Zhejiang Merchants Securities: AI catalyzes the simultaneous increase in quantity and price of the PCB equipment industry, and the domestic leading space is accelerating its opening.

Zheshang Securities released a research report stating that in the medium to long term, the demand for AI and the market's demand for high-end PCB "thinner thickness, higher density, stronger heat dissipation" will continue to grow. It is expected that by 2029, the global PCB output value is expected to reach $94.661 billion, with a CAGR of 5.2% from 2024 to 2029. Benefiting from the rapid expansion of global AI data centers and the demand for high-end PCB technology iteration, the industry is expected to see a rise in both volume and price. The leading domestic industrial chain is facing a great opportunity for accelerated breakthroughs.