Electronics/PCB market signals point to steady, segment-skewed growth through 2035, with AI servers, high-speed networking, EV/automotive, medical, 5G/edge, and aerospace/defense leading demand. Rep firms aligned to HDI, flex/rigid‑flex, advanced substrates, and complex assembly stand to outperform in design-in and sourcing cycles.
Market outlook 2025–2035
Future Market Insights projects the PCB market to rise from about USD 70.8B in 2025 to USD 117.5B by 2035 at roughly 5.1% CAGR (Compound Annual Growth Rate), driven by
- Miniaturization
- 5G
- IoT proliferation
- Automotive electronics
- Multilayer, HDI, and flex designs are expanding their share as complexity and density rise.
PCB assembly tracks similarly, with forecasts around mid‑single‑digit CAGR to 2035 as consumer, automotive/EV, medical, and connected devices sustain unit growth and advanced processes increase value per build.
High‑growth subsegments
Rigid‑flex and flex PCB categories are outpacing the broader market due to reliability, packaging, and weight benefits in wearables, medical, aerospace, and compact industrial designs, with multi‑year outlooks showing double‑digit growth in many analyses.
Substrate‑like PCBs (SLP) and other advanced interconnects are expanding quickly alongside high‑speed, high‑layer‑count designs required by AI accelerators, advanced networking, and premium mobile/compute platforms.
AI and data center pull
The rapid expansion of data centers to support AI and cloud computing is significantly changing demand for electronics manufacturing services (EMS) and original design manufacturers (ODM).
As more servers and high-speed networking equipment are needed, manufacturers must provide specialized capabilities to ensure strong signal integrity, effective thermal management, and reliable power delivery. Industry analysts note that generative AI is becoming the key driver for EMS and ODM portfolios in 2025.
This shift is pushing the industry to adopt advanced materials, build circuit boards with more layers, maintain tighter manufacturing tolerances, and strengthen supply chain resilience, especially for leading Tier-1 and Tier-2 EMS providers.
Communications and 5G/edge
The rollout of 5G and upgrades to backbone networks are driving strong demand for routers, switches, base stations, and edge devices.
This increase is boosting electronics manufacturing services (EMS) for cloud and networking hardware, with growth rates expected in the high single digits throughout the decade.
Companies with expertise in radio frequency (RF), high-speed, and low-loss laminate technologies are particularly well-positioned to benefit.
At the same time, the shift toward edge computing and low-latency applications means there’s ongoing pressure for smaller, more thermally efficient PCB and PCBA designs that meet strict compliance and reliability standards.
Automotive/EV resilience
Automotive PCB demand is expected to stay strong, driven by trends like:
- Advanced driver-assistance systems (ADAS)
- Infotainment
- Electrification
- Power electronics.
Forecasts predict steady growth, with compound annual growth rates ranging from the mid-single to high-single digits through 2035.
There’s also a growing preference for advanced technologies such as high-density interconnect (HDI), rigid-flex, and high-temperature circuit boards.
As electric vehicle (EV) platforms evolve, automakers are favoring domestic and regional suppliers who can deliver on compliance, quality, and timely delivery, factors that are often more important than just the lowest price.
Those who understand the total cost and risks involved will have a significant advantage in this market.
Medical, aerospace, and defense
Demand for medical electronics is steadily increasing, driven by the need for advanced imaging systems, patient monitoring devices, and portable diagnostic tools.
These applications require miniaturized and highly reliable interconnect solutions, which is boosting the adoption of flex, rigid-flex, and controlled-impedance assemblies. In the aerospace and defense sectors, demand is rising as well, fueled by growing program backlogs and ongoing modernization efforts.
Here, suppliers with ITAR compliance, traceable supply chains, advanced material capabilities, and reliability certifications are becoming especially important to meet the stringent requirements of high-stakes environments.
Tariffs, reshoring, and supply shifts
Global printed circuit board (PCB) production is projected to increase by about 5.5% in 2025, reaching approximately $85.4 billion.
However, changes in trade policies and tariffs are shifting supply chains, prompting companies to expand manufacturing beyond mainland China to locations like Southeast Asia, Mexico, and the U.S., especially for strategic projects.
The introduction of copper tariffs and other trade measures could lead to higher costs and greater price fluctuations for North American manufacturers.
This makes early planning for materials, seeking alternative suppliers, and working closely with OEMs and EMS on cost-effective designs more crucial than ever.
What this means for us at MaRCTech2
Instead of chasing hyperscale AI/datacenter and big networking programs that are sparse in the Pacific Northwest, MaRCTech2 is focusing on the advanced technology work that does exist locally: higher‑layer, tighter‑tolerance, and more reliable boards for industrial, aerospace/defense, instrumentation, rugged outdoor products, and niche medical and energy applications. This means concentrating on OEMs and EMS that are steadily increasing board complexity and performance demands, even if they are not building servers, switches, or accelerators.
OUR PRIORITY FOCUS:
- Sell to the Pacific Northwest, not the headlines.
- Action: Prioritize industrial, aerospace/defense, instrumentation, rugged outdoor, and niche medical/energy accounts already in the territory, rather than chasing hyperscale AI/datacenter or big-auto programs that are mostly elsewhere.
- Action: Prioritize industrial, aerospace/defense, instrumentation, rugged outdoor, and niche medical/energy accounts already in the territory, rather than chasing hyperscale AI/datacenter or big-auto programs that are mostly elsewhere.
- Be a technology elevator, not just an order taker.
- Action: For every customer, look for one way per quarter to help them improve in technology (more layers, better laminates, HDI, rigid‑flex, improved test/reliability), and bring the factory in early to review stackups, DFM, and risk.
- Action: For every customer, look for one way per quarter to help them improve in technology (more layers, better laminates, HDI, rigid‑flex, improved test/reliability), and bring the factory in early to review stackups, DFM, and risk.
- Think “local engineer + global factory” bridge.
- Action: When a customer’s volume or end-assembly is in Texas, Mexico, or offshore, ensure the MaRCTech2 team serves as a connector that makes it easy: map their local design/proto path to the right factory, define handoffs, and communicate expectations clearly both ways.
- Action: When a customer’s volume or end-assembly is in Texas, Mexico, or offshore, ensure the MaRCTech2 team serves as a connector that makes it easy: map their local design/proto path to the right factory, define handoffs, and communicate expectations clearly both ways.
- Every visit should reduce risk or waste.
- Action: Go into meetings with one or two specific ideas in mind to cut scrap, shorten lead time, or improve field reliability (e.g., via better material choice, design tweaks, or process capability) and back those ideas with examples from MaRCTech2 manufacturers.
Continue in-depth research and monitoring for tariff exposure, copper sensitivity, and lead‑time risk, contrasting regional capacity options and compliance benefits to support TCO‑based decisions.
Global list of PCB market
The list below emphasizes the importance of MaRCTech2 as a resource for PCBs. The improbability of tracking who has what and the complexities involved in meeting specifications stands out. We share the list to show you there are more options available and highlight “we want to be of service.”
Below is a directional estimate of global market shares by company, ordered highest to lowest; figures are approximate and synthesized from multiple industry snapshots and rankings, and should be treated as indicative ranges rather than auditable financial shares. (source link included)
- Zhen Ding Technology (ZDT) ~7–8% rocket-pcb+1
- Unimicron Technology ~6–7% elecrow+1
- Dongshan Precision (DSBJ) ~5–6% wintechpcbassembly+1
- Nippon Mektron (MEKTEC) ~4–5% rocket-pcb+1
- Shennan Circuits (SCC) ~3–4% inkwoodresearch+1
- TTM Technologies ~2–3% wintechpcbassembly+1
- Compeq Manufacturing ~2–3% elecrow+1
- Nan Ya PCB ~2–3% inkwoodresearch+1
- Tripod Technology ~2% pcbasic+1
- WUS Printed Circuit ~1–2% pcdandf+1
- Ibiden ~1–2% pcdandf+1
- HannStar Board ~1–2% inkwoodresearch+1
- AT&S ~1–2% ltcircuit+1
- Kinwong Electronic ~1% cognitivemarketresearch+1
- Ellington Electronics ~1% cognitivemarketresearch+1
- Unitech PCB ~0.8–1% pcdandf+1
- CMK Corporation ~0.8–1% bccresearch+1
- Daeduck Group ~0.8–1% cognitivemarketresearch+1
- Isu Petasys ~0.6–0.9% inkwoodresearch
- Young Poong Electronics ~0.6–0.9% inkwoodresearch
- Meiko Electronics ~0.6–0.9% bccresearch
- Sumitomo Electric/SEI (NOK group context) ~0.5–0.8% bccresearch+1
- Aoshikang ~0.5–0.8% cognitivemarketresearch
- Kingboard related PCB entities (contextual grouping) ~0.5–0.8% bccresearch+1
- Victory Giant Technology (VGT) ~0.5–0.8% pcdandf
- BH Flex ~0.4–0.7% pcdandf
- Gold Circuit (GCE) ~0.4–0.7% circuitsassembly
- Nitto Denko (flex/PCB operations context) ~0.3–0.6% circuitsassembly
- FastPrint (Shenzhen Fastprint) ~0.3–0.6% pcdandf
- Apex Circuit (APEX) ~0.3–0.6% pcdandf
Notes and guidance
- Top five combined are roughly just under one‑third of industry revenue depending on scope and currency normalization, aligning with multiple “top fabricator” roundups and regional tallies.rocket-pcb+1
- Individual shares fluctuate with mix (HDI, flex/rigid‑flex, substrates), program ramps, and currency; use these as planning ranges and cross‑check against the latest revenue disclosures and industry league tables for precise work.
The bottom line
The PCB and PCBA markets are set to grow significantly over the next decade, but this growth will be focused in areas where complexity, compliance, and program importance demand higher value.
Key segments include:
- AI and datacenters
- High-speed networking
- Electric vehicle power systems
- ADAS
- as well as medical and aerospace/defense applications.
Success in these areas will require strong capabilities in HDI, flex and rigid-flex technologies, advanced assembly, and a proactive approach to managing tariffs and material risks.
Our team is committed to leading in these segments by offering expert design support, supply chain insight, and program-focused solutions. By doing so, we aim to build lasting relationships with our principal partners from 2025 through 2035.
