Global SiC and GaN Power Device Market growing at a CAGR of 27.3% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Jul 2023 | Type : Press Release
Key Market Overview
The global SiC and GaN power device market was valued at USD 879.31 million in 2022 and is expected to register a compound annual growth rate of 27.3% to reach USD 5,727.78 million in 2030.
The report highlights the increasing demand for SiC and GaN semiconductors for efficient power supply in electric vehicles and renewable energy systems. Consegic Business Intelligence provides an inclusive research report on the SiC and GaN power device market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global SiC and GaN Power Device Market By Overview
The report analyses significant segments such as material, product, type, application, end-user and region, to identify emerging trends and potential opportunities. The end-user segment is expected to grow due to the increasing adoption of high-performance semiconductors in motor drives and power management systems in electric vehicles. Moreover, the increasing adoption in renewable energy systems for power generation, power storage, and power distribution applications is accelerating the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- The application of SiC and GaN power devices to improve EVs efficiency, power density, and performance is driving the growth of the market.
- The rising adoption of power devices in renewable energy systems for power generation is accelerating the growth of the market.
- The increasing adoption of consumer electronic devices is driving the demand for SiC and GaN power device market.
Restraints:
- The complex packaging of SiC-based power devices is restraining the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Material | SiC and GaN |
| By Product | Power MOSFET, Thyristor, Power Diode, IGBT, and Others |
| By Type | GaN Power Module, SiC Power Module, Discrete SiC, and Discrete GaN |
| By Application | Power Supplies, Power Storage, Wireless Charging, Hybrid and EV components, Motor Drives, PV Inverter, HEV Charging Equipment, and Others |
| By End-User | Automotive, Aerospace & Defense, Industrial, Consumer Electronics, Healthcare, Energy & Power, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global SiC and GaN power device market is highly competitive due to the presence of major players such as ALPHA & OMEGA Semiconductor, Avogy, Broadcom Limited, Cambridge Electronics, Cree Inc., Efficient Power Conversion (EPC) operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in SiC and GaN power device market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- ALPHA & OMEGA Semiconductor
- Broadcom Limited
- Cambridge Electronics
- Cree, Inc.
- Mitsubishi Electric Corporation
- GaN Systems
- Microsemi
- Qorvo
- Denso Corporation
- Navitas Semiconductor
