Published Date : 30 Oct 2023
The MEA printed circuit board market revenue was evaluated at USD 2.47 billion in 2022 and is expected to attain around USD 3.60 billion by 2032, growing at a CAGR of 3.9% from 2023 to 2032.
The growth of the PCB market in MEA is the rapid urbanization and industrialization in the region. The MEA region is undergoing significant economic development and infrastructure expansion, resulting in increased demand for electronic devices such as smartphones, computers, consumer electronics, and automotive electronics. PCBs are integral components in these devices, and as the demand for electronic devices increases, so does the demand for PCBs in MEA.
Governments in the MEA region are also implementing policies to promote local content requirements in the electronics manufacturing industry, including PCB manufacturing. These policies aim to increase local production and reduce dependence on imports, thereby fostering the growth of domestic PCB manufacturing capabilities. Such policies may include preferential treatment in government procurement, tax incentives, and other measures to support local manufacturers.
MEA Printed Circuit Board Market Report Scope:
|Market Revenue in 2023||USD 2.55 Billion|
|Projected Forecast Revenue by 2032||USD 3.6 Billion|
|Growth Rate from 2023 to 2032||CAGR of 3.9%|
|Forecast Period||2023 to 2032|
Aerospace and defense
The aerospace and defense sector in the MEA region is witnessing significant growth, with increasing investments in defense and aerospace capabilities. PCBs are used in a wide range of applications in aerospace and defense, including communication systems, avionics, radar systems, and electronic warfare. The growing aerospace and defense industry in the MEA region is driving the demand for high-performance PCBs.
Increasing worldwide awareness regarding environmental concerns like electronic waste management and hazardous materials used in PCB manufacturing has led to the implementation of strict environmental regulations in various countries. Compliance with the regulations requires additional investment in equipment, processes, and certifications which poses a hurdle for the PCB manufacturers in the MEA region, especially for medium and small-sized enterprises with limited resources.
The single-sided PCBs are anticipated to expand at a remarkable rate from 2023 to 2032. These PCBs comprise a single layer of base material in which a conductive wire is connected to one side and conductive copper and components are placed on the other side. Single-sided PCBs are mainly used in industries such as consumer electronics, healthcare, industrial electronics, aerospace & defense, IT and telecom, automotive, and others.
The automotive electronics sector is anticipated to grow at the fastest CAGR from 2023 to 2032. The automotive industry in the MEA region is also growing rapidly, with increased vehicle production and technological advancements in vehicles. Modern vehicles incorporate a wide range of electronic systems for safety, infotainment, and connectivity, which require PCBs for their operation. The increasing adoption of electric vehicles (EVs) in the MEA region is further driving the demand for PCBs in automotive electronics.
Industrial electronics is anticipated to grow at a remarkable CAGR from 2023 to 2032. The industrial sector in the MEA region is expanding, with increased investments in infrastructure, manufacturing, and automation. Industrial electronics, including control systems, sensors, and monitoring devices, heavily rely on PCBs for their functioning. They are used to avoid mishaps during the production process. The growth of the industrial sector in the MEA region is driving the demand for PCBs in industrial electronics applications.
Flexible printed circuit boards are anticipated to expand at the fastest CAGR from 2023 to 2032. Flexible printed circuit boards are effective interconnectivity solutions that are applied to various electronic devices. They consist of traces of conductive materials on a flexible substrate. Flexible printed circuits avoid complex structuring of connections and wiring. They are mostly used for effective interconnection between electronic components such as capacitors, resistors, and integrated circuits. Furthermore, the rising demand for small electronic gadgets which are used in everyday life like smartphones, tablets, laptops, and wearables such as smartwatches is propelling the market. The fast-developing telecom and IT sectors are expected to propel market growth.
Segments Covered in the Report
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