The GaN And SiC Power Semiconductor by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s GaN And SiC Power Semiconductor, The gan and sic power semiconductor market size has grown exponentially in recent years. It will grow from $1.19 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to energy efficiency demands, industry demand for high-power applications, miniaturization and higher frequencies, temperature and voltage handling, cost competitiveness over time.
The gan and sic power semiconductor market size is expected to see rapid growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, renewable energy expansion, 5g and telecommunications expansion, industrial automation and iot, rising consumer electronics market.. Major trends in the forecast period include increased adoption in automotive, environmental sustainability, increased focus on energy efficiency, miniaturization and high-frequency operation, advancements in consumer electronics.
The rising penetration of electric vehicles is expected to propel the growth of the GaN and SiC power semiconductor market going forward. An electric vehicle refers to a vehicle that has an electric motor that takes power from a battery and can be charged externally. Gallium nitride power semiconductors are used in electric vehicles for high-efficiency power transistors and integrated circuits. SiC power semiconductors provide a number of advantages over silicon, including 10x the breakdown electric field strength, and 3x the band gap in electric vehicles. For instance, in October 2021, according to the International Energy Outlook, a report released by the Energy Information Administration (EIA), a US-based government agency responsible for collecting, analyzing, and disseminating energy information, there would be 2.21 billion light-duty vehicles (LDVs) by 2050. Similarly, electric vehicles (EVs)- and LDVs with a charging plug, are expected to grow 31% by 2050, reaching 672 million vehicles. Therefore, the rising penetration of electric vehicles is driving the demand for the GaN and SiC power semiconductor market.
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The gan and sic power semiconductor market covered in this report is segmented –
1) By Product: SiC Power Module, GaN Power Module, Discrete SiC, Discrete GaN
2) By Application: Power Supplies, Industry Motor Drives, Hybrid/Electric Vehicles (H/EVs), Photovoltaic Inverters, Traction, Other Applications
3) By Distribution channel: Direct, Indirect
Technological advancements are a key trend gaining popularity in the GaN & SiC power semiconductor market. Major companies operating in the market are focusing on developing technologically advanced solutions to sustain in the market. For instance, in May 2022, Infineon Technologies, a Germany-based semiconductor manufacturing company, unveiled its extended CoolSiC portfolio, an advanced silicon carbide (SiC) chip including high-voltage solutions that will serve as the basis for next-generation. Low drain-source on resistance is offered by the brand-new 2 kV CoolSiC technology. In comparison to 1700 V SiC MOSFETs, the technique offers ten times less FIT rate from cosmic rays and allows for a suitable overvoltage tolerance. The devices are simple to operate because of the wide functioning gate voltage range.
The gan and sic power semiconductor market report table of contents includes:
1. Executive Summary
2. GaN And SiC Power Semiconductor Market Characteristics
3. GaN And SiC Power Semiconductor Market Trends And Strategies
4. GaN And SiC Power Semiconductor Market – Macro Economic Scenario
5. Global GaN And SiC Power Semiconductor Market Size and Growth
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26. South America GaN And SiC Power Semiconductor Market
27. Brazil GaN And SiC Power Semiconductor Market
28. Middle East GaN And SiC Power Semiconductor Market
29. Africa GaN And SiC Power Semiconductor Market
30. GaN And SiC Power Semiconductor Market Competitive Landscape And Company Profiles
Top Major Players:
- NXP Semiconductors N.V
- Alpha & Omega Semiconductor Limited
- Fuji Electric Systems Co. Ltd
- Infineon Technologies AG
- Littelfuse Inc
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