India Printed Circuit Board (PCB) Market Size, Growth & Share 2025-2033

The Indian Printed Circuit Board (PCB) market is witnessing unprecedented growth, driven by advancements in technology, increased electronics manufacturing, and rising demand for consumer electronics. In 2023, the market was valued at USD 4.53 billion, and it is projected to grow at a remarkable Compound Annual Growth Rate (CAGR) of 18.1%, reaching nearly USD 20.17 billion by 2032. This blog explores the market’s overview, size, trends, growth drivers, and future prospects.

India Printed Circuit Board (PCB) Market Overview

The India Printed Circuit Board (PCB) market is a rapidly expanding segment within the electronics manufacturing industry, driven by the increasing demand for electronic devices across various sectors. PCBs form the backbone of modern electronic devices, facilitating the integration and functionality of components in industries such as consumer electronics, automotive, telecommunications, healthcare, and industrial automation.

Key Drivers

Rising Electronics Manufacturing: India’s push for self-reliance in electronics manufacturing through initiatives like “Make in India” and the Production Linked Incentive (PLI) scheme has boosted domestic PCB production.

Technological Advancements: The emergence of 5G, IoT, and AI technologies has escalated the demand for sophisticated PCBs with high-density interconnects and advanced materials.

Automotive Electrification: The growing electric vehicle (EV) industry is driving demand for PCBs in battery management systems, inverters, and other automotive electronics.

India Printed Circuit Board (PCB) Market Size

The Indian PCB market reached USD 4.53 billion in 2023, underpinned by rapid industrialization, a booming electronics manufacturing sector, and increased investments in domestic PCB production. With rising adoption of smart devices and IoT applications, the market size is poised to expand significantly, creating new opportunities for manufacturers and investors.

India Printed Circuit Board (PCB) Market Trends

Several key trends are shaping the Indian PCB market:

Adoption of Advanced Technologies: With the rise of IoT, AI, and 5G, demand for sophisticated PCBs with advanced design capabilities is increasing.

Localization of Manufacturing: Initiatives to reduce import dependency and encourage local production are boosting domestic PCB manufacturing.

Green PCBs: The focus on eco-friendly materials and sustainable production methods is gaining traction among manufacturers.

Miniaturization: Growing consumer demand for compact and lightweight electronic devices is driving innovations in PCB design.

India Printed Circuit Board (PCB) Market Segmentation

Manufacturing Type
Bare PCBs
Populated PCBs

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

Number of Layers
Single-Sided
Double-Sided
Multi-Layer

Type
Rigid PCBs
Flexible PCBs

Laminate Type
FR-4
Polyamide
CEM-1
Paper
Others

Application
Consumer Electronics
Communication
Industrial Electronics
Computers
Military and Aerospace
Automotive
Medical Instrumentation

Get a Free Sample Report with a Table of Contents

India Printed Circuit Board (PCB) Market Growth

Increasing Electronics Demand: Growing adoption of consumer electronics like smartphones, laptops, and wearables is driving PCB demand in India.

Government Initiatives: Programs like “Make in India” and the Production Linked Incentive (PLI) scheme promote domestic PCB manufacturing and reduce import dependency.

Telecommunication Expansion: Rapid rollout of 5G technology boosts demand for advanced PCBs in communication devices and infrastructure.

Automotive Electrification: The rise of electric vehicles (EVs) has created a surge in demand for PCBs in battery management systems and automotive electronics.

Industrial Automation: Increased use of IoT devices, robotics, and smart systems in industries fuels PCB adoption.

Healthcare Electronics: Growth in medical devices and healthcare equipment manufacturing is a key driver for the PCB market.

India Printed Circuit Board (PCB) Market Forecast

The Indian PCB market is forecasted to grow at an impressive CAGR of 18.1% from 2024 to 2032, reaching USD 20.17 billion by 2032. Factors such as increased investments in infrastructure, rising demand for electric vehicles, and advancements in PCB technology will contribute to this growth. The market is also expected to benefit from collaborations and partnerships between domestic and global players.

Competitor Analysis

Epitome Components Ltd.: A leader in PCB manufacturing, offering a wide range of products, including single-sided and multilayer PCBs.

Shogini Technoarts Pvt. Ltd.: Known for its specialization in high-quality PCBs for various applications, including automotive and industrial electronics.

India Circuit Ltd.: A prominent player focusing on innovation and customization in PCB production.

Hi-Q Electronics Pvt. Ltd.: Renowned for its precision and high-reliability PCB manufacturing capabilities.

Genus Electrotech Ltd.: A significant contributor to India’s PCB exports, emphasizing advanced technologies and sustainable practices.

Others: Numerous regional players and niche manufacturers add to the competitive landscape by offering specialized solutions.

Media Contact: