New Packages and Materials for Power Devices Market Size was valued at USD 2.3 bn in 2022. The New Packages and Materials for Power Devices Market industry is projected to grow from USD 2.5 bn in 2023 to USD USD 5.9 bn by 2032, exhibiting a compound annual growth rate (CAGR) of 15% during the forecast period (2023 - 2032).
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.
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.
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.
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
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.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.3 bn |
| Market Size 2023 | USD 2.5 bn |
| Market Size 2032 | USD 5.9 bn |
| CAGR | 15% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| 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 |
New Packages Materials Power Devices Market Highlights:
Frequently Asked Questions (FAQ) :
A CAGR of roughly 15% 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.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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