PUBLISHER: The Business Research Company | PRODUCT CODE: 1664330
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664330
GaN (Gallium Nitride) and SiC (Silicon Carbide) power semiconductors are types of semiconductors composed differently from silicon, with SiC being a composite of silicon and carbon, and GaN being a compound of gallium and nitrogen. Moreover, SiC and GaN possess wider bandgaps compared to silicon.
The primary products within the GaN and SiC power semiconductor category comprise SiC power modules, GaN power modules, discrete SiC components, and discrete GaN components. SiC power modules are specifically designed with silicon carbide semiconductors as switches. These components find application across various sectors, including power supplies, industrial motor drives, hybrid or electric vehicles (H/EVs), photovoltaic inverters, traction systems, among others, and are distributed through both direct and indirect channels in the market.
The GaN and SiC power semiconductors market research report is one of a series of new reports from The Business Research Company that provides GaN and SiC power semiconductors market statistics, including GaN and SiC power semiconductors industry global market size, regional shares, competitors with a GaN and SiC power semiconductors market share, detailed GaN and SiC power semiconductors market segments, market trends and opportunities, and any further data you may need to thrive in the GaN and SiC power semiconductors industry. This GaN and SiC power semiconductors market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The GaN And SiC power semiconductor market size has grown exponentially in recent years. It will grow from $1.42 billion in 2024 to $1.71 billion in 2025 at a compound annual growth rate (CAGR) of 20.3%. 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 $3.43 billion in 2029 at a compound annual growth rate (CAGR) of 19.1%. 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.
The increasing adoption of electric vehicles is anticipated to drive the growth of the GaN and SiC power semiconductor market in the future. An electric vehicle is defined as a vehicle powered by an electric motor that draws energy from a rechargeable battery. Gallium nitride power semiconductors are utilized in electric vehicles for high-efficiency power transistors and integrated circuits. SiC power semiconductors offer several advantages over silicon, such as a breakdown electric field strength that is 10 times greater and a band gap that is 3 times wider, making them suitable for electric vehicles. For example, in June 2024, a report by the International Energy Agency (IEA), a France-based intergovernmental organization, noted that energy efficiency investments increased by 16% to USD 600 billion in 2022, spurred by government stimulus programs. Global heat pump sales also rose over 10%, with nearly 40% growth in Europe, while electric vehicles represented 14% of global car sales, with projections to reach 18% in 2023. Consequently, the rising penetration of electric vehicles is fueling demand for the GaN and SiC power semiconductor market.
The rapid and extensive deployment of renewable energy sources is anticipated to be a significant driver for the growth of the GaN and SiC power semiconductor market. This deployment involves harnessing energy from sources such as solar, wind, hydropower, and geothermal energy to generate electricity. GaN and SiC semiconductors stand out due to their higher efficiency, facilitating the seamless integration of renewable energy into the power grid. Supporting this, a report from the National Renewable Energy Laboratory in April 2023 highlights global photovoltaic installations reaching 231 gigawatts in 2022, with China leading the surge, contributing 42% to global demand and forecasting installations exceeding 300 GW by 2023 and surpassing 400 GW by 2025.
A prominent trend in the GaN and SiC power semiconductor market is the focus on technological advancements, with key industry players striving to develop cutting-edge solutions. Notably, in May 2022, Infineon Technologies, a prominent German semiconductor manufacturing company, unveiled its extended CoolSiC portfolio. This advanced silicon carbide (SiC) chip, featuring high-voltage solutions, is positioned as the foundation for the next generation. The technology introduces a low drain-source on resistance and offers ten times less FIT rate from cosmic rays compared to 1700 V SiC MOSFETs. Additionally, it provides an overvoltage tolerance, simplifying operation due to the wide functioning gate voltage range.
Major players within the GaN and SiC power semiconductor market are strategically focusing on innovative offerings, such as the groundbreaking G10-GaN, to enhance revenue streams. A notable example is Aixtron SE, a Germany-based technology company, which introduced the G10-GaN platform in September 2023. This revolutionary cluster solution is tailored for the high-volume production of GaN-based power and radiofrequency devices. The G10-GaN system aims to deliver twice the productivity per cleanroom area, ushering in a new level of material uniformity that provides customers with distinct competitive advantages. Designed to foster the growth of the GaN industry, the system facilitates the manufacturing of power chips utilizing various technologies, including GaN-on-Si and GaN-on-SOI, with voltage ratings spanning from 40V to 1200V.
In October 2023, Infineon Technologies AG, a leading German semiconductor manufacturer, completed the acquisition of GaN Systems Inc. for a significant $830 million. This acquisition marks a substantial leap in Infineon's GaN roadmap, solidifying its position as a prominent player in the GaN landscape. By integrating GaN Systems Inc., a Canada-based company specializing in gallium nitride (GaN) power semiconductors, Infineon gains access to an extensive array of GaN-based power conversion technologies and cutting-edge application expertise. This strategic move not only reinforces Infineon's standing as an industry leader in power semiconductors but also accelerates time-to-market for innovative solutions.
Major companies operating in 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, SweGaN AB, ON Semiconductor Corporation, Efficient Power Conversion Corporation, Navitas Semiconductor Corporation, Power Integrations Inc., Resonac Co. Ltd., SICC Semiconductor Corporation, Sumitomo Electric Industries Ltd., Showa Denko K.K.
Asia-Pacific was the largest region in the GaN and SiC power semiconductor market in 2024. 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
The countries covered in the gan and sic power semiconductor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
GaN and SiC power semiconductor market consists of sales of GaN and SiC power semiconductors made with RF components, and light-emitting diodes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
GaN And SiC Power Semiconductor Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gan and sic power semiconductor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gan and sic power semiconductor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gan and sic power semiconductor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.