New Packages and Materials for Power Devices Market Overview:

New Packages And Materials For Power Devices Market is expected to witness a compound annual growth rate of 45% during the review period (2021-2027), USD 5,870.1 Million 2027.

Power devices such as power transistors, metal-oxide-semiconductor field-effect transistor (MOSFET), medium-chain triglyceride (MCT), Diode alternating current (DIAC), silicon-controlled rectifiers (SCR), power diodes, triode for alternating current (TRIAC) and insulated-gate bipolar transistor (IGBT) are sought-after power electronic components. They are widely used in the electronics manufacturing sector due to their high-performance capacity.

SIC (silicon carbide) and GaN (gallium nitride) have emerged as the preferred material for making packages for high-intensity semiconductors and power devices. Such materials can support high temperature power circuits and withstand high voltage. On the back of growing need for high-voltage power supply, power devices witness a strong demand worldwide. Manufacturers are actively focusing on usage of advanced packages and materials for power devices in order to improve their efficiency. In addition, power device packages such as hermetic packaging, wire bonding packaging, and chip-scale packaging are also witnessing widespread popularity. Demand for power devices in wireless systems, building systems and automotive systems is on the rise.

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The emphasis places on development of semiconductor technology that can facilitate energy saving is likely to reflect favorably on the market. Policy makers all over the world are introducing policies that promote installation of energy-efficient systems. In recent years, there has been an upward trend in adoption of solar power systems and energy management systems.

Global New Packages and Materials for Power Devices Market: Segmental Analysis

MRFR’s report includes a detailed segmental analysis of the market based on end use and package type material. By end use, the market has been segmented into telecommunications and computing (datacenters, computing and telecommunication, cryptocurrency, and gaming systems), industrial, electronics, automotive and others (EV charging stations, aerospace defense, and energy generation and storage. The automotive segment commands more than one-third share of the market in terms of value. During the assessment period, the segment is expected to post 52.45% CAGR. By package type and material, the market has been segmented into wire bonding packaging, Gallium Nitrid (GaN), chip-scale packaging, Gallium Arsenide (GaAs), silicon carbide (SiC) and other (Cu clip packaging and Hermetic packaging).

Global New Packages and Materials for Power Devices Market: Regional Outlook

Regions covered in the report include North America, Europe, Asia Pacific (APAC), Latin America and the Middle East Africa (MEA). Asia Pacific accounts for the lion’s share of the global market in terms of value. The market in the region is currently valued at over USD 150 Mn and is projected to witness a CAGR of 49.58% between 2018 and 2023. The region has continued to witness tremendous industrialization and urbanization.

Growth of the semiconductor industry in APAC is driving the demand for packages and material for semiconductors. North America is the second largest market for packages and materials for power devices. The market in the region surpassed a valuation of USD 70 Mn in 2017. The U.S. is an important investment destination for market players and like to present lucrative growth opportunities in the coming years. During the review period, the market in North America is set surge at a CAGR of 37.67%. Rapid adoption of net-gen electronics gadgets and systems across various industry verticals is boosting the market potential in North America. 

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Global New Packages and Materials for Power Devices Market: Competitive Landscape

MRFR in its reports mentions some of top-notch market players, which include Littelfuse, Remtec, Inc., MITSUBISHI ELECTRIC CORPORATION, Amkor Technology, Orient Semiconductor Electronics Ltd., Infineon Technologies AG, SEMIKRON, ROHM SEMICONDUCTOR, STMicroelectronics, NXP Semiconductor, Exagan, ON Semiconductor, and Efficient Power Conversion Corporation.