Power module revenue is projected to grow from $8 billion in 2023 to $16 billion by 2029

The power module packaging material market is on a trajectory of exponential growth, poised to double in value to $4.3 billion by 2029. With power modules emerging as indispensable components in power electronics systems, the packaging costs significantly influence the overall module expenses. Against this backdrop, Yole Group forecasts a robust 12.1% compound annual growth rate (CAGR) between 2023 and 2029, reflecting the escalating demand for innovative packaging solutions. Power module revenue is projected to soar from $8 billion in 2023 to $16 billion by 2029, with packaging materials accounting for about 30% of total module costs. The market is driven by advancements in die-attach and ceramic substrate materials, alongside the increasing size and complexity of power module packages. Yole Group's latest report, "Status of the Power Module Packaging Industry 2024," delves into emerging applications, packaging technologies, and the evolving business models within the power electronics industry, with a focus on the xEV market segment and SiC-based power modules.

Leading power module suppliers are concentrated in Europe ...