PCB Manufacturing Equipment Market Size & Growth Analysis to 2030

The global PCB (Printed Circuit Board) manufacturing equipment market size is anticipated to register a significant CAGR of around 6% during the forecast period from 2023 to 2030. The market is driven by factors such as the growing electronics industry, miniaturization, and complexity of electronic devices, increasing adoption of IoT and connected devices, advancements in automotive electronics, technological innovations, government initiatives, emerging markets, sustainable manufacturing practices, and research and development efforts. These factors contribute to the demand for advanced equipment that can produce high-density and complex PCBs, support the production of connected devices, meet industry regulations, and drive efficiency in the manufacturing process. The market’s growth is fueled by the need to cater to the expanding electronics industry and stay ahead in the rapidly evolving technological landscape.

Market Snapshot:

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Market Drivers:

Growing Electronics Industry: The increasing demand for electronic devices and advancements in technology are driving the growth of the electronics industry. This, in turn, fuels the demand for PCB manufacturing equipment as PCBs are essential components in electronic devices.

Miniaturization and Complexity of Electronic Devices: With the trend toward smaller and more compact electronic devices, there is a need for PCBs with higher circuit density and complexity. This drives the demand for advanced PCB manufacturing equipment capable of producing high-density interconnect (HDI) boards, multilayer PCBs, flexible PCBs, and rigid-flex PCBs.

Increasing Adoption of IoT and Connected Devices: The Internet of Things (IoT) is driving the proliferation of connected devices across various industries. These devices require PCBs to enable connectivity and functionality. The growth of IoT contributes to the demand for PCB manufacturing equipment.

Automotive Electronics: The automotive industry is witnessing significant advancements in electronic systems and components. Modern vehicles incorporate a wide range of electronic features, including advanced driver-assistance systems (ADAS), infotainment systems, and electric vehicle components. This leads to increased demand for PCBs and, consequently, PCB manufacturing equipment.

Technological Advancements: Innovations in PCB manufacturing equipment, such as automated systems, precision drilling machines, advanced imaging and exposure systems, and high-speed PCB testing equipment, are driving the market. These advancements improve productivity, accuracy, and efficiency in the PCB manufacturing process.

Government Initiatives and Regulations: Governments worldwide are implementing regulations to promote local manufacturing and support the electronics industry. Incentives, tax benefits, and favorable policies encourage investments in PCB manufacturing equipment, leading to market growth.

Emerging Markets: Developing economies, especially in Asia-Pacific, are witnessing rapid industrialization and infrastructure development. These regions offer substantial growth potential for the electronics industry, driving the demand for PCB manufacturing equipment.

Increased Focus on Sustainable Manufacturing: Environmental concerns and regulations promote the adoption of sustainable manufacturing practices, including the use of eco-friendly materials and energy-efficient equipment. PCB manufacturing equipment that supports sustainable practices and reduces environmental impact is gaining traction in the market.

Research and Development: Ongoing research and development efforts to enhance PCB manufacturing processes, improve equipment performance, and develop new technologies contribute to market growth. Advancements such as additive manufacturing (3D printing) for PCBs are expected to shape the future of the industry.

Market Insights:

Market Analysis by Equipment Type:

The global PCB manufacturing equipment market is bifurcated into equipment type, application, end-user, and geography. On the basis of Equipment Type, the market is further segmented into PCB drilling machines, PCB imaging and exposure systems, PCB plating equipment, PCB testing and inspection systems, PCB routing machines, and others. The dominant segment in the market is often the PCB drilling machines segment. These machines play a critical role in the fabrication process by drilling precise holes in PCBs, which are essential for component insertion and interconnections. The high demand for drilled PCBs across various industries, coupled with technological advancements in drilling machines for improved precision and automation, contributes to the dominance of this segment. Additionally, the adoption of advanced PCB technologies like HDI boards and rigid-flex PCBs further strengthens the prominence of the drilling machine segment.

PCB Drilling Machines: These machines are used for drilling holes in the PCB to accommodate component leads or facilitate interconnections. They play a crucial role in the PCB fabrication process, ensuring precise and accurate hole drilling.

PCB Imaging and Exposure Systems: These systems are used to transfer the circuit design onto the PCB. They utilize imaging techniques such as photolithography to create precise patterns and traces on the PCB surface.

PCB Plating Equipment: This equipment is employed for applying conductive layers and performing plating processes on the PCB. Plating equipment helps create the required conductive pathways and ensures proper adhesion of the metal layers.

PCB Testing and Inspection Systems: These systems are designed to test and inspect the quality, functionality, and reliability of PCBs. They perform various tests such as continuity checks, impedance measurements, and functional testing to ensure the PCBs meet quality standards.

PCB Routing Machines: Routing machines are used to cut and shape PCBs. They are employed to separate the individual PCBs from a larger panel or to create complex shapes and contours within the PCBs.

Other Equipment: This category includes additional equipment used in the PCB manufacturing process, such as soldering equipment, pick-and-place machines, automated optical inspection (AOI) systems, and conformal coating machines. These machines and systems contribute to the overall efficiency and automation of the PCB manufacturing process.

Market Analysis by Application:

On the basis of application, the market is further segmented into consumer electronics, automotive electronics, industrial electronics, aerospace and defense electronics, and healthcare electronics. The dominant segment in the PCB manufacturing equipment market by application is typically the consumer electronics segment. This segment holds prominence due to several factors. The consumer electronics industry has a large market size and encompasses a wide range of devices like smartphones, tablets, and laptops that require PCBs. Secondly, the industry is characterized by rapid technological advancements, leading to constant demand for upgraded models and PCBs. Thirdly, the consumer electronics sector often requires high-volume production to meet market demands, necessitating efficient PCB manufacturing equipment. Lastly, with the trend toward miniaturization and high-density circuitry in consumer devices, advanced equipment capable of producing complex PCBs is crucial.

Consumer Electronics: The consumer electronics segment encompasses a wide range of electronic devices such as smartphones, tablets, laptops, gaming consoles, and home appliances. PCBs are integral components in these devices, driving the demand for PCB manufacturing equipment.

Automotive Electronics: The automotive industry relies heavily on electronics for various applications, including engine control units, infotainment systems, advanced driver-assistance systems (ADAS), and electric vehicle components. The automotive electronics sector generates significant demand for PCBs and, consequently, PCB manufacturing equipment.

Industrial Electronics: Industrial machinery, automation systems, robotics, and control systems heavily depend on PCBs for efficient operations. The industrial electronics segment requires PCBs with high reliability, temperature resistance, and durability, leading to the demand for specialized PCB manufacturing equipment.

Aerospace and Defense Electronics: The aerospace and defense sector relies on PCBs for critical applications such as avionics systems, communication equipment, radar systems, and defense electronics. The stringent quality and reliability requirements of these industries drive the need for advanced PCB manufacturing equipment.

Healthcare Electronics: Medical devices and equipment require PCBs for various healthcare applications, including diagnostic systems, patient monitoring devices, imaging equipment, and implantable medical devices. The healthcare electronics segment contributes to the demand for PCB manufacturing equipment that meets specific regulatory and quality standards.

The PCB manufacturing equipment market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Equipment Type:

• PCB Drilling Machines
• PCB Imaging and Exposure Systems
• PCB Plating Equipment
• PCB Testing and Inspection Systems
• PCB Routing Machines
• Others

By Application:

• Consumer Electronics
• Automotive Electronics
• Industrial Electronics
• Aerospace and Defense Electronics
• Healthcare Electronics

By End-User:

• PCB Manufacturers
• Electronic Manufacturing Services (EMS) Providers
• Original Equipment Manufacturers (OEMs)

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

The dominant region in the PCB (Printed Circuit Board) manufacturing equipment market is generally recognized as Asia-Pacific due to several compelling factors. The Asia-Pacific has established itself as a major manufacturing hub, with countries like China, South Korea, Japan, and Taiwan leading the way. These countries have a robust electronics industry and are home to numerous PCB manufacturers and electronics manufacturers. The high volume of electronics production in the region drives the demand for PCB manufacturing equipment.

Asia-Pacific boasts a large and growing consumer electronics market. The region’s vast population, increasing urbanization, and rising disposable income contribute to the strong demand for electronic devices such as smartphones, televisions, and home appliances. This sustained demand drives the need for PCBs and the associated manufacturing equipment. Furthermore, Asia-Pacific has been at the forefront of technological advancements in the electronics industry. Japan and South Korea, in particular, are known for their expertise in electronics and PCB manufacturing technologies. These countries invest heavily in research and development, driving the adoption of advanced PCB manufacturing equipment and processes.

Competitive Assessment:

Some of the major market players operating in the global PCB manufacturing equipment market are ASM Pacific Technology Ltd., Orbotech (now part of KLA Corporation), Nordson Corporation, Mycronic AB, Tokyo Electron Limited, and Hitachi High-Tech Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Notable Product Launched:

Orbotech Quantum™ AOI – Orbotech (now part of KLA Corporation) introduced the Orbotech Quantum™ Automated Optical Inspection (AOI) system. It offers advanced inspection capabilities, including high-speed and high-resolution imaging, to ensure accurate PCB quality control.

Nordson SELECT Integra™ 508.5 Selective Soldering System – Nordson SELECT launched the Integra™ 508.5 Selective Soldering System. It incorporates advanced features like closed-loop process controls, high-speed drop-jet fluxing, and dual solder pot technology for efficient and reliable selective soldering.

Viscom S3088 DT – Viscom AG unveiled the S3088 DT, a dual-track 3D AOI system. It combines high-speed inspection with 3D measurement capabilities for precise and comprehensive PCB inspection.

Mycronic MYPro Line – Mycronic introduced the MYPro Line, a complete solution for advanced and high-volume PCB assembly. It integrates jet printing, component placement, and conformal coating into a single production line.

TAKAYA APT-1500F Flying Probe Tester – TAKAYA introduced the APT-1500F Flying Probe Tester, designed for high-speed, high-accuracy PCB testing. It incorporates advanced probing technology to ensure efficient and reliable testing of complex PCBs.

Yamaha YST15 Modular Mounter – Yamaha Motor Co. launched the YST15 Modular Mounter, a flexible and high-speed pick-and-place machine. It offers versatility in component handling and is suitable for a wide range of PCB assembly applications.

Key Companies:

• ASM Pacific Technology Ltd.
• Orbotech (now part of KLA Corporation)
• Nordson Corporation
• Mycronic AB
• Tokyo Electron Limited
• Hitachi High-Tech Corporation
• KLA Corporation
• Viscom AG
• CyberOptics Corporation
• Teradyne Inc.
• Koh Young Technology Inc.
• Fuji Machine Manufacturing Co., Ltd.

Key Questions Answered by PCB Manufacturing Equipment Market Report

• Global PCB manufacturing equipment market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• PCB manufacturing equipment submarket forecasts from 2023-2030 covering the market by equipment type, application, end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level PCB manufacturing equipment markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market