The Power Module Packaging Market size is estimated at USD 2.5 billion in 2024, and is expected to reach USD 3.98 billion by 2029, growing at a CAGR of 9.78% during the forecast period (2024-2029).
A power module or power electronic module acts as a physical container for storing several power components, usually power semiconductor devices. Packaging plays a crucial role in the shift toward higher power densities, which enables more efficient power supplies, faster conversion, power delivery, and improved reliability. As the world is shifting toward faster-switching frequencies and higher power densities, there is a related shift in packaging materials used for wire bonding, die-attach, substrates, and system cooling.
The power module packaging market is semi-consolidated, with the presence of major players like Fuji Electric Co. Ltd, Infineon Technologies AG, Mitsubishi Electric Corporation, Semikron Danfoss Holding A/s (Danfoss A/S), and Amkor Technology Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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