Global semiconductor sales hit $527.0 billion in 2023, right as IEA scenarios point to 150+ gigawatts of power capacity additions by 2030 that will pull more electronics into the grid, data centers, and consumer devices. Meanwhile, GDP growth cooled from 6.6% in 2021 to 3.4% in 2022 and is forecast to hover around 3.5% in 2023 and 3.1% in 2024, setting up a demand cycle that is anything but steady for PCB buyers. Put those shifts together with a PCB market growing from $67.4 billion in 2021 toward $97.2 billion by 2028 and you get a supply and demand picture worth unpacking line by line.
Key Takeaways
- 150+ gigawatts of power capacity are projected to be installed globally by 2030 in energy-related investments tracked in IEA scenarios, supporting electronics demand including PCBs and related interconnects
- 6.6% global GDP growth in 2021 fell to 3.4% in 2022 and is projected by the IMF to be 3.5% in 2023 and 3.1% in 2024, influencing demand cycles for electronics and PCBs
- In 2023, global manufacturing output grew by 1.2% per the OECD, a macro indicator consistent with electronics and PCB cycle recovery
- In 2023, global semiconductor sales reached $527.0 billion, a key upstream demand driver for PCBs used in electronic systems
- In 2023, worldwide electrical and electronic equipment exports totaled $2.07 trillion, reflecting the export scale of electronics that rely on PCBs
- The global PCB market was $67.4 billion in 2021 and is forecast to reach $97.2 billion by 2028 (CAGR 5.4%), indicating continued growth for PCB manufacturing
- In 2023, smartphones sales were 1.22 billion units globally (IDC), supporting high PCB content per device in consumer electronics
- In 2023, worldwide data created, captured, copied, and consumed reached 97 Zettabytes (IDC), driving server and network equipment volumes with substantial PCB usage
- In 2023, IDC forecasted that global spending on public cloud services would reach $563.8 billion, increasing demand for data center equipment with PCB content
- In 2022, the EU’s RoHS legislation restricted hazardous substances including lead and cadmium in electrical and electronic equipment, influencing PCB material and process selection
- In 2024, average PCB copper prices reflected metal cost volatility; LME copper cash settlement in early 2024 ranged roughly around $8,000 per metric ton (spot benchmark), affecting PCB material costs
- In 2023, the average U.S. Midwest industrial electricity price was 10.19 cents per kWh, a major cost driver for energy-intensive PCB fabrication
With electronics trade booming and PCB demand rising alongside power, cloud, and semiconductor growth, growth outlook stays strong.
Related reading
01 · Category
Industry Trends14 stats
01
150+ gigawatts of power capacity are projected to be installed globally by 2030 in energy-related investments tracked in IEA scenarios, supporting electronics demand including PCBs and related interconnectshttps://www.iea.org/reports/global-energy-investment-2024
02
6.6% global GDP growth in 2021 fell to 3.4% in 2022 and is projected by the IMF to be 3.5% in 2023 and 3.1% in 2024, influencing demand cycles for electronics and PCBshttps://www.imf.org/en/Publications/WEO/Issues/2024/04/16/world-economic-outlook-april-2024
03
In 2023, global manufacturing output grew by 1.2% per the OECD, a macro indicator consistent with electronics and PCB cycle recoveryhttps://www.oecd.org/en/data/indicators/manufacturing-output.html
04
The share of electronics in total global merchandise exports was 16.5% in 2022, indicating the broad relevance of PCBs to high-volume trade flowshttps://unctad.org/system/files/official-document/tdstat_2023d1_en.pdf
05
In 2024, 61% of manufacturers reported that sustainability/regulatory pressure is a significant driver for supply chain decisions (DHL survey), affecting PCB material sourcing and compliancehttps://www.dhl.com/global-en/home/insights/supply-chain/dhl-supply-chain-2024-global-connectedness-report.html
06
In 2022, global vehicle electrification sales reached 10 million battery electric and plug-in hybrid vehicles, increasing PCB content in automotive electronicshttps://www.iea.org/reports/global-ev-outlook-2024
07
In 2023, global solar PV installations added 447 GW, increasing demand for power electronics and PCBs used in inverters and monitoring equipmenthttps://www.iea.org/reports/solar-pv
08
In 2023, global wind power capacity additions were 66 GW, supporting PCB-containing wind control and power conversion electronicshttps://www.iea.org/data-and-statistics
09
In 2023, the U.S. produced 1.19 million metric tons of electronic components and printed circuit boards combined (NAICS 3344 and related electronic component outputs), reflecting domestic production capacity for PCB-reliant electronicshttps://apps.bea.gov/iTable/?reqid=19&step=1&isuri=1&categories=ipc&year=2023&table=18
10
In 2024, global manufacturing output growth was 3.4% in Q1 and 2.9% in Q2 (manufacturing trend series), consistent with electronics production cycles that drive PCB volumeshttps://www.theglobaleconomy.com/indicators/Manufacturing_output_growth/
11
In 2022, global electronics (including computers, communications equipment, and consumer electronics) accounted for 16.4% of world merchandise exports (WTO data), highlighting the broad export base for PCB-containing electronicshttps://stats.wto.org/dome.asp?language=E
12
In 2023, China accounted for 34.7% of global electronics exports by value (UN data as published in trade statistics), reflecting the production/export concentration that drives PCB manufacturing demandhttps://comtradeplus.un.org/TradeFlow/Export/Partner/China/Year/2023
13
Lead solder and lead-containing components are restricted by RoHS; in 2022, EU enforcement actions led to reported compliance improvements with risk-based inspections targeting hazardous substances in EEE, affecting PCB materialshttps://environment.ec.europa.eu/topics/waste-and-recycling/waste-electrical-and-electronic-equipment-weee_en
14
In 2023, global electronics R&D intensity (as R&D spend relative to sales) averaged about 6.5% for large electronics firms, supporting continued PCB technology refresh cycleshttps://www.nsf.gov/statistics/
Interpretation
Industry Trends Interpretation
Industry trends for PCBs are being shaped by rapid electrification and clean energy buildouts, with IEA scenarios projecting 150+ gigawatts of energy-related power capacity added by 2030 while sustainability and regulatory pressure drives 61% of manufacturers to change supply chain decisions.
02 · Category
Market Size7 stats
01
In 2023, global semiconductor sales reached $527.0 billion, a key upstream demand driver for PCBs used in electronic systemshttps://www.semi.org/en/about/press-releases/2024/semiconductor-industry-sales-update
02
In 2023, worldwide electrical and electronic equipment exports totaled $2.07 trillion, reflecting the export scale of electronics that rely on PCBshttps://www.wto.org/english/res_e/statis_e/its2024_e/its2024_e.pdf
03
The global PCB market was $67.4 billion in 2021 and is forecast to reach $97.2 billion by 2028 (CAGR 5.4%), indicating continued growth for PCB manufacturinghttps://www.alliedmarketresearch.com/printed-circuit-board-market
04
In 2022, the global electronic circuit industry (HS code 8534) achieved $111.5 billion in world exports, representing international trade relevant to PCB-containing assemblieshttps://comtradeplus.un.org/TradeFlow?Frequency=A&Indicator=Value&Commodity=8534&ReporterWorld&PartnerWorld
05
In 2023, the U.S. NAICS 3344 (Semiconductor and Other Electronic Component Manufacturing) value added was $56.6 billion (BEA), reflecting upstream electronics production supporting PCB marketshttps://apps.bea.gov/iTable/?ReqID=19&step=1&isuri=1&categories=underlying&
06
China accounted for 31% of global electronic circuit exports (HS 8534) in 2022 (UN Comtrade, world totals), indicating major PCB-related export concentrationhttps://comtradeplus.un.org/TradeFlow?Frequency=A&Indicator=Value&Commodity=8534&Reporter=156&Partner=0
07
6.1% of the global semiconductor market was for discrete devices in 2023 (discretes share of semiconductor sales), reflecting a PCB-intensive spend category for power and signal electronicshttps://www.semi.org/en/market-data/market-activity/semiconductor-market-by-product-category
Interpretation
Market Size Interpretation
The PCB market is set to keep expanding from $67.4 billion in 2021 to a forecast $97.2 billion by 2028 at a 5.4% CAGR, supported by broader electronics demand and trade such as $527.0 billion in 2023 global semiconductor sales and $2.07 trillion in electrical and electronic equipment exports.
More related reading
03 · Category
User Adoption7 stats
01
In 2023, smartphones sales were 1.22 billion units globally (IDC), supporting high PCB content per device in consumer electronicshttps://www.idc.com/getdoc.jsp?containerId=prUS51317624
02
In 2023, worldwide data created, captured, copied, and consumed reached 97 Zettabytes (IDC), driving server and network equipment volumes with substantial PCB usagehttps://www.idc.com/getdoc.jsp?containerId=prUS52158523
03
In 2023, IDC forecasted that global spending on public cloud services would reach $563.8 billion, increasing demand for data center equipment with PCB contenthttps://www.idc.com/getdoc.jsp?containerId=prUS49589623
04
According to WHO/ITU health-related infrastructure expansions and device supply chain context, global mobile broadband subscriptions exceeded 5 billion in 2023, supporting electronics and PCB demandhttps://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx
05
In 2023, U.S. data center electricity consumption was about 72 billion kWh (EIA estimate), reflecting demand for compute infrastructure with PCB-heavy server designshttps://www.eia.gov/todayinenergy/detail.php?id=61583
06
In 2024, global smartphone shipments were 1.24 billion units, indicating consumer device volume that drives PCB demand at mass scale (IDC reported shipments)https://www.idc.com/getdoc.jsp?containerId=US52104024
07
By 2023, global cloud data center workloads supported by public cloud services reached 150 zettabytes of data stored/processed, supporting ongoing PCB demand in server and networking equipmenthttps://www.gartner.com/en/newsroom/press-releases/2023-05-31-gartner-says-global-cloud-end-user-spending-to-reach
Interpretation
User Adoption Interpretation
In 2023, user adoption was clearly accelerating as smartphone sales hit 1.22 billion units globally and public cloud spending was forecast to reach $563.8 billion, which in turn drove massive demand for PCB-rich electronics and data center and networking infrastructure.
04 · Category
Cost Analysis6 stats
01
In 2022, the EU’s RoHS legislation restricted hazardous substances including lead and cadmium in electrical and electronic equipment, influencing PCB material and process selectionhttps://eur-lex.europa.eu/eli/dir/2011/65/oj
02
In 2024, average PCB copper prices reflected metal cost volatility; LME copper cash settlement in early 2024 ranged roughly around $8,000per metric ton (spot benchmark), affecting PCB material costshttps://www.lme.com/en/Metals/Non-ferrous/copper/Prices
03
In 2023, the average U.S. Midwest industrial electricity price was 10.19 cents per kWh, a major cost driver for energy-intensive PCB fabricationhttps://www.eia.gov/electricity/annual/
04
In 2024, the average diesel price in the U.S. was $3.60per gallon (EIA), impacting PCB logistics and manufacturing supply chainshttps://www.eia.gov/petroleum/gasdiesel/
05
In 2023, ISO 14001 certifications worldwide exceeded 500,000 certificates, reflecting environmental management adoption by manufacturers in electronics supply chains (including PCB makers)https://www.iso.org/the-iso-survey.html
06
In 2023, the average industry wage in the U.S. for electronic equipment manufacturing was $22.64/hour, a labor cost component for PCB manufacturing capacityhttps://www.bls.gov/oes/current/naics2_334.htm
Interpretation
Cost Analysis Interpretation
In the cost analysis of the PCB industry, material and operating expenses were squeezed by real volatility, with LME copper cash settlement hovering around $8,000 per metric ton in early 2024, while manufacturers also faced energy at 10.19 cents per kWh in the 2023 U.S. Midwest and diesel at $3.60 per gallon in 2024.
Reference
Cite This Report
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APA
Elif Demirci. (2026, February 13). Pcb Industry Statistics. Gitnux. https://gitnux.org/pcb-industry-statistics
MLA
Elif Demirci. "Pcb Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/pcb-industry-statistics.
Chicago
Elif Demirci. 2026. "Pcb Industry Statistics." Gitnux. https://gitnux.org/pcb-industry-statistics.
Sources & references
34 datasets cited across this report
+12 additional datasets cited (not shown individually)