Global GaN & SiC Power Semiconductor Market 2022 Projection, Growth Rate and Emerging Trends Analysis to 2030

The Power Converter is made up of high-frequency power semiconductor devices that are turned on and off. Power semiconductors carry out the same functions as regular semiconductors, but on a much larger scale. These high-performance components can withstand extremely high electrical currents, voltages, and frequencies. GaN and SiC semiconductors are made up of multiple elements and hence, referred to as compound semiconductors. GaN and SiC have a greater critical field than Si, allowing them to operate at higher voltages and lower leakage currents. SiC and GaN transistors and diodes play critical roles in electric vehicles. The adoption of SiC and GaN power semiconductors in the components of electric vehicle substantially have escalated their global sales. Increase in government initiatives, technological innovation along with rising penetration of electric vehicles are some of the major factors driving GaN & SiC power semiconductor market growth.

In terms of revenue, GaN & SiC power semiconductor market was valued at US$ 854.58 Mn in 2021 growing at a CAGR of 23.5% over the forecast period (2022 - 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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Silicon carbide and gallium nitride are the two most important wide bandgap materials in the semiconductor industry. Their distinct properties dictate which applications each of these materials is best suited for. GaN is commonly pursued for low-power, high-frequency applications, whereas SiC is preferred for high-power, high-voltage applications. Within the next decade, GaN and SiC power semiconductors are expected to make significant advances in the power industry. The major limiting factor for GaN and SiC at the present is higher production cost. The production of large-diameter SiC and GaN wafers is limited, with high defect rates and more expensive manufacturing techniques than silicon.

The covid-19 pandemic significantly changed the sector's fundamentals, including customer behavior, business revenues, and a variety of corporate operations. At the present, the semiconductor industry is focusing on employee health and safety, as well as continuous efforts for research, design, and manufacturing processes. This continuity in the semiconductor industry is important since it underpins today's main industries, such as medical and healthcare, as well as other complementary technologies like Industry 4.0, AI, and 5G, as well as other segments that are repurposing itself to combat the pandemic. Furthermore, increasing investments towards innovation in power semiconductors showcases potential opportunities for the growth of market participants in the GaN & SiC power semiconductor market.

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List of Major Players in GaN & SiC Power Semiconductor Market Report are:
Fuji Electric Co., Ltd.
GaN Systems
Infineon Technologies AG
Littelfuse, Inc.
Mitsubishi Electric Corporation (Vincotech)
NXP Semiconductors
Panasonic Corporation
SemiQ Inc.
STMicroelectronics
UnitedSiC
VisIC Techologies Ltd.
Other Market Participants

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Highlights of the Report
The new entrants and alternative products and services that pose a significant threat to the competitors in the future are highlighted in this report.
Business models adopted by the leading players for partnering with the other growing competitors
The report exploits unexplored market spaces that may enable the market participants to compete with the leading players.
It reviews the biggest competitors across various segments in the GaN & SiC Power Semiconductor
The report explores different buyers and sellers through the market's value chain.
The GaN & SiC Power Semiconductor market report has identified the specific categories of products that compete with the international marketplace giants.
The product categories that ensure high profit for the sellers and other participants are presented in the study.
The report puts together the key takeaways that the market participants can start implementing straight away.

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Global GaN & SiC Power Semiconductor Market Segmentation:

By Material Type
Gallium Nitride (GaN)
Silicon Carbide (SiC)

By Offering
Schottky Diodes
MOSFETs
Hybrid Devices
Others

By Application
IT & Telecommunication
Consumer Electronics
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
Europe
Asia Pacific
Middle East & Africa
Latin America

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