Technological Advancements Such as Artificial Intelligence or IOT Are Anticipated to Boost the European Printed Circuit Board Market

Technological Advancements Such as Artificial Intelligence (AI) or IoT are Anticipated To Boost the Europe PCB Market During the Forecast Period 2021-2026. European Printed Circuit Board market is analyzed to grow at a CAGR of 2.02% during the forecast period 2021-2026 to reach $17952.02 million.

With the shift towards miniaturization, chip manufacturers find it difficult in designing, testing as well as manufacturing of printed circuit boards due to placement of small sized electronic components. Incorporating advanced technologies like AI or IoT helps in creating a significant impact on the Europe PCB market owing to customization, reduced assembling time, accurate placements and many others.

Technological advancements like artificial intelligence (AI) or IoT can be considered as one of the major driving factors for the Europe PCB market. Leveraging advanced technologies like AI or IoT acts beneficial for the chip manufacturers while designing, verification along with testing of PCBs at comparatively lower costs within shorter time intervals. Utilization of AI technology helps in determining placement of components more accurately and precisely, thus improving board performance alongside reducing assembling time, as in conventional ones. Due to significant demand towards compact sized PCB designs owing to smaller circuitry board needs, there is wider adoption of AI by the manufacturers to offer a higher degree of accuracy during smaller component placement. However, utilization of such advanced technologies helps in providing customization benefits, optimum power efficiency and many others. In 2021, Novocomms had launched a flexible printed circuit board antenna, FPCB LTE 4G, as an addition to their patented multi-channel antennas particularly for Internet of Things (IoT) sector. This development was done to offer a fully customizable cable which can be easily adapted for responding towards low, mid or high bands, while serving rising demands for IoT devices particularly across medical sector. In 2019, InstaDeep, a U.K based company had introduced PCB router, DeepPCB, which is a fully automated, cloud native product. This fully scalable PCB router utilizes AI for delivering faster results at free or limited cost. This was done to help end use customers upload their own board designs, alongside accelerating customer development cycles, thereby making it a customizable option. Such advancements towards developing or designing of PCBs through leveraging advanced technologies including AI and IoT are set to create new opportunities in the Europe PCB market in the long run.

Germany holds a major share in Europe PCB market owing to presence of some of the key market vendors, including Schweizer Electronik AG, Wurth Electronik GmbH & Co. KG and many others. Rising investments towards autonomous or electric vehicles, growing demand towards consumer electronic products and others can be considered as some of the major factors which had attributed towards this market growth within the country. Growing demand towards medical equipment or devices along with investments towards semiconductor chip manufacturing facilities is further set to create new opportunities for the PCB market. In 2020, German government had revealed about placing several orders with various manufacturers within a short notice in order to ensure optimum supply of medical ventilators useful for COVID-19 patients within the country. Owing to requirement of rapid manufacturing of intensive care and mobile ventilators within the country, Wurth Electronik announced about supplying PCBs from its Germany based production sites to help in mass production. In 2021, Ford had revealed about its plans of investing about $1 billion for building a new electric vehicle manufacturing facility within Cologne, Germany. This initiative was taken as a part of transforming existing vehicle assembly operations alongside raising the production of electric passenger vehicles for its European customers, expected to be completed by 2023. Such factors are analyzed to propel the need towards PCB components for serving automotive applications be it ADAS systems, battery power systems, video or audio systems and others in the long run.

Europe PCB Market Growth Drivers:

Rising rate of investments towards boosting the healthcare sector across Europe

Rising rate of investments towards boosting European healthcare sector can be considered one of the major factors driving the growth of Europe PCB market. Surgical equipments, MRI machines, CT Scanners, heart monitors, intensive care unit ventilators and so on are some of the widely used applications deploying printed circuit boards comprising of sensors, resistors, integrated circuits and so on. Healthcare sector had been advancing at a rapid pace, creating significant adoption of wearables, blood pressure monitors and so on which incorporate PCB within its electronic circuitry. Additionally, factors like growing demand towards MRI scanning equipment tends to grow within the European healthcare sector due to availability of portable or mobile MRI scanners from various vendors like Siemens AG and others, which also helps in aiding the need for PCB circuitry. In 2020, an Ireland based medical device company announced about its plans of doubling its production capacity of ventilators, which was already increased earlier by 40% amidst the global COVID-19 pandemic situation. This move was taken in order to supply ventilators due to growing demands triggered by pandemic surge. Since PCB acts as an integral part of circuitry within the ventilators, rise in manufacturing processes have attributed towards its market growth within the country. Governmental investments towards boosting the medical sector through investments can also help in driving the need for various medical equipments, positively impacting the growth of PCB. In 2020, the European Commission had revealed about its plans of increasing its annual investment of €413 million (around $501.8 million) to €9.5 billion (around $0.6 billion) for the healthcare sector. This investment will be used for updating existing hospital equipment within Europe, thus impacting the need towards PCB within various medical device applications. Such governmental initiatives towards boosting the medical sector can further help in creating a positive impact towards the adoption of PCBs in the long run.

Growing shift towards electric vehicles in Europe

Growing shift towards electric vehicles in European countries acts as one of the major driving factors impacting the growth of PCB market. With the aim towards supporting electrically powered cars or vehicles across various European countries, demand for PCBs tend to rise while serving demanding automotive applications. Development of electric or autonomous vehicles involves the need for PCBs in applications be it ADAS systems, infotainment systems, battery control systems as well as other intelligent devices. Since PCBs help in optimizing driving efficiency or battery management systems, thus making it one of the vital factors for its adoption within electric vehicles. Additionally, in electric vehicles, there is significant utilization of sensors, transmitters, diodes and many others, which require precised and accurate control for optimizing safety standards, reducing excessive battery consumption with others, while affecting the need for PCBs. According to European Automobile Manufacturers Association, hybrid electric vehicles contributed to 18.4% of total passenger car sales in the EU, reflecting the growing demand towards electrically chargeable cars. Since the electric vehicles constitute of motor controller circuitry which are built on PCBs, this increasing growth within European Union is further set to drive the need for automotive PCBs in the long run. In 2019, European governments announced about forming an alliance with companies in order to develop next-generation batteries for electric vehicles with an investment of around 5-6 billion Euros (USD 6.7 billion). This move by German and French government was taken for helping European automakers to ramp up electric vehicle production, eventually creating a positive impact on the growth of PCBs.

R&D Investment:

In September 2020, AT&S announced about developing new solutions for autonomous driving. With this, the company will be developing a robust as well as resilient interconnect concept for a high-performance computer chip, as a part of meeting requirements for an autonomous vehicles.

The Major Players in this Market Include

The major companies in the Europe PCB market include Fineline Ltd., NCAB Group Corporation, Schweizer Electronic AG, Somasis,  Wurth Elektronik GmbH & Co. KG, AT & S Austria Technologie & Systemtechnik AG, Mektec Europe AG, ICAPE Group, Unimicron (United Microelectronics Corporation), Elvia Group among others.

In January 2021, NCAB Group had revealed about its acquisition of PreventPCB in Italy, for which the combined net sales had amounted to approximately $29.59 million.

In August 2020, Schweizer Electronic AG had entered into a sales representative agreement with Varikorea Co., Ltd. for South Korea, under which the company will be promoting SCHWEIZER’s high-tech printed circuit boards and embedding solutions across the territory.

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