New York, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Electronics Packaging Market Size is to Grow from USD 2.13 Billion in 2022 to USD 3.45 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.94% during the projected period.
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The industrial electronic packaging business is witnessing a surge in IoT utilization as the industrial revolution becomes increasingly digitization. The trend toward digitalization is expected to have an impact on the packaging industry, which seeks to promote creative electronic packaging solutions. The design and production of containers for electronic devices, which can range from isolated semiconductor chips to complete systems like a mainframe computer, is referred to as electronic packaging. Drives, sensors, and switches, as well as complex power conversion technologies, PLCs, and robots, are all a part of industrial electronics systems. Despite the rise in popularity of products like TVs, set-top boxes, MP3 players, and digital cameras. The semiconductor fabrication technique used in a lot of medical equipment is expected to have an impact on the electronic packaging market. As a result of the rising popularity of electric vehicles (EVs) and hybrid cars, the automotive industry also accounts for a sizeable percentage of the market under examination. Considering the significant number of memory devices, processors, analog circuits, discrete power devices, and sensors used in electric and hybrid vehicles, the demand is expected to rise fast over the course of the projected time.
COVID 19 Impact
The pandemic affected consumer demand for industrial electronics items, which in turn changed consumer demand for packaging. Electronic device demand expanded in some sectors, including healthcare and telecommunications, while falling in others, like automotive and aerospace, as a result of lockdowns and economic uncertainty. Therefore, it is projected that the business expansion in the approaching years will be driven by the decreased number of COVID-19 instances and the implementation of subsequent measures by government and non-government organizations.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Industrial Electronics Packaging Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Plastics, Composites, Metals, Ceramics), By Packaging Type (Rigid, Flexible), By Protection Level(Electromagnetic Interference shielding, Hermetic packaging, Standard packaging, Electrostatic Discharge packaging), By Application(Semiconductor Packaging, Power Electronics Packaging, Industrial Control Systems Packaging, Telecommunications Equipment Packaging, Automation, and Robotics Equipment Packaging), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The plastic segment dominates the market with the largest revenue share over the forecast period
Based on the material type, the global Industrial electronics packaging market is segmented into plastics, composites, metals, and ceramics. Among these, the plastic segment is dominating the market with the largest revenue share of 35.6% over the forecast period. In addition to their wide variety of formulations, plastics, and polymers are versatile and perfect for a range of packaging designs, including flexible and customized shapes. Although they are lightweight, plastics and polymers are ideal for electronic components, especially in applications where weight reduction is crucial. Furthermore, increased utilization will drive segmental expansion even further.
The rigid segment is witnessing significant CAGR growth over the forecast period.
On the basis of packaging type, the global Industrial electronics packaging market is segmented into rigid and flexible. Among these, the rigid segment is witnessing significant CAGR growth over the forecast period. It is in high demand due to its strength, durability, and barrier qualities, and it provides structure and support for packing products. This packaging is important for longer-distance shipping since it keeps the products safer for longer.
The standard packaging segment is expected to hold the largest share of the global industrial electronics packaging market during the forecast period.
Based on the protection level, the global Industrial electronics packaging market is segmented into electromagnetic interference shielding, hermetic packaging, standard packaging, and electrostatic discharge packaging. Among these, the standard packaging segment is witnessing significant CAGR growth over the forecast period. Industrial electronics packaging must be able to endure mechanical shocks and vibrations in demanding environments like heavy machinery, aircraft, and cars. When packing electronic equipment, standard packaging provides protection against structural damage, temperature, electromagnetic noise emission, and electric discharge.
The semiconductor segment accounted for the largest revenue share of more than 33.85% over the forecast period.
On the basis of application, the global Industrial electronics packaging market is segmented into semiconductor packaging, power electronics packaging, industrial control systems packaging, telecommunications equipment packaging, automation, and robotics equipment packaging. Among these, the semiconductor segment dominates the market with the largest revenue share of 33.85% over the forecast period. The semiconductor industry needs packaging solutions that can withstand the high levels of vibrations and mechanical stresses encountered. Packaging is necessary for both semiconductor design and manufacturing. On a macro level, it has an impact on cost, performance, and power, while on a micro level, it has an impact on the fundamental operation of each processor.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 38.12% market share over the forecast. On a global basis, the US electronics industry is dependable and strong. As a result of the presence of big industrial electronics packaging companies, the United States is a top producer globally. Because of factors like a large consumer electronics market, expanding technological advancements, and technical advances, the United States generates a lot of industrial electronics packaging. The increased demand for next-generation electronic equipment across several industries is also expected to result in an increase in shipments of industrial electronics packaging. Along with the growing trend of automation, it is projected that sales for different industrial electronic components will rise.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The market for consumer electronics, particularly tablets, smartphones, and other electronic gadgets, as well as the cost savings and increased productivity that smart packaging offers is being dominated by China.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global industrial electronics packaging market include UFP Technologies Inc., Sealed Air Corporation, Achilles Corporation, Desco Industries Inc., Botron Company Inc., Kiva Container Corporation, Orlando Products Inc., Delphon Industries LLC, Summit Container Corporation, Protective Packaging Corporation, Dou Yee Enterprises (S) Pte Ltd., Dordan Manufacturing Company Inc., DS Smith Plc. Smurfit Kappa Group Plc. And Others.
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Recent Developments
- In October 2022, Smurfit Kappa Group announced that it had successfully bought Verzuolo for USD 382.53 million. Verzuolo manufactures recycled containers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global Industrial electronics packaging market based on the below-mentioned segments:
Industrial Electronics Packaging Market, Material Type Analysis
- Plastics
- Composites
- Metals
- Ceramics
Industrial Electronics Packaging Market, Packaging Type Analysis
- Rigid
- Flexible
Industrial Electronics Packaging Market, Protection Level Analysis
- Electromagnetic Interference shielding
- Hermetic Packaging
- Standard packaging
- Electrostatic Discharge packaging
Industrial Electronics Packaging Market, Application Analysis
- Semiconductor Packaging
- Power Electronics Packaging
- Industrial Control Systems Packaging
- Telecommunications Equipment Packaging
- Automation and Robotics Equipment Packaging
Industrial Electronics Packaging Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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