Electronic Power Packages Market: Introduction
- Electronic packaging is the enclosure for electronic devices, which ranges from individual semiconductor devices to systems such as mainframe computers. The packaging provides protection from mechanical damage, cooling, noise emission, and electrostatic discharge.
- Electronic power packages use silicon devices and lead-free solder alloys in its construction. Manufacturers of power electronics are transitioning to devices with wide band gap materials for improved performance, reliability, and cost. Further, high temperature bonded interface materials are facilitating compact, lightweight, low cost, and reliable electronic power packaging.
- Electronic power packages have applications in various industries such as automotive, aerospace & defense, consumer electronics, industrial, and other industries where power electronics are used.
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Increasing need for power packages due to environmental and technical requirements
- The need for electronic power packages is increasing due to growing technical requirements from manufacturers of electronic devices as well as environmental mandates from governments. The increasing power density and power conversion optimization for power electronics will cause CO2 emission reduction. Hence, technological advancements are required for devices to achieve government targets and volume content.
- Moreover, the growing importance of wide band gap semiconductors makes electronic power packages mandatory. These factors are driving the growth of the electronic power packages market.
Increasing usage of electronic packaging by aerospace and defense industry
- Increasing investment by governments in aerospace and defense, and rising export of weapons is fueling the electronic power packages market. Several equipment in aerospace and defense such as data processing units and data display units are loaded with semiconductor devices, which need electronic power packages.
- Moreover, high power electronic devices play an important role in improvement of grid reliability, and are used in energy storage systems and other applications. These factors are creating opportunities for the electronic power packages market.
Maximum Growth to be observed in the Asia Pacific Market
- In terms of region, the global electronic power packages market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The electronic power packages market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
- This growth is attributed to a wide range of applications in industries such as automobile, aerospace & defense, and consumer electronics, adoption of advanced technologies by countries such as Japan, Taiwan, and China, increasing investments, rising industrialization, and other factors. This is expected to increase the demand for electronic power package products.
- The electronic power packages market in North America and Europe is also likely to witness high growth rate due to increasing competition among players, and focus on cost of production. The market in Middle East & Africa is likely to show slow growth rate.
Key Players in the Global Market
The global electronic power packages market is highly concentrated. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand for electronic power packages.
Key players operating in the global electronic power packages market include:
- ABB
- Infineon Technologies
- ON Semiconductor
- STMicroelectronics
- Others
Global Electronic Power Packages Market: Research Scope
Global Electronic Power Packages Market, by Industry Vertical
- Automotive
- Aerospace and Defense
- Consumer Electronics
- Industrial
- Energy and Power
- Others
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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