PCB & PCBA Market Report 2025 (Global Edition)

Global PCB & PCBA Market Report 2025 Market Size Split by Type (Rigid 1-2 sided, Standard Multilayer, Hdi/micro via/build-up, IC Substrate, Flexible Circuits), by Application (Consumer Electronics, Co...

PCB & PCBA Market Report Description

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Imapct of Trumph Tariff on Electronics and Electrical Industry

In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.

Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.

China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.

Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.

Competitive Landscape of the PCB and PCBA Market

The companies compete based on factors such as product quality, innovation, pricing, and global presence to gain market share and maintain their competitive edge.

PCB and PCBA Industry Market

In August 2020, Schweizer Electronic AG and Varikorea Co., Ltd. entered into a sales representative agreement for South Korea, under which Varikorea will be promoting SCHWEIZER's high-tech printed circuit boards as well as embedding solutions within the territory.

(Source:https://schweizer.ag/en/news-details/schweizer-unterzeichnet-handelsvertretervereinbarung-mit-varikorea-fuer-suedkorea)

Top Companies Market Share in PCB & PCBA Industry: (In no particular order of Rank)

• Nippon Mektron
• Unimicron
• SEMCO
• Young Poong Group
• Ibiden
• ZDT
• Tripod
• TTM
• SEI
• Daeduck Group
• HannStar Board (GBM)
• Nanya PCB
• CMK Corporation
• Shinko Electric Ind.
• Compeq
• AT&S
• Kingboard
• Ellington
• Topcb
• DSBJ
• Kinwong
• Samsung
• Wus
• Fujikura
• MEIKO ELECTRONICS
• SCC
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of PCB & PCBA Market

Which Region will dominate the PCB & PCBA market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the presence of key players and a robust electronics industry. Additionally, the increasing adoption of advanced technologies like IoT, AI, and 5G further fuels the demand for PCB and PCBA in North America. With a strong emphasis on innovation and technological advancements, the region is expected to continue witnessing steady growth in the PCB and PCBA markets.

Which Region is Expanding at the Fastest CAGR?

Europe is the fastest-growing region due to strong demand from various industries such as automotive, telecommunications, consumer electronics, and industrial machinery. The increasing adoption of electronic devices and the growing trend towards automation and digitalization further drive the demand for PCB & PCBA in the region. Additionally, stringent regulations regarding product safety and environmental sustainability also influence market dynamics. Overall, Europe presents a lucrative market for PCB & PCBA manufacturers, with opportunities for growth and innovation in various sectors.

The current report Scope analyzes PCB & PCBA Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America PCB & PCBA Market Analysis

According to Cognitive Market Research, the global PCB and PCBA market size was estimated at USD 76152.2 Million, out of which North America held the major market of more than 40% of the global revenue with market size of USD 30460.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031 due to the increasing demand for consumer electronics, automotive electronics, and telecommunications equipment is fueling the growth of the market. Additionally, the growing adoption of IoT devices, smart appliances, and wearables is creating opportunities for PCB and PCBA manufacturers. Furthermore, advancements in technology such as 5G, AI, and autonomous vehicles are driving the need for more sophisticated and compact PCBs and PCBA solutions.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the PCB and PCBA market, with a market size of USD 24033.63 million in 2024, projected to grow at a CAGR of 1.5% during the forecast period. The increasing demand for consumer electronics, automotive electronics, and telecommunications equipment amplifies the demand. 
• The Canada Bladder Cancer Molecular Diagnostics market had a market share of USD 3655.31 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. Canada's government initiatives to promote electronics manufacturing and the growing trend of outsourcing PCB assembly services fuel growth.
• The Mexico PCB and PCBA market is projected to grow at a CAGR of 2.2% during the forecast period, with a market size of USD 2771.94 million in 2024.

Europe PCB & PCBA Market Analysis

According to Cognitive Market Research, the global PCB and PCBA market size was estimated at USD 76152.2 Million, out of which Europe held the major market of more than 30% of the global revenue with a market size of USD 22845.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031 due to increasing demand for electronic devices across various industries such as automotive, healthcare, and telecommunications. Additionally, advancements in technology leading to the development of smaller, more efficient PCBs and the growing trend toward miniaturization are contributing to market growth. Furthermore, the emphasis on sustainability and environmental regulations is prompting the adoption of eco-friendly PCB materials and manufacturing processes.

• The United Kingdom PCB and PCBA market had a market share of USD 3838.07 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period. It is due to increasing demand for consumer electronics, automotive applications, and advancements in technology.
• The French PCB and PCBA market is projected to grow at a CAGR of 1.2% during the forecast period, with a market size of USD 2101.80 million in 2024.
• According to Cognitive Market Research, the German PCB and PCBA market size was valued at USD 4523.44 million in 2024 and is projected to grow at a CAGR of 2.2% during the forecast period. PCB and PCBA sales surged in Germany due to the growth of industries like automotive, telecommunications, and healthcare, as well as government initiatives promoting innovation and manufacturing. 
• The Italy PCB and PCBA market is projected to grow at a CAGR of 1.4% during the forecast period, with a market size of USD 1964.73 million in 2024.
• The Russian PCB and PCBA market is projected to grow at a CAGR of 1.0% during the forecast period, with a market size of USD 3541.08 million in 2024.
• The Spanish PCB and PCBA market is projected to grow at a CAGR of 1.1% during the forecast period, with a market size of USD 1873.34 million in 2024.
• The Luxembourg PCB and PCBA market is projected to grow at a CAGR of 2.1% during the forecast period, with a market size of USD 708.22 million in 2024.
• The Portugal PCB and PCBA market is projected to grow at a CAGR of 1.8% during the forecast period, with a market size of USD 479.76 million in 2024.
• The Greece PCB and PCBA market is projected to grow at a CAGR of 2.3% during the forecast period, with a market size of USD 274.15 million in 2024.
• The rest of Europe's PCB and PCBA markets are projected to grow at a CAGR of 0.7% during the forecast period, with a market size of USD 3541.08 million in 2024.

Asia Pacific PCB & PCBA Market Analysis

According to Cognitive Market Research, the global PCB and PCBA market size was estimated at USD 76152.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 17515.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031 due to increasing demand for consumer electronics, automotive electronics, and communication devices. Additionally, the region benefits from a well-established manufacturing infrastructure, favorable government policies, and a skilled labor force. Furthermore, the growing adoption of IoT (Internet of Things) devices and advancements in technology, such as 5G, are also contributing to the growth of the PCB and PCBA market in the Asia-Pacific region.

• According to Cognitive Market Research, the Chinese PCB and PCBA market was valued at USD 7881.75 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. It is due to the growing demand for electronic devices, increasing adoption of automation in manufacturing processes, and advancements in technology.
• The Japan PCB and PCBA market is projected to grow at a CAGR of 4.0% during the forecast period, reaching USD 2417.07 million in 2024. It is due to the increasing demand for consumer electronics, automotive electronics, and the growing adoption of IoT devices.
• The India PCB and PCBA market had a market share of USD 2101.80 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. 
• The South Korean PCB and PCBA market is projected to grow at a CAGR of 4.6% during the forecast period, with a market size of USD 1751.50 million in 2024.
• The Australian PCB and PCBA market is projected to grow at a CAGR of 5.2% during the forecast period, with a market size of USD 910.78 million in 2024.
• The South East Asia PCB and PCBA market is projected to grow at a CAGR of 6.5% during the forecast period, with a market size of USD 1208.54 million in 2024.
• The Rest of the Asia Pacific PCB and PCBA market is projected to grow at a CAGR of 5.3% during the forecast period, with a market size of USD 1243.57 million in 2024.

South America PCB & PCBA Market Analysis

According to Cognitive Market Research, the global PCB and PCBA market size was estimated at USD 76152.2 Million, out of which Latin America market has more than 5% of the global revenue with market size of USD 3807.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2031 due to increasing demand for electronic devices, the growth of the automotive and industrial sectors, and the emergence of IoT technologies. Additionally, favorable government initiatives and investments in infrastructure projects are boosting the market. The region's expanding consumer electronics industry and rising disposable income also contribute to the growth of the PCB & PCBA market in Latin America.

• According to Cognitive Market Research, Brazil's PCB and PCBA market size was valued at USD 1629.66 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. PCB and PCBA sales flourish in Brazil due to the growing adoption of advanced technologies like IoT, AI, and 5G.
• The Argentina PCB and PCBA market had a market share of USD 639.68 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. The government initiatives promoting manufacturing and technological advancements fuel growth.
• The Colombia PCB and PCBA market is projected to grow at a CAGR of 2.7% during the forecast period, with a market size of USD 338.88 million in 2024.
• The Peru PCB and PCBA market is projected to grow at a CAGR of 3.1% during the forecast period, with a market size of USD 312.22 million in 2024.
• The Chile PCB and PCBA market is projected to grow at a CAGR of 3.2% during the forecast period, with a market size of USD 274.15 million in 2024.
• The Rest of the Latin America PCB and PCBA market is projected to grow at a CAGR of 2.0% during the forecast period, with a market size of USD 613.03 million in 2024.

Middle East PCB & PCBA Market Analysis

According to Cognitive Market Research, the global PCB and PCBA market size was estimated at USD 76152.2 Million, out of which Middle East and Africa held the major market of around 2% of the global revenue with market size of USD 1523.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031 due to rapid urbanization, industrialization, and infrastructure development are increasing demand for electronics in various sectors such as automotive, telecommunications, and consumer electronics. Additionally, government initiatives promoting digitalization and the adoption of advanced technologies are further fueling market growth. Moreover, the rise of IoT devices, smart technology, and renewable energy projects are creating opportunities for PCB and PCBA manufacturers in the region.

• According to Cognitive Market Research, the GCC Countries' PCB and PCBA market size was valued at USD 651.86 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. PCB and PCBA sales flourish in the GCC Countries due to the growth in industries like automotive and telecommunications and government initiatives promoting manufacturing and technology.
• The Egypt PCB and PCBA market is projected to grow at a CAGR of 3.5% during the forecast period, with a market size of USD 159.92 million in 2024.
• The South African PCB and PCBA market is projected to grow at a CAGR of 4.2% during the forecast period, with a market size of USD 240.64 million in 2024. PCB and PCBA sales flourish in South Africa due to technological advancements, government initiatives supporting local manufacturing, and the increasing adoption of IoT devices.
• The Turkish PCB and PCBA market is projected to grow at a CAGR of 2.7% during the forecast period, with a market size of USD 130.98 million in 2024.
• The Nigeria PCB and PCBA market is projected to grow at a CAGR of 2.3% during the forecast period, with a market size of USD 159.92 million in 2024.
• The Rest of the MEA PCB and PCBA market is projected to grow at a CAGR of 2.2% during the forecast period, with a market size of USD 179.72 million in 2024.

PCB & PCBA Market Analysis

PCB & PCBA Type Segment Analysis

According to Cognitive Market Research, rigid 1-2-sided held the major market share over the forecast period. These PCBs have conductive layers on only one or both sides of the substrate material. They are commonly used in simple electronic devices with relatively straightforward circuitry.

Standard multilayer is the fastest-growing category over the forecast period. These PCBs consist of multiple layers of conductive material separated by insulating layers, allowing for complex circuit designs and higher component density. They are widely used in advanced electronic devices such as computers, smartphones, and medical equipment.

• Rigid 1-2 sided
• Standard Multilayer
• Hdi/micro via/build-up
• IC Substrate
• Flexible Circuits

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of PCB & PCBA Industry. Request a Free Sample PDF!

PCB & PCBA Application Segment Analysis

According to Cognitive Market Research, the consumer electronics segment largely held the major market share over the forecast period. It encompasses a wide range of products, such as smartphones, tablets, wearables, home appliances, and entertainment devices. PCBs and PCBA play a crucial role in powering and connecting the various components within these devices, ensuring their functionality and performance.

Computers are the fastest-growing category over the forecast period. It includes desktops, laptops, servers, and networking equipment, which are heavily reliant on PCBs and PCBA for their operation. These components enable the interconnection of the processor, memory, storage, and other essential elements of computer systems, facilitating their functionality and processing capabilities.

• Consumer Electronics
• Computer
• Communications
• Industrial/Medical
• Automotive
• Military/Aerospace

The above Graph is for representation purposes only. This chart does not depict actual Market share.

PCB & PCBA Sales Channel Segment Analysis

According to Cognitive Market Research, direct holds a prominent market share. It involves selling PCBs and PCBA directly from the manufacturer to the end-user or customer without involving intermediaries. Direct sales channels offer advantages such as better control over pricing, direct communication with customers, and potentially higher profit margins.

Indirect is the fastest-growing category over the forecast period. It includes selling PCBs and PCBA through intermediaries such as distributors, wholesalers, or retailers. Indirect sales channels can broaden the reach of the products, provide access to new markets, and offer convenience to customers by providing local access points.

• Direct
• Indirect

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion