NEW YORK, Dec. 8, 2016 /PRNewswire/ --
"The hermetic packaging market projected to grow at a significant rate"
The hermetic packaging market is expected to grow from USD 2.91 billion in 2016 to USD 4.29 billion by 2022, at a CAGR of 6.68% during the forecast period. The need of a packaging method which can protect highly sensitive electronic components for many years and the growing demand of hermetically packaged components from the end-user industries such as automobile 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 that is restraining the growth of the hermetic packaging market.
"Military and defense industry expected to capture largest market share"
The military and defense industry is expected to capture the largest market share among all the industries. The high defense budget allocation by the North American countries such as the U.S., Canada, and Mexico and developing countries in APAC region such as India and China for countering terrorism and border security has been the key driving factor for the military and defense industry market.
"The market for MEMS switches is estimated to grow at the highest rate between 2016 and 2022"
Market for microelectromechanical systems (MEMS) switches is expected to grow at the highest rate during the forecast period among all other applications.
The increase in demand of complete automatization of automobiles in 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. The hermetically sealed transistors have been adopted majorly for designing telecommunication circuits and home appliances which has been the key driving factor for the transistor market.
"APAC is the major region for the hermetic packaging market"
The APAC market is expected to hold the largest share in 2016 and is estimated to grow at the highest rate. With the increasing population, energy needs of the countries in the APAC region 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 opportunities for the manufacturers of hermetically packaged components in APAC region.
Further, the countries such as China, Japan, and India are now striving to compete with the countries across the globe in aeronautics and space industry. For instance, in August 2016, China launched the first-ever quantum satellite in an effort to develop a communications system that cannot be hacked. Such efforts by the APAC countries to compete with the countries across the globe in space industry are also expected to drive the hermetic packaging market during the forecast period.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
- By Designation: C-level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
Major players in the hermetic packaging market are Teledyne Microelectronics (U.S.), SCHOTT AG (Germany), AMETEK, Inc. (U.S.), Amkor Technology (U.S.), Texas Instruments Incorporated (U.S.), Micross Components, Inc. (U.S.), Legacy Technologies Inc. (U.S.), KYOCERA Corporation (Japan), Materion Corporation (U.S.), and Willow Technologies (U.K.).
The report on the hermetic packaging market segments the market by configuration, type, application, end-user industry, and geography. Depending on the packaging configurations adopted, the hermetic packaging market based on configuration is segmented into multilayer ceramic packages, metal can packages, and pressed ceramic packages. Depending on the material used for hermetic packaging, the hermetic packaging market based on type is segmented into ceramic–metal sealing (CERTM), glass–metal sealing (GTMS), passivation glass, transponder glass, and reed glass. The hermetic packaging market is segmented on the basis of adoption of hermetic packaging for the electronic components, namely, transistors, sensors, lasers, photodiodes, airbag ignitors, oscillating crystal, MEMS switches, fiber-optic components, and RF connectors, among others. Depending on the adoption of hermetic packaging by various end-user industries, the hermetic packaging market is segmented on the basis of end-user industries, namely, military and defense, aeronautics and space, automotive, energy and nuclear safety, medical, telecommunication, and agriculture and consumer electronics, among others. Lastly, the global hermetic packaging market is segmented into four regions, namely, North America, Europe, APAC, and RoW.
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the hermetic packaging market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different end-user industries and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product launches, partnerships, and acquisitions in the hermetic packaging market.
Read the full report: http://www.reportlinker.com/p04442997-summary/view-report.html
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