Vertical: SEMIBase Year: 2016
Market Size (2016)
$225.10M
Projected (2023)
$2.57B
CAGR (2015–2023)
41.1%
Key Players
13+
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).
The New Packages and Materials for Power Devices Market market is projected to grow at a CAGR of 41.1% from 2015 to 2023.
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View Subscription PlansNew materials and packages based on GaN and SiC materials have applications, such as integrated circuits, circuit boards, packaging materials, communication cables, optical fibre, displays, and various controlling and monitoring devices within electrical, electronics & microelectronics Industries, These GaN and SiC based devices help ensure power efficiency and reliability in electronic equipment circuits.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2016
Historical Period
2015 – 2015
Forecast Period
2017 – 2023
Primary Interviews
150+
Historical data (2015–2016) and forecast period (2016–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansIn competitive landscape, the report covers growth strategies adopted by the companies between 2017 and 2018. Companies adopted various strategies to achieve leading positions in the global new packages and materials for power devices market. The key strategies followed by most companies within the global new packages and materials for power devices market were product development and the merger & acquisition.
The key players of global new packages and material for power devices market are STMicroelectronics (Switzerland), Exagan (France), Efficient Power Conversion Corporation (US), Littelfuse (US), ON Semiconductor (US), SEMIKRON (Germany), NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), ROHM Semiconductor (Japan), Orient Semiconductor Electronics Ltd (Taiwan), Amkor Technology (US), Mitsubishi Electric Corporation (Japan), and Remtec, Inc (US).
Product Development is one of the strategies, primarily adopted by the companies, such as Littlefuse and Exagan to gain leading positions in the market. Companies such as NXP Semiconductors and STMicroelectronics also adopted product development in the global new packages and materials for power devices market. For instance, in November 2018, Exagan introduced G-FET power transistors and G-DRIVE intelligent, the new high-power conversion solutions for server and automotive applications.
Additionally, Littelfuse expanded its line of SiC power semiconductor device of five GEN2 Series 1200 V, 3L TO-247 Schottky Diodes, and three GEN2 Series 1200 V, 2L TO-263 Schottky Diodes.
Merger & Acquisition is the key strategy adopted by the companies, such as Littlefuse and Amkor Technology to enhance their position in the market. These two companies held a share of 50%, each during the period 2017–2018. For instance, in November 2018, Littelfuse acquired Monolith Semiconductor, Inc. (US), a company specialized in the development of silicon carbide power device technology to cater to the electronics market in the US and other parts of North America.
Furthermore, in May 2017, Amkor Technology completed the acquisition of Nanium S.A(Portugal), a provider of wafer-level fan-out (WLFO) semiconductor packaging solutions in order to strengthen its position in the packaging market.
The global new packages and materials for power devices market is primarily dominated by top companies, namely NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), STMicroelectronics (Switzerland), Littelfuse (US), ON Semiconductor (US), and ROHM Semiconductor (Japan). NXP Semiconductors held the largest market share of 11.49%, followed by Infineon Technologies AG with 10.74% and Mitsubishi Electric Corporation with 8.11%. The key strategies adopted by these companies are new product development and merger & acquisition.
Market estimates by geography (2023)
InsightAsia Pacific leads with $1.75B by 2023.
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View Subscription Plans| REGION | 2015 | 2016 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| North America | $37.90M | $132.90M | $479.20M | 37.3% | 19% |
| Europe | $33.40M | $90.90M | $254.40M | 28.9% | 10% |
| Asia Pacific | $71.30M | $348.40M | $1.75B | 49.2% | 68% |
| Rest of the World | $20.90M | $41.30M | $83.70M | 18.9% | 3% |
| Total | $163.50M | $613.50M | $2.57B | 41.1% | 100% |
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View Subscription PlansTotal Market Size
$2.57B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Packages | $1.45B | 36.1% | 56% |
| Material | $1.12B | 51.3% | 44% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on New Packages and Materials for Power Devices Market covering market dynamics, competitive landscape, and strategic outlook.
The New Packages and Materials for Power Devices Market market is projected to reach $2.57B by 2023, growing at 41.1% CAGR. The Packages segment holds the largest share.
Global new packages and materials for power devices market is expected to witness high growth during the forecast period with the growing electronics industry. There have been application areas where power packages and materials are extensively used in high voltage and medium voltage power devices. Also, increasing need for miniaturization, especially in semiconductor sector will drive the market for new packages & materials for power devices. Thus, there will be a rise in new packages and materials for power devices market during the forecast period.
Major developing economies such as China, India, Japan, and South Korea are investing in development and innovations in electronics gadgets, which creates demand for hermetically packaged devices. Asian countries present an opportunity for advanced packaged power devices. This holds a higher growth opportunity compared to other regions of the world. Electronics devices including sensors, optoelectronic component, laser diodes, and airbag initiator propellants are hermetically packaged for protection from external humidity, corrosion, and other natural influences. Increasing digitalization, building infrastructure, and regulatory support, and developments in reforms from governments are the primary factors enhancing the growth of hermetically packaged electronics devices.
Increasing applications in automotive industry and emerging optical networking industry in developing economies encourage the demand for hermetically packaged devices. For instance, according to the Automotive Component Manufacturers Association of India, the auto-components industry is anticipated to witness a turnover of USD 100 billion by 2020 backed by good exports range worth USD 80 - USD 100 billion by 2026.
Asia-Pacific is considered the potential market for electric vehicles. Electric vehicle industry is presents opportunity for Asian countries, which generates the demand for hermetically packages devices with favorable government initiatives and significant investments being made in charging infrastructure. According to International Renewable Energy Agency, electric vehicles in the market are expected to reach 200 million in 2020 from 2 million in 2016 in Asia-Pacific, which is expected to promote the growth of hermetically packaged electronics devices.
Raw material is a significant aspect of the process of new packages and materials used in power devices. The growing cost of raw material for setting up any package assembly has increased over a period of time; thus, contributing to the high manufacturing cost as it ensures exemplary packaging. Moreover, there is concern over the increased cost of launching new packaging technologies. For instance, IC companies are outsourcing packaging expertise by reducing the use of their own engineering resources for packaging technologies. This ultimately adds to the total cost of setting up the packaging technologies.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
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Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 108 companies operating in the New Packages and Materials for Power Devices Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Company Headquarters: Chicago, US Founded: 1927 Workforce: ~ 10,700 Company Working: Littelfuse is one of the leading manufacturers, designers, and solution providers of circuit protection products, which are used in power control & sensor technologies, automotive, and industrial markets. It has an extensive product portfolio of fuses, polymers, ceramics, relays, semiconductors, and sensors. It operates through three major business segments, namely, automotive, electronics, and industrial. The company generates most of its revenue from electronics segments as it highlights broadsets of products includes fuses, fuse accessories, polymer electrostatic discharge, positive temperature cofficient resettable fuses, suppressors, varistors, semiconductor and power semiconductor product, such as discrete transient voltage suppressor, diodes arrays, SiC, metal-oxide semiconductor field-effect transistor (MOSFETs), SiC diodes and insulated-gate bipolar transistor (IGBT) technologies. Littelfuse has employees consisting of engineers and scientists for continual improvement of its existing product line and to introduce new products by research, design, and development. The proposal for the research & development is mainly initiated primarily by the sales, marketing, material scientists, technicians, and other product management professionals, which includes contribution from the customers. Additionally, the company has a number of patents. The company is highly focused on improving the reliability, safety and performance of the products and systems that are used in any electrical systems. Currently, the company is highly involved in mergers and acquisitions to accelerate its growth, across the globe. As a global player, the company has manufacturing facilities in North America, Europe, and Asia-Pacific.
Company Headquarters: Arizona, US Founded: 1968 Workforce: ~29,300 Company Working: Amkor Technology is one of the leading providers of outsourced semiconductor packaging and test services. The company also provides turn-key test services and packaging including wafer probe, wafer bump, wafer back-grind, packaging, package design, and drop shipment services. Integrated device manufacturers (IDMs) to reduce their capital expenditure on research tend to outsource parts of its manufacturing responsibilities to companies such as Amkor, which are in the business of IC packaging and testing. The company offers its products through four segments, namely packaging, technology, services, and applications. Under the packaging segment, the company offers products under the subcategories such as laminate, lead frame, power discrete, and wafer level. Amkor has strategically positioned its offices, globally to reach a wider client base. It has offices in the countries including the US, France, Germany, China, Korea, Japan, and Singapore. The company has about 20 factories in the countries of Japan, Korea, the Philippines, China, Malaysia, and Portugal.
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Company Headquarters: Kaohsiung, Taiwan Founded: 1971 Company Working: Orient Semiconductor Electronics Ltd (OSE) is in the business of manufacturing, assembling, processing, and the sale of integrated circuits, computer motherboards, parts of semiconductor, and related products. OSE operates through two business units, namely, the semiconductor group, and the EMS group. The semiconductor group provides IC packaging and testing services, while the EMS group provides professional electronics manufacturing services. OSE for its packaging services provides products under two segments advanced packages and leadframe packages. The packaging products offer services, including wafer probing, drop shipment, back grinding, dry baking and full assembly. The company has setup its offices in the countries of Taiwan, China, and the US. It has nine subsidiaries operating worldwide, which are almost completely owned by OSE. A few of its subsidiaries include Orient Semiconductor Electronics Philippines Inc., OSE International, Ltd, OSE USA, Inc, and Sparqtron Corp
Company Headquarters: Nuremberg, Germany Founded: 1951 Workforce: ~3,200 Company Working: Semikron is the Germany-based electronics company that offers key technologies for energy conservation for various industrial sectors. It offers an extensive range of products for power modules, intelligent power solutions, bare dies, power stacks, and power systems for different markets. Additionally, it is the provider of integrated circuit, transistor, diode, integrated circuit, thyristor power modules, power assemblies and other energy conservation efficient system for different industries, such as automotive, energy & power, electronics, and telecommunications. It has been developing new technologies and innovative solutions regarding power solutions. It has an international network with production sites in countries, such as Brazil, China, India, Italy, Korea, Germany, Slovakia, and the US. These strategic sites of the company ensure satisfactory service to its customers. The company has around 25 subsidiaries, globally, which are equipped with multi-language sales and technical support. Its key end-use applications include motor drives, wind energy, solar energy, power quality, energy storage, utilities vehicle, car charger stations, process, and medical power supplies. Semikron offers silicon carbide power modules in full silicon carbide power modules and hybrid silicon carbide power modules segments. In Full silicon carbide (SiC), it offers power modules in MiniSKiiP, SEMITOP and SEMITRANS housings whereas in hybrid SiC, the company offers power modules MiniSKiiP, SEMITRANS, SEMiX 3 Press-Fit and SKiM63/93.
Company Headquarters: US Founded: ~35,700 Workforce: 1999 Company Working: ON Semiconductor Corporation (ON Semiconductor) is a provider of power and signal management, logic, analog, sensors, timing, connectivity, system on chip (SoC), discrete, and custom solutions. It operates through three business segments—power solutions, analog solutions, and image sensors. The power solutions segment offers an array of discrete, modular, and integrated semiconductor products that perform multiple functions, including power switching, signal conditioning, circuit protection, signal amplification, and voltage reference. The analog solutions segment covers analog, mixed-signal and advanced logic application-specific integrated circuits (ASIC), and application-specific standard products (ASSP) solutions mainly used for automotive, consumer electronics, computing, industrial, communications, medical, and aerospace & defense markets. The image sensor group segment includes complementary metal oxide semiconductor and charge-coupled device image sensors, proximity sensors, image signal processors, and actuator drivers for autofocus and image stabilization. The company has design centers, solution engineering centers, and manufacturing facilities in North America, Europe, and Asia. In March 2019, the company acquired Quantenna Communications, a leading provider of Wi-Fi solutions.
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Historical performance and future projections (2020–2030, USD Billion)
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