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Indian Printed Circuit Board (PCB) Market: By Manufacturing Type: Bare PCBs, Populated PCBs; By Product Type; By Number of Layers; By Segment; By Laminate Type; By Application; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Competitive Landscape; Industry Events and Developments

Indian Printed Circuit Board (PCB) Market Outlook

The Indian printed circuit board (PCB) market reached a value of USD 2.75 billion in 2019. The market is further expected to grow at a CAGR of about 18% in the forecast period of 2020-2025 to reach a value of approximately USD 7.45 billion by 2025.

India is among the major and rapidly rising consumer electronics markets in the Asia Pacific region. Computers, tablets, cell phones, and other electronics use rigid PCBs in areas critical to the functionality of such devices, like motherboards; thus, the growth of the consumer electronics industry in India is expected to have a positive effect on the progress of the PCB industry.

 

Properties and Applications

The printed circuit board (PCB) refers to an electrical circuit which is used as the basis for most electronics and for linking electronic and electrical components without using wires. It is used to physically assist and connect surface-mounted and socket components in a wide variety of electronics. Such copper-laminated boards are typically made of fibreglass, epoxy composites, or other composite materials. Whereas simple electronics contain a single layer of PCBs, complex and sophisticated hardware includes multiple layers that can be up to twelve. PCBs are commonly used in a wide range of industries for a number of applications, including computers, television sets, cell phones, digital cameras, laptops, game consoles, medical equipment, LED lighting, and other industrial machines.

On the basis of manufacturing type, the market can be divided into:

  • Bare PCBs
  • Populated PCBs

Based on product type, the market can be divided into:

  • Rigid 1-2 Sided
  • Standard Multilayer
  • Flexible Circuits
  • HDI/ Microvia/Build-Up
  • Rigid Flex
  • Others

On the basis of the number of layers, the industry can be segmented as follows:

  • Single-Sided
  • Double-Sided
  • Multi-Layer

Based on the segment, the market can be categorised into:

  • Rigid 
  • Flexible 

Based on laminate type, the market can be divided into:

  • FR-4Polyamide
  • CEM-1
  • Paper
  • Others

It finds wide applications in the following:

  • Consumer Electronics
  • Communication
  • Industrial Electronics
  • Computers
  • Military and Aerospace
  • Automotive
  • Medical Instrumentation
  • Others

The regional markets for printed circuit board (PCB) include Maharashtra, Tamil Nadu, Karnataka, and Gujarat.

 

Market Analysis

The Indian printed circuit board (PCB) market is primarily driven by the booming consumer electronics sector in the region, which is expected to have robust growth over the next few years. Aided by rapid urbanisation, rising living standards, and increasing disposable incomes of the majority of the population, the sales of computers, cell phones, and tablets are on the rise in India, which uses PCBs as an indispensable portion of their mechanism. This is further encouraged by the constructive steps taken by the Government of India to provide impetus to domestic consumer electronics production units. Many initiatives, including 'Made in India,' 'Digital India', and the National Policy on Electronics, have led to a major increase in the demand for PCBs from domestic producers. In addition, the increasing trend of computer miniaturisation is also stimulating the market growth. Manufacturers limit the size of semiconductor devices not only in order to reduce the size of electronics and make them aesthetically appealing, but also to increase their overall performance. It, in confluence with the emergence of various advancements in the method of producing PCBs, provides an impetus to the development of the market. The increasing adoption of digitisation and modernisation in the medical sector is also expected to impact the demand for PCBs in the coming years, generating a positive market outlook.

 

Competitive Landscape 

The report gives a detailed analysis of the following key players in the Indian printed circuit board (PCB) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Epitome Components Ltd.
  • Shogini Technoarts Pvt. Ltd.
  • India Circuit Ltd
  • Hi-Q Electronics Pvt. Ltd 
  • Others 

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Market Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Indian
7    Industry Opportunities and Challenges
8    Global Printed Circuit Board (PCB) Market Overview

    8.1    Key Industry Highlights
    8.2    Global Printed Circuit Board (PCB) Historical Market (2015-2019) 
    8.3    Global Printed Circuit Board (PCB) Market Forecast (2020-2025)
    8.4    Global Printed Circuit Board (PCB) Market by Manufacturing Type
    8.5    Global Printed Circuit Board (PCB) Market by Product Type  
    8.6    Global Printed Circuit Board (PCB) Market by Number of Layers
    8.7    Global Printed Circuit Board (PCB) Market by Segment
    8.8    Global Printed Circuit Board (PCB) Market by Laminate Type 
    8.9    Global Printed Circuit Board (PCB) Market by Application
9    Indian Printed Circuit Board (PCB) Market Analysis
    9.1    Key Industry Highlights
    9.2    Indian Printed Circuit Board (PCB) Historical Market (2015-2019) 
    9.3    Indian Printed Circuit Board (PCB) Market Forecast (2020-2025)
    9.4    Indian Printed Circuit Board (PCB) Market by Manufacturing Type
        9.4.1    Bare PCBs
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2015-2019)
            9.4.1.3    Forecast Trend (2020-2025)
        9.4.2    Populated PCBs 
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2015-2019)
            9.4.2.3    Forecast Trend (2020-2025)
    9.5    Indian Printed Circuit Board (PCB) Market by Product Type  
        9.5.1    Rigid 1-2 Sided
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2015-2019)
            9.5.1.3    Forecast Trend (2020-2025)
        9.5.2    Standard Multilayer
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2015-2019)
            9.5.2.3    Forecast Trend (2020-2025)
        9.5.3    Flexible Circuits
            9.5.3.1    Market Share
            9.5.3.2    Historical Trend (2015-2019)
            9.5.3.3    Forecast Trend (2020-2025)
        9.5.4    HDI/Microvia/Build-Up
            9.5.4.1    Market Share
            9.5.4.2    Historical Trend (2015-2019)
            9.5.4.3    Forecast Trend (2020-2025)
        9.5.5    Rigid Flex
            9.5.5.1    Market Share
            9.5.5.2    Historical Trend (2015-2019)
            9.5.5.3    Forecast Trend (2020-2025)
        9.5.6    Others
    9.6    Indian Printed Circuit Board (PCB) Market Performance by Number of Layers  
    9.6.1    Single-Sided
            9.6.1.1    Market Share
            9.6.1.2    Historical Trend (2015-2019)
            9.6.1.3    Forecast Trend (2020-2025)
        9.6.2    Double-Sided
            9.6.2.1    Market Share
            9.6.2.2    Historical Trend (2015-2019)
            9.6.2.3    Forecast Trend (2020-2025)
        9.6.3    Multi-Layer   
            9.6.3.1    Market Share
            9.6.3.2    Historical Trend (2015-2019)
            9.6.3.3    Forecast Trend (2020-2025)
    9.7    Indian Printed Circuit Board (PCB) Market by Segment  
        9.7.1    Rigid PCBs
            9.7.1.1    Market Share
            9.7.1.2    Historical Trend (2015-2019)
            9.7.1.3    Forecast Trend (2020-2025)
        9.7.2    Flexible PCBs
            9.7.2.1    Market Share
            9.7.2.2    Historical Trend (2015-2019)
            9.7.2.3    Forecast Trend (2020-2025)
    9.8    Indian Printed Circuit Board (PCB) Market by Laminate Type
        9.8.1    FR-4
            9.8.1.1    Market Share
            9.8.1.2    Historical Trend (2015-2019)
            9.8.1.3    Forecast Trend (2020-2025)
        9.8.2    Polyamide
            9.8.2.1    Market Share
            9.8.2.2    Historical Trend (2015-2019)
            9.8.2.3    Forecast Trend (2020-2025)
        9.8.3    CEM-1
            9.8.3.1    Market Share
            9.8.3.2    Historical Trend (2015-2019)
            9.8.3.3    Forecast Trend (2020-2025)
        9.8.4    Paper
            9.8.4.1    Market Share
            9.8.4.2    Historical Trend (2015-2019)
            9.8.4.3    Forecast Trend (2020-2025)
        9.8.5    Others
    9.9    Indian Printed Circuit Board (PCB) Market by Application  
        9.9.1    Consumer Electronics
            9.9.1.1    Market Share
            9.9.1.2    Historical Trend (2015-2019)
            9.9.1.3    Forecast Trend (2020-2025)
        9.9.2    Communication
            9.9.2.1    Market Share
            9.9.2.2    Historical Trend (2015-2019)
            9.9.2.3    Forecast Trend (2020-2025)
        9.9.3    Industrial Electronics
            9.9.3.1    Market Share
            9.9.3.2    Historical Trend (2015-2019)
            9.9.3.3    Forecast Trend (2020-2025)
        9.9.4    Computers
            9.9.4.1    Market Share
            9.9.4.2    Historical Trend (2015-2019)
            9.9.4.3    Forecast Trend (2020-2025)
        9.9.5    Military and Aerospace
            9.9.5.1    Market Share
            9.9.5.2    Historical Trend (2015-2019)
            9.9.5.3    Forecast Trend (2020-2025)
        9.9.6    Automotive
            9.9.6.1    Market Share
            9.9.6.2    Historical Trend (2015-2019)
            9.9.6.3    Forecast Trend (2020-2025)
        9.9.7    Medical Instrumentation
            9.9.7.1    Market Share
            9.9.7.2    Historical Trend (2015-2019)
            9.9.7.3    Forecast Trend (2020-2025)
    9.10    Indian Printed Circuit Board (PCB) Market by States
        9.10.1    Market Share
            9.10.1.1    Maharashtra
            9.10.1.2    Tamil Nadu
            9.10.1.3    Karnataka
            9.10.1.4    Gujarat
            9.10.1.5    Others
10    Regional Analysis
    10.1    Maharashtra
        10.1.1    Historical Trend (2015-2019)
        10.1.2    Forecast Trend (2020-2025)
    10.2    Tamil Nadu
        10.2.1    Historical Trend (2015-2019)
        10.2.2    Forecast Trend (2020-2025)
    10.3    Karnataka
        10.3.1    Historical Trend (2015-2019)
        10.3.2    Forecast Trend (2020-2025)
    10.4    Gujarat
        10.4.1    Historical Trend (2015-2019)
        10.4.2    Forecast Trend (2020-2025)
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyers Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    EMR’s Key Indicators for Demand
    11.4    EMR’s Key Indicators for Price
12    Value Chain Analysis
13    Price Analysis
14    Manufacturing Process

    14.1    Detailed Process Flow
    14.2    Operations Involved
    14.3    Mass Balance
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players’ Market Share
    15.3    Company Profiles
        15.3.1    Epitome Components Ltd.
            15.3.1.1    Company Overview
            15.3.1.2    Product Portfolio
            15.3.1.3    Demographic Reach and Achievements
            15.3.1.4    Certifications
        15.3.2    Shogini Technoarts Pvt. Ltd.
            15.3.2.1    Company Overview
            15.3.2.2    Product Portfolio
            15.3.2.3    Demographic Reach and Achievements
            15.3.2.4    Certifications    
        15.3.3    India Circuit Ltd
            15.3.3.1    Company Overview
            15.3.3.2    Product Portfolio
            15.3.3.3    Demographic Reach and Achievements
            15.3.3.4    Certifications    
        15.3.4    Hi-Q Electronics Pvt. Ltd 
            15.3.4.1    Company Overview
            15.3.4.2    Product Portfolio
            15.3.4.3    Demographic Reach and Achievements
            15.3.4.4    Certifications
        15.3.5    Others
16    Industry Events and Developments

 
List of Figures and Tables

1.    Global Printed Circuit Board (PCB) Market: Key Industry Highlights, 2015 and 2025
2.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Manufacturing Type (USD Billion), 2015-2019
3.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Manufacturing Type (USD Billion), 2020-2025
4.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Product Type (USD Billion), 2015-2019
5.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Product Type (USD Billion), 2020-2025
6.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Number of Layers (USD Billion), 2015-2019
7.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Number of Layers (USD Billion), 2020-2025
8.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Segment (USD Billion), 2015-2019
9.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Segment (USD Billion), 2020-2025
10.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Laminate Type (USD Billion), 2015-2019
11.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Laminate Type (USD Billion), 2020-2025
12.    Global Printed Circuit Board (PCB) Historical Market: Breakup by Application (USD Billion), 2015-2019
13.    Global Printed Circuit Board (PCB) Market Forecast: Breakup by Application (USD Billion), 2020-2025
14.    Indian Printed Circuit Board (PCB) Market: Key Industry Highlights, 2015 and 2025
15.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Manufacturing Type (USD Billion), 2015-2019
16.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Manufacturing Type (USD Billion), 2020-2025
17.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Product Type (USD Billion), 2015-2019
18.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Product Type (USD Billion), 2020-2025
19.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Number of Layers (USD Billion), 2015-2019
20.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Number of Layers (USD Billion), 2020-2025
21.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Segment (USD Billion), 2015-2019
22.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Segment (USD Billion), 2020-2025
23.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Type (USD Billion), 2015-2019
24.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Laminate Type (USD Billion), 2020-2025
25.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Laminate Type (USD Billion), 2015-2019
26.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by Application (USD Billion), 2015-2019
27.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by Application (USD Billion), 2020-2025
28.    Indian Printed Circuit Board (PCB) Historical Market: Breakup by States (USD Billion), 2015-2019
29.    Indian Printed Circuit Board (PCB) Market Forecast: Breakup by States (USD Billion), 2020-2025
30.    Indian Printed Circuit Board (PCB) Market Structure

Key Questions Answered in the Report

In 2019, the Indian printed circuit board (PCB) market attained a value of nearly USD 2.75 billion. 

The market is projected to grow at a CAGR of 18% between 2020 and 2025.

The market is estimated to witness a healthy growth in the forecast period of 2020-2025 to reach about USD 7.45 billion by 2025.

The major drivers of the industry, such as the growth of the consumer electronics sector, rising disposable incomes, increasing population, growing penetration of smartphones and internet, and increased government initiatives, are expected to aid the market growth.

The key market trends guiding the growth of the PCB market include the growing inclination towards computer miniaturisation, increasing digitisation in the healthcare sector, and growing technological advancements.

The major regions in the industry include Maharashtra, Tamil Nadu, Karnataka, and Gujarat.

Bare and populated PCBs are the major manufacturing-types in the industry.

Consumer electronics, communication, industrial electronics, computers, military and aerospace, automotive, medical instrumentation, and others are the major applications of PCB.

The significant product types of PCB include rigid 1-2 sided, standard multilayer, flexible circuits, HDI/ microvia/build-up, and rigid flex.

Single-sided, double-sided, and multi-layer are the significant number of layers available in the industry. 

Rigid and flexible PCBs are the major segments of PCB in the industry. 

FR-4, polyamide, CEM-1, and paper, among others are the major laminate-types available in the industry.

The major players in the industry are Epitome Components Ltd., Shogini Technoarts Pvt. Ltd., India Circuit Ltd, and Hi-Q Electronics Pvt. Ltd, among others.

Analyst Review

The Indian printed circuit board (PCB) market attained a value of USD 2.75 billion in 2019, driven by the thriving consumer electronics industry and favourable government initiatives in the region. Aided by the growing demand for miniaturised gadgets and increased digitisation of the medical sector, the market is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 18%. The market is projected to reach USD 7.45 billion by 2025. 

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its manufacturing-types, the industry can be bifurcated into bare and populated PCBs. On the basis of applications, the industry is divided into consumer electronics, communication, industrial electronics, computers, military and aerospace, automotive, medical instrumentation, and others. On the basis of product-types, the industry is segmented into rigid 1-2 sided, standard multilayer, flexible circuits, HDI/microvia/build-up, and rigid flex, among others. Based on number of layers, the industry is segregated into single-sided, double-sided, and multi-layer. On the basis of segment, the industry is bifurcated into rigid and flexible PCBs. By laminate-type, the market is categorised into FR-4, polyamide, CEM-1, and paper, among others. The major regional markets for PCB in India are Maharashtra, Tamil Nadu, Karnataka, and Gujarat, among others. The key players in the above market include Epitome Components Ltd., Shogini Technoarts Pvt. Ltd., India Circuit Ltd, and Hi-Q Electronics Pvt. Ltd, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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