The North America Flexible Printed Circuit Boards Market would witness market growth of 9.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 13,91,605.2 million Units, showcasing a growth of 9.8% (2019-2022).
Manufacturers have streamlined their production processes, utilizing automation and sophisticated equipment, leading to higher efficiency and reduced labor costs. This optimization in manufacturing practices has contributed to overall cost savings. Advancements in manufacturing have led to better quality control and higher yield rates in producing FPCBs. This decrease in defects and wastage reduces production costs per unit, contributing to cost-effectiveness. The adoption of lean manufacturing principles, such as just-in-time inventory management and reduced material waste, has optimized the production process, minimized unnecessary expenses, and enhanced cost efficiency.
Additionally, the flexible nature of FPCBs enables intricate and three-dimensional designs that are difficult to achieve with rigid PCBs. This is especially beneficial for applications requiring compact layouts, such as medical equipment and consumer electronics. The cost of manufacturing FPCBs has decreased in recent years, making them more accessible to a broader range of industries. Advancements in manufacturing processes and materials have contributed to this cost-effectiveness.
According to the data from the International Trade Administration, with substantial investments designated for infrastructure development and promoting a green economy in the 2021, 2022, and 2023 budgets, the Government of Canada has set a carbon neutrality target by 2050. Prominent American manufacturers' Canadian subsidiaries, including Stellantis ($1.14 billion), General Motors ($785 million), and Ford ($1.5 billion), have declared significant investments to prepare their assembly lines for electric vehicles. Therefore, rising investments in the automotive industry in North America will boost the demand for flexible printed circuit boards in the region.
The US market dominated the North America Flexible Printed Circuit Boards Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,347.3 Million by 2030. The Canada market is exhibiting a CAGR of 12.3% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 11.3% during (2023 - 2030).
Based on End User, the market is segmented into Consumer Electronics, Industrial Electronics, Automotive, and Others. Based on Type, the market is segmented into Double Sided FPCB, Multilayer FPCB, Rigid FPCB, Single Sided FPCB, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Flexible Printed Circuit Boards Market is Predict to reach $48.7 Billion by 2030, at a CAGR of 10.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Nitto Denko Corporation, Suzhou Dongshan Precision Manufacturing Co., Ltd., Fujikura Ltd., Benchmark Electronics, Inc., NOK Corporation, Ichia Technologies Inc., Zhen Ding Technology Holding Limited, Flexium Interconnect, Inc. and Interflex co., ltd.
By End User (Volume, Million Units, USD Billion/Million, 2019-2030)
By Type (Volume, Million Units, USD Billion/Million, 2019-2030)
By Country (Volume, Million Units, USD Billion/Million, 2019-2030)
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