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

A Printed Circuit Board (PCB) is an essential electronic component that behaves as a mechanical backing and electrically links electronic and electrical components on conductive tracks, pads, and others made of copper sheets laminated to a non-conductive substrate. PCBs are parts of almost all electronic devices, ranging from smartphones and consumer goods to industrial equipment and medical devices, due to the need to have a low profile and high efficiency.

The India PCB (Printed Circuit Board) market is set to show a growth rate of about 16.40% during the forecast period (2025-2033F). The booming demand for consumer electronics, electric cars, and IoT technology is playing a big role in driving PCB consumption in India. To this, the encouragement by the government in the form of the Make in India and the Production Linked Incentive (PLI) schemes is inciting investments in domestic production. In addition, the increased activities in telecom infrastructure development, especially 5G deployment, necessitate superior PCBs in network devices. The demand for dependable and high-performance circuit boards is strengthened by rising digitalization and attempts to increase smart cities.

For instance, on January 20, 2025, with a total of 24 beneficiaries committing an investment of Rs 3,516 crore in the third round, the PLI Scheme is poised to significantly boost the production of Components of ACs & LED Lights across India. In the third round of the online application window of the Production-Linked Incentive (PLI) Scheme, a total of 38 applications were received.

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.

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.

For a better understanding of the market adoption of the India PCB (Printed Circuit Board) market, it is analyzed based on its state-wise presence in India, such as North India, East India, West India, and South India. West India is expected to grow with a significant CAGR during the forecast period (2025-2033). Industrial states such as Maharashtra and Gujarat also dominate West India, which is the largest factor in expanding the PCB market, owing to a high concentration of large electronics clusters and export-oriented manufacturing units. Accessibility to ports and well-developed industrial infrastructure is also conducive to facilitating a streamlined logistics and supply chain of manufactured PCBs and raw materials. In addition, the ongoing investments by the government in electronics parks and intelligent manufacturing zones in this area encourage firms to expand their production capacity and specialize in high-value PCBs.

Some major players running in the market include 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.