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GaN & SiC Power Semiconductor Market Size By Product (Silicon Carbide (SiC) Power Module, Gallium Nitride (GaN) Power Module, Discrete SiC, Discrete GaN), By Application (Power Supplies, Industrial Motor Drives, Hybrid/Electric Vehicle (H/EV), Photovoltaic (PV) Inverters, Traction), COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI3375
  • Published Date: Oct 2022
  • Report Format: PDF

Industry Statistics

GaN & SiC Power Semiconductor Market size surpassed USD 1 billion in 2022 and is poised to depict 25% CAGR from 2023 to 2032. The rapid advancements in robotics and automation in industrial applications will further boost the industry growth.
 

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Electric motor drives, the workhorses of the global industry, can become highly efficient through the incorporation of power semiconductors. The requirement for motor drives is accelerating, given the rising acceptance of robotics and industrial automation solutions. This automation trend can be attributed to government initiatives targeted toward bolstering the adoption of Industry 4.0. Moreover, the implementation of innovative technologies including cloud computing and IIoT is fueling the motor drive demand. These factors will amplify the usage of GaN and SiC power semiconductor equipment to power these drives.
 

Despite the growth trajectory, high complexity in power discrete component manufacturing may act as a hindrance to steady industry development. However, government bodies have been undertaking key measures to curb carbon emissions by accelerating the development of renewable energy sources. Initiatives such as these will augment the use of gallium nitride and silicon carbide power electronics in the renewable energy sector, generating lucrative opportunities for GaN & SiC power semiconductor market expansion.
 

Use of discrete SiC power semiconductors in EV battery inverter applications

The discrete SiC product segment is anticipated to attain over 20% gains through 2032. The product’s ability to withstand high temperatures is promoting discrete SiC semiconductor use in power electronic cooling systems. The high preference for this semiconductor in electric vehicle inverter applications will thus bolster the market outlook by 2032.
 

Increasing emphasis on vehicle emission reduction

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GaN & SiC power semiconductor market revenues from the hybrid/electric vehicle segment will reach USD 3 billion by 2032. The advancement of automotive technologies and the strong awareness of the detriments of vehicle emissions are key reasons for the integration of SiC and GaN semiconductors. As the high operating temperature attribute can help reduce the requirements of cooling systems, the component demand will surge in hybrid-electric and full-electric vehicles.
 

Europe emerges as a lucrative revenue pocket for the manufacturers

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The Europe GaN & SiC power semiconductor market size is slated to witness 20% growth rate through 2032, considering the popularity of robotics and rapid factory automation. For example, in October 2021, OMRON’s automation center in Europe received a redesign. This updated center was intended to allow customers to experience the benefits of an automated and intelligent factory. To gain a competitive advantage, OEMs have also been targeting to modernize facilities through the integration of industrial robots, augmenting the utilization of GaN and SiC power semiconductors in the region.
 

Asia Pacific held nearly 40% of the market share in 2022, on account of the strong demand for power supply equipment in countries such as China and India. Rapid innovation in automotive electronics is also emerging as a key trend. These factors are anticipated to promote the supply of power semiconductors for automotive electronics applications in the region.
 

Business collaboration efforts to remain a key growth strategy

Mitsubishi Electric Corporation, Renesas Electronics Corporation, Fuji Electric Co., Ltd., Infineon Technologies AG, ON Semiconductor Corporation, ROHM CO., LTD., SEMIKRON, STMicroelectronics N.V., Vishay Intertechnology, Littelfuse, Inc., and Wolfspeedic are some of the key players operating in the GaN & SiC power semiconductor market. These companies are implementing strategies such as acquisitions and collaborations to strengthen their foothold in the industry.
 

For instance, in April 2022, ROHM Semiconductor and Delta Electronics collaborated to combine their technology and manufacturing expertise for the mass production of GaN-based power devices. This power system development initiative will enable the company to establish a strong presence in the global market.
 

Impact of COVID-19 outbreak on industry dynamics

Supply chain disruptions during the COVID-19 pandemic posed a profound impact on industry verticals including renewable energy. Supply challenges resulted in a spike in solar panel component prices worldwide. Challenges such as these will hinder the production of semiconductors for use as switching components in PV inverter circuits and other clean energy applications. However, with the steady economic recovery, the GaN & SiC power semiconductor market will likely experience gradual growth during 2023-2032.
 

This market research report on GaN & SiC power semiconductor includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

Market, by Product

  • SiC power modules
  • GaN power modules
  • Discrete SiC
  • Discrete GaN

Market, by Application

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

The above information is provided on a regional and country basis for the following:

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia

Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Taiwan

Latin America

  • Brazil
  • Mexico

MEA

Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

market size of GaN & SiC power semiconductor surpassed USD 1 billion in 2022 and is poised to register 25% CAGR between 2023 and 2032, due to rapid industrial automation.
The GaN & SiC power semiconductor industry revenues from the hybrid & electric vehicle segment will be worth USD 3 billion by 2032, given the advancement of automotive technologies and the strong desire to cut down vehicle emissions.
The market of GaN & SiC power semiconductor in Europe is slated to attain 20% gains through 2023-2032, owing to the growing adoption of robotics and rapid factory automation.
Key players in the business scenario include Mitsubishi Electric Corporation, Renesas Electronics Corporation, Infineon Technologies AG, ON Semiconductor Corporation, ROHM CO., LTD., and Wolfspeedic, among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 191
  • Countries covered: 15
  • Pages: 170
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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