The North America hermetic packaging market accounted for US$ 1.16 Bn in 2018 and is expected to grow at a CAGR of 6.4% over the forecast period 2019-2027, to account for US$ 2.02 Bn in 2027. During the forecast period from 2019 to 2027, the aerospace and defense industry is expected to drive the demand for hermetic packaging worldwide. In addition to this, robust demand for hermetically packaged electronic components from the automotive, medical, and telecommunications industries is anticipated to fuel the future growth of hermetic packaging market worldwide. However, alternative and low-cost non-hermetic packaging methods could hinder the hermetic packaging market growth. Despite these limitations, the increasing demand for consumer electronic devices worldwide is projected to offer ample growth opportunities for the players operating in the hermetic packaging market during the forecast period of 2019 to 2027.
The hermetic packaging market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market are anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the hermetic packaging market further. In the year 2017, the Government of Quebec altered its tax incentives for new data centers. The state now offers an attractive tax regime to the technology business. This trend is anticipated to be followed by the neighboring provinces as well. The reformed tax regime included up to 30% tax credit on eligible R&D expenses, US$ 25,000 tax credit per employee for recruitment of new IT employees and, 5% tax credit for labor costs in multimedia titles. These tax policies would not only encourage investment in data centers but also promote the adoption of novel technologies. Growing support for data centers would also demand better memory storage facilities and thus have a good impact on the electronic components that are integrated into the data centers. The reformed regulation in the North American countries would substantially contribute to the growth of the hermetic packaging market.
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 systems, and satellites. Further, military & defense is also witnessing immense growth in the demand for hermetic packaging solutions.
The overall hermetic packaging market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the hermetic packaging market. It also provides an overview and forecast for the hermetic packaging market based on all the segmentation provided with respect to the North American region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the hermetic packaging market. Some of the players present in hermetic packaging market are Ametek, Inc., Egide SA, Kyocera Corporation, Legacy Technologies Inc., Materion Corporation, Micross Components Inc., Renesas Electronics Corporation, Schott AG, Teledyne Technologies Incorporated, and Texas Instruments Inc. among others.
Reasons to Buy:
The hermetic packaging market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market are anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the hermetic packaging market further. In the year 2017, the Government of Quebec altered its tax incentives for new data centers. The state now offers an attractive tax regime to the technology business. This trend is anticipated to be followed by the neighboring provinces as well. The reformed tax regime included up to 30% tax credit on eligible R&D expenses, US$ 25,000 tax credit per employee for recruitment of new IT employees and, 5% tax credit for labor costs in multimedia titles. These tax policies would not only encourage investment in data centers but also promote the adoption of novel technologies. Growing support for data centers would also demand better memory storage facilities and thus have a good impact on the electronic components that are integrated into the data centers. The reformed regulation in the North American countries would substantially contribute to the growth of the hermetic packaging market.
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 systems, and satellites. Further, military & defense is also witnessing immense growth in the demand for hermetic packaging solutions.
The overall hermetic packaging market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the hermetic packaging market. It also provides an overview and forecast for the hermetic packaging market based on all the segmentation provided with respect to the North American region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the hermetic packaging market. Some of the players present in hermetic packaging market are Ametek, Inc., Egide SA, Kyocera Corporation, Legacy Technologies Inc., Materion Corporation, Micross Components Inc., Renesas Electronics Corporation, Schott AG, Teledyne Technologies Incorporated, and Texas Instruments Inc. among others.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America hermetic packaging market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America hermetic packaging market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Hermetic Packaging- Market Landscape
5. Hermetic Packaging Market - Key Industry Dynamics
6. Hermetic Packaging Market- North America Analysis
7. Hermetic Packaging Market Analysis - By Product
8. Hermetic Packaging Market Analysis - By Application
9. Hermetic Packaging Market Analysis - By Industry Vertical
10. North America Hermetic Packaging Market - Country Analysis
11. Industry Landscape
12. Key Company Profiles
13. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ametek, Inc.
- Egide SA
- Kyocera Corporation
- Legacy Technologies Inc.
- Materion Corporation
- Micross Components
- Renesas Electronics Corporation
- Schott AG
- Teledyne Technologies Incorporated
- Texas Instruments Inc.