Summary of India's PCB Market in 2024

The Indian PCB (Printed Circuit Board) market continued to expand in 2024, benefiting from the global electronic industry's recovery and the development of emerging technologies. According to market research institutions, the Indian PCB market demonstrated a steady growth trend in 2024, primarily driven by the robust demand from downstream application markets such as consumer electronics, automotive electronics, and communication electronics. Although specific market size data may vary due to different statistical methods and sample selections among institutions, the overall growth trend is clear.

In terms of market supply and demand, the situation in India's PCB market improved in 2024. With the rapid development of the domestic electronic industry and increased foreign investment, India's PCB production capacity increased, but there was still a supply shortage. This was mainly due to the gap in Indian domestic PCB manufacturers' ability to meet high-end market demands, with some high-end PCB products still relying on imports. However, with the implementation of policies such as India's Production Linked Incentive (PLI) scheme for the electronics manufacturing industry, the supply and demand situation in the Indian PCB market is expected to further improve in the coming years.

The competitive landscape of India's PCB market in 2024 showed diversification. The number of domestic PCB manufacturers increased, intensifying market competition. At the same time, internationally renowned PCB manufacturers also entered the Indian market, exacerbating competition. These international manufacturers leveraged advanced technology, high-quality products, and services to occupy a certain share in the Indian market. Domestic manufacturers, on the other hand, enhanced their market competitiveness by improving product quality, reducing costs, and expanding application fields.

Key players and investment dynamics in the Indian PCB market in 2024 included Ascent Circuits, a leading Indian PCB manufacturer, which planned to expand production scale and increase capacity to meet market demand. Additionally, Ascent Circuits actively sought cooperation and exchanges with internationally advanced enterprises to jointly promote the development of the Indian PCB industry. Investment dynamics in 2024 saw multiple investments in India's PCB market, such as Ascent Circuits' plan to establish a new PCB production factory in Hosur with an investment of INR 6,126 million (approximately RMB 520 million). These investments will further enhance the production capacity and technical level of India's PCB market.

Looking ahead, the Indian PCB market will continue to develop towards high performance, high density, and high speed, driven by the rapid development of emerging technologies such as 5G, IoT, and AI. This will push PCB manufacturers to continuously upgrade and innovate technology to meet market demands. The application fields of India's PCB market will continue to expand into more areas, such as smart homes, wearable devices, and medical electronics, providing PCB manufacturers with more market opportunities. The Indian government will continue to promote the development of the electronics manufacturing industry and introduce more supportive policies, providing PCB manufacturers with more policy support and market opportunities, and driving the rapid development of India's PCB market