5g is the most beneficial industry for PCB, and the outstanding listed companies are the first to share the 60 billion cake
Addtime：2020-08-08
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Zhengye Technology (300410) is also concerned as a supplier of both.
5g brings 60 billion PCB incremental opportunities
It is estimated that 5g will bring more than 60 billion incremental opportunities for PCB boards. CAITONG securities research report pointed out that the evolution of communication technology brought by 5g will eventually be reflected in the upgrading and reconstruction of communication facilities, which will inevitably bring growth opportunities to the relevant electronic components industry.
As the "mother of electronic products", the profound changes in the downstream will benefit the PCB industry. Undoubtedly, 5g construction will become an important driving force to drive the growth of PCB industry in the next 2-3 years.
In terms of total volume, first of all, the demand for PCB board shipment is driven by 5g. The Ministry of industry and information technology predicts that 5g mobile phones will be launched in the second half of 2019. Considering that 5g mobile phones still need to be compatible with 4G mobile phones in the early stage and are more difficult than 4G mobile phones, it is estimated that domestic mobile phone shipments will reach 574 million units and 5g mobile phones will reach 144 million units in 2022.
In addition, the number of base stations will be greatly increased due to 5g using high frequency band for signal transmission. There are two ways to add base station: macro base station and small base station. According to the white paper on 5g industry and application development in China in 2018 issued by CCID consultants, it is estimated that the increment of 5g macro stations will reach 3.6-5 million, and the number of small base stations will reach 7.2-10 million. The total number of base stations will be 3.3-4.6 times of that of 4G base stations, laying a huge space for growth.
In terms of unit consumption, in the 5g era, due to the explosion of information and the demand for high transmission rate, the large-scale application of massive MIMO leads to the increase of antennas, which will generate greater demand for PCB board, and the increase of PCB board area will open up a wider growth space.
In addition, due to 5g high frequency band, PCB board with hydrocarbon material is the mainstream solution for base station antenna, and its price is about 3000-6000 yuan / m2, and the price of ordinary PCB is about 1900 yuan / m2. The unit value is increased by 1.5-3 times, and the value of single board is greatly increased.
In addition, from 2020, the number of 5g connections in China will reach 428 million by 2025, and the five-year compound growth rate will reach 155.61%. The blowout of data demand forces the communication equipment to improve the data processing capacity, and the corresponding PCB board is expected to develop to multi-layer, and the price is also increased accordingly.
CAITONG Securities said that the changes in base station construction brought about by technological innovation in 5g era will create a new incremental market for electronic products, and PCB as the carrier of components will benefit deeply. According to conservative estimates, 5g will create 61.8 billion incremental space for PCB in five years, and China's PCB industry is expected to usher in massive growth opportunities.
5g brings 60 billion PCB incremental opportunities
It is estimated that 5g will bring more than 60 billion incremental opportunities for PCB boards. CAITONG securities research report pointed out that the evolution of communication technology brought by 5g will eventually be reflected in the upgrading and reconstruction of communication facilities, which will inevitably bring growth opportunities to the relevant electronic components industry.
As the "mother of electronic products", the profound changes in the downstream will benefit the PCB industry. Undoubtedly, 5g construction will become an important driving force to drive the growth of PCB industry in the next 2-3 years.
In terms of total volume, first of all, the demand for PCB board shipment is driven by 5g. The Ministry of industry and information technology predicts that 5g mobile phones will be launched in the second half of 2019. Considering that 5g mobile phones still need to be compatible with 4G mobile phones in the early stage and are more difficult than 4G mobile phones, it is estimated that domestic mobile phone shipments will reach 574 million units and 5g mobile phones will reach 144 million units in 2022.
In addition, the number of base stations will be greatly increased due to 5g using high frequency band for signal transmission. There are two ways to add base station: macro base station and small base station. According to the white paper on 5g industry and application development in China in 2018 issued by CCID consultants, it is estimated that the increment of 5g macro stations will reach 3.6-5 million, and the number of small base stations will reach 7.2-10 million. The total number of base stations will be 3.3-4.6 times of that of 4G base stations, laying a huge space for growth.
In terms of unit consumption, in the 5g era, due to the explosion of information and the demand for high transmission rate, the large-scale application of massive MIMO leads to the increase of antennas, which will generate greater demand for PCB board, and the increase of PCB board area will open up a wider growth space.
In addition, due to 5g high frequency band, PCB board with hydrocarbon material is the mainstream solution for base station antenna, and its price is about 3000-6000 yuan / m2, and the price of ordinary PCB is about 1900 yuan / m2. The unit value is increased by 1.5-3 times, and the value of single board is greatly increased.
In addition, from 2020, the number of 5g connections in China will reach 428 million by 2025, and the five-year compound growth rate will reach 155.61%. The blowout of data demand forces the communication equipment to improve the data processing capacity, and the corresponding PCB board is expected to develop to multi-layer, and the price is also increased accordingly.
CAITONG Securities said that the changes in base station construction brought about by technological innovation in 5g era will create a new incremental market for electronic products, and PCB as the carrier of components will benefit deeply. According to conservative estimates, 5g will create 61.8 billion incremental space for PCB in five years, and China's PCB industry is expected to usher in massive growth opportunities.