New Packages And Materials For Power Devices Market, Are Expected To Drive Market Expansion In The Near Future At A CAGR Of 9.44% During The Forecast Period 2025 To 2035

Market Research Future (MRFR) has published a cooked research report on the “Global New Packages And Materials For Power Devices Market” that contains information from 2019 to 2035.

The Global New Packages And Materials For Power Devices Market is estimated to register a CAGR of 9.44% during the forecast period of 2024 to 2035.

MRFR recognizes the following companies as the key players in the Global New Packages And Materials For Power Devices Market— include Infineon Technologies, STMICROELECTRONICS, Texas Instruments, Mitsubishi Electric Corporation, Rohm Semiconductor, NXP Semiconductors N.V, Analog Devices, On Semiconductors, Microchip Technology, WOLFSPEED, Inc, among others.

New Packages and Materials for Power Devices Market Highlights

The Global New Packages And Materials For Power Devices Market is estimated to register a CAGR of 9.44% during the forecast period and is estimated to reach USD 6.78 Billion by 2035.

Efficiency and speed are two of the leading requirements prompting innovations in packaging and materials technologies for power devices. This trend has led to a transformation of the industry, which has, in turn, driven manufacturers to come up with new solutions catering to the changing demands of a wide spectrum of sectors like Automotive, Industrial, and Consumer Electronics. The efficiency and speed of power devices are the major players that directly influence the performance and reliability of systems that these kinds of devices bring into the system.

The immediate need for greater efficiency and speed has propelled the quick integration of advanced packaging technologies, including chip-scale package (CSP) and system-in-package (SiP) solutions. These packaging techniques enable higher component density and advanced thermal management, which ensures optimal performance and reliability in ultracompact, high-power applications. This requirement has taken the shape of, among many others, interest in gallium nitride (GaN) and silicon carbide (SiC) materials for their much superior electrical properties over traditional silicon-based devices. GaN and SiC allow faster-switching speeds, higher voltage ratings, and improved thermal handling, leading to greater power conversion efficiency and lower energy losses. The rapid adoption of rapid-charging solutions for smartphones and laptops is a clear example of this transition to advanced materials and packaging solutions, with GaN-based transistors used for the first time in this application - as major brands welcome faster charging times and greater energy efficiency.

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Segment Analysis

The Global New Packages And Materials For Power Devices Market has been segmented based on By Product Type, By Application.

Based on Product Type, New Packages and Materials for Power Devices market is segmented into: On-Board (COB) , Wire Bonding Packaging, Gallium Arsenide (GaAs), Gallium Nitride (GAN), Silicon Carbide (SIC), Other Packages/Material. The Silicon Carbide (Sic) segment dominated the global market in 2024, while the Gallium Nitride (Gan) is projected to be the fastest–growing segment during the forecast period.

Silicon carbide (SiC) power devices are advanced semiconductor components that utilize silicon carbide as the primary material, offering superior performance compared to traditional silicon-based devices. SiC power devices are known for their high efficiency, high voltage operation, and excellent thermal conductivity. These attributes make SiC power devices ideal for high-power and high-temperature applications, where they provide significant benefits in terms of energy efficiency, size reduction, and overall system performance. Several leading companies in the semiconductor industry are actively involved in the manufacturing of SiC power devices, each employing various techniques and materials to optimize performance and reliability. Infineon Technologies AG specializes in power electronics and has a strong focus on SiC technology for applications in automotive and industrial sectors. Infineon's SiC power devices include MOSFETs and diodes, designed to enhance efficiency and thermal performance in electric vehicles and renewable energy systems.

Based on Application, New Packages and Materials for Power Devices market is segmented into: Automotive , Consumer Electronics, Industrial , IT & Telecommunications, Military & Aerospace, Others . The Automotive segment dominated the global market in 2024, while the Consumer Electronics is projected to be the fastest–growing segment during the forecast period.

In the automotive sector, new packaging and materials for power devices are witnessing substantial growth, driven by the increasing adoption of electric vehicles (EVs) and advanced driver-assistance systems (ADAS). Major companies at the forefront of manufacturing these power devices with innovative packaging and materials include Wolfspeed Inc., Infineon Technologies AG, ON Semiconductor, STMicroelectronics, and Texas Instruments. These companies are leveraging advancements in wide bandgap semiconductors, such as silicon carbide (SiC) and gallium nitride (GaN), to develop power devices that offer superior efficiency, thermal management, and reliability.

The growth in new packaging and materials for automotive power devices is primarily driven by the stringent requirements of modern automotive applications. EVs, in particular, demand highly efficient power conversion and management systems to maximize battery life and driving range. SiC and GaN technologies are pivotal in meeting these demands due to their higher efficiency and ability to operate at higher temperatures and voltages compared to traditional silicon-based devices. Additionally, the shift towards more sophisticated ADAS and autonomous driving features necessitates advanced power devices that can support complex electronics and sensor systems while maintaining safety and performance standards.

Regional Analysis

The global New Packages And Materials For Power Devices market is segmented into North America, Europe, Asia-Pacific, South America/ Latin America and Middle East & Africa. The Asia Pacific region accounted for the largest market share with a market value of USD 1.43 Billion in 2024 and is anticipated to reach USD 3.43 Billion by 2035 witnessing growth at a CAGR of 9.71% from 2024 to 2035. The Middle East & Africa region held the largest market share in the Global New Packages And Materials For Power Devices market in 2024.

Asia Pacific remains the largest and fastest-growing region for new packages and materials in power devices, with revenues expected to rise from USD 1,242.50 million in 2023 to USD 3,010.59 million by 2032, reflecting a CAGR of 9.71%. The region's dominance is fueled by rapid industrialization, urbanization, and the adoption of advanced technologies across China, Japan, South Korea, and emerging Southeast Asian markets. Key players like Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics, and Mitsubishi Electric lead in semiconductor manufacturing, capitalizing on expanding market opportunities in automotive electronics, 5G infrastructure, and renewable energy.

The Middle East & Africa region demonstrates robust growth in the market for power devices, with revenues projected to increase from USD 126.00 million in 2023 to USD 314.81 million by 2032, reflecting a CAGR of 10.08%. The region's growth is driven by rapid urbanization, infrastructure development, and increasing investments in renewable energy projects. Companies such as Infineon Technologies AG and ON Semiconductor are expanding their footprint in the region, catering to the rising demand for reliable power solutions in sectors like oil & gas, telecommunications, and defense.

Key Findings of the Study

• The Global New Packages And Materials For Power Devices Market is expected to reach USD 6.78 Billion by 2035, at a CAGR of 9.44% during the forecast period.


• The Middle East & Africa region accounted for the fastest growing in the global market.


• Based on Application, the Automotive segment was attributed to holding the largest market in 2024.


• Infineon Technologies, STMICROELECTRONICS, Texas Instruments, Mitsubishi Electric Corporation, Rohm Semiconductor, NXP Semiconductors N.V, Analog Devices, On Semiconductors, Microchip Technology, WOLFSPEED, Inc , And among others are the key market players.