USD 1.41 billion
GaN and SiC Power Semiconductor Market Size, Share, Growth Analysis, By Product(SiC power modules, GaN power modules), By Application(Power supplies, Industrial motor drives) - Industry Forecast 2024-2031
Report ID:
SQMIG45O2028 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
67 |
Figures:
80
GaN and SiC Power Semiconductor Market Insights
Global GaN and SiC Power Semiconductor Market size was valued at USD 1.41 billion in 2022 and is poised to grow from USD 1.87 billion in 2023 to USD 17.75 billion by 2031, growing at a CAGR of 32.5% in the forecast period (2024-2031).
The global GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductor market has witnessed significant growth and innovation over the past decade. These advanced materials have emerged as transformative options for power electronics, addressing limitations of traditional silicon-based semiconductors. GaN and SiC power semiconductors offer superior performance in terms of efficiency, switching speed, and thermal tolerance, making them ideal for high-frequency and high-temperature applications. The market for GaN and SiC power semiconductors has been driven by increasing demand for more energy-efficient electronic devices and systems across various sectors, including automotive, industrial, renewable energy, consumer electronics, and telecommunications. These semiconductors have enabled the development of smaller, lighter, and more efficient power electronic components, leading to enhanced overall system performance. The automotive industry, in particular, has embraced GaN and SiC power semiconductors for electric vehicles (EVs) and hybrid electric vehicles (HEVs) due to their ability to improve energy conversion efficiency and extend battery life. The industrial sector has also adopted these semiconductors for applications like motor drives, renewable energy inverters, and industrial automation. As research and development efforts continue, the cost of manufacturing GaN and SiC power semiconductors is expected to decrease, further accelerating their adoption across various industries. However, challenges such as production scalability, integration complexities, and competition from mature silicon technologies still exist.
US Gan and Sic Power Semiconductor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Power supplies
Fastest Growth
Power supplies
Growth Rate
32.5% CAGR
Global Gan and Sic Power Semiconductor Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Gan and Sic Power Semiconductor Market By Application($ Bn)
Global Gan and Sic Power Semiconductor Market By Application (%)
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GaN and SiC Power Semiconductor Market Segmental Analysis
The Global Gan and Sic Power Semiconductor Market is segmented on the basis of Product, Application, and region. By Product, the market is segmented into SiC power modules, GaN power modules, Discrete SiC, Discrete GaN. By Application, the market is segmented into Power supplies, Industrial motor drives, Hybrid/Electric Vehicles (H/EVs), Photovoltaic inverters, Traction, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Gan and Sic Power Semiconductor Market Analysis By Product
The SiC power modules are often considered the dominating segment in terms of adoption due to their established presence in industries like electric vehicles and renewable energy systems. Their ability to handle high voltages, temperatures, and frequencies made them suitable for these applications.
On the other hand, GaN power modules are seen as the fastest-growing segment due to their potential for disrupting various markets with their high-frequency capabilities and efficiency improvements. GaN's advantages in compactness, faster switching speeds, and high power densities were contributing to its growth in industries such as data centers, automotive electronics, and consumer electronics.
Gan and Sic Power Semiconductor Market Analysis By Application
Power supplies are the dominating segment in the Global Gan and Sic Power Semiconductor Market. Gan and Sic Power Semiconductor have found significant applications in power supply units. These semiconductors offer higher efficiency and faster switching speeds compared to traditional silicon-based semiconductors, making them suitable for power conversion and distribution systems. Power supplies are used in various industries, including consumer electronics, telecommunications, data centers, and industrial equipment.
On the other hand, Industrial motor drives have been one of the key application areas for GaN and SiC power semiconductors. These semiconductors are well-suited for motor control due to their high efficiency and fast switching capabilities. Industrial motor drives are used in various industries to control the speed and torque of electric motors, which are a critical component in processes such as manufacturing, automation, and energy management.
Global Gan and Sic Power Semiconductor Market By Application, 2022 (%)
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GaN and SiC Power Semiconductor Market Regional Insights
The global Gan and Sic Power Semiconductor Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia-Pacific (APAC) is often considered the dominant region for the Global GaN and SiC power semiconductor markets. Countries like China, Japan, South Korea, and Taiwan were major players in semiconductor manufacturing and technology development. These countries have a strong presence in electronics manufacturing, automotive, renewable energy, and other industries that drive demand for advanced power semiconductor solutions.
As for the fastest growing segment, The North America region, particularly the United States, is often seen as one of the fastest-growing regions for GaN and SiC power semiconductors. The U.S. had a thriving technology ecosystem with a focus on electric vehicles (EVs), renewable energy integration, data centers, and industrial applications. These areas demanded high-performance power semiconductors, making GaN and SiC technologies highly attractive.
Global Gan and Sic Power Semiconductor Market By Geography, 2024-2031
- Largest
- Fastest
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GaN and SiC Power Semiconductor Market Dynamics
Gan and Sic Power Semiconductor Market Drivers
Increasing Demand for Energy Efficiency:
- GaN and SiC power semiconductors are known for their higher energy efficiency compared to traditional silicon-based semiconductors. As industries and consumers alike prioritize energy savings and reduced carbon footprints, the adoption of GaN and SiC semiconductors has been driven by their ability to convert and manage energy more efficiently.
Rising Demand for Electric Vehicles (EVs):
- The automotive industry's transition towards electric vehicles requires power semiconductors that can handle higher voltages, currents, and switching frequencies. GaN and SiC power semiconductors offer improved performance in these areas, enabling longer driving ranges, faster charging times, and better overall efficiency in EVs.
Gan and Sic Power Semiconductor Market Restraints
Higher Initial Costs:
- GaN and SiC power semiconductors often come with higher upfront costs compared to traditional silicon-based components. While the potential for long-term energy savings can offset these costs, the initial investment can be a barrier to adoption for some industries and applications.
Limited Production Capacity:
- The manufacturing processes for GaN and SiC power semiconductors can be more complex than those for traditional silicon-based semiconductors. This complexity has led to limitations in production capacity and potential supply chain challenges. As demand grows, the industry may need to scale up production to meet market needs.
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GaN and SiC Power Semiconductor Market Competitive Landscape
The Global GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductor market features a dynamic competitive landscape driven by key players vying for market share. Companies like Infineon Technologies, Cree, and STMicroelectronics are prominent contenders, leveraging their expertise in advanced semiconductor materials and technologies. These companies offer a range of GaN and SiC power devices catering to diverse applications, from electric vehicles and renewable energy to industrial and consumer electronics. Additionally, emerging players like GaN Systems and Wolfspeed are challenging the established players with innovative solutions, pushing for higher efficiency and reliability. The competitive environment is characterized by intense R&D efforts, strategic collaborations, and partnerships to capitalize on the growing demand for high-performance power semiconductor solutions in various sectors, ultimately shaping the market's trajectory.
Gan and Sic Power Semiconductor Market Top Player’s Company Profile
- STMicroelectronics N.V. (Switzerland)
- ON Semiconductor (US)
- Mitsubishi Electric Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Littelfuse, Inc. (US)
- Global Power Technology Group (China)
- BASiC Semiconductor (China)
- VisIC Technologies Ltd. (Israel)
- Panasonic Corporation (Japan)
- GaN Systems Inc. (US)
- Exagan S.A.S. (France)
- Cambridge Electronics (UK)
- Avogy, Inc. (US)
- Vincotech GmbH (Germany)
- United Silicon Carbide Inc. (US)
- STMicroelectronics N.V. (Switzerland)
- Raytheon Company (US)
- Genesic semiconductor Inc. (Taiwan)
- Transform, Inc. (US)
- Alpha & Omega Semiconductor Limited (AOS) (China)
- Renesas Electronics Corporation (Japan)
- SEMIKRON International GmbH. (Germany)
Gan and Sic Power Semiconductor Market Recent Developments
-
In January 2024, China's emphasis on silicon carbide (SiC) innovation is inflating cost-viability, representing a likely test to silicon (Si) and gallium nitride (GaN) advancements.
-
In November 2023, Spirox Corp. and its subsidiary Southport Corp. presented the JadeSiC-NK, a momentous non-destructive defect inspection system. This innovative system uses progressive non-linear optical technology to examine whole SiC substrates, pinpointing critical imperfections without harming the material. It replaces the costly and damaging KOH (potassium hydroxide) etching method, bringing about higher production yields and process upgrades.
-
In October 2023, Navitas Semiconductor reaffirmed its sponsorship of the 2023 China Power Gadgets and Electronics and Energy Conversion Congress and the 26th China Power Supply Society (CPSS) Conference and Exhibition (CPSSC 2023). During the occasion, Navitas uncovered critical headways in next-generation gallium nitride (GaN) and silicon carbide (SiC) power semiconductor stages. Among the advancements introduced was GaNSafe™, perceived as the world's most secure GaN power semiconductor.
GaN and SiC Power Semiconductor Key Market Trends
- Increasing Adoption in Electric Vehicles (EVs): GaN and SiC power semiconductors were gaining significant attention in the electric vehicle market. Both materials have properties that make them suitable for power electronics in EVs, enabling higher efficiency, faster charging, and longer range. SiC, in particular, was being explored for use in EV inverters and onboard chargers due to its ability to handle high voltages and temperatures. GaN, on the other hand, was being considered for DC-DC converters and other power electronics components.
- Rise in Renewable Energy Applications: GaN and SiC power semiconductors were being increasingly integrated into renewable energy systems, such as solar inverters and wind turbines. The high-frequency capabilities of GaN and the high-temperature resistance of SiC were advantageous in these applications, leading to improved efficiency and reduced energy loss. These semiconductors were helping to address the challenges of power conversion and grid integration in the growing renewable energy sector.
GaN and SiC Power Semiconductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Gan and Sic Power Semiconductor Market analysis, the market has experienced significant growth due to the demand for more efficient and high-performance electronic devices. GaN and SiC semiconductors offer superior properties like faster switching speeds, higher power density, and improved thermal management compared to traditional silicon-based components. This has led to their adoption in various industries such as automotive, renewable energy, industrial, and telecommunications. As these sectors continue to prioritize energy efficiency and performance, the GaN and SiC power semiconductor market is projected to expand further from 2021 to 2030. However, challenges such as production costs and supply chain limitations may impact the market's growth trajectory. Overall, advancements in GaN and SiC technology are likely to reshape the power electronics landscape over the next decade.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.41 billion |
| Market size value in 2031 | USD 17.75 billion |
| Growth Rate | 32.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GaN and SiC Power Semiconductor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GaN and SiC Power Semiconductor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GaN and SiC Power Semiconductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GaN and SiC Power Semiconductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GaN and SiC Power Semiconductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GaN and SiC Power Semiconductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
GaN and SiC Power Semiconductor Market Report Snapshots
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