GaN And SiC Power Semiconductor Market: Size, Share And By Ownership, Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

GaN And SiC Power Semiconductor Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2.96 billion In 2028 At A CAGR Of 19.7%.

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..

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GaN And SiC Power Semiconductor Market Major Segments
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

Key Driver - The Role Of Gan And Sic Power Semiconductors In The Electric Vehicle Revolution

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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Prominent Trend - Infineon Technologies Redefines The Landscape Is Unveiling Advanced Coolsic Portfolio In The Gan & Sic Power Semiconductor Market

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.

GaN And SiC Power Semiconductor Market Players
Major companies operating in the gan and sic power semiconductor market report are NXP Semiconductors N.V., Alpha & Omega Semiconductor Limited, Fuji Electric Systems Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Incorporated, Mitsubishi Electric Corporation, Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics N.V., Transphorm Inc., GeneSiC Semiconductor Inc., Wolfspeed Inc., VisIC Technologies Ltd., Panasonic Holdings Corporation, GaN Systems Inc., SEMIKRON International GmbH, Sanken Electric Co. Ltd., Epiluvac AB, IQE Plc, SweGaN AB, Compagnie de Saint-Gobain S.A., ON Semiconductor Corporation, Coherent Inc., Efficient Power Conversion Corporation, Navitas Semiconductor Corporation, Power Integrations Inc., Resonac Co. Ltd., SICC Semiconductor Corporation, Sumitomo Electric Industries Ltd., Showa Denko K.K. .

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the GaN and SiC power semiconductor market in 2023. The regions covered in the gan and sic power semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. GaN And SiC Power Semiconductor Market Report Structure
3. GaN And SiC Power Semiconductor Market Trends And Strategies
4. GaN And SiC Power Semiconductor Market - Macro Economic Scenario
5. GaN And SiC Power Semiconductor Market Size And Growth
…..
27. GaN And SiC Power Semiconductor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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