There is a discernible demand influx in the mobile industry, which is evident from the soaring sales of smartphones in the countries of Europe, which in turn has led to growth prospects for the European printed circuit board market. The European printed circuit board market is poised to attain a lucrative market value of $2,981.28m by the end of 2023 as the demand will increase at a compound annual growth rate (CAGR) of 1.6% during the forecast period 2018--2023, according to the market analysis done by IndustryARC analysts.
The European printed circuit board market research report provides thorough scrutiny of the market along with facts, figures, and statistics that will provide an in-depth knowledge of the market dynamics including opportunities, trends, and challenges. Furthermore, the report digs deep into the disruptive forces in the market and geographical analysis, which will help identify the most lucrative European printed circuit board marketplaces. The report is titled “European Printed Circuit Board Market: By Type (Single-Sided, Double-Sided, Multilayer, Flexible); By Component (Resistors, Capacitors, Transistors, Others); By Application (Aerospace & Defense, Automotive, Consumer Electronics, Industrial Electronics, Others); & By Geography – Forecast (2018-2023).”
European Printed Circuit Board Market: Leading Segments
In terms of revenue, Germany held the maximum share of the European printed circuit board market in 2017, generating $997.04m in revenue in 2017. The country is projected to observe relatively higher growth than other countries in Europe over the forecast period. This is attributable to the fact that Germany is the fourth largest manufacturer of electronics products in the world. Furthermore, the infrastructure available in the country for the production of automobiles, and industrial and medical electronics would further augment Germany printed circuit board market.
The European printed circuit board market is segmented on the basis of types, which include rigid 1-2 sided, standard multilayer, HDI/Microvia/Build-up, IC substrate, flexible circuits, and rigid flex. Even though the standard multilayer printed circuit board segment generated a higher revenue of $1184.91m in 2017, the demand for HDI boards is estimated to observe an increment over the forecast period owing to their increased applications in the latest phones.
European Printed Circuit Board Market: Trends and Growth Drivers
· Soaring Sales of Consumer Electronics in Europe –
The proliferation of digitization and innovations in the electronics industry have surged the sales of consumer electronics in Europe. Printed circuit boards are important elements of consumer electronics products. The growth of the consumer electronics sector will support the vendors in the European printed circuit board market.
· The Usage of Telecommunication Products & Influence of Internet of Things (IoT) –
The number of interconnected devices is increasing owing to the advent of IoT, which has enabled residents to do chores on the go. There is an appreciable rise in the number of products that are integrated through IoT. This is significantly generating revenues in the European printed circuit board market.
European Printed Circuit Board Market: Competitive Landscape
Some of the key companies identified in the European printed circuit board market report that are striving to stay ahead of the curve are Fineline Ltd., ICAPE Group, NCAB Group Corporation, PreventPCB SRL., Schweizer Electronic AG., Wurth Elektronik GmbH & Co. KG., AT & S Austria Technologies & Systemtechnik AG., Dyconex AG., Somacis, Cirexx International Inc., Circuits Interconnection Assemblies Ltd., AKA PCB D.O.O., and KCS SRL.
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