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“Hermetic packaging market projected to grow at a significant rate”
The hermetic packaging market is expected to grow from USD 3.25 billion in 2018 to 4.52 billion by 2023, at a CAGR of 6.80% between 2018 and 2023. The need of a packaging method that can protect highly sensitive electronic components for several years and the growing demand for hermetically packaged components from industries, such as automotive, electronics, and aeronautics and space, are some of the major drivers for the hermetic packaging market. However, stringent military standards for hermetic packaging is a key factor restraining the growth of this market.
“Military & defense industry expected to capture the largest market share”
The military & defense industry is expected to capture the largest market share in 2018. High defense budget allocation by the North American countries?the US, Canada, and Mexico; and rising adoption of hermetically packaged components for border security needs by developing countries, such as China and India, across APAC are expected to contribute to the growth of the hermetic packaging market for the military & defense industry.
“Market for MEMS switches estimated to grow at the highest rate between 2016 and 2022”
Market for MEMS switches is expected to grow at the highest rate during the forecast period among all other applications. The increase in demand for complete automatization of automobiles in the automotive sector is expected to propel the growth of the MEMS switches market during the forecast period. However, the transistors are expected to capture the largest market share during the forecast period. Hermetically sealed transistors are widely used for designing telecommunication circuits and home appliances. This is the driving factor for the growth of the transistors market.
“APAC is the major region for the hermetic packaging market”
The market in APAC is expected to hold the largest share by 2023, and is estimated to grow at the highest rate. With the increasing population, energy needs of the countries in APAC are also expected to increase. Along with this, the developing countries, such as China and India, are expected to sustain the high GDP growth rate. These factors are expected to create huge opportunities for manufacturers of hermetically packaged components in APAC. Further, developing countries such as China, Japan, and India are now striving to compete in the space industry with the developed countries across the world. For instance, in August 2016, China launched the first-ever quantum satellite in an effort to develop an un-hackable communications system. Such efforts by the countries in APAC help sustain a competitive position in the space industry and is also expected to add to the growth of hermetic packaging market in APAC during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts.
The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1 = 55%, Tier 2 = 20%, and Tier 3 = 25%
- By Designation: C-Level Executives = 23%, D-level Executives = 59%, and Others = 18%
- By Region: North America = 30%, Europe = 40%, APAC = 20%, and RoW = 10%
The key market players profiled in the report are:
• Schott AG (Germany)
• AMETEK (US)
• Amkor Technology (US)
• Texas Instruments (US)
• Teledyne Microelectronics (US)
• Kyocera Corporation (Japan)
• Materion Corporation (Japan)
• Egide (France)
• Micross Components. (US)
• Legacy Technologies Inc. (US)
- The market is segmented on the basis of configuration into multilayer ceramic packages, metal can packages, and pressed ceramic packages.
- The market is segmented, on the basis of type, into ceramic-metal (CERTM) sealing, glass-metal sealing (GTMS), passivation glass, transponder glass, and reed glass.
- The market is segmented, on the basis of application, into transistors, sensors, lasers, airbag ignitors, photodiodes, oscillating crystals, MEMS switches, and others.
- The market is segmented, on the basis of industry, into military & defense, aeronautics and space, automotive, energy and nuclear safety, medical, telecommunications, consumer electronics, and others.
- The geographic analysis is done with regard to 4 major regions?North America, Europe, APAC, and RoW).
Reasons To buy this report:
From an insight perspective, this research report focuses on various levels of analysis?industry analysis (industry trends), market ranking analysis of top players, value chain analysis, and company profiles that discuss the basic views on the competitive landscape, emerging segments and the segments having a high growth potential in the hermetic packaging market, high-growth regions, and the market dynamics such as drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on hermetic packaging offered by the top players in the hermetic packaging market
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and product launches in the hermetic packaging market
- Market development: Comprehensive information about lucrative emerging markets along with the analysis of the hermetic packaging market across major regions
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall hermetic packaging market
- Competitive assessment: In-depth assessment of the market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the hermetic packaging market