India Printed Circuit Board (PCB) Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2026

Description

The India printed circuit board market is witnessing strong growth as rising electronics manufacturing, expanding adoption of advanced electronic systems, and increasing focus on domestic production drive market development across the country. The market is valued at USD 6.1 billion in 2025 and is projected to reach USD 17.7 billion by 2032, growing at a robust CAGR of 16.5% during the study period from 2019 to 2032. Growing demand from consumer electronics, automotive electronics, industrial automation, telecommunications, and renewable energy sectors is supporting sustained market expansion.

Printed circuit boards form the backbone of electronic devices by enabling connectivity and functionality of electronic components. Increasing penetration of electric vehicles, 5G infrastructure, IoT devices, and smart appliances is significantly strengthening demand for high-density and high-performance PCBs. Government initiatives promoting electronics manufacturing, semiconductor ecosystem development, and supply chain localization are further reinforcing long-term market momentum.

Maharashtra represents the largest state-level market, supported by strong electronics manufacturing activity, industrial infrastructure, and presence of leading OEMs, while Karnataka is emerging as the fastest-growing state due to expanding electronics clusters, strong technology ecosystem, and rising investment in advanced PCB manufacturing capabilities. As India accelerates its electronics and digital manufacturing ambitions, the printed circuit board market is expected to maintain strong growth throughout the forecast period.

Key Insights

The India printed circuit board market is valued at USD 6.1 billion in 2025 and is expected to reach USD 17.7 billion by 2032, reflecting strong long-term growth driven by expanding electronics manufacturing.

The market is projected to grow at a CAGR of 16.5% during 2019-2032, supported by rising demand for advanced and high-density PCB solutions.

Increasing adoption of electric vehicles, 5G, and IoT devices is strengthening demand for printed circuit boards.

Maharashtra accounts for the largest share of the market, driven by strong industrial presence and electronics manufacturing infrastructure.

Karnataka is the fastest-growing state, supported by expanding electronics clusters and investment in advanced PCB technologies.

Growth in consumer electronics and industrial automation is increasing PCB consumption across multiple applications.

Advancements in multilayer and high-frequency PCB technologies are improving performance and application scope.

Government support for electronics manufacturing and supply chain localization is reinforcing long-term market development.

Increasing collaboration between OEMs and PCB manufacturers is strengthening domestic production capabilities.

Continued investment in electronics manufacturing, technology upgrades, and infrastructure development is expected to sustain long-term growth in the India printed circuit board market.

Product Code: 13863

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Rigid 1-2 Sided
- 1.4.2. Market Size Breakdown, by Standard Multilayer
- 1.4.3. Market Size Breakdown, by Flexible Circuits
- 1.4.4. Market Size Breakdown, by HDI/Microvia/Build-Up
- 1.4.5. Market Size Breakdown, by Rigid-Flex
- 1.4.6. Market Size Breakdown, by Layer
- 1.4.7. Market Size Breakdown, by Segment
- 1.4.8. Market Size Breakdown, by Manufacturing Type
- 1.4.9. Market Size Breakdown, by Laminate Type
- 1.4.10. Market Size Breakdown, by Application
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Sociopolitical Impact
5.4. Porter's Five Forces Analysis
- 5.4.1. Bargaining Power of Buyers
- 5.4.2. Bargaining Power of Suppliers
- 5.4.3. Threat of New Entrants
- 5.4.4. Intensity of Rivalry
- 5.4.5. Threat of Substitutes
5.5. Lifecycle Analysis
5.6. Innovation and Technology Trends
5.7. Economic and Regulatory Impact
5.8. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2025)
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. Maharashtra Market

7.1. Overview
7.2. Market Revenue, by Rigid 1-2 Sided (2019-2032)
7.3. Market Revenue, by Standard Multilayer (2019-2032)
7.4. Market Revenue, by Flexible Circuits (2019-2032)
7.5. Market Revenue, by HDI/Microvia/Build-Up (2019-2032)
7.6. Market Revenue, by Rigid-Flex (2019-2032)
7.7. Market Revenue, by Layer (2019-2032)
7.8. Market Revenue, by Segment (2019-2032)
7.9. Market Revenue, by Manufacturing Type (2019-2032)
7.10. Market Revenue, by Laminate Type (2019-2032)
7.11. Market Revenue, by Application (2019-2032)
7.12. Market Revenue, by Country (2019-2032)

Chapter 8. Tamil Nadu Market

8.1. Overview
8.2. Market Revenue, by Rigid 1-2 Sided (2019-2032)
8.3. Market Revenue, by Standard Multilayer (2019-2032)
8.4. Market Revenue, by Flexible Circuits (2019-2032)
8.5. Market Revenue, by HDI/Microvia/Build-Up (2019-2032)
8.6. Market Revenue, by Rigid-Flex (2019-2032)
8.7. Market Revenue, by Layer (2019-2032)
8.8. Market Revenue, by Segment (2019-2032)
8.9. Market Revenue, by Manufacturing Type (2019-2032)
8.10. Market Revenue, by Laminate Type (2019-2032)
8.11. Market Revenue, by Application (2019-2032)
8.12. Market Revenue, by Country (2019-2032)

Chapter 9. Karnataka Market

9.1. Overview
9.2. Market Revenue, by Rigid 1-2 Sided (2019-2032)
9.3. Market Revenue, by Standard Multilayer (2019-2032)
9.4. Market Revenue, by Flexible Circuits (2019-2032)
9.5. Market Revenue, by HDI/Microvia/Build-Up (2019-2032)
9.6. Market Revenue, by Rigid-Flex (2019-2032)
9.7. Market Revenue, by Layer (2019-2032)
9.8. Market Revenue, by Segment (2019-2032)
9.9. Market Revenue, by Manufacturing Type (2019-2032)
9.10. Market Revenue, by Laminate Type (2019-2032)
9.11. Market Revenue, by Application (2019-2032)
9.12. Market Revenue, by Country (2019-2032)

Chapter 10. Gujarat Market

10.1. Overview
10.2. Market Revenue, by Rigid 1-2 Sided (2019-2032)
10.3. Market Revenue, by Standard Multilayer (2019-2032)
10.4. Market Revenue, by Flexible Circuits (2019-2032)
10.5. Market Revenue, by HDI/Microvia/Build-Up (2019-2032)
10.6. Market Revenue, by Rigid-Flex (2019-2032)
10.7. Market Revenue, by Layer (2019-2032)
10.8. Market Revenue, by Segment (2019-2032)
10.9. Market Revenue, by Manufacturing Type (2019-2032)
10.10. Market Revenue, by Laminate Type (2019-2032)
10.11. Market Revenue, by Application (2019-2032)
10.12. Market Revenue, by Country (2019-2032)

Chapter 11. Company Profiles

Chapter 12. Appendix

12.1. Sources and References
12.2. Related Reports

India Printed Circuit Board (PCB) Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2026 - 2032)