Publication Month: Sep 2019 | Report Code: TIPRE00005583 | No. of Pages: 193 | Category: Electronics and Semiconductor | Status: Published
Hermetic packaging market is led by the Asia Pacific region in 2018. Asia Pacific led the global hermetic packaging market with more than 35% share, followed by North America and Europe. APAC is also expected to be the fastest-growing region in the global hermetic packaging market during the forecast period. The fast growth of hermetic packaging market in APAC is attributed to the large presence of electronics manufactures in China, Japan and South Korea. The presence of fast growing countries such as China and India as well as developed countries such as Japan and South Korea, makes Asia pacific one of the most promising market for the growth of hermetic packaging. The economic growth in developing countries of APAC is quite impressive and these countries are expected to offer ample growth opportunities for the hermetic packaging market players during 2019–2027.
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The global aerospace and defense industry is experiencing a strong growth owing to factors such as growing passenger travel demand and increasing military expenditure in countries such as China and the US. With rising geopolitical tensions in various regions, the aerospace and defense industry is expected to continue its growth trajectory during the forecast period of 2019 to 2027. With the growing demand for application-specific customized solutions and high safety and reliability requirements, aerospace and defense industry provides a positive demand outlook for hermetically packaged electronic components. Various companies such as SCHOTT AG and AMETEK, Inc. offers hermetic packages for safeguarding sensitive electronic components used in the aerospace and defense industry. Hence, factors such as increasing commercial and military aircraft production and rising spending on defense/military equipment are anticipated to drive the demand of hermetically protected electronic components in the global aerospace and defense industry.
The trend of increasing miniaturization of electronic components has become a major concern for packaging solution providers worldwide. The constant technology advancements in various industries are pushing manufacturers to implement miniaturization in order to cope up with rising demands of industries such as aerospace, electronics, automotive, and healthcare. Hence, it has become a necessity for hermetic packaging providers to bring solutions which can support such miniaturized electronic components. Thus, this factor is expected to trigger the growth of the hermetic packaging market in the coming years.
The hermetic packaging market on the basis of product is segmented into passivation glass, transponder glass, reed glass, glass-to-metal sealing (GTMS), and ceramic-to-metal sealing (CerTMS). The glass-to-metal sealing product is the leading segments with the highest market share. Further, ceramic-to-metal sealing is anticipated to witness immense growth in the hermetic packaging market during the forecast period.
The hermetic packaging market on the basis of industry vertical is segmented into aerospace, medical, telecommunications, consumer electronics, military & defense, automotive, and others. The aerospace industry vertical is the major adopter of hermetic packaging solutions owing to the increasing demand for critical applications in aircraft and space applications including spacecraft guidance system, and satellites. Further, military & defense is also witnessing immense growth in the demand for hermetic packaging solutions.
The application segment of hermetic packaging market is bifurcated into lasers, photo diodes, airbag ignitors, MEMS, transistors, sensors, and others. The hermetic packaging market by application was led by transistors segment which held maximum market share and is anticipated to dominate the market in the forecast period. The hermetic packaging of transistors helps in increasing the longevity and reliability of these transistors by making them resistant to harsh external environment conditions. The demand of hermetically packaged transistors is driven by applications in extreme environment industries such as military and defense, where these transistors are used in switching power supplies, inverters, and motor controls among many others.
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|Market Size Value in||US$ 3.51 Billion in 2018|
|Market Size Value by||US$ 6.19 Billion by 2027|
|Growth rate||CAGR of 6.6% from 2019-2027|
|No. of Pages||193|
|No. of Tables||83|
|No. of Charts & Figures||89|
|Historical data available||Yes|
|Segments covered||Product ; Application ; Industry Vertical|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Market Initiatives was observed as the most adopted strategy in global hermetic packaging market. Few of the recent market initiatives are listed below:
2019:Micross Components added Strategic Sales Inc. (SSI) as a manufacturer rep organization to serve the Philadelphia market. SSI offers technical sales and management for key electronic component and systems companies in the Mid-Atlantic region. Thus, Micross looks forward to expand its market footprint by working closely with the SSI Team to further develop its business in this region.
2018:Schott AG entered an agreement to acquire Primoceler Oy in order to expand its hermetic packaging portfolio with pioneering glass micro bonding technology. Upon finalization of the acquisition, the company is expected to conduct its business activities under the new name SCHOTT Primoceler Oy. Through this acquisition, SCHOTT will utilize Primoceler’s pioneering micro bonding method that utilizes laser technology for manufacturing vacuum-tight, ultra-miniature electronic and optical devices without any heat or added materials.
2017:AMETEK, Inc. has combined its industry-leading electronic components, interconnect and wire, packaging businesses into an expanded division, Electronic Components & Packaging (ECP), that brings together its market-leading Glasseal, Aegis, Hermetic Seal, Coining, SCP and Sealtron brands into a single global business platform. This new division enables the company to provide its expanding customer base with a increasing range of innovative component and hermetic solutions.
The List of Companies