The global market for new packaged and materials for power devices is set to surpass a valuation of USD 2,500 Mn by 2023-end forecasts Market Research Future (MRFR). There has been a sharp rise in demand for power devices like metal-oxide-semiconductor field-effect transistor (MOSFET), Diode alternating current (DIAC), power diodes, insulated-gate bipolar transistor (IGBT), power transistors, silicon-controlled rectifiers (SCR), medium-chain triglyceride (MCT), and triode for alternating current (TRIAC). This is mainly attributed to the increased application of power devices in the electronics manufacturing industry. Advances in technology has bolstered the performance capacity of power devices.
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The
growth of the semiconductor industry has augured well for the market. The
importance of power device semiconductor products has continued to increase.
The use of new materials such as GaN (gallium nitride) and SIC (silicon
carbide) in the manufacturing of power devices is increasing. These materials
offer higher durability and reliability. GaN or SIC based power devices can be used
in high-intensity power circuits that need to endure a higher level of
voltage.
The
growing need for high-performance electronic components is boosting the demand
for power devices. This, in turn, is driving the sales of power device packages
such as wire bonding packaging, chip-scale packaging and hermetic packaging.
The
market is also benefiting from the adoption of new-age building system
technology, wireless system technology, and automotive technology. Moreover,
increase focus on the adoption of energy-efficient technologies is creating
growth avenues for the market.
Segmental
Analysis
The
global market for new packages and
materials for power devices market
has segmented on the basis of package type & material and end use.
Based
on package type and material, key segments include chip-scale packaging,
silicon carbide (SiC), Gallium Nitrid (GaN), Gallium Arsenide (GaAs), and other
(Hermetic packaging and Cu clip packaging). Based on end-use, key segment
includes automotive, electronics, industrial, telecommunications and computing
(computing and telecommunication, datacenters, gaming systems, and
cryptocurrency), and others (energy generation and storage, aerospace &
defense and EV charging stations. Of these, the automotive segment is expected
to retain is top position in 2019 and beyond. This can be attributed to the
exponential growth of the automotive industry in recent years. It is projected
that the automotive segmented is set to exhibit a CAGR of 52.45% during the
forecast period.
Regional
Analysis
Europe,
North America, Latin America, the Middle East & Africa (MEA) and Asia
Pacific (APAC) are the key regions where the new package and materials for
power devices market has been assessed.
Of
these regions, Asia Pacific is at the top of the pecking order in terms of
revenue generation. Currently, the APAC market stands at a valuation of USD 150
Mn and is forecast to demonstrate a robust CAGR of 49.58% from 2018 to 2023.
The growth of the market is being driven the industrial growth and rapid
urbanization in countries such as China, India, and the ASEAN belt. At the same
time, the expansion of the semiconductor industry is also providing an impetus
to the market in APAC.
North
America holds the second spot in the global new packages and material for power
devices market. In 2017, the North America market stood at over USD 70 Mn. Led
by the U.S., the market in North America is leveraging from the presence of
various end-use industries. The U.S. remains the primary investment destination
for stakeholders. Attractive market opportunities are expected to arise in
North America during the forecast period. The market in the region is expected to
post 37.67% CAGR till 2023.
Competition
Dashboard
Some
of the top-notch companies operating in the global market for new packages and
materials include Remtec, Inc., Amkor Technology, Infineon Technologies AG,
STMicroelectronics, Exagan, Efficient Power Conversion Corporation, Littelfuse,
Orient Semiconductor Electronics Ltd., Mitsubishi Electric Corporation, Nxp
Semiconductor, Semikron, Rohm Semiconductor, and On Semiconductor.
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