facility in Hosur specialises in high-layer count Multilayer PCBs, Flex, Flex Rigid, and HDI PCBs. With a commitment to precision and reliability, the company offers quick turnaround times for prototypes and small quantities, alongside high-reliability boards for aerospace and defence. Continual investment in technology ensures the position as leaders in PCB manufacturing, paving the way for India's electronic industry expansion.