Buoyed by booming AI and data centre investments, North America’s PCB industry logged double-digit growth, with factories ramping output and shipments outpacing fresh orders.
The North American printed circuit board (PCB) industry continued its strong performance in September 2025, posting double-digit year-to-date gains in both shipments and bookings, according to the Global Electronics Association (GEA).
Total PCB shipments surged 32% compared to September 2024, although they dipped 7.8% from August 2025. Year-to-date shipments rose 10.5% year-on-year, reflecting steady market strength through the first three quarters. Bookings for September increased 1.8% over the same month last year but were down 1.6% from August. Cumulatively, bookings are up 13.1% compared to the same period in 2024.
The overall book-to-bill ratio stood at 0.92, suggesting that production is outpacing new orders. The three-month rolling ratio printed at 0.92, while the one-month ratio improved slightly to 0.94, indicating that shipments continued to exceed bookings, but the gap is narrowing.
Dr Shawn DuBravac, chief economist at the GEA, said that production strengthened in September as factories worked through backlogs and met consistent customer demand. “Data centre investments, especially in AI infrastructure, continue to provide an important floor for demand,” he noted.
On a three-month rolling basis, shipments increased by around 1.8%, while bookings declined by 4.1%, indicating that the sector is in a digestion phase following earlier strong growth. Manufacturers appear to be converting past orders efficiently as supply chain constraints ease and throughput improves.
Looking ahead to the fourth quarter, industry analysts are watching for new programme launches, fiscal year-end project cycles and ongoing investment in AI-driven data centres. These factors are expected to help offset softness in other markets, keeping factory utilisation stable and margins supported through higher-value, technology-intensive PCB products.
GEA noted that if current booking levels are sustained, the North American PCB sector is likely to close 2025 with solid growth and a balanced outlook for 2026.
