GaN and SiC Power Semiconductor, Growth, Opportunity 2025 to 2034

GaN And SiC Power Semiconductor

What Is The Current and Future Market Outlook For GaN and SiC Power Semiconductors?
The GaN And SiC power semiconductor market size has experienced exponential growth, increasing from $1.42 billion in 2024 to an estimated $1.71 billion in 2025 at a compound annual growth rate (CAGR) of 20.3%. The growth during this historic period can be attributed to the escalating demand for energy efficiency, growing industry needs for high-power applications, miniaturization and rising frequencies, temperature and voltage handling, and cost competitiveness over time.

In the next few years, rapid growth is also expected in the GaN And SiC power semiconductor market, predicted to soar to $3.43 billion in 2029 at a compound annual growth rate (CAGR) of 19.1%. Factors contributing to this forecasted growth include increasing demand for electric vehicles, expansion in renewable energy, developments in 5G and telecommunications, industrial automation and the Internet of Things (IoT), and a rising consumer electronics market.

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What Are The Drivers Propelling GaN and SiC Power Semiconductor Market Growth?
The uptick in electric vehicle use is a key factor driving the growth of the GaN and SiC power semiconductor market. Electric vehicles are powered by an electric motor that runs on power from a battery which can be externally charged. Electric vehicles increasingly use Gallium nitride power semiconductors for high-efficiency power transistors and integrated circuits. Furthermore, SiC power semiconductors have numerous advantages over silicon, including 10x the breakdown electric field strength, and 3x the bandgap. With projections indicating a rise in global car sales to comprise 18% electric vehicles by 2023, the sustainability of this market growth is assured.

What Are The Key Segments In The GaN And SiC Power Semiconductor Market?

1) By Product: SiC Power Module, GaN Power Module, Discrete SiC, Discrete GaN
2) By Application: Power Supplies, Industry Motor Drives, Hybrid Or Electric Vehicles (H Or EVs), Photovoltaic Inverters, Traction, Other Applications
3) By Distribution Channel: Direct, Indirect

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Who Are The Major Players In The GaN And SiC Power Semiconductor Market?
Major contributors to the GaN And SiC power semiconductor market include NXP Semiconductors N.V., Alpha & Omega Semiconductor Limited, Fuji Electric Systems Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Microchip Technology Incorporated, Mitsubishi Electric Corporation, Renesas Electronics Corporation, ROHM Co. Ltd., STMicroelectronics N.V., Transphorm Inc., GeneSiC Semiconductor Inc., Wolfspeed Inc., VisIC Technologies Ltd., Panasonic Holdings Corporation, GaN Systems Inc., SEMIKRON International GmbH, Sanken Electric Co. Ltd., Epiluvac AB, IQE Plc, among others.

What Emerging Trends Are Influencing The GaN & SiC Power Semiconductor Market?
Technological advancements constitute a key trend shaping the GaN & SiC power semiconductor market. Companies such as Infineon Technologies have introduced advanced silicon carbide (SiC) chip technology, which provides significant efficiency improvements over existing solutions and features resistance to cosmic rays with ten times fewer FIT rates than 1700 V SiC MOSFETs. This product enhancement is just one of many sought after by companies to maintain a competitive edge in the market.

Which Region Is Leading The GaN And SiC Power Semiconductor Market?
In 2024, Asia-Pacific was the dominant player in the GaN and SiC power semiconductor market. Other regions making significant contributions include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

What Does The GaN And SiC Power Semiconductor Market Report 2025 Offer?
The GaN and SiC power semiconductor market comprises semiconductors that contrast with SiC, a composite of silicon and carbon, and GaN, a combination of gallium and nitrogen. Moreover, SiC and GaN possess bandgaps larger than those of silicon. The GaN And SiC Power Semiconductor Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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