New Packages and Materials for Power Devices Market

Power devices including power diodes, power transistors, silicon-controlled rectifiers (SCR), metal-oxide-semiconductor field-effect transistor (MOSFET), insulated-gate bipolar transistor (IGBT), medium-chain triglyceride (MCT), triode for alternating current (TRIAC), and Diode alternating current (DIAC) form an integral part of the power electronics industry. Due to its switching capabilities and high-power efficiency these power devices are widely used in electric circuits. In power devices, materials such as GaN (Gallium Nitride) and SiC (Silicon carbide) are used in advanced packaging technologies to help the power devices withstand high voltage and high temperature power circuits.

This report covers brief information on new packages and materials used in the power devices. There is requirement of power devices with high-voltage, high-efficiency, and high-power density due to the increased energy production in industrial and automotive sector. New materials such as GaN and SiC have created an opportunity for the power devices market to attract the most significant semiconductor players. Additionally, power devices packages such as chip-scale packaging, wire bonding packaging, and hermetic packaging have contributed to the growth of new package & material in power devices market. Primarily, the new packages and materials for power devices have their dominance in automotive systems, building systems, and wireless systems. For instance, the on-going developments in energy saving power semiconductor devices have enabled rapid industrialization, and in high-efficiency energy systems, such as energy management systems, and solar power systems, next-generation SiC material is used for energy saving in electric vehicles.

The new packages and materials for power devices is projected to progress at 42.57% CAGR during the forecast period and is expected to be valued at USD 2,567.2 million by 2023. Asia-Pacific region accounts for the largest market share of 50.35% and is very closely followed by North America region with 22.68%.

The global market for new packages and materials for power devices is segmented based on package, material, end use and regions. On the basis of package, the market is classified into chip-scale packaging, wire bonding packaging, and others (Hermetic packaging and Cu clip packaging). On the basis of material, global new packages and materials for power devices is segmented into SiC, GaN, and Gallium Arsenide (GaAs). On the basis of end-use, the segments considered are automotive, telecommunications and computing (computing and telecommunication, datacenters, gaming systems, and cryptocurrency), electronics, industrial, and others (aerospace & defense, EV charging stations, and energy generation and storage).