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.
SIC (silicon carbide) and GaN (gallium nitride) have emerged as the preferred material for making packages for high-intensity semiconductors and power devices. Such materials can support high temperature power circuits and withstand high voltage. On the back of growing need for high-voltage power supply, power devices witness a strong demand worldwide. Manufacturers are actively focusing on usage of advanced packages and materials for power devices in order to improve their efficiency. In addition, power device packages such as hermetic packaging, wire bonding packaging, and chip-scale packaging are also witnessing widespread popularity. Demand for power devices in wireless systems, building systems and automotive systems is on the rise.
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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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