万亿级赛道争夺战：粤苏很强势，珠海或冲C位

Core Insights - The global PCB market is projected to reach $73.565 billion in 2024, with a year-on-year growth of 5.8%, while China's market leads at $41.213 billion, growing at 9.0% [1][4] Industry Overview - PCB is a critical component in modern electronics, facilitating connections between electronic components and signal transmission, often referred to as the "mother of electronic products" [1] - The PCB industry in China has evolved significantly, with Guangdong province accounting for approximately 60% of the national production capacity, supported by a cluster of listed companies with a combined market value exceeding one trillion yuan [4][5][9] Regional Dynamics - The competition among cities in the PCB industry is intensifying, with Guangdong's PCB production capacity being complemented by emerging players in central and western China, such as Jiangxi and Anhui, which are capitalizing on industrial transfer opportunities [4][10] - The PCB industry has seen a shift from traditional manufacturing hubs to new regions, with cities like Xinfeng in Jiangxi and Guangde in Anhui emerging as significant players in the PCB landscape [10][11] Technological Advancements - The rise of AI technology is creating new growth opportunities for the PCB industry, particularly in high-performance applications such as AI servers and smart driving, which require advanced PCBs with more than 20 layers [4][12] - Major PCB manufacturers are increasing investments in high-end PCB production capabilities to meet the growing demand for complex and high-performance products [12][13] Market Expansion - Companies like Dongshan Precision, Jingwang Electronics, and Fangzheng Technology are expanding their high-end PCB production capacities in Zhuhai, with significant investments planned for the coming years [12][13] - Zhuhai is positioning itself as a new hub for high-end PCB production, with a growing number of enterprises and substantial production output [13][14]