Global New Packages and Materials for Power Devices Market 2020 to 2023

Posted by Anvi on January 31st, 2020

Global New Packages and Materials for Power Devices Market Overview

Due to technological advancement, development in packages and materials for power semiconductors has made them more sophisticated. Market Research Future (MRFR) has released a research report about the Global New Packages and Materials for Power Devices Market that concludes high-level maturation for this market at 42.57% CAGR between 2018 and 2023.

Important factors driving the global new packages and materials for power devices market growth include increasing application in computers and telecommunication, and demand for power semiconductors. The use of a wide bandgap (WBG) materials such as gallium nitride (GaN) and silicon carbide (SiC) is increasing in packaging materials due to the growing need for higher power density.

Global New Packages and Materials for Power Devices Market Segmentation

The global new packages and materials for power devices market segmentation covers package type & material, and end-use. MRFR is exploring the features of these segments to understand market trends.

Based on end-use, this market is being segmented into automotive, electronics, industrial, telecommunications & computing, and others. The telecommunications & computing segment has been sub-segmented into computing & telecommunication, cryptocurrency, datacenters, gaming systems, and others. The “others” segment features aerospace & defense, electric vehicle (EV) charging stations, energy generation, and storage.  The automotive segment holds more than one-third of the market share in terms of value. During the forecast period, this segment is expected to rise at 52.45% CAGR.

The package type & material segment covers chip-scale packaging, gallium arsenide (GaAs), GaN, SiC, wire bonding packaging, and others. The “others” segment includes hermetic packaging and cu clip packaging.

Regional Segmentation

The regional segmentation of the global New packages and materials for power devices market covers Asia Pacific, Europe, North America, and Rest of the World (RoW).

The Asia Pacific region holds the lion's share in the global market, and by the end of the forecast period, it is expected to grow at 49.58% CAGR. In this region, the market is surging due to immense industrialization and urbanization. Growth of the semiconductor industry is also boosting the surge in the market. The determining country-specific markets regarding high revenue are China, India, Japan, and South Korea. Other countries of the Asia Pacific region also contribute significantly to market revenue.

North America is the second largest regional market as the USA receives a lot of investment from major service providers in this market. Other reason for the market growth in North America includes rapid adoption of next-gen electronics gadgets and systems across various industry verticals. During the forecast period, the North American market has been estimated to grow at 37.67% CAGR. Canada and Mexico are two other important country-specific markets in this region.

In Europe, the market is growing due to the presence of heavily industrialized economies like France, Germany, Italy, and the UK. Remaining countries of this region also bring revenue to the European market. Some of the key market players are operating in Europe too.   

The RoW segment covers South America and the Middle East & Africa (MEA) region. In South America, the market is limited because technological advancement in this region is slower than that in North America. Two economies that can be crucial markets in this region are Argentina and Brazil. In the MEA region, the market growth is slow due to limited availability of technology, lack of infrastructure, and lack of skilled professionals.

Key Players

Major players in the global new packages and materials for power devices market include Amkor Technology (USA), Efficient Power Conversion Corporation (USA), Exagan (France), Infineon Technologies AG (Germany), Littelfuse (USA), Mitsubishi Electric Corporation (Japan), NXP Semiconductor (Netherlands), ON Semiconductor (USA), Orient Semiconductor Electronics Ltd. (Taiwan), Remtec Inc. (USA), Rohm Semiconductor (Japan), Semikron (Germany), and STMicroelectronics (Switzerland).

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