PCBA Market Growth Forecast: $147.5 Billion by 2035

2025-06-27 business

London, Friday, 27 June 2025.
The printed circuit board assembly market is projected to grow significantly, attributed to increased demand in automotive and consumer electronics sectors, reaching $147.5 billion by 2035.

Market Dynamics and Trends

The projected growth of the Printed Circuit Board Assembly (PCBA) market to $147.5 billion by 2035 reflects robust demand across multiple sectors. Key drivers include the acceleration of consumer electronics and smart devices, expansion of automotive electronics and electric vehicles, 5G network deployment, and increasing adoption of IoT and connected devices [1]. These technological advancements are reshaping manufacturing strategies with a focus on automated assembly processes, sustainable practices, and the development of high-density interconnect solutions. Furthermore, the Surface Mount Technology (SMT) segment is forecast to dominate the market in 2025, capturing approximately 75% of market share, underscoring its importance in high-volume, cost-effective production [1].

Regional Insights and Competitive Landscape

The Asia-Pacific region is predicted to lead the PCBA market in 2025, with over 60% of market share, driven by its expansive manufacturing capabilities and escalating electronics demand [1]. This region’s growth trajectory is bolstered by a projected CAGR of 5.1% from 2025 to 2035 [2]. North America, recognized for its technological leadership, and Europe, noted for engineering excellence, are also significant players. In Europe, the emphasis on electrification and technological innovation contributes substantially to the growing PCBA market [3]. Leading companies such as Hon Hai Precision Industry Co., Ltd., Flex Ltd., and Jabil Inc. are pivotal in steering market advancements through strategic partnerships and technology investments [1].

Sector-Specific Impacts and Opportunities

Within the automotive sector, the Printed Circuit Board market is expected to evolve significantly, increasing from USD 10.38 billion in 2024 to approximately USD 18.14 billion by 2034 [2]. This growth aligns with the sector’s transition to smarter, safer, and more sustainable vehicles, articulated through rising demands for electric vehicles and advanced driver-assistance systems (ADAS) [4]. The automotive segment is anticipated to witness the highest growth rate among sub-segments due to these technological advancements. Additionally, the trend toward Industry 4.0 applications and AI hardware in PCBA manufacturing presents new opportunities for innovation and operational efficiency [5].

Implications for European Electronics Sector

For the European electronics sector, the burgeoning PCBA market facilitates advancements in consumer electronics, automotive technologies, and medical devices. As Europe strives to maintain its competitive edge in global technology, embracing PCBA’s evolving landscape could lead to enhanced manufacturing capabilities and product offerings. This growth potential is underpinned by strategic initiatives towards electrification and networking, catalyzing industry transformation and offering actionable insights for decision-makers across the region [3].

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PCBA market electronics growth