Electrification + Intelligent Network Integration gives rise to

new opportunities for automotive PCBs

1. Application and space: PCB downstream scenarios are rich, and the application space in the field of automotive electronics is like a sea of stars.

PCB Printed circuit board is an important electronic component and a support for electronic components. Its downstream applications cover communications (35%), automobiles (16%), etc. The automotive electronics PCB track is expected to release a broad space for development.

The application scenarios are rich, and the market space is expected to grow rapidly. Automotive PCBs are used in control systems, audio-visual systems, GPS modules, etc. With the continuous improvement of automotive electronics, the demand for automotive PCB applications will continue to increase.

Specifically, as of July 2019, the value of a single PCB for low-end, mid-range, and high-end cars is $30-40, $50-70, and $100-150, respectively. Driven by the new four modernizations of cars in the future, the value of a single car is expected There will be a significant increase, driving the overall market size to continue to grow. VMR predicts that the global scale will reach 12.48 billion US dollars in 2028, and the compound growth rate will be 5.3% from 2020 to 2028. Among them, the Asia-Pacific region is expected to become the regional market with the highest growth rate.

2. Development trend: The new four modernizations of automobiles have promoted a significant increase in the demand for PCBs, and the stabilization of upstream prices has driven the development of the industry.

On the demand side: the cost of automotive electronics continues to increase, and the demand for PCBs is increasing. Historically, the cost of automotive electronics has continued to grow, and the trend will continue. The proportion of automotive electronics in new energy vehicles has reached 65%, which is significantly higher than that of fuel vehicles. The continuous improvement of automotive electronics applications will drive the growth of its basic components - PCB demand.

(1) Intelligence: intelligent driving + intelligent cockpit. In terms of intelligent driving, the current ADAS penetration rate is gradually increasing, and most of the sensor solutions are 1V1R. However, it is expected that the promotion of autonomous driving above L3 level will drive the increase in the number of sensors (L5 needs 32), which will significantly drive the increase in the number of sensor PCBs.

In addition, the application of 77GHz millimeter waves will increase the requirements for PCBs and further promote the value of bicycle PCBs. We predict that the ADAS sensor PCB market will grow at a compound growth rate of 35.9% from 2021 to 1025, reaching 46.09 billion yuan.

In terms of cockpit, the current car cockpit instruments and screens are showing a trend of multi-screen and large size: Zuosi Automotive Research expects that the average number of screens will increase from 1.62 in 2019 to 2.66 in 2025, and will be advanced to 14 inches or more; LCD instrument assembly The volume will increase by 44.5% year-on-year in the first three quarters of 2021, and 10.0-12-inch LCD instruments will also become the mainstream of applications in the future. We predict that the ADAS sensor PCB market will grow at a compound growth rate of 35.9% from 2021 to 1025, reaching 46.09 billion yuan.

In terms of the cockpit, the current car cockpit instruments and screens are showing a trend of multi-screen and large size: Zuosi Automotive Research predicts that the average number of screens will increase from 1.62 in 2019 to 2.66 in 2025, and will advance to 14 inches or more; The assembly volume of LCD instruments will increase by 44.5% year-on-year in the first three quarters of 2021, and 10.0-12-inch LCD instruments will also become the mainstream of applications in the future.

Automotive display screens contain PCBs, and the increase in the number of applications will increase the demand for PCBs.

(2) Network Integration: According to IHS forecasts, the penetration rate of global connected car ownership will reach 24% in 2022, and networking will gradually become the standard configuration of cars. The penetration rate of T-Box is expected to rise rapidly from 50% in 2020 to 85% in 2025. The T-Box/vehicle communication module is based on PCB research and development, and it is estimated that the scale of PCBs related to Internet of Vehicles will reach 922 million yuan in 2025.

(3) Electrification: New energy vehicles are developing rapidly. According to the China Travel Association, sales of new energy vehicles in China will increase by 169% year-on-year in 2021. In the new energy electronic control system, PCB is mainly used in VCU, MCU and BMS. At present, the obvious application scenario is that FPC replaces the traditional wiring harness, which has the advantages of high integration and automatic assembly, and the Nugget power battery PACK application.At the same time, FPC manufacturers focus on CCS products and expand application scenarios in the battery field.According to our calculations, the total FPC+CCS market size will reach 35.527 billion yuan in 2025, and the 10 billion market will start.