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PUBLISHER: SkyQuest | PRODUCT CODE: 1452838

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PUBLISHER: SkyQuest | PRODUCT CODE: 1452838

Global 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

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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 market for GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductors has experienced substantial growth and innovation in the past decade. These advanced materials have emerged as transformative alternatives to traditional silicon-based semiconductors, addressing their inherent limitations. GaN and SiC power semiconductors deliver superior performance in efficiency, switching speed, and thermal tolerance, making them well-suited for high-frequency and high-temperature applications. The increasing demand for energy-efficient electronic devices and systems across various sectors, including automotive, industrial, renewable energy, consumer electronics, and telecommunications, has been a driving force behind the market growth. GaN and SiC power semiconductors have facilitated the development of smaller, lighter, and more efficient power electronic components, thereby enhancing 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 potential to improve energy conversion efficiency and prolong battery life. Similarly, the industrial sector has adopted these semiconductors for applications such as motor drives, renewable energy inverters, and industrial automation.As research and development efforts progress, the cost of manufacturing GaN and SiC power semiconductors is expected to decline, further driving their adoption across various industries. However, challenges such as production scalability, integration complexities, and competition from mature silicon technologies persist.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Gan and Sic Power Semiconductor Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global 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.

Drivers of the Global Gan and Sic Power Semiconductor Market

GaN and SiC power semiconductors are renowned for their superior energy efficiency when compared to traditional silicon-based semiconductors. With industries and consumers increasingly prioritizing energy conservation and minimizing carbon footprints, the uptake of GaN and SiC semiconductors has surged due to their capacity to convert and manage energy more effectively.

Restraints in the Global Gan and Sic Power Semiconductor Market

GaN and SiC power semiconductors frequently entail higher initial expenses in comparison to traditional silicon-based components. Although the potential for long-term energy savings can mitigate these costs, the initial investment may serve as a deterrent to adoption for certain industries and applications.

Market Trends of the Global Gan and Sic Power Semiconductor Market

GaN and SiC power semiconductors were attracting considerable interest in the electric vehicle (EV) market. These materials possess properties that render them well-suited for power electronics applications in EVs, facilitating higher efficiency, faster charging, and extended range. SiC, specifically, was being investigated for deployment in EV inverters and onboard chargers owing to its capability to manage high voltages and temperatures effectively. Conversely, GaN was under consideration for use in DC-DC converters and various other power electronics components within EVs.

Product Code: SQMIG45O2028

Table of Contents

Executive Summary

  • Market Overview
  • Wheel of Fortune

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Sources
  • Market Size Estimation
  • Market Assumptions & Limitations

Parent Market Analysis

  • Market Overview
  • Market Size
  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges

Key Market Insights

  • Technology Analysis
  • Pricing Analysis
  • Supply Chain Analysis
  • Value Chain Analysis
  • Ecosystem of the Market
  • IP Analysis
  • Trade Analysis
  • Startup Analysis
  • Raw Material Analysis
  • Innovation Matrix
  • Pipeline Product Analysis
  • Macroeconomic Indicators
  • Top Investment Analysis
  • Key Success Factor
  • Degree of Competition

Market Dynamics & Outlook

  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges
  • Regulatory Landscape
  • Porters Analysis
    • Competitive rivalry
    • Threat of Substitute Products
    • Bargaining Power of Buyers
    • Threat of New Entrants
    • Bargaining Power of Suppliers
  • Skyquest Special Insights on Future Disruptions
    • Political Impact
    • Economic Impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Global Gan and Sic Power Semiconductor Market by Product

  • Market Overview
  • SiC power modules
  • GaN power modules
  • Discrete SiC
  • and Discrete GaN

Global Gan and Sic Power Semiconductor Market by Application

  • Market Overview
  • Power supplies
  • Industrial motor drives
  • Hybrid/Electric Vehicles (H/EVs)
  • Photovoltaic inverters
  • Traction
  • Others

Global Gan and Sic Power Semiconductor Market Size by Region

  • Market Overview
  • North America
    • USA
    • Canada
  • Europe
    • Germany
    • Spain
    • France
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2021
  • Strategies Adopted by Key Market Players
  • Top Winning Strategies
    • By Development
    • By Company
    • By Year
  • Recent Activities in the Market
  • Key Companies Market Share (%), 2021

Key Company Profiles

  • Infineon Technologies AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cree (Wolfspeed) (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • ROHM Semiconductor (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • STMicroelectronics N.V. (Switzerland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • ON Semiconductor (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mitsubishi Electric Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Fuji Electric Co., Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Littelfuse, Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Global Power Technology Group (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • BASiC Semiconductor (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • VisIC Technologies Ltd. (Israel)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Panasonic Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • GaN Systems Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Exagan S.A.S. (France)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cambridge Electronics (UK)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Avogy, Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Vincotech GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • United Silicon Carbide Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • STMicroelectronics N.V. (Switzerland)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Raytheon Company (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Genesic semiconductor Inc. (Taiwan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Transform, Inc. (US)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Alpha & Omega Semiconductor Limited (AOS) (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Renesas Electronics Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • SEMIKRON International GmbH. (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
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