Global Next Generation Power Semiconductors Market to Reach USD 1,807.04 Million by 2031 | CAGR of 6.8%
Category : Semiconductor And Electronics | Published Date : Oct 2024 | Type : Press Release
Next Generation Power Semiconductors Market Scope & Overview:
As per the Consegic Business Intelligence newly published report the Global Next Generation Power Semiconductors Market was valued at USD 1,097.61 Million in 2022 and is expected to grow at a CAGR of 6.8% during the forecast period, reaching USD 1,807.04 Million by 2031. Next-generation power semiconductors are critical components used in power electronics circuits to control or convert electric power. These devices use advanced materials like Gallium Nitride (GaN) and Silicon Carbide (SiC) for superior efficiency, higher power density, and better thermal management.
The report comprises the Next Generation Power Semiconductors Market Share, Size & Industry Analysis, By Material Type (GaN and SiC), By End-User (Automotive, Telecommunication, Electronics, Power Generation, Aerospace & Defense, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
The report contains detailed information on Next Generation Power Semiconductors Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing demand for next-generation power semiconductors in the automotive industry, particularly in electric vehicles (EVs) and autonomous systems, is driving market growth. Additionally, the rising demand for energy-efficient devices in the consumer electronics sector is significantly contributing to the increasing adoption of these semiconductors.
Segmental Analysis :
Based on material type, the market is segmented into GaN (Gallium Nitride) and SiC (Silicon Carbide).
- The GaN segment held the largest market share in 2022, owing to its high efficiency and performance in various applications, including automotive and telecommunications.
- The SiC segment is anticipated to register the fastest growth due to its increasing application in electric vehicles, power generation, and industrial applications where high thermal conductivity and breakdown voltage are required.
Based on the end-user, the market is divided into automotive, telecommunication, electronics, power generation, aerospace & defense, and others.
- Electronics accounted for the largest share in 2022, driven by the growing demand for semiconductors in smartphones, laptops, and consumer devices.
- The automotive sector is expected to witness the fastest growth, driven by the increasing adoption of electric vehicles and advancements in autonomous driving technologies.
Based on regions, the global market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
- North America accounted for the largest market share in 2022, driven by the increasing deployment of next-generation power semiconductors in the automotive and telecommunications sectors.
- Asia Pacific is expected to witness the fastest growth, fueled by rapid industrialization and the expansion of consumer electronics, automotive, and power generation industries in countries like China and India.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | 1,807.04 Million |
| CAGR (2024-2031) | 6.8% |
| By Material Type | GaN, SiC |
| By End-User | Automotive, Telecommunication, Electronics, Power Generation, Aerospace & Defense, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Next Generation Power Semiconductors Industry:
- NXP Semiconductors
- Fuji Electric Co. Ltd.
- Infineon Technologies AG
- STMicroelectronics
- Littelfuse Inc.
- GaN Systems
- Renesas Electronics Corporation
- Wolfspeed Inc.
- Toshiba
- ROHM Co. Ltd.
- Mitsubishi Electric Corporation
Recent Industry Developments :
- In September 2023, Infineon Technologies AG collaborated with Infypower, a company specializing in new energy vehicle charging. The collaboration enables Infineon to provide CoolSiC MOSFET power semiconductor devices to enhance the operational efficiency of electric vehicle charging stations.
