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Printed Circuit Board Manufacturing in China - Market Research Report (2014-2029)

IBISWorld IBISWorld Beijing, China Last Updated: May 2024 4062

Revenue

$139.4bn

2024

$149.3bn

Past 5-Year Growth

Profit

$XX.Xbn

Employees

750k

Businesses

1,755

Wages

$XX.Xbn

Printed Circuit Board Manufacturing in China industry analysis

After years of development, China has become the world's largest manufacturing base for printed circuit boards. China's output of certain products, especially commonly used and medium- and low-end printed circuit board products, is the highest in the world. The changes in demand for printed circuit boards are closely related to the development of the electronic information sector in China, which has developed strongly in recent years. Printed circuit boards are intermediate components and are widely used in various electronic and related products. Wireless industries and consumer electronic manufacturing industries are also important downstream industries. Growing household income in China has led to increasing demand for electronic products, boosting demand for printed circuit boards. Revenue for the Printed Circuit Board Manufacturing industry in China is expected to grow at an annualized 6.4% over the five years through 2023, to total $139.4 billion. This growth includes an increase of 6.3% in the current year. In 2023, an estimated 1,755 enterprises and 750,278 employees operate in the industry. Wages costs have been growing much faster than employee numbers over the past five years. Although labor costs are still much lower in China than in other countries, average wages have been steadily increasing over the period.The industry is significantly export oriented. Due to fluctuations in overseas demands and the international trade environment, exports have fluctuated over the past five years. Exports account for approximately 15.0% of industry revenue in 2023. Exports are mainly destined for countries and areas in Asia Pacific region. Exports are expected to increase at an annualized 4.1% over the five years through 2023. Competing imports are expected to decrease at an average rate of 3.5% over the five years through 2023. Apart from a large proportion of re-import trade, imports are mainly sourced from Taiwan, Japan and South Korea.Industry revenue is forecast to grow at an annualized 7.0% over the five years through 2028, to $195.6 billion. Despite product and technology advances and an improved industry product mix, high industry competition and new government regulations on environmental protection will likely continue placing downward pressure on product prices. Intense competition and product saturation across low-end markets will result in R&D becoming increasingly important for industry players.

Trends and Insights

  • Downstream demand has supported the industry growth. Rapid development of electronic information section and emerging industries in China has driven the growing demand for PCBs.
  • Multi-layer PCBs are the largest segment. These boards are used in more sophisticated applications and can accomplish more advanced and complicated functions, representing 48.0% of industry revenue.
  • The industry is very highly regional concentrated. Industry activities are highly dynamic in Guangdong and Jiangsu provinces, which are expected to jointly generate 81.9% of industry revenue in 2023.
  • Industry concentration level is low. The top four largest industry participants represent 10.2% of industry revenue in 2023.

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Industry Statistics and Trends

Market size and recent performance (2014-2029)

Industry revenue has grown at a CAGR of 6.4 % over the past five years, to reach an estimated $139.4bn in 2024.

Trends and Insights

Rapid development of the electronic information sector supports the industry growth

  • Printed circuit board (PCB), as a fundamental electronic component, is widely used in various electronic and related products.
  • Additional trends and insights available with purchase
Printed Circuit Board Manufacturing in China
Revenue (2014-2029)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

Rapid growth of downstream industries will support industry growth

  • With the further development of China's electronic information sector and the emergence of more new advanced technologies, electronic products will be rapidly updated and replaced. The continuous launch of new generation electronic products will promote the demand growth of PCB products.

Biggest companies in the Printed Circuit Board Manufacturing in China

Company
Market Share (%)
2023
Revenue ($short_0)
2023

There are no companies that hold a large enough market share in the Printed Circuit Board Manufacturing in China industry for IBISWorld to include in this product.

Products & Services Segmentation

Printed Circuit Board Manufacturing in China
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Multi-layer printed circuit boards, High density interconnector printed circuit boards and Rigid printed circuit boards with single and double layers. Multi-layer printed circuit boards is the largest segment of the Printed Circuit Board Manufacturing in China.

Trends and Insights

Multi-layer printed circuit boards are the most commonly products

  • Multi-layer printed circuit boards are printed circuit boards with three or more conductive layers.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

Businesses in the Printed Circuit Board Manufacturing industry in China manufacture printed circuit boards (PCBs) and specialized electrical components. Printed circuit boards and specialized components are made of conducting components, inductor contacts or devices, resistors, capacitors, and other components on insulation boards through conventional or non-conventional printing procedures.

What's included in this industry?

Rigid printed circuit boards with single and double layersMulti-layer printed circuit boardsHigh density interconnector printed circuit boardsFlexible printed circuit boardsRigid-flex printed circuit boards

Companies

Purchase this report to view all major companies in this industry.

Related Terms

PRINTED CIRCUIT BOARD (PCB)CAPACITORRESISTORSWHOLLY FOREIGN-OWNED ENTERPRISEORIGINAL EQUIPMENT MANUFACTURER (OEM)RE-IMPORT OF EXPORTED GOODS (REDG)

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Downstream demand has supported the industry growth. Rapid development of electronic information section and emerging industries in China has driven the growing demand for PC...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Multi-layer PCBs are the largest segment. These boards are used in more sophisticated applications and can accomplish more advanced and complicated functions, representing 48...

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

The industry is very highly regional concentrated. Industry activities are highly dynamic in Guangdong and Jiangsu provinces, which are expected to jointly generate 81.9% of ...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each region
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each region in 2024
  • Number and share of revenue each region accounts for in 2024
  • Number and share of wages each region accounts for in 2024
  • Number and share of employees in each region in 2024

Detailed analysis

  • Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

Industry concentration level is low. The top four largest industry participants represent 10.2% of industry revenue in 2023.

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

The industry is fragmented. No single company dominates the market. The largest participants have a market share of 4.4%, and the top four players have a combined market shar...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024

Detailed analysis

    External Environment

    Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

    Analyst insights

    Industry operators enjoy tax preferences. Printed circuit board exporters enjoy an export tax rebate rate of 13.0%.

    In this chapter

    • External Drivers
    • Regulation & Policy
    • Assistance

    Key metrics

    • Regulation & policy level and trend
    • Assistance level and trend

    Charts

    • Regulation & Policy historical data and forecast (2014-2029) 
    • Assistance historical data and forecast (2014-2029) 

    Detailed analysis

    • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
    • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
    • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

    Financial Benchmarks

    View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

    Analyst insights

    Industry profit margins have been volatile. Industry profitability has been affected by the rising raw material prices, higher operation costs due to COVID-19 and increasing ...

    In this chapter

    • Cost Structure
    • Financial Ratios
    • Key Ratios

    Key metrics

    • Profit margin, and how it compares to the sector-wide margin
    • Average wages, and how it compares to the sector-wide average wage
    • Largest cost component as a percentage of revenue
    • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

    Charts

    • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Investment vs. share of economy

    Data tables

    • Cash Flow & Debt Service Ratios (2014-2029)
    • Revenue per Employee (2014-2029)
    • Revenue per Enterprise (2014-2029)
    • Employees per Establishment (2014-2029)
    • Employees per Enterprise (2014-2029)
    • Average Wage (2014-2029)
    • Wages/Revenue (2014-2029)
    • Establishments per Enterprise (2014-2029)
    • IVA/Revenue (2014-2029)
    • Imports/Demand (2014-2029)
    • Exports/Revenue (2014-2029)

    Detailed analysis

    • Trends in the cost component for industry operators and their impact on industry costs and profitability 

    Key Statistics

    Industry Data

    Data Tables

    Including values and annual change:

    • Revenue (2014-2029)
    • IVA (2014-2029)
    • Establishments (2014-2029)
    • Enterprises (2014-2029)
    • Employment (2014-2029)
    • Exports (2014-2029)
    • Imports (2014-2029)
    • Wages (2014-2029)

    Top Questions Answered

    Unlock comprehensive answers and precise data upon purchase. View purchase options.

    What is the market size of the Printed Circuit Board Manufacturing industry in China in 2024?

    The market size of the Printed Circuit Board Manufacturing industry in China is $139.4bn in 2024.

    How many businesses are there in the Printed Circuit Board Manufacturing in China industry in 2024?

    There are 1,755 businesses in the Printed Circuit Board Manufacturing industry in China, which has grown at a CAGR of 4.2 % between 2019 and 2024.

    Has the Printed Circuit Board Manufacturing industry in China grown or declined over the past 5 years?

    The market size of the Printed Circuit Board Manufacturing industry in China has been growing at a CAGR of 6.4 % between 2019 and 2024.

    What is the forecast growth of the Printed Circuit Board Manufacturing industry in China over the next 5 years?

    Over the next five years, the Printed Circuit Board Manufacturing industry in China is expected to grow.

    What does the Printed Circuit Board Manufacturing in China include?

    Rigid printed circuit boards with single and double layers and Multi-layer printed circuit boards are part of the Printed Circuit Board Manufacturing industry.

    How competitive is the Printed Circuit Board Manufacturing industry in China?

    The level of competition is high and steady in the Printed Circuit Board Manufacturing industry in China.

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    Competitors

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    Methodology

    How are IBISWorld reports created?

    IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

    Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

    IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

    What data sources do IBISWorld analysts use?

    Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

    Key data sources in China include:

    • National Bureau of Statistics China
    • General Administration of Customs
    • People’s Bank of China

    Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

    These sources include:

    • Industry and trade associations
    • Industry federations or regulators
    • Major industry players annual or quarterly filings

    Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

    How does IBISWorld forecast its data?

    IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

    IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

    Learn more about our methodology and data sourcing on the Help Center.