New Packages and Materials for Power Devices Market By Package Type & Material (Chip-Scale Packaging, Wire Bonding Packaging, Silicon Carbide (SiC), Gallium Nitrid (GaN), Gallium Arsenide (GaAs)), By End-Use (Automotive, Telecommunications & Computing, Electronics) and Region - Forecast to 2023
Pune, India - August 5, 2019 /MarketersMedia/ —
Global new packages and materials for power devices market is projected to soar at a CAGR 42.52% during the assessment period (2018-2023) and reach a valuation in excess of USD 2,500 by the year 2023, reflecting an impressive growth rate.
New packages and materials for power devices are witnessing a rapid uptake in automotive systems, building systems, and wireless systems. Increased focus on developments in energy saving power semiconductor devices has enabled rapid industrialization, and installation of high-efficiency energy systems, such as energy management systems, and solar power systems. Next-gen SiC material will remain a key component for energy saving in electric vehicles in the foreseeable future.
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Power devices including power diodes, power transistors, silicon-controlled rectifiers (SCR), metal-oxide-semiconductor field-effect transistor (MOSFET), insulated-gate bipolar transistor (IGBT), medium-chain triglyceride (MCT), triode for alternating current (TRIAC), and Diode alternating current (DIAC) form an integral part of the power electronics industry.
Competition Tracking
Some of the notable companies operating in the global new packages and materials for power devices market include SEMIKRON, STMicroelectronics, Exagan, Efficient Power Conversion Corporation, Littelfuse, ON Semiconductor, NXP Semiconductor, Infineon Technologies AG, Rohm Semiconductor, Orient Semiconductor Electronics Ltd., Amkor Technology, Mitsubishi Electric Corporation and Remtec, Inc.
Segmental Analysis
The segmental analysis for the global new packages and materials for power devices market has been conducted on the basis of on package type and material, end use and regions.
Based on package type and material, the market has been segmented into chip-scale packaging, wire bonding packaging, silicon carbide (SiC), Gallium Nitrid (GaN), Gallium Arsenide (GaAs) and others (Hermetic packaging and Cu clip packaging).
On the basis of end-use, the market has been segmented into automotive, telecommunications and computing (computing and telecommunication, datacenters, gaming systems, and cryptocurrency), electronics, industrial and others (aerospace & defense, EV charging stations, and energy generation and storage).
In terms of value, the automotive segment accounted for 36.29% in 2017, with a market valuation of USD 113.2 Mn. In addition, the segment is poised to capture a robust CAGR of 52.45% during the forecast period.
Regional Outlook
On the basis of region, the global new packages and materials for power devices market include Asia Pacific (APAC), North America, Europe, the Middle East & Africa (MEA) and Latin America.
In terms of values, Asia-Pacific region currently accounts for the largest market share. In 2017, market in APAC was valued at USD 157.1 Mn and is projected to exhibit a CAGR of 49.58% during the assessment period. Asia-Pacific is one of the fastest growing market for novel packaging materials for power devices.
Factors such as rapid digitization and replacement of legacy technologies are reflecting favorably on the market in the region. APAC is closely followed by North America. In 2017, the market in North America was valued at USD 70.7 Mn. Advanced economies in North America such as the U.S. and Canada are likely to play an important role in driving the market in region, which is likely to post a CAGR of 37.67% CAGR. Increased use of electronic gadgets in automotive industry, charging stations and within electric vehicle infrastructure drives the demand for the package and material in power devices market.
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