The global rigid-flex PCBs market expected to hit the market value of US$ 5,805.5 Mn in 2029, growing at a Compounded Annual Growth Rate (CAGR) of 4.5% from 2021 to 2029. Prominent factor driving the rigid-flex PCBs market is the continual growth observed across the Internet of Things (IoT) technology. IoT has become a vital technology in the IT industry, utilized to synchronize all the smart objects over an integrated network through the Internet. The technology enable end-users to monitor and control connected devices and processes in real-time. Additionally, with rising deployment of digital solutions in a bid to transform existing business processes to connected ones, demand for IoT hardware, solution and services expected to increase across the forecast period. The number of connected devices accounted to exceed 20.0 Mn by 2021, thereby driving demand for rigid-flex printed circuit boards worldwide. IT and telecom sector is witnessing a strong and steady growth with significant spending on ICT products and solutions. This, in turn, is anticipated to favor the demand for rigid-flex PCBs throughout the forecast period from 2021 to 2029.
"Consumer Electronics Segment to cement its Dominance in Rigid-flex PCBs Market"
Consumer electronics represents the largest application segment for rigid-flex PCBs market. The segment accounted for over 25% of the global market value in the base year 2020. The trend shall prolong and the segment is presumed to retain its leading position, exhibiting strong growth through the forecast period from 2021 and 2029. The anticipated growth in this segment will be driven by growing adoption of rigid-flex circuit boards in smartphones, tablets, and wearable consumer gadgets (smart watches, etc.). In addition, superior benefits offered by the rigid-flex technology in terms of size, weight, reliability and assembly cost is driving the use of these circuit boards in consumer electronic devices. On the other hand, budding application segments including healthcare and automotive are also presumed to register strong growth during the forecast period from 2021 to 2029.
"Steady Growth of Consumer Electronics Sector to Ensure the Dominating Position of Asia Pacific Market"
The global rigid-flex PCBs market is led by Asia Pacific followed by North America and Europe in terms of market value. In 2020, the region accounted for over 70% of the global market value generated worldwide. Asia Pacific is slated to remain the most attractive business destination for rigid-flex PCBs throughout the forecast period. With the perpetually growing consumer electronics market in the region, the demand for components including rigid-flex PCBs is also expected to grow swiftly. Over the period, China, Japan and South Korea have emerged as major hubs for consumer electronics manufacturing. Of these, China represents the largest market for rigid-flex PCBs in the region.
"Innovative Techniques for Strengthening Product Portfolio to Remain Key Strategy for Rigid-flex PCBs Manufacturers"
Major players in the global rigid-flex PCB market include Nippon Mektron, Ltd., TTM Technologies, Inc., Unimicron Technology Corporation, Samsung Electro-Mechanics, and AT&S among others. The prominent players present in the market are focusing on implementing new growth and innovation techniques for strengthening their product portfolio of rigid-flex PCBs to obtain an upper hand and to stay ahead in the competition. Product innovation, partnerships, mergers and acquisitions remain key strategies adopted by the players operating in the market. In January 2019, Nippon Mektron, Ltd. acquired an equity interest in Nitto Denko (Suzhou) Co., Ltd., an electronic component manufacturing company. The acquisition of the equity interest will help in enhancing the Company’s market competitiveness and will create a base for future development in the years to come. Prominent players are also focusing on expanding their geographical presence across emerging economies like Japan and India. For instance, in September 2019, TTM Technologies, Inc. announced the opening of its regional offices in India and Japan respectively.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Rigid-flex Printed Circuit Boards (PCBs) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
