Mexico PCB Components Market Size, Share, Latest Insights and Forecast 2025-2033

IMARC Group has recently released a new research study titled “Mexico PCB Components Market Size, Share, Trends and Forecast by Component Type, PCB Type, End Use Industry, and Region, 2025-2033” which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Market Overview

The Mexico PCB components market size reached USD 420.96 Million in 2024 and is projected to grow to USD 1,097.95 Million by 2033, with a CAGR of 11.24% from 2025 to 2033. Growth is driven by Mexico's rise as a regional electronics manufacturing hub supported by nearshoring and strong export logistics. Expansion in automotive production, especially electric vehicles, alongside smart factories and renewable energy systems, is boosting demand for complex PCB components.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Mexico PCB Components Market Key Takeaways

• Current Market Size: USD 420.96 Million in 2024
• CAGR: 11.24% (2025-2033)
• Forecast Period: 2025-2033
• Mexico is emerging as a strategic electronics manufacturing hub due to nearshoring and proximity to the United States.
• Local EMS providers in Jalisco, Baja California, and Chihuahua are integrating multilayer PCBs and SMDs in high-volume production.
• The USMCA trade agreement and U.S. CHIPS Act support the relocation of U.S.-based electronics assembly operations to Mexico.
• Mexico is becoming a vital node in the North American semiconductor and PCB supply chain, decreasing dependence on Asia.
• Growth in automotive manufacturing and electric vehicle production is significantly raising demand for advanced PCB components.
• Fiscal incentives up to 76% are available for qualifying electronic component manufacturing machinery and equipment under Mexico's 2023 nearshoring initiative.

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Mexico PCB Components Market Growth Factors

Mexico has become an essential electronics manufacturing hub, benefiting from its geographical proximity to the United States and a rise in nearshoring activities by global OEMs. The increase in contract manufacturing of consumer electronics, automotive devices, and industrial systems has led to a surge in PCB component demand. Local EMS providers in regions such as Jalisco, Baja California, and Chihuahua incorporate multilayer PCBs, surface-mount devices (SMDs), connectors, and microcontrollers into large-scale production lines. The USMCA trade agreement along with U.S. CHIPS Act funding (USD 53 Billion) and Americas Act policies bolster Mexico's position in the North American semiconductor and PCB supply chain, encouraging cross-border electronics assembly relocations from Asia, primarily Taiwan, which controls over 90% of advanced semiconductor production. Government initiatives for tech parks and vocational training further solidify this ecosystem.

The automotive and electric vehicle sectors contribute significantly to PCB market growth. Mexico, being a major automotive manufacturing economy, hosts over 730 plants producing electronic components including PCB assemblies. Investments from global automakers in EV production lines, especially in Puebla and Guanajuato, are driving demand for high-voltage PCBs, thermal management components, and rugged connectors. Companies engaged in charging stations and inverter production increasingly utilize sophisticated PCB assemblies to meet performance standards. Local Tier 1 and Tier 2 suppliers are expanding their testing and quality facilities to comply with global automotive electronics standards, supported by various training and partnership programs enhancing electronics skills and competencies.

The rise of smart factories and renewable energy projects enhances the integration of PCBs in industrial automation and power systems. This shift elevates the complexity and volume of PCB components used, pushing investments in PCB design software and surface-mount technology (SMT) equipment. Mexico's 2023 nearshoring fiscal incentives allow companies manufacturing PCBs and semiconductors to receive up to 76% reduction in taxes for qualified machinery and equipment, accelerating capital expenditure and innovation in PCB manufacturing. These combined factors project a robust growth trajectory for the Mexico PCB components market through 2033.

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Mexico PCB Components Market Segmentation

Component Type Insights:

• Resistors: Standard electrical components used to regulate current flow within PCBs, essential for circuit functionality.
• Capacitors: Components that store and release electrical energy, critical in smoothing power supply within circuits.
• Diodes: Semiconductor devices that allow current flow in one direction, protecting circuits from voltage spikes.
• Transistors: Semiconductor devices used to amplify or switch electronic signals, vital for circuit operation.
• Integrated Circuits (ICs): Miniaturized electronic circuits embedded on semiconductor chips for complex functionalities.
• Connectors: Components facilitating electrical connections between PCBs and other devices.
• Others: Includes various ancillary PCB components not classified above.

PCB Type Insights:

• Rigid PCBs: Traditional, non-flexible printed circuit boards used in most electronic assemblies.
• Flexible PCBs: Flexible printed circuit boards used where bending and space-saving are required.
• Rigid-Flex PCBs: Hybrid PCBs combining rigid and flexible substrates for complex configurations.

End Use Industry Insights:

• Consumer Electronics: PCBs used in devices such as televisions, smartphones, and computers.
• Automotive: PCBs integrated into vehicle electronics including infotainment, safety systems, and battery management.
• Industrial Electronics: PCBs applied in machinery and factory automation systems.
• Healthcare: PCBs used in medical devices and diagnostic equipment.
• Telecommunications: PCBs within communication infrastructure and devices.
• Aerospace and Defense: PCBs for military and aerospace applications requiring high reliability.
• Others: Various other end-use sectors utilizing PCB components.

Regional Insights

The report segments the market into Northern Mexico, Central Mexico, Southern Mexico, and Others. Northern Mexico is notably dominant, hosting key EMS providers integrating advanced PCB components. Northern Mexico is a strategic region benefiting from proximity to the U.S. and houses major plants contributing to Mexico's position as a leading electronics supplier.

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Recent Developments & News

On April 4, 2024, ZF inaugurated a USD 200 million automotive technology campus in Monterrey, Mexico, encompassing manufacturing, corporate services, and the country’s first R&D center, featuring 16 laboratories focussing on PCB-based electronic systems for automated driving.

On February 19, 2024, TT Electronics inaugurated a 75,000 square foot manufacturing facility in Mexicali, Mexico, expanding its electronics and PCB assembly capabilities with six high-speed SMT lines, enhancing its regional footprint alongside sensor technology operations.

Key Players

• ZF
• TT Electronics

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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