Power Module Packaging Market - Growth, Trends, and Forecast (2019 - 2024)

The Power Module Packaging Market is segmented by Component (Substrate, Baseplate, Die Attach and Substrate Attach, Encapsulations, and Interconnections) and Geography.

Market Snapshot

summary
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Europe

Largest Market:

Asia Pacific

CAGR:

9.79%

Key Players:

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Market Overview

The power module packaging market was valued at USD 1.53 billion in 2018, and it is expected to reach a value of USD 2.44 billion by 2024, at a CAGR of 9.79%. Currently people are exploiting sustainable and clean energy to mitigate the global crisis of fossil energy. Thus, the demand for sustainable energy is increasing. So, with the global interests and efforts to popularize hybrid electric vehicle (HEV) and electric vehicle (EV), the automotive module has seen steep growth. In turn, driving the power module packaging market.

  • Moreover, more powerful electronic applications are deploying power modules instead of discrete components, in order to increase performance and reduce losses. Thus, mastering power module assembly is mandatory for manufacturers and is set to fuel innovation in the packaging design.
  • For instance, in January 2018, Mitsubishi Electric Corporation announced that it has developed a 6.5 kV full silicon carbide (SiC) power semiconductor module that is believed to offer the highest power density among other power semiconductors modules rated from 1.7 kV to 6.5 kV.
  • Additionally, the growing dependence on automation and power electronics across various industries has made the need for backup power protection more crucial, to ensure no disruptions in the business model, which is expected to boost the adoption of UPS systems at a healthy rate, further driving the demand for power modules.
  • However, common failure in a power module caused by thermal cycling and mismatch of coefficient of thermal expansion (CTE) result in layers to detach one from the other, thus restraining the market.

Scope of the Report

A power electronic module or power module acts as a physical container for the storage of several power components, usually power semiconductor devices. The market growth is driven by a reduction in wastage of energy, use of efficient distributed cooling schemes, reduction in footprint, and consequent increase in power density. Moreover, the growing demand for power modules in the industrial and consumer electronics sector is set to drive the power module packaging market.

 

By Technology
Substrate
Baseplate
Die Attach
Substrate Attach
Encapsulations
Interconnections
Geography
North America
Europe
Asia-Pacific
Rest of the World

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Key Market Trends

Increasing Focus on Renewable Energy to Drive the Market Growth

  • According to the International Renewable Energy Agency, in 2018, global renewable generation capacity amounted to 2,351 GW. It showed an increase of 7.9%, compared to last year. Wind and solar energy accounted with capacities of 564 GW and 486 GW, respectively. 
  • As power modules in renewables are used in wind turbine inverters, photovoltaic inverters, and micro-inverters, they are expected to witness an increased adoption. Power modules in PV enable the control systems to get power from the solar panels directly and ensure reliable operation. Thus, the growing adoption of solar power is likely to drive the demand for power modules. In turn, this is driving the power module packaging demand.
  • In 2018, Sierra Club and SunPower partnered to help create a sustainable future. This alliance between SunPower and the Sierra Club further helped the Sierra Club's overall efforts to advance climate solutions and move the US toward 100% renewable energy.
trend

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Asia-Pacific is Expected to Register the Highest Growth Rate

  • According to the IRENA, renewable capacity expansion continues to be driven mostly by new installations of solar and wind energy. These accounted for 84% of all new capacity installed in 2018. Asia accounted for 61% of new capacity installations in 2018.
  • Renewable capacity expansion continues to be driven mostly by new installations of solar and wind energy. These accounted for 84% of all new capacity installed in 2018. China continued to account for most expansion in wind energy, with increases of 20 GW. Meanwhile India expanded for more than 1 GW in 2018.
  • On the same time, the increasing industrialization and the booming urban population in the region are expected to boost car ownership. The governments of countries, like China and India, where the pollution is rampant, are taking actions to reduce the pollution issue, thereby resulting in the rise in sales of the alternative fuel engines and green vehicles, such as the micro, mild, and full-hybrid vehicles.
region

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Competitive Landscape

The power module packaging market is fragmented because of many major players are in this market. Some of the major players are Fuji Electric Co. Ltd, Infineon Technologies Ag, and Mitsubishi Electric Corporation, among others. It is a very dynamic market, where continuous innovations and material enhancements and a lot of R&D investment are needed. Additionally, to remain competitive in an open market, power module makers must deliver high reliability, while remaining cost-efficient.

  • February 2019 - Infineon Technologies Ag extended its portfolio of CoolSiC™ power modules for UPS and energy storage applications. Infineon claimed that the CoolSiC 2B power modules enable engineers to reduce total system costs by increasing power density. The product is capable of 80% lower switching losses, compared to silicon variants, maximizing the inverter efficiency levels to reach over 99%.

 

Major Players

  1. Fuji Electric Co. Ltd
  2. Infineon Technologies AG
  3. Mitsubishi Electric Corporation (Powerex Inc.)
  4. Amkor Technology Inc.
  5. Hitachi Ltd

* Complete list of players covered available in the table of contents below

concenta

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increasing Demand from the Industrial and Consumer Electronics Segment

      2. 4.3.2 Rising Demand for Energy-efficient Devices

    4. 4.4 Market Restraints

      1. 4.4.1 Slow Adoption of New Technologies Derailing Innovation

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 TECHNOLOGY SNAPSHOT

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Technology

      1. 5.1.1 Substrate

      2. 5.1.2 Baseplate

      3. 5.1.3 Die Attach

      4. 5.1.4 Substrate Attach

      5. 5.1.5 Encapsulations

      6. 5.1.6 Interconnections

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Europe

      3. 5.2.3 Asia-Pacific

      4. 5.2.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      *List Not Exhaustive
    2. 6.2 Fuji Electric Co. Ltd

    3. 6.3 Infineon Technologies AG

    4. 6.4 Mitsubishi Electric Corporation (Powerex Inc.)

    5. 6.5 Semikron

    6. 6.6 Amkor Technology Inc.

    7. 6.7 Hitachi Ltd

    8. 6.8 STMicroelectronics NV

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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