Europe Printed Circuit Board Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 15, 2021 by Statzyreports

The Europe Printed Circuit Board Market was valued at USD 1872.8 million in 2020, and it is expected to reach USD 2049.11 million by 2026, registering a CAGR of 1.53% during the period (2021 - 2026).
 
The printed circuit board (PCB) industry experienced rapid growth in the last few years, primarily owing to the continuous development of consumer electronics devices and increasing demand for PCBs in all electronics and electrical equipment.

- The Internet of Things (IoT) is providing new opportunities to the manufacturers of consumer electronics, wearable devices, such as smartwatches that incorporate chips and flexible sensors. Breakthrough in designing these devices and manufacturing technology may have a great impact on the PCB market. The number of systems connected over the internet expanded in the region over the past decade.

- Europe is responsible for nearly 40% of the global IoT market, accounting for about 20 billion connections by 2020, of about 6 billion in Europe. Europe is expected to account for more than a third of global Industrial IoT investments by 2020, the market in the region is expected to grow at an impressive average annual rate of more than 22%, reaching a value of EUR 287 billion in 2020, and Industrial IoT is Europe’s largest IoT market (CBI, Ministry of Foreign Affairs).

- According to Growth Enabler, the United Kingdom has over 40 million connected IoT devices, and the number is expected to grow as investments in IoT are expected to reach GBP 81 billion, creating 67,000 jobs by 2020. Furthermore, the region is expected to posses the most advanced internet, infrastructure, and innovation focus, primarily for IoT related applications and manufacturing.

- The current experience of multiple industries during the region’s lockdown, owing to the coronavirus pandemic, showed manufacturers the importance of the need to run operations remotely, irrespective of the staff location, and for uninterrupted communications with customers and suppliers. This understanding is expected to drive the demand for PCBs after the lockdown ends.

Free Sample report for this report is available :- https://www.statzyreports.com/report/sr497560/europe-printed-circuit-board-market

Key Market Trends

Automotive Segment is Expected to Hold Significant Market Share

- The market demand for PCBs in the European Automotive industry is mainly being driven by the adoption of several technologies, like ADAS systems. Over the last decade, the E.U. institutions have played an active role in promoting ADAS policy and research.

- Moreover, according to the European Free Trade Association (EFTA), registrations of electric cars in Europe jumped 57.4% in the first quarter of 2020. As the electric vehicles primarily constitute motor controller circuitry built on PCBs, it is further expected to drive their demand in the foreseen period.

- Further, several market incumbents are forming strategic partnerships to incorporate UWB technologies, thus positively impacting the demand growth of PCBs in the sector. For instance, in August 2019, NXP Semiconductors N.V. and Volkswagen collaborated to implement Ultra-Wideband (UWB) technology and further study its future applications. In a Volkswagen concept car, the companies showed the capabilities of Ultra-Wideband for advancing security, safety, and convenience in vehicles.

Healthcare Segment to Witness Significant Growth

- With the healthcare sector witnessing advanced inventions, like wearables, board cameras, and blood pressure monitors, the PCBs used in their circuitry, help by subsequently giving an accurate data for diagnosis, health stats of patients, and keeping up with health progress or emerging health issues.

- Through applications, like Polar Grit X, which help doctors keep a tab on their patient's health, the major component of these devices is PCBs. Therefore, PCBs are significantly contributing to the European healthcare industry, making the creation of these medical devices highly possible.

- Moreover, the Magnetic Resonance Imaging (MRI) scanning equipment demand in the European healthcare
sector is further propelling the demand for PCBs in the industry. The MRI Scanning equipment is manufactured with electronic circuits consisting of Analog to Digital Converter (ADC), Digital to Analog converter (DAC), RF modulators, and Synthesizers that are usually integrated on PCBs. For instance, Germany-based Siemens AG manufactures Siemens Symphony MRI scanner, which uses GPA CPU D16 Printed Circuit Board (PCB) in its internal circuitry.

Competitive Landscape

The Europe Printed Circuit Board Market is highly competitive owing to the presence of multiple players in the market. The market appears to be moderately concentrated with the major players adopting strategies such as product innovation, mergers, and acquisitions in order to increase the performance of their product and stay competitive in the market. Some of the major players in the market are Jabil Inc., Aspocomp Group PLC, Benchmark Electronics Inc., among others.

- Jun 2020 - The company received a total of EUR 1.35 million as a part of development support from the ELY Center for the implementation of the second phase of its Oulu plant. The company planned to increase the capacity, improve automation, and increase the production efficiency of the Oulu plant.

- Jan 2020 - Rohde & Schwarz signed a strategic agreement with Benchmark Electronics Inc. to increase its manufacturing capabilities. This agreement is expected to help Rohde & Schwarz to quickly and reliably meet the increasing demand for its products.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit : https://www.statzyreports.com/report/sr497560/europe-printed-circuit-board-market

Contact Us:
Poojan Dogra
Public Relations Manager
Email : [email protected]
Email : [email protected]
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Statzy Market Research
Country India
Categories Electronics , Semiconductors
Tags europe printed circuit board market , europe printed circuit board market forecast , europe printed circuit board market share , europe printed circuit board market size
Last Updated April 15, 2021