Global GaN and SiC Power Semiconductor Market – Industry Trends and Forecast to 2031

GaN and SiC Power Semiconductor Market Analysis and Size

SiC and GaN power semiconductor devices play a pivotal role in enhancing the efficiency and reliability of power conversion systems. They are utilized in inverters and converters for solar photovoltaic (PV) and wind power systems, leveraging their superior characteristics such as higher operating temperatures, faster switching speeds, and lower switching losses compared to traditional silicon-based devices. GaN and SiC power semiconductor market enable more efficient power conversion, reducing energy losses and enhancing overall system performance, thereby facilitating the integration of renewable energy into the grid.

Global GaN and SiC power semiconductor market size was valued at USD 596.06 million in 2023 and is projected to reach USD 4,877.23 million by 2031, with a CAGR of 30.05% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Market Definition

GaN (Gallium Nitride) and SiC (Silicon Carbide) are advanced materials used in power semiconductor devices. They enable higher efficiency and power density compared to traditional silicon-based semiconductors, making them ideal for applications such as power supplies, electric vehicles, and renewable energy systems.

GaN and SiC Power Semiconductor Market Dynamics

Drivers

• Rising Demand for Higher Efficiency Increases the Adoption of GaN and SiC Power Semiconductor

Industries across automotive, renewable energy, and consumer electronics sectors seek power semiconductor solutions that minimize energy losses and enhance overall system performance. GaN and SiC devices offer significantly higher efficiency compared to traditional silicon-based counterparts, making them increasingly attractive for applications requiring energy savings and improved efficiency. Their ability to operate at higher frequencies and temperatures while maintaining efficiency aligns with the growing trend towards more compact and power-dense electronic systems. As a result, the demand for GaN and SiC power semiconductors continues to rise across various industries seeking to optimize energy usage and reduce operational costs.

• GaN and SiC Power Semiconductor Companies grow due to Rising Adoption of Electric Vehicles

As the automotive industry transitions towards electric propulsion, there is a growing demand for power electronics solutions that offer higher efficiency and performance. GaN and SiC power semiconductors, developed by leading power semiconductor companies, enable EV manufacturers to develop vehicles with longer driving ranges, faster charging times, and more efficient powertrain systems. Their ability to handle higher temperatures and voltages while minimizing energy losses makes them ideal for EV applications, driving their adoption in onboard chargers, inverters, and motor drives. This increasing demand from the EV sector is fueling the growth of the GaN and SiC power semiconductor market.

Opportunities

• Expansion of Power Density Promotes Adoption of GaN and SiC Power Semiconductors

As industries strive for smaller and more compact electronic devices, the demand for higher power density solutions has intensified. GaN and SiC power semiconductors excel in this regard due to their ability to operate at higher frequencies, voltages, and temperatures while maintaining efficiency. Their superior characteristics enable the development of smaller and lighter power electronics systems without compromising performance, making them essential components in applications such as electric vehicles, renewable energy systems, and consumer electronics. Thus, the quest for increased power density is a significant driver fueling the growth of the GaN and SiC power semiconductor market.

• Rising Advancements in Manufacturing Processes Promotes Expansion of Power Semiconductors

Continuous improvements in fabrication techniques, epitaxial growth methods, and packaging technologies are leading to enhanced performance, higher yields for these semiconductor devices. As manufacturing becomes more efficient and cost-effective, the barriers to entry for adopting GaN and SiC technology are lowered, encouraging wider adoption across industries. Moreover, advancements enable the production of devices with improved reliability and thermal management, addressing key concerns in high-power applications such as electric vehicles, renewable energy systems, and industrial motor drives. Overall, these advancements are catalyzing the proliferation of GaN and SiC power semiconductors, fueling market expansion and innovation.

Restraints/Challenges

• High Manufacturing Cost Limits the Adoption of GaN and SiC Power Semiconductor

The fabrication processes for GaN and SiC devices involve specialized equipment, complex epitaxial growth techniques, and stringent quality control measures, leading to elevated production expenses. These high costs limit the scalability of manufacturing and can result in relatively expensive end products, making GaN and SiC solutions less competitive compared to traditional silicon-based alternatives in some applications.

• Limited Availability of High-Quality Substrates Hampers the Growth GaN and SiC Power Semiconductor

GaN and SiC require specialized substrates for epitaxial growth, and the supply of these substrates is constrained by factors such as production capacity and material quality. Limited substrate availability can lead to supply chain disruptions, increased production costs, and delays in product development. Additionally, competition for substrates among different industries further exacerbates the challenge, hindering the scalability of GaN and SiC device manufacturing and impeding their broader adoption in various applications.

This market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In June 2023, Qorvo, Inc. launched the QPB3810, a GaN-based power amplifier with integrated bias control, catering specifically to 5G massive MIMO applications. This amplifier promises enhanced efficiency and performance, addressing the growing demand for high-speed, high-capacity wireless communication systems
• In March 2023, Infineon Technologies revealed its intention to acquire GaN Systems for USD 830 million, aiming to bolster its GaN portfolio and solidify its position in the power system market. This strategic acquisition highlights Infineon's commitment to expanding its semiconductor offerings to meet the evolving needs of various industries
• In April 2022, ROHM Semiconductor and Delta Electronics formed a collaboration to leverage their technology and manufacturing expertise in the mass production of GaN-based power devices. This joint initiative underscores the companies' commitment to advancing power system development and establishing a formidable presence in the global market, particularly in sectors demanding high-performance power solutions

GaN and SiC Power Semiconductor Market Scope

The market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Sic Power Module
• GaN Power Module
• Discrete SiC
• Dicrete GaN

 Application

• Power Supplies
• Industrial Motor Drives
• H/EV
• PV Inverters
• Traction
• Others

GaN and SiC Power Semiconductor Market Analysis/Insights

The market is analyzed and market size, volume information is provided by country, product and application as referenced above.

The countries covered in the market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Kuwait, Egypt, and rest of Middle East & Africa.

North America is expected to dominate in the market is attributed to the surge in electric vehicle adoption, driven by environmental concerns and government incentives. The region's robust investment in 5G technology and infrastructure development further bolsters demand for GaN and SiC devices, as they are integral to high-efficiency power electronics systems required for EVs and 5G infrastructure.

North America is expected to be the fastest-growing region in the market, driven by increasing demand for electric vehicles, renewable energy systems, and industrial applications. Factors such as government incentives, favorable regulations, and a strong emphasis on sustainability are fueling the adoption of GaN and SiC devices in these sectors, propelling market growth in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and GaN and SiC Power Semiconductor Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to market.

Some of the major players operating in market are:

• Alpha and Omega Semiconductor (U.S.)
• Fuji Electric Co., Ltd (Japan)
• Infineon Technologies AG (Germany)
• Littelfuse, Inc. (U.S.)
• Microsemi (U.S.)
• Mitsubishi Electric Corporation (Japan)
• Renesas Electronics Corporation (Japan)
• ROHM SEMICONDUCTOR (Japan)
• SANKEN ELECTRIC CO., LTD. (Japan)
• STMicroelectronics (Switzerland/France)
• Epiluvac (Sweden)
• IQE PLC (U.K)
• Transphorm Inc. (U.S.)
• SweGaN (Sweden)
• Saint-Gobain (France)
• GeneSiC Semiconductor Inc. (U.S.)
• Sublime Technologies (U.S.)
• Global Power Technologies Group (U.S.)
• DACO SEMICONDUCTOR CO., LTD. (Taiwan)
• AGC Inc. (Japan)
• Dow (U.S.)
• WeEn Semiconductors (China)

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