As soaring demand for AI raises orders and shipments, North America’s PCB industry recorded a 1.60 book-to-bill ratio.
North America’s printed circuit board (PCB) industry continued its growth trajectory in May 2026, with the book-to-bill ratio reaching 1.60 as rising demand linked to artificial intelligence (AI) infrastructure supported a sharp increase in new orders, according to the Global Electronics Association.
The association’s latest report showed total PCB shipments in North America increased 11.9 per cent compared with May 2025 and rose 10.1 per cent from April 2026. On a year-to-date basis, shipments were up 12.8 per cent year-on-year.
Order activity outpaced shipments during the month. PCB bookings more than doubled, rising 102.8 per cent compared with the same month last year, while increasing 22.3 per cent over April. Year-to-date bookings climbed 28.6 per cent from the corresponding period in 2025.
The three-month book-to-bill ratio stood at 1.60, while the one-month ratio reached 1.66. A ratio above 1.00 indicates that incoming orders are exceeding current shipments, suggesting stronger sales prospects over the next three to 12 months.
Commenting on the results, Dr Shawn DuBravac, chief economist at the Global Electronics Association, said continued investment in AI infrastructure was driving record booking levels.
“Shipments are keeping pace, up 11.9 per cent over last year and 10.1 per cent from April, while year-to-date orders run 28.6 per cent ahead,” he said.
The association said companies participating in its statistical programme receive detailed market intelligence covering rigid PCBs and flexible circuits, including separate book-to-bill ratios, product-level demand trends, prototype activity and sales across sectors such as defence and medical electronics.
The monthly figures are compiled from a representative sample of rigid PCB and flexible circuit manufacturers operating across the United States and Canada. The association noted that year-on-year and year-to-date comparisons provide the most reliable indication of market performance, while monthly fluctuations should be interpreted cautiously because of seasonal factors and short-term volatility.
