India PCB (Printed Circuit Board) Market: Current Analysis and Forecast (2025-2033)

India PCB (Printed Circuit Board) Market Size & Forecast

The India PCB (Printed Circuit Board) market was valued at USD ~6237 million in 2024 and is expected to grow to a strong CAGR of around 16.40% during the forecast period (2025-2033F), owing to the surge in demand for consumer electronics, electric vehicles, and IoT devices is significantly propelling PCB consumption across India.

PCB (Printed Circuit Board) Market Analysis

Printed Circuit Board (PCB) is the backbone of modern electronics usage as it forms a patterned guideway of electrical signals and powered distribution. This enables miniaturization and effective construction of complicated circuitry, as a result of which PCBs have been non-deliberative in use in a variety of applications, including consumer electronics, vehicle systems, automated telecommunications, industrial automation, and renewable-energy technology.

To sustain the growth rate of the PCB market in India, manufacturers are investing in complex fabrication technologies, such as High-Density Interconnect (HDI), rigid-flex, and multilayer PCBs that can enable high-end applications. Moreover, companies are increasing the output capacity, automating production, and solidifying domestic supply chain networks to minimize the dependence on imports. Further, the alliance with international OEMs, focus on R&D on environment-friendly processes, and adherence to international quality benchmarks are some of the important measures that Indian players are undertaking in their endeavor to stay competitive and to fulfill the emerging needs of the customers.

For instance, on March 28, 2025, the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Electronics Component Manufacturing Scheme with a funding of INR 22,919 crore to make India Atmanirbhar in the electronics supply chain.

This scheme aims to develop a robust component ecosystem by attracting large investments (global/domestic) in the electronics component manufacturing ecosystem, increasing Domestic Value Addition (DVA) by developing capacity and capabilities, and integrating Indian companies with Global Value Chains (GVCs).

India PCB (Printed Circuit Board) Market Trends

This section discusses the key market trends that are influencing the various segments of the India PCB (Printed Circuit Board) market, as found by our team of research experts.

Adoption of Automation & Industry 4.0 in PCB Production Lines

The combination of automation and Industry 4.0 technologies in PCB production is changing the Indian industry by revamping production efficiency and quality in the country. Robotic soldering, laser drilling, and intelligent inspection are some of the automated processes improving the turnaround time and reducing error rates. Predictive maintenance allows monitoring and analysis of real-time data to reduce downtime and wastage. The digital transition assists manufacturers in addressing the call for high volume as well as precision in advanced electronics industries. Consequently, the smart factory companies derive a competitive advantage to the effect that the entire PCB market of India in terms of growth and competitiveness in the global market.

For instance, on October 17, 2024, Amber Enterprises India Ltd announced a joint venture (JV) with Korea Circuit Co Ltd to bring advanced printed circuit board (PCB) manufacturing capabilities to India. The 50:50 JV, named Amber Korea Circuit Pvt Ltd, will focus on designing, manufacturing, and supplying PCBs for various industries, including automotive, industrial, medical, and consumer electronics.

PCB (Printed Circuit Board) Industry Segmentation

This section provides an analysis of the key trends in each segment of the India PCB (Printed Circuit Board) market report, along with forecasts at the regional and state levels for 2025-2033.

The Multilayer PCB market held the dominant share of the PCB (Printed Circuit Board) Market in 2024.

Based on the type, the market is segmented into single-sided PCB, double-sided PCB, multilayer PCB, Rigid PCB, Flex PCB, and Rigid-Flex PCB. Among these, the Multilayer PCB market held the dominant share of the market in 2024 because of the increasing demand for high-performance, compact, and stable circuit design in smartphones, laptops, and telecom devices. They are essential to the electronic devices of the modern era and the next-generation products, such as 5G infrastructure, because they have the power to support more complex circuitry that is increasingly dense. This requirement is forcing local PCB makers to invest in high-tech multilayer production facilities that are raising India in the global supply chain. For instance, in March 2023, T-Works, India’s largest prototype centre, agreed to establish a unique multilayer Printed Circuit Board (PCB) fabrication facility at T-Works. This facility will help with the quick manufacture of up to 12-layer boards, which will speed up electrical device prototypes and development.

The automotive segment is expected to grow with a significant CAGR during the forecast period (2025-2033) of the PCB (Printed Circuit Board) Market.

Based on the application, the market is segmented into consumer electronics, industrial electronics, medical devices, automotive, telecommunication, lighting, and others. Among these, the automotive segment is expected to grow with a significant CAGR during the forecast period (2025-2033). The quick electrification of cars and the incorporation of modern driver-assistance systems (ADAS) have increased the demand for advanced PCBs in the Indian car industry. Smart dashboards, battery management systems, infotainment, and electric vehicles (EVs) are becoming the norm, and in many ways, this translates to a need to utilize high-quality and sturdy PCBs. This tendency forces local producers to improve technologies, to reach an automotive grade level of certification, and to comply with the global OEMs' production level, stimulating a sustainable growth of the market.

South India leads the PCB (Printed Circuit Board) Market in 2024.

The India PCB market is driven by South India, which has the major clusters in the electronics manufacturing industry in cities such as Bengaluru, Chennai, and Hyderabad. The market provides an excellent ecosystem comprising many OEMs, EMS suppliers, and chip firms, so that a stable and multifaceted PCB demand is available. Accessible and talent-endowed technical teams and state-friendly business policies encourage the set-up of advanced production units. Most companies employ automation, HDI PCB, and turnaround services to support the domestic and export markets. Such a cluster of infrastructural and innovative facilities renders South India a standpoint for the stable growth of the PCB industry and techno-development.

For instance, on October 10, 2024, Amber Group's subsidiary Ascent Circuits announced a Rs 650 crore investment to set up a PCB manufacturing facility in Hosur, Tamil Nadu. This facility will use advanced technologies to produce various PCBs and create over 1,000 jobs. The initiative supports India's semiconductor and chip substrate industries, while Amber Group reports strong financial growth.

PCB (Printed Circuit Board) Industry Competitive Landscape

The India PCB (Printed Circuit Board) market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top India PCB (Printed Circuit Board) Companies

Some of the major players in the market are Genus Electrotech Ltd, Ascent Circuits Pvt. Ltd. (Amber Group), Shogini Technoarts Pvt. Ltd., Epitome Components, CIPSA TEC INDIA PVT. LTD., Meena Circuits, Fine-Line Circuits Limited, Circuit Systems (India) Ltd., India Circuits PVT. LTD., Micropack Pvt Ltd.

Recent Developments in the India PCB (Printed Circuit Board) Market

• On December 11, 2024, Schneider Electric announced plans to establish a new Printed Circuit Board (PCB) manufacturing plant in Karnataka, creating an additional 5,000 jobs in the coming years. The announcement was made during a meeting in Paris between Karnataka Industries Minister M.B. Patil and Schneider Electric executives, as part of the global roadshow for Invest Karnataka 2025.

India PCB (Printed Circuit Board) Market Report Coverage

Reasons to Buy the India PCB (Printed Circuit Board) Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, type portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

The India PCB (Printed Circuit Board) Market can further be customized as per the requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.