Sic & GaN Power Semiconductor Market: Global Size, Share, Trends, Growth and Forecast 2022-2032

Sic & GaN Power Semiconductor Market Overview and Definition

The global Sic & GaN power semiconductor market size was valued at around USD 1.2 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 19.4% from 2022 to 2032.The market size is projected to succeed in USD 7.1 billion by 2032.

The SiC (Silicon Carbide) and GaN (Gallium Nitride) Power Semiconductor Market refers to the market for power semiconductors that are made from either Silicon Carbide (SiC) or Gallium Nitride (GaN) materials. These materials are used in the manufacturing of power semiconductors, which are electronic devices that are used to control and manage the flow of electrical power.

Power semiconductors made from SiC and GaN offer several advantages over traditional silicon-based power semiconductors, including higher operating temperatures, higher power densities, and faster switching speeds. These advantages make them well-suited for use in high-power applications, such as electric vehicles, renewable energy systems, and aerospace and defense systems.

The SiC and GaN Power Semiconductor Market is expected to grow rapidly in the coming years, driven by increasing demand for high-performance power electronics and the increasing adoption of electric vehicles. The market is highly competitive, with a large number of companies operating in the space and investing in R&D to develop new and improved products.

The worldwide market is significantly determined by the surge in several technological advancements and growth in the semiconductor industry around the globe. There are some factors that may fuel the innovation and SiC GaN power semiconductor market. They are- the ability of the SiC to deliver lower losses and high efficiency along with the increase in application of IGBT modules.

The business will present promising development possibilities, which are stemmed by the blend of various factors. Some of these factors are, the rising introduction of 5G mobile communication and emerging adoption of electric vehicles. In addition to this, for various power applications, the power semiconductor devices such as SiC and GaN are witnessing higher adoption. Likewise, the technological advancements across automotive electronics along with flourishing automotive production in China and India have unlocked significant opportunities for the market development.

As the SiC has higher dielectric breakdown field strength, it enables an electronics device with lower loss and higher breakdown voltage than the conventional silicon devices. Also, SiC has become more popular in the areas of high withstand voltage and high current, as a replacement for silicon IGBTs. On the other hand, GaN devices are popularly being adopted in power supplies of about 1 kW or less. For instance, GaN devices have experienced emerging adoption in power source for base stations in the 5G mobile communication systems. Hence, 5G communication is anticipated to further push the demand for GaN devices.

The market is seeing extensive consolidations and acquisitions. This is to accomplish upgraded portfolios and generate new revenue streams. For instance, March 2020, STMicroelectronics, a leading semiconductor company acquired a majority stake in Exagan, a French Gallium Nitride (GaN) innovator. Such developments are further expected to drive market growth.

Sic & GaN Power Semiconductor Market Growth Drivers

Increasing demand for high-performance power electronics: SiC and GaN power semiconductors offer several advantages over traditional silicon-based power semiconductors, including higher operating temperatures, higher power densities, and faster switching speeds. This makes them well-suited for use in high-performance power electronics applications, such as electric vehicles, renewable energy systems, and aerospace and defense systems.

Adoption of electric vehicles: The growth of the electric vehicle market is driving demand for SiC and GaN power semiconductors, as these devices are used in the power electronics systems of electric vehicles to control the flow of electrical power.

Government initiatives and regulations: Government initiatives and regulations aimed at promoting the use of renewable energy and reducing greenhouse gas emissions are driving demand for SiC and GaN power semiconductors, as these devices play a critical role in the development of renewable energy systems.

Investment in R&D: Companies operating in the SiC and GaN Power Semiconductor Market are investing heavily in R&D to develop new and improved products, which is driving innovation and growth in the market.

Growing demand for high-power applications: The increasing demand for high-power applications, such as renewable energy systems and electric vehicles, is driving demand for SiC and GaN power semiconductors, as these devices offer significant advantages over traditional silicon-based power semiconductors in high-power applications.

Sic & GaN Power Semiconductor Market Challenges

Despite the growth opportunities in the SiC and GaN Power Semiconductor Market, there are also several challenges that companies operating in the market must overcome, including:

High cost: SiC and GaN power semiconductors are currently more expensive to manufacture than traditional silicon-based power semiconductors, which can make them less accessible for some applications.

Limited production capacity: The production of SiC and GaN power semiconductors is still limited, which can limit their availability and make it difficult for companies to meet growing demand.

Technical challenges: Developing SiC and GaN power semiconductors is a complex and challenging process, and companies must overcome technical challenges in order to manufacture high-quality products that meet the needs of customers.

Competition from established players: The SiC and GaN Power Semiconductor Market is highly competitive, with a large number of companies operating in the space, including established players with significant resources. This can make it difficult for new entrants to establish a presence in the market.

Uncertainty in global economic conditions: The SiC and GaN Power Semiconductor Market is impacted by global economic conditions, and uncertainty in these conditions can impact demand for these devices and make it difficult for companies to make long-term plans.

Geographical Coverage

The huge demand for power supply equipment in some of the largest industrial markets such as India and China are fortifying the Asia Pacific market. The Asia Pacific area may surface as a main district over the estimated time frame. The provincial market development is attributed to considerable presence of the cheap labor and raw materials, which is strengthening the production facilities across region.

Moreover, electric vehicle and power supply applications have increasingly boosted the energy demand in the U.S., generating a significant need for higher system efficiency along with the increased adoption rate of GaN & SiC semiconductor devices.

Furthermore, the GaN and SiC power semiconductor are extensively being used in applications such as industrial motor devices, PV inverters, traction, power supplies, and others. These compound semiconductors consume less power and offers more energy saving; thus, they are finding huge applications around the globe. The aforementioned factor drives the global GaN & SiC semiconductor market.

Sic & GaN Power Semiconductor Market: Segmentation

Product Insights:

In view of product types, the market has been portioned into SiC Power Module, GaN Power Module, Discrete GaN, and Discrete SiC. The SiC Power Module section is the biggest portion, regarding income, and may rule the innovation field, as far as size, by 2032.

SiC power modules have become a vital component in various power applications owing to its features & capabilities such as less thermal expansion and wider band gap. Such modules are being adopted to replace silicon semiconductors, further contributing to a growth of the SiC GaN power semiconductor market.

The GaN Power Module and Discrete GaN fragments should observe impressive development and rule the market (regarding development rates) over the conjecture time frame. The GaN materials are able to be used at more temperatures than the conventional silicon, making them suitable for critical environment applications. This factor significantly drives growth of the market.

Consolidations and acquisitions, to accomplish cutting edge innovation licenses, have advanced as a significant piece of the current SiC GaN power semiconductor industry. For example, in June 2020, Vitesco Technologies, a supplier in the field of vehicle electrification, partnered with ROHM Semiconductor, a leading company in SiC power semiconductors. Through this partnership, Vitesco Technologies is projected to use SiC components to increase the efficiency of its power electronics for electric vehicles (EV).

Application Insights

In light of application, the market is divided into Industrial Motor Drives, Power Supplies, electric vehicle (H/EV), PV Inverters, and Traction. The power supplies application fragment is the biggest section and will overwhelm the application field, by 2032. The electric vehicle applications section would observe a quick movement as far as CAGR in contrast with its other sales partners.

The industrial motor drives and traction application portions may observe critical development rates. This is due to the high demand for power semiconductor devices in driving motors, particularly in switching them from low to high speeds. The increasing awareness for reduction in power consumption and energy saving in recent times has significantly driven the demand for SiC GaN power semiconductor on account of their low power consumption capabilities.

Competitive Market Insights

The key business members of the market are Infineon Technologies AG, ROHM Semiconductor, Sanken Electric Company, United Silicon Carbide Inc., STMicroelectronics N.V., Raytheon Company, Monolith Semiconductor Inc., Genesic semiconductor Inc., and Panasonic Corporation. The broad proliferation of internet has affected expanded selection of SiC GaN power semiconductor in the global electronics & semiconductor sector.

Research Methodology

Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Issues in Global Sic & GaN Power Semiconductor Market
3. Global Sic & GaN Power Semiconductor Market Trends
4. Opportunities in Global Sic & GaN Power Semiconductor Market
5. Recent Industry Activities, 2019
6. Porter's Five Forces Analysis
7. Market Value Chain and Supply Chain Analysis
8. Global Sic & GaN Power Semiconductor Market Size (USD Million), Growth Analysis and Forecast, (2019-2025)

9. Global Sic & GaN Power Semiconductor Market Segmentation Analysis, By Application
9.1. Introduction
9.2. Market Attractiveness, By Application
9.3. BPS Analysis, By Application
9.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
9.5. UPS Market Size & Forecast (USD Million), 2019-2025
9.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
9.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
9.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
9.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
9.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
9.11. Other Applications Market Size & Forecast (USD Million), 2019-2025

10. Geographical Analysis
10.1. Introduction
10.2. North America Market Size (USD Million), 2019-2025
10.2.1. By Application
10.2.1.1. Introduction
10.2.1.2. Market Attractiveness, By Application
10.2.1.3. BPS Analysis, By Application
10.2.1.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
10.2.1.5. UPS Market Size & Forecast (USD Million), 2019-2025
10.2.1.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
10.2.1.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
10.2.1.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
10.2.1.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
10.2.1.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
10.2.1.11. Other Applications Market Size & Forecast (USD Million), 2019-2025
10.2.2. By Country
10.2.2.1. Market Attractiveness, By End-user
10.2.2.2. BPS Analysis, By End-User
10.2.2.3. U.S. Market Size (USD Million), 2019-2025
10.2.2.4. Canada Market Size (USD Million), 2019-2025

10.3. Europe Market Size (USD Million), 2019-2025
10.3.1. By Application
10.3.1.1. Introduction
10.3.1.2. Market Attractiveness, By Application
10.3.1.3. BPS Analysis, By Application
10.3.1.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
10.3.1.5. UPS Market Size & Forecast (USD Million), 2019-2025
10.3.1.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
10.3.1.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
10.3.1.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
10.3.1.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
10.3.1.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
10.3.1.11. Other Applications Market Size & Forecast (USD Million), 2019-2025
10.3.2. By Country
10.3.2.1. Market Attractiveness, By Country
10.3.2.2. BPS Analysis, By Country
10.3.2.3. Germany Market Size (USD Million), 2019-2025
10.3.2.4. United Kingdom Market Size (USD Million), 2019-2025
10.3.2.5. France Market Size (USD Million), 2019-2025
10.3.2.6. Italy Market Size (USD Million), 2019-2025
10.3.2.7. Spain Market Size (USD Million), 2019-2025
10.3.2.8. Russia Market Size (USD Million), 2019-2025
10.3.2.9. Rest of Europe Market Size (USD Million), 2019-2025

10.4. Asia Pacific Market Size (USD Million), 2019-2025
10.4.1. By Application
10.4.1.1. Introduction
10.4.1.2. Market Attractiveness, By Application
10.4.1.3. BPS Analysis, By Application
10.4.1.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
10.4.1.5. UPS Market Size & Forecast (USD Million), 2019-2025
10.4.1.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
10.4.1.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
10.4.1.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
10.4.1.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
10.4.1.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
10.4.1.11. Other Applications Market Size & Forecast (USD Million), 2019-2025
10.4.2. By Country
10.4.2.1. Market Attractiveness, By Country
10.4.2.2. BPS Analysis, By Country
10.4.2.3. China Market Size (USD Million), 2019-2025
10.4.2.4. India Market Size (USD Million), 2019-2025
10.4.2.5. Japan Market Size (USD Million), 2019-2025
10.4.2.6. South Korea Market Size (USD Million), 2019-2025
10.4.2.7. Indonesia Market Size (USD Million), 2019-2025
10.4.2.8. Taiwan Market Size (USD Million), 2019-2025
10.4.2.9. Australia Market Size (USD Million), 2019-2025
10.4.2.10. New Zealand Market Size (USD Million), 2019-2025
10.4.2.11. Rest of Asia Pacific Market Size (USD Million), 2019-2025

10.5. Latin America Market Size (USD Million), 2019-2025
10.5.1. By Application
10.5.1.1. Introduction
10.5.1.2. Market Attractiveness, By Application
10.5.1.3. BPS Analysis, By Application
10.5.1.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
10.5.1.5. UPS Market Size & Forecast (USD Million), 2019-2025
10.5.1.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
10.5.1.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
10.5.1.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
10.5.1.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
10.5.1.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
10.5.1.11. Other Applications Market Size & Forecast (USD Million), 2019-2025
10.5.2. By Country
10.5.2.1. Market Attractiveness, By Country
10.5.2.2. BPS Analysis, By Country
10.5.2.3. Brazil Market Size (USD Million), 2019-2025
10.5.2.4. Mexico Market Size (USD Million), 2019-2025
10.5.2.5. Rest of Latin America Market Size (USD Million), 2019-2025

10.6. Middle East & Africa Market Size (USD Million), 2019-2025
10.6.1. By Application
10.6.1.1. Introduction
10.6.1.2. Market Attractiveness, By Application
10.6.1.3. BPS Analysis, By Application
10.6.1.4. Power Supplies Market Size & Forecast (USD Million), 2019-2025
10.6.1.5. UPS Market Size & Forecast (USD Million), 2019-2025
10.6.1.6. Hybrid & Electric Vehicles Market Size & Forecast (USD Million), 2019-2025
10.6.1.7. HEV Charging Infrastructure Market Size & Forecast (USD Million), 2019-2025
10.6.1.8. Industrial Motor Drives Market Size & Forecast (USD Million), 2019-2025
10.6.1.9. PV Inverters Market Size & Forecast (USD Million), 2019-2025
10.6.1.10. Military & Aerospace Market Size & Forecast (USD Million), 2019-2025
10.6.1.11. Other Applications Market Size & Forecast (USD Million), 2019-2025
10.6.2. By Country
10.6.2.1. Market Attractiveness, By Country
10.6.2.2. BPS Analysis, By Country
10.6.2.3. GCC Market Size (USD Million), 2019-2025
10.6.2.4. North Africa Market Size (USD Million), 2019-2025
10.6.2.5. South Africa Market Size (USD Million), 2019-2025
10.6.2.6. Rest of Middle East & Africa Market Size (USD Million), 2019-2025

11. Competitive Landscape
11.1. Market Share of Key Players
11.2. Market Positioning of Major Players in Global Sic & GaN Power Semiconductor Market
11.3. Company Profiles
11.3.1. ViGlobal Sic Technologies Ltd
11.3.2. Panasonic Corporation
11.3.3. NXP Semiconductors N.V.
11.3.4. GaN Systems Inc.
11.3.5. Exagan S.A.S
11.3.6. Navitas Semiconductor
11.3.7. Efficient Power Conversion Corporation
11.3.8. Raytheon Company
11.3.9. Infineon Technologies
11.3.10. Fuji Electric Systems Co., Ltd.
11.3.11. Other Major & Niche Players