I agree with Bob's explanation but want to add that we do not really 'size' panels by amps.
When deciding what size panel we need we use 'Volt-Amperes' or 'VA'.
Which is really much easer when you have both 240 volt and 120 volt loads to figure for the same panel.
A typical 100 amp single phase 240 panel has about 24,000 VA available.
A typical 200 amp single phase 240 panel has about 48,000 VA available.
A typical 200 amp three phase 208 panel has about 72,000 VA available.
You add up all your loads in VAs then you can determine the minimum size feeder and panel for that load.