Govt. encourages PCB manufacturing
The Indian Printed Circuit Board (PCB) market is projected to enjoy a strong 17.9% CAGR during 2019-24 with a turnover of US$6.33 billion by 2024.
It was worth US$2.37 billion in 2018, said ResearchAndMarkets report “Indian PCB Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” which was released 28 June 2019.
Over the past few years, the demand for PCBs in India has witnessed a steady rise on account of increasing investment in digitization and favorable government initiatives.
India represents one of the largest and fastest growing consumer electronics market in the Asia Pacific region, noted the report.
Computers, laptops, mobile phones, etc. often use rigid PCBs in areas vital to the functionality of these devices, such as the motherboard, thereby creating a positive impact on the growth of the PCB industry.
The advancements made in the PCB functionalities and manufacturing along with the miniaturisation of semiconductor devices are expected to drive the demand for more complex PCBs with higher number of layers.
The Government is strongly encouraging the manufacturing and usage of PCBs in the country.
It has launched many initiatives such as Make in India, Digital India, etc. Under these schemes, the government aims to encourage manufacturers to set up more local plants in the country by easing tax regime, reducing bureaucratic hurdles, etc.
This is expected to bring in significant achievement in various end-use industries (automotive, electrical, etc.), thereby creating a positive impact on the overall PCB demand.
PCBs are the backbone of the electronics industry as it is deployed in almost all the electronic products from consumer gadgets to industrial high-tech products.
The Indian electronic devices market has witnessed double-digit growth rates driven by rising disposable incomes and increasing urbanisation levels in the country.
This, coupled with miniaturisation of semiconductor devices and enhanced functionality in electronic products, is expected to drive the demand for more complex PCBs in the near future.
PCBs represent a fundamental component for the manufacturing of devices which are required for military navigation, guidance and control, electronic warfare, missiles and surveillance, and communication.
India currently has the 5th largest defense budget in the world and these figures are expected to increase continuously over the next five years, the report pointed out.
Moreover, catalyzed by rising demand and increasing government initiatives, the defense equipment manufacturing industry in the country is also undergoing strong growth.
This is also expected to drive the demand of PCBs in the next five years.
The report highlighted key players role in the industry. These are: AT&S, Epitome Components Ltd, Shogini Technoarts, Cipsa Tec India Pvt Ltd, Sulakshana Circuits Ltd, PCB Power Limited, Hi-Q Electronics Pvt Ltd,
Vintek Circuit India Pvt Ltd, India Circuit Ltd (Garg Electronics) and Meena Circuit Pvt Ltd. fiinews.com
