High voltages and high currents can be handled by power semiconductors. They have a unique structure than typical semiconductors, which allows them to withstand high voltages and currents without being damaged. When researching for the next generation of efficient power converter switches, wide band gap semiconductor materials such as gallium nitride (GaN) and silicon carbide (SiC) are the ideal choice. However, each material has benefits over the others. For example, Silicon carbide (SiC) power semiconductors offer excellent voltage blocking and benefit even more as the voltage increases. Power semiconductors are used in a wide range of devices, including smartphones, computers, vehicles, and industrial equipment, along with having applications in emerging markets like artificial intelligence (AI), quantum computing, and 5G wireless networks. Semiconductors are the catalysts that propels technological advancement. Advanced semiconductors produce better devices, which increases demand and sales revenue, allowing the industry to invest more in R&D to develop even more advanced semiconductors and enable new applications. In terms of revenue, GaN & SiC power semiconductor market was valued at US$ 854.58 Mn in 2020 growing at a CAGR of 23.5% over the forecast period (2021 – 2029).
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The global GaN & SiC power semiconductor market is being driven by rising demand for power semiconductors in a variety of applications such as power supplies, wireless charging PV inverters, and electric vehicles. Germany’s new government plans to accelerate the transition to more electric vehicles on its roadways. The government announced that purchasing a 100% electric car will continue to be subsidised up to €9,000 in 2022. For plug-in hybrid vehicles, the assistance might be worth up to €6,750. Some of the major players are contributing towards market growth through development of new products. For instance, Mitsubishi Electric Corporation announced in November 2020 the forthcoming release of a new series of silicon-carbide metal-oxide-semiconductor field-effect transistors (MOSFETs), the N-series of 1200V SiC-MOSFETs in a TO-247-4 package. The new series will aid in the reduction of power consumption and physical size of power-supply systems that require high-voltage conversion, such as electric vehicle (EV) on-board chargers and photovoltaic power systems.
Since the COVID-19 pandemic began in early 2020, semiconductor-enabled technology has been used to find therapies, care for patients, work and study from home, order groceries and other essentials, and support numerous other systems that underpin modern society. Semiconductors play a critical role in responding to the world's most pressing concerns and crises.
Developed countries are anticipated to generate significant revenue in the GaN & SiC power semiconductor market over the forecast period. Among them, the United States power semiconductor sector has maintained its global leadership position in major semiconductor technologies such as artificial intelligence (AI), quantum computing, and advanced wireless networks such as 5G. Furthermore, U.S. semiconductor companies are at the forefront and extremely competitive in R&D, design, and manufacturing process technology.
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Our 420+ Pages Report titled, “GaN & SiC Power Semiconductor Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 - 2029”, will include extensive information on the following pointers:
- Global market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Years Considered (2015 – 2029)
- Historic Years: 2015 - 2019
- Base Year: 2020
- Forecast Years: 2021 – 2029
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Business and Technology Trends
- Impact of Covid-19: Global GaN & SiC Power Semiconductor Market
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Analysis:
- Global Presence and Growth Strategies
- Product Benchmarking
- Market Share Analysis, 2020
- Detailed profiles of major market participants operating in the market, encompassing information pertaining to company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
- Reports focusing on specific regions including, North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available in our repository.
- The reports can be provided in different languages including German, Spanish, Arabic, French, Japanese, Russian, Korean and Chinese amongst other languages.
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Key Findings:
- The Gallium nitride (GaN) segment is expected to be the fastest growing segment over the forecast period in the global GaN & SiC power semiconductor market. Gallium nitride (GaN) is gaining popularity due to its ability to provide massively increased performance across a wide range of applications while using less energy and physical space to deliver that performance when compared to traditional silicon technologies.
- MOSFETs segment is expected to witness substantial growth rate over the forecast period. Power MOSFETs retains to be the leading power semiconductor, even as GaN and SiC devices make inroads into power systems. High switching frequencies are possible with power MOSFETS. This is because they are the dominant carrier devices.
- EV quick chargers & contactless power transfer is one of the growing segment in the global GaN & SiC power semiconductor market owing to increasing government initiatives towards the adoption of electric vehicles globally.
- Indirect distribution channel is gaining traction in the global GaN & SiC power semiconductor market and is anticipated to witness fastest growth rate over the forecast period. Companies gain a major competitive advantage through indirect distribution. It enables the companies to gain access over a larger consumer base without having to deal with the difficulty of getting the buyer through the door.
- North America region is expected to gather significant share of the global GaN & SiC power semiconductor market over the forecast period. Supportive government policies associated with GaN & SiC power semiconductor development drove the regional growth. Furthermore, research and development expenditures in the U.S. semiconductor industry are continually high, indicating the underlying link between U.S. market share leadership and continued innovation. According to Semiconductor Industry Association estimates, in 2020, total U.S. semiconductor industry investment in R&D accounted for overall $44.0 billion.
The key companies profiled in the global GaN & SiC power semiconductor market analysis are:
- Fuji Electric Co., Ltd.
- GaN Systems
- Infineon Technologies AG
- Littelfuse, Inc.
- Mitsubishi Electric Corporation (Vincotech)
- NXP Semiconductors
- Panasonic Corporation
- ROHM CO., LTD.
- SemiQ Inc.
- STMicroelectronics
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
- UnitedSiC
- VisIC Techologies Ltd.
- WOLFSPEED, INC.
- Other Market Participants
Global GaN & SiC Power Semiconductor Market:
- By Material Type:
- Gallium Nitride (GaN)
- Silicon Carbide (SiC)
- By Offering:
- Schottky Diodes
- MOSFETs
- Hybrid Devices
- Others
- By Application:
- IT & Telecommunication
- Consumer Electronics
- High-Definition TVs
- Air Conditioners
- Others
- Industrial Equipment
- Renewable Energy
- Home Energy Management System (HEMS)
- EV Quick Chargers & Contactless Power Transfer
- Others
- By Distribution Channel:
- Direct
- Indirect
- By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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