A new market study, titled “Global New Packages and Materials for Power Devices Market Size, Status and Forecast 2020-2023” has been featured on Market Research Future.
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.
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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)
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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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