India PCB (Printed Circuit Board) Market is Expected to Register a 7.94% CAGR Through 2031F

The India PCB (Printed Circuit Board) Market is expected to be led by the Standard Multilayer PCB segment and the Consumer Electronics application segment, during the forecast period.

According to TechSci Research report, “India PCB (Printed Circuit Board) Market – By Region, Competition, Forecast and Opportunities, 2021-2031F”, India PCB (Printed Circuit Board) Market was valued at USD 5.23 Billion in 2025 and is expected to reach USD 8.27 Billion by 2031 with a CAGR of 7.94% during the forecast period.

Emerging technologies—electric vehicles (EVs), renewable energy solutions (solar inverters, smart meters), industrial automation, and medical devices—are expanding the scope and complexity of PCB demand in India. EV powertrain controls require high-power, thick‑track PCBs; solar‑monitoring inverters need multi-layered boards with precise thermal management; smart meters demand secure microcontroller-based PCBs, often conformal‑coated. This diversification creates strong tailwinds for PCB manufacturers to upscale into advanced board technologies.

The industrial automation sector, especially segments like robotic control, sensor networks, and PLC systems, requires robust, industrial-grade PCB platforms. The medical device industry—spurred by domestic diagnostic centers, patient monitoring solutions, and telehealth kits—also leans on PCB reliability and tight quality standards. These verticals offer higher margins than commodity consumer boards and pave the way for board‑design expertise, testing credentials (e.g., medical‑grade qualification), and innovation in substrate materials.

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Based on Application, the IT & Telecom segment has emerged as the fastest-growing application in the India PCB (Printed Circuit Board) Market, fueled by rapid digitalization, data consumption growth, and nationwide network expansion initiatives. With the rollout of 5G infrastructure and increasing broadband penetration, demand for high-performance PCBs in telecom equipment such as routers, servers, switches, and data transmission systems has surged. India's expanding digital economy and government-led programs like Digital India are further accelerating infrastructure upgrades, directly benefiting the PCB demand in this segment.

IT hardware manufacturing is also witnessing significant momentum, driven by incentives under the Production-Linked Incentive (PLI) schemes for IT hardware and telecom equipment. Local production of laptops, tablets, data storage units, and cloud computing infrastructure is increasing, driving greater consumption of multilayer, high-frequency, and thermal-stable PCBs. As India positions itself as a global hub for IT manufacturing, this segment is expected to experience sustained double-digit growth.

The IT & Telecom segment’s fast-paced evolution is also encouraging manufacturers to adopt advanced technologies such as High-Density Interconnect (HDI) PCBs and radio-frequency PCBs. This trend is expected to redefine the competitive landscape, making IT & Telecom a pivotal contributor to the future trajectory of the India PCB (Printed Circuit Board) Market.

Based on Region, North India has rapidly emerged as the fastest-growing region in the India PCB (Printed Circuit Board) Market, driven by increasing industrial activity, expanding electronics clusters, and rising government support. States like Uttar Pradesh, Haryana, and Delhi NCR are witnessing strong growth in electronics manufacturing due to infrastructure development and policy incentives under schemes such as Make in India and the Electronics Manufacturing Clusters (EMC) program. Noida and Greater Noida have become strategic hubs, attracting investments from both domestic and global firms to set up PCB assembly and electronics component manufacturing units.

The region's proximity to large consumer markets and growing demand for smartphones, LED lighting, automotive electronics, and telecom infrastructure has further boosted PCB demand. Investments in industrial parks, skilled labor availability, and better connectivity have made North India an attractive destination for expansion. With ongoing development of dedicated industrial corridors and logistics networks, North India is set to play a central role in the future growth of the India PCB (Printed Circuit Board) Market, contributing significantly to national production and innovation capacity.

Major companies operating in the India PCB (Printed Circuit Board) Market are:

• AT&S India Pvt. Ltd.
• Shogini Technoarts Pvt. Ltd.
• Genus Electrotech Ltd.
• CIPSA-TEC India Pvt. Ltd.
• Epitome Components Ltd.
• Fine-Line Circuits Ltd.
• Meena Circuits Pvt. Ltd.
• Ascent Circuits Pvt. Ltd.

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“The India PCB (Printed Circuit Board) Market is poised for robust growth driven by rising domestic electronics manufacturing, supportive government policies like the Production-Linked Incentive scheme, and increasing demand across sectors such as automotive, telecommunications, consumer electronics, and renewable energy. As companies localize supply chains and invest in advanced technologies like high-density interconnect and flexible circuits, India is transitioning from a low-cost assembler to a high-value manufacturing hub. The expansion of semiconductor fabrication and growing foreign direct investment further strengthen the ecosystem. With continuous innovation and infrastructure development, the India PCB (Printed Circuit Board) Market is expected to witness sustained long-term expansion”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“India PCB (Printed Circuit Board) Market By Product Type (Rigid 1-2 Sided, Standard Multilayer, Flexible Circuits, HDI/ Microvia /Build Up, Rigid Flex, Others), By Segment (Rigid PCBs, Flexible PCBs), By Application (Consumer Electronics, IT & Telecom, Defense & Aerospace, Automotive, Healthcare, Others), By Region, Competition, Forecast & Opportunities, 2021-2031F”, has evaluated the future growth potential of India PCB (Printed Circuit Board) Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India PCB (Printed Circuit Board) Market.

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