GaN and SiC Power Semiconductor Market Size By Product (SiC Power Module, GaN Power Module, Discrete SiC, Discrete GaN), By Application (Power Supplies, Industrial Motor Drives, H/EV, PV Inverters, Traction), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

GaN and SiC Power Semiconductor Market size estimated at USD 400 million in 2018 and will grow at a CAGR of over 30% from 2019 to 2025.
 

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The GaN and SiC power semiconductor market is expected to have a lucrative growth over the forecast timeframe due to rapid growth and technological advancements in the semiconductor industry. These devices are being extensively adopted for power supply equipment and the demand is further expected to increase for charging infrastructure, rail traction, and renewable power among others. The growing need for power efficiency in automotive electronics and industrial applications is propelling the implementation of semiconductor materials & technologies contributing towards the market.
 

SiC MOSFETs and diodes offers high switching frequency and high-power density and are ideally suited for electric vehicle onboard chargers. The electric vehicles industry is witnessing rapid growth due to the initiatives from several governments across the globe. For instance, the Chinese government announced a New Energy Vehicle (NEV) mandate in September 2017, for promoting new energy vehicles. These factors are expected to influence the market growth. China has become a rapidly growing market for electric vehicles. According to the China Passenger Car Association, sales of electric vehicles increased by 118% in first quarter of 2019 compared to same period in 2018. Additionally, Tesla has invested USD 5 billion for its new manufacturing plant in China. The GaN and SiC power semiconductor market is expected to benefit from the growing adoption of electric vehicles.
 

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GaN and SiC Power Semiconductor Market, By Product

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SiC power modules is projected to grow at a CAGR of over 35% over the future. These modules have emerged as important component in power applications due to their capabilities and features such as wider band gap, less thermal expansion, and ability to operate in different conditions due to hardness. These modules are hence being adopted over conventional silicon semiconductors and are contributing towards the GaN and SiC power semiconductor market growth. The limitations due to material characteristics of conventional semiconductor materials have resulted in the growing implementation of SiC modules.
 

The GaN power modules also have a wider band gap, allowing them to sustain at wider voltages. The GaN power semiconductors consume very low power and can be fit in small areas, making them easy to integrate into application devices. The higher critical electric field of these modules make them preferred for power semiconductor applications. The GaN materials can be used at higher temperatures than the conventional silicon and have a wider band gap, making them highly suitable for critical environment applications. According to the University of Bristol, the replacement of current electronics with GaN devices can reduce power consumption by up to 25%.
 

GaN and SiC Power Semiconductor Market, By Application

The GaN and SiC power semiconductor market is witnessing significant growth in application areas such as power supplies and electric vehicles. Rising energy demand in the U.S. has created a need for system efficiency to cater the demand. The Wide Band Gap (WBG) devices help in reducing the loss of energy during power conversions. The demand for power supply is ever growing with wide application areas in consumer electronics and industrial applications. The need for energy-efficient materials in power supplies is adding to the growth of the market. The power supply applications require to sustain large currents and high voltages.
 

Another key application area influencing the industry growth is industrial motor drives. These power semiconductor devices play a significant role in driving motors, particularly in switching them from low to high speeds. The growing awareness for energy saving and reduction in power consumption in recent years has influenced the GaN and SiC power semiconductor market owing to their low power consumption capabilities.
 

GaN and SiC Power Semiconductor Market, By Region

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Asia Pacific is expected to be one of the key regions for the GaN and SiC power semiconductor market. The countries in Asia Pacific, particularly India and China, are among the largest industrial markets requiring extensive demand for power supply equipment. Significant presence of resources such as raw materials and cheap labor is strengthening the production facilities in the region. This has created significant growth opportunities for the market in applications like industrial motor drives.
 

The flourishing automotive production in China and the rapid technological advancements in automotive electronics have opened considerable opportunities for the GaN and SiC power semiconductor market growth. The presence of several automakers and component manufactures is expected to further add to the industry growth. The emergence of solar energy applications implementation of power semiconductor devices is expected to influence the industry growth in the region. The PV inverters used for in solar energy applications can be implemented with the SiC diodes to provide high energy efficiency by reducing the switching losses.  
 

Competitive Market Share

Infineon Technologies AG, Sanken Electric Company, ROHM Semiconductor, and Panasonic Corporation GaN Systems are some of the major companies operating in the GaN and SiC power semiconductor market. Infineon holds a high market share and operates through various divisions such as automotive electronics, power management, and industrial power control. The company recorded revenue growth of 9% in 2018. The companies are focused on developing these devices achieve lower costs, greater power efficiency, and compact size.
 

GaN and SiC power semiconductor market have widened with frequent product launches from manufacturers for application-specific offerings due to increasing demand for various applications. With a reduction in costs of semiconductors, the companies are focusing on product developments to gain more market share. In October 2017, Littlefuse introduced company’s first range of SiC MOSFETs for strengthening its power semiconductor line. ROHM in December 2017 tested the SiC based power modules for FORMULA E racing cars.
 

Industry Background

Silicon is a widely used material for semiconductor power devices. However, silicon-based devices used in semiconductor technologies are having difficulties to provide the required efficiency demand due to material limits. Energy losses in power conversions, operating temperature limitations, and lower band gaps have created the need for more capable materials for the power electronics industry. As a result, the semiconductor industry has seen ongoing efforts to find viable alternatives, driving the need for alternatives and more capable materials. Owing to the need for more capable and efficient devices, the GaN and SiC power semiconductor market has been developing in various industries.
 

The remarkable growth of the semiconductor industry with several innovations and advancements is influencing the use of these devices in a wide range of application areas. The automotive sector, traction systems, and consumer electronics are expected to be the major industries fueling the demand for these devices. High operating temperatures, very low energy losses, and high breakdown voltage are some of the advantages.