Views: 0 Author: Site Editor Publish Time: 2025-05-10 Origin: Site
Growth Drivers:
India's electronics manufacturing sector has witnessed rapid growth in recent years, fueled by the government's "Make in India" initiative, which has attracted significant foreign investment, particularly in smartphones, consumer electronics, and automotive electronics. This has directly boosted demand for Printed Circuit Boards (PCBs).
Smartphones: India is now the world's second-largest smartphone market, with brands like Xiaomi, Samsung, and vivo establishing local manufacturing facilities, driving the development of the domestic PCB supply chain.
Automotive Electronics: The rise of India's automotive industry, especially in electric vehicles (EVs), has increased demand for high-density interconnect (HDI) PCBs and flexible PCBs.
5G and IoT: The acceleration of 5G network deployment and the proliferation of IoT devices in India are further stimulating the PCB market.
Market Size:
According to market research firms, India's PCB market size is projected to reach USD 2–3 billion in 2025, with a compound annual growth rate (CAGR) exceeding 10%. However, this figure remains significantly smaller compared to China (approximately USD 40 billion) and other Southeast Asian countries.
Insufficient Local Production:
India's PCB industry is still in its nascent stages, with most high-end PCBs relying on imports (primarily from China, Taiwan, and South Korea). Local companies primarily focus on low-end double-sided and multilayer PCBs, with limited technological capabilities and production capacity.
Foreign Dominance:
Global PCB giants (such as Zhen Ding Technology and Unimicron from Taiwan, and Samsung Electro-Mechanics from South Korea) are evaluating or planning to set up factories in India to meet localization demands and avoid tariffs.
Policy Support:
The Indian government is incentivizing local electronics manufacturing through policies like the Production-Linked Incentive (PLI) scheme, offering tax breaks and subsidies to PCB companies.
Local Companies:
Indian PCB manufacturers are predominantly small-scale and lack advanced technologies, primarily serving the low-end market. Examples include:
Syrma SGS Technology: A leading Indian PCB manufacturer offering multilayer and HDI boards.
Victoria Engineering: Specializing in PCBs for industrial control applications.
Foreign Companies:
Foreign players have not yet made large-scale entries, but future investments through joint ventures or wholly-owned subsidiaries are anticipated.
Challenges:
Technological Barriers: Producing high-end PCBs (such as high-frequency, high-speed boards, and package substrates) requires advanced equipment and processes, which local Indian companies lack.
Incomplete Supply Chain: Most raw materials for PCB production (e.g., copper-clad laminates, copper foils) are imported, leading to higher costs.
Infrastructure Deficiencies: Issues like unstable power supply and inefficient logistics hinder production efficiency.
Opportunities:
Policy Incentives: The Indian government's electronics manufacturing policies provide a favorable environment for PCB companies.
Growing Market Demand: PCB demand will continue to rise with the expansion of India's electronics manufacturing sector.
Regional Supply Chain Shifts: Global trade tensions and geopolitical risks are prompting some companies to relocate production from China to India.
Accelerated Localization:
With the entry of foreign companies and technological upgrades by local firms, India's PCB industry is expected to gradually achieve localization, reducing reliance on imports.
High-End Development:
The Indian PCB market will shift toward high-end products like HDI, flexible PCBs, and high-frequency, high-speed boards to meet demands from 5G, automotive electronics, and other sectors.
Intensified Regional Competition:
India's PCB market will face competition from Southeast Asian countries (such as Vietnam and Thailand), which have cost and supply chain advantages.
In 2025, India's PCB market is poised for rapid growth, driven by the rise of electronics manufacturing and supportive government policies. However, challenges such as a weak local industrial base, technological backwardness, and an incomplete supply chain remain significant hurdles. For international PCB companies, India represents an emerging market worth monitoring, but careful evaluation of investment risks and localization challenges is essential. For local firms, seizing policy opportunities and strengthening technological cooperation are key to overcoming bottlenecks.
