The global
new packages and materials for power devices market is expected to witness
a compound annual growth rate of 42.57% during the review period (2018-2023). Market
Research Future (MRFR) projects that the global new packages and materials for
power devices market will reach a valuation in excess of USD 2,500 by the year
2023, reflecting an impressive growth rate. 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.
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.
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)
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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