GaN And SiC Power Semiconductor Market Size, Outlook, Overview 2024-2033

Overview and Scope

GaN and SiC power semiconductor is a semiconductor that contrasted with SiC, a composite of silicon and carbon, and GaN, a mixture of gallium and nitrogen. Additionally, SiC and GaN have bandgaps that are bigger than those of silicon.

Sizing and Forecast

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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Segmentation & Regional Insights

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

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

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Major Driver Impacting Market Growth

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.

 Key Industry Players

Major companies operating in the GaN and SiC power semiconductor market are focusing on innovative products such as G10-GaN to drive revenues in their market. The G10-GaN is a revolutionary cluster solution for GaN-based power and radio frequency (RF) devices. For instance, in September 2023, Aixtron SE, a Germany-based technology company that specializes in the development and production of deposition equipment used in the semiconductor industry launched G10-GaN. G10-GaN platform is for high-volume production of GaN-based power and radiofrequency devices. The system is intended to provide twice as much productivity per cleanroom area and allows for a new degree of material uniformity, giving customers access to new competitive advantages. The purpose of the G10-GaN system is to facilitate the growth of the GaN industry and the manufacturing of power chips utilizing GaN-on-Si, GaN-on-SOI, and other technologies, with voltage ratings ranging from 40V to 1200V.

The gan and sic power semiconductor market report table of contents includes:

1. Executive Summary
2. GaN And SiC Power Semiconductor Market Characteristics
3. GaN And SiC Power Semiconductor Market Trends And Strategies
4. GaN And SiC Power Semiconductor Market – Macro Economic Scenario
5. Global GaN And SiC Power Semiconductor Market Size and Growth
…
31. Global GaN And SiC Power Semiconductor Market Competitive Benchmarking
32. Global GaN And SiC Power Semiconductor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The GaN And SiC Power Semiconductor Market
34.GaN And SiC Power Semiconductor Market Future Outlook and Potential Analysis
35. Appendix

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