Global Wide Band Gap (WBG) Power Devices Market growing at a CAGR of 24.6% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : May 2023 | Type : Press Release
Key Market Overview
The Global Wide Band Gap (WBG) Power Devices Market was valued at USD 1,350.0 Million in 2022 and is expected to register a compound annual growth rate of 24.6% to reach USD 7,717.69 Million in 2030.
The report highlights the increasing demand for high-performance power devices in automotive industry for powering electric and hybrid electric vehicles. Consegic Business Intelligence provides an inclusive research report on the laser displacement sensor market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Wide Band Gap (WBG) Power Devices Market By Overview
The report analyses significant segments such as material, application, end-user, and region, to identify emerging trends and potential opportunities. The material segment is expected to grow as SiC-based power devices are widely used for high-power and high-voltage applications, such as power transmission and electric vehicle charging. Moreover, GaN-based power devices are fabricated on smaller wafer sizes. As a result, GaN power devices are suitable for application in portable electronics, and data centers, resulting in the market growth.
Get Free SampleMarket Dynamics
Driver:
- The increasing adoption of high-performance semiconductors in data centers due to growing amount of data is driving the growth of wide band gap (WBG) market.
- The growing demand for generation of electricity from renewable sources of energy such as solar and wind energy is propelling the growth of the market.
- Growing demand for wide band gap power devices in automotive industry to power electric and hybrid electric vehicles is accelerating the growth of the market.
Restraints:
- The complex manufacturing processes of wide band gap power devices is restraining the growth of the market.
- Emission of Infrared (IR) radiation during the doping process of semiconductor devices is hindering the growth of the market
Market Segmentation:
| Report Attributes | Report Details |
| By Material | Silicon Carbide, Diamond Substrate, Gallium Nitride, Zinc Oxide, and Others |
| By Application | Renewable Energy, Vehicle Electrification, Industrial Motor Drives, Uninterrupted Power Supply, 5G Communications, and Others |
| By End-User | Automotive, Energy and Utility, Industrial, Aerospace & Defense, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The Global Wide Band Gap (WBG) Power Devices Market is highly competitive due to the presence of major players such as Navitas Semiconductor, Cree Inc., Infineon Technologies AG, Avago Technologies, Nexperia, ROHM Semiconductors, STMicroelectronics, Infineon Technologies AG 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 wide band gap power devices are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Navitas Semiconductor
- Cree Inc.
- Infineon Technologies AG
- Avago Technologies
- Nexperia
- ROHM Semiconductors
- STMicroelectronics
- Infineon Technologies AG
- Transphorm Inc.
- Microchip Technology Inc.
