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New Packages and Materials for Power Devices Market By Package Type and Material (Chip-Scale Packaging, Wire Bonding Packaging, Silicon Carbide (SiC), Gallium Nitrid (GaN), Gallium Arsenide (GaAs) and Others), By End-Use (Automotive, Telecommunications and Computing, Electronics, Industrial and Others) and Region - Global Forecast Till 2032

ID: MRFR/E&P/6025-CR | 111 Pages | Author: Anshula Mandaokar| February 2019

New Packages and Materials for Power Devices Market Overview:

New Packages and Materials for Power Devices Market Size was valued at USD 2.5 bn in 2023. The New Packages and Materials for Power Devices Market industry is projected to grow from USD 2.88 bn in 2024 to USD USD 5.9 bn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.40% during the forecast period (2024 - 2032). 

New Packages and Materials for Power Devices Market Overview1

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Packages and materials for power semiconductors have progressed tremendously over the years. During the review period, the global novel packages and materials for power devices market is predicted to rise at a high rate. Demand for powered semiconductors market is expected to stay high throughout the forecast period, owing to growing applications in computers and telecommunications. Wide bandgap (WBG) materials like gallium nitride (GaN) and silicon carbide (SiC) market are becoming more common in packaging materials as the demand for increased power density grows.

People are currently utilizing sustainable and renewable energy to help lessen the worldwide fossil energy issue. As a result, there is a growing demand for sustainable energy. As a result of the worldwide interest in automotive powered electronic devices and efforts to popularise hybrid electric vehicles (HEVs) and electric vehicles (EVs), the automotive module has experienced rapid growth. As a result, the market for power module packaging is growing. Furthermore, to improve performance and reduce losses, more powerful electronic applications are using power modules rather than discrete components. As a result, mastering power module assembly is a must for manufacturers, and it is expected to promote packaging design innovation.

Power Electronic Devices Market Companies Covered

STMicroelectronics, SEMIKRON, Efficient Power Conversion Corporation, NXP Semiconductor, ROHM SEMICONDUCTOR, Amkor Technology, Littelfuse, Remtec, Inc., ON Semiconductor, MITSUBISHI ELECTRIC CORPORATION, Orient Semiconductor Electronics Ltd., ROHM SEMICONDUCTOR, Infineon Technologies AG and Exagan.

Industry News

Infineon Technologies Ag expanded its CoolSiCTM power module line for UPS and energy storage applications in February 2019. The CoolSiC 2B power modules, according to Infineon, allow engineers to cut total system costs by enhancing power density. When compared to silicon alternatives, the device has an 80 percent lower switching loss, allowing inverter efficiency levels to reach above 99 percent.

Fuji Electric Co. Ltd, Infineon Technologies AG, and Mitsubishi Electric Corporation are among the prominent participants in the market. It is a fast-paced market that necessitates constant innovation and material improvements, as well as significant R&D expenditure. Furthermore, to compete in an open market, power module manufacturers must provide excellent reliability while remaining cost-effective.

New Packages and Materials for Power Devices Market Report Coverage

Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market.

For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for new packages and materials for power devices

By Package Type and Material

  • Chip-scale packaging

  • Wire bonding packaging

  • Silicon carbide (SiC)

  • Gallium nitrid (GaN)

  • Gallium arsenide (GaAs)

  • Others (Hermetic packaging and Cu Clip packaging)

By End-Use

  • Automotive

  • Telecommunications and computing

    • Computing and telecommunication

    • Datacenters

    • Gaming systems

    • Cryptocurrency

  • Electronics

  • Industrial

  • Others

    • Aerospace & defense

    • EV charging stations

    • Energy generation

    • Storage

By Region

  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)

Research Methodology

MRFR employs highly advanced research structure. Primary and secondary research techniques form the foundation of the research structure.  Primary research inputs are mainly derived from interviews and interactions with key personnel. A bulk of secondary resources such as white papers, paid database, investor presentations, authenticated directories, etc. are utilized for affirmation of the gathered information. In addition, a multilayered evaluation process is used for confirming the accuracy of the data. Furthermore, top-down and bottom-up approaches are undertaking for ensuring zero discrepancy.

Other Description

  • Market Denomination- USD Mn

  • Base Year- 2021

  • Forecast Period- from 2022 to 2030

Report Attribute/Metric Details
Market Size 2023 USD 2.5 bn
Market Size 2024 USD 2.88 bn
Market Size 2032 USD 5.9 bn
CAGR   9.40% (2024-2032)
Base Year   2023
Forecast Period   2024-2032
Historical Data   2019 & 2021
Forecast Units   Value (USD Million)
Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered   Package Type, Material, End-Use
Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
 Key Vendors   STMicroelectronics, SEMIKRON, Efficient Power Conversion Corporation, NXP Semiconductor, ROHM SEMICONDUCTOR, Amkor Technology, Littelfuse, Remtec, Inc., ON Semiconductor, MITSUBISHI ELECTRIC CORPORATION, Orient Semiconductor Electronics Ltd., ROHM SEMICONDUCTOR, Infineon Technologies AG and Exagan
 Key Market Opportunities   New product launches and R&D Amongst major key Players
 Key Market Drivers increasing application in computers and telecommunication demand for power semiconductors

Frequently Asked Questions (FAQ) :

A CAGR of roughly 9.40% is estimated to benefit the market extensively.

Littelfuse, Efficient Power Conversion Corporation, ON Semiconductor, ROHM SEMICONDUCTOR, NXP Semiconductor, and Infineon Technologies AG are the key players in the market.

The Asia Pacific region is expected to stimulate the market.

The growing applications in computers and telecommunication are projected to motivate the market.

The lack of proper production facilities may restrict market growth.

The income worth USD 2,567.2 Mn is predicted to be garnered by the market in the impending period.

The trend relating to next-gen SiC material is expected to motivate the market.

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