SiC GaN Power Semiconductor Market Projected to Reach $7.05 Billion by 2030

According to a new report published by Allied Market Research, titled, "SiC GaN Power Semiconductor Market by Material, Product, Application, And Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global SiC GaN power semiconductor market size was valued at $0.79 billion in 2020, and is projected to reach $7.05 billion by 2030, registering a CAGR of 27.1% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 :
https://www.alliedmarketresearch.com/request-sample/A14224

Power semiconductors are components used to convert energy from one form to another at various stages between the points of energy generation and energy consumption. Traditionally, silicon-based devices have been predominantly used for high-voltage applications, however, new materials such as silicon carbide (SiC) and gallium nitrate (GaN) for power applications are gaining popularity to take advantage of superior material properties. Silicon carbide (SiC) and gallium nitride (GaN) have higher band gap energies than silicon as well as other attributed benefits to power semiconductors devices. The higher band gap energies lead to reduced leakage current and are also favorable for another common power device, the Schottky Barrier Diode. Other advantageous material properties of SiC and GaN over traditional silicon include better heat conduction and lower resistance in bulk structures. These attributes to gain in momentum of the SiC GaN power semiconductor market.

Significant factors that impact growth of the SiC GaN power semiconductor market include increase in demand for power electronics modules across various industry verticals, advantages of compound semiconductors (SiC) over silicon-based technology, rise in installation of solar photovoltaic panels for electricity generation, decrease in prices of GaN semiconductor, rise in demand for GaN power semiconductor for wireless charging, and increase in requirement of GaN devices for commercial RF applications. However, lack of availability of GaN material, high wafer cost of SiC semiconductors, and complexity in supply chain and designing process of SiC semiconductor technology hampers the SiC GaN power semiconductor market growth. On the contrary, advent of 5G communication, and government initiatives in HVDC and smart grid are expected to offer lucrative opportunities for the SiC GaN power semiconductor market analysis during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.alliedmarketresearch.com/request-for-customization/A14224

Region wise, Asia-Pacific holds a significant share in the global SiC GaN power semiconductor market. China dominates the market share in this region, owing to presence of several leading manufacturers in the region. Besides, increasing demand for consumer electronics and rise in infrastructure development have also contributed to the growth of SiC GaN power semiconductor in the region.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

In 2020, the SiC segment accounted for maximum revenue and is projected to grow at a notable CAGR of 27.3% during the forecast period.

The power MOSFET and IGBT segments together accounted for more than 25.0% of the SiC GaN power semiconductor market share in 2020.

The automotive segment of the SiC GaN power semiconductor market is projected to grow at a CAGR of 30.5% during the forecast period.

Asia-Pacific contributed major share in the SiC GaN power semiconductor market, accounting for more than 45.0% share in 2020.

The key players profiled in the report include Fujitsu Limited, Infineon Technologies, Maxim Integrated, Microchip Technology, NXP Semiconductors, ON Semiconductor Corporation, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments, and Toshiba Corporation. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the SiC GaN power semiconductor market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A14224

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

https://sco.lt/8RLub2

https://pawarrishika08.medium.com/iris-scanners-the-future-of-secure-and-contactless-identification-b872d78a3c4c

https://marketresearchreports27.blogspot.com/2024/12/from-photography-to-medicine.html

https://pawarrishika08.medium.com/ambient-light-sensor-industry-analyzing-the-shift-toward-energy-efficiency-and-ai-adoption-998b46f5fee0

https://www.quora.com/profile/Pawar-Rishika

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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