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What’s driving the GaN and SiC power semiconductor market trends? | Key player are Mitsubishi Electric Corporation, Infineon Technologies AG, ROHM Semiconductor, and NXP Semiconductors

07-01-2019 07:09 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

GaN and SiC power semiconductor market

GaN and SiC power semiconductor market

riven by the increasing need of power saving devices in heavy energy applications, GaN and SiC power semiconductor market has emerged as one of the lucrative business avenues for the players in electronics and media sector. In fact, over the last few years, semiconductor manufacturers have been observing fierce competition pertaining to the development of GaN and SiC power devices. The growing use of such devices in renewable energy generation applications will have a notable impact on the future product demand.

As compared to traditional silicon-based semiconductor devices, GaN and SiC semiconductor materials can be used in faster, smaller, and more reliable devices that can provide higher efficiency. During power conversion, they eliminate around 90% of the power losses. So that to take advantage of their unique capabilities, several automation companies like ABB have been incorporating GaN and SiC power semiconductor market in their industry applications.

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Though the GaN and Sic power semiconductor has the capability to withstand higher operational temperature, leading contributors in semiconductor market have been involved in the development of insulating substrates which can be used in electronic devices for heat dissipation. Continuous upgradation of existing technology trends in the semiconductor industry is likely to propel GaN and SiC power semiconductor market share.

Heavy dependency on inefficient coal-fired power plants and fossil fuels is one of the prominent reasons why the energy sector has been contributing to global greenhouse gas emissions. In this regard, regulatory bodies like United Nations Development Program (UNDP) have been working rigorously to bring transition across the globe through renewable energies. Continuous contribution by the governing bodies to use renewable energy technologies will strengthen GaN and SiC power semiconductor market landscape over the years ahead.

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Solar is one of the fastest growing energy sources in the world driven by the burgeoning investment by the countries like China, India, and U.S. Decreasing manufacturing cost along with growing awareness among the people about environmental benefits are the major factors fueling solar energy market size. Since GaN and SiC power semiconductor market are mainly used in the PV inverters, heavy investment in solar energy industry will indirectly support the market growth.

In the Asia Pacific region, India and China will turn out to be leading business contributors for GaN and SiC power semiconductor market. The ongoing installation of large-scale solar power projects across India and China is mainly responsible for driving the regional growth. For instance, China has the potential to have world’s largest solar power plant, once the three phase Datong Solar Power plant of 3GW capacity is completed.

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India is also gaining quite some traction in GaN and SiC power semiconductor market landscape with the development of solar power plants. State governments of the provinces comprising Karnataka, Tamil Nadu, Rajasthan and Andhra Pradesh have invested rapidly in the construction of solar power stations. The four phased Bhadla industrial solar farm located in Rajasthan for example will generate 2,255 MW of electricity when it would become operational by December 2019. In another instance, to complete the Kamuthi solar facility based in Tamil Nadu, the government invested USD 679 million in 2016.

Increasing renewable energy applications across the globe will generate lucrative business opportunities ahead for companies in GaN and SiC power semiconductor market. Growing popularity of renewables across the globe and proliferating installations of photovoltaic inverters will drive market trends over the coming years.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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