SiC & GaN Power Devices Market, By type (GaN and SiC), By Application (Consumer Electronics, Automotive & Transportation and Industrial Use), and Regional Insights and Forecast to 2033

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SiC & GaN POWER DEVICES MARKET OVERVIEW

The global sic & gan power devices market size stood at USD 1.41 billion in 2024 and is projected to reach USD 1.87 billion in 2025, growing further to USD 17.76 billion by 2033 at an estimated CAGR of 32.5%.

The remarkable properties of silicon carbide (SiC) and gallium nitride (GaN), two wide-bandgap semiconductor materials, have attracted a lot of interest in the field of power electronics. The market has seen a great amount of growth because of this product. The product is growing a lot. The demand for this product is increasing. These components are used in power electronics applications because they are more efficient and perform better than traditional silicon-based devices, especially in high-power, high-frequency scenarios like electric vehicles and renewable energy systems.

The market is seeing a rise in the use of electric vehicles (EVs) because of their capacity to increase performance and efficiency. Electric vehicles can travel farther and operate more efficiently thanks to SiC and GaN semiconductors, which allow for higher switching frequencies and reduced power electronics losses. The product is very useful. The market for this product is growing. The demand for this product has increased. The market has seen a great amount of demand for this product. The use of SiC and GaN power semiconductors is essential for the automotive industry to meet stricter pollution standards and customer demands for longer-range electric vehicles, as well as for enhancing total vehicle performance and driving enjoyment. This factor has augmented the SiC & GaN Power Devices Market growth.

COVID-19 IMPACT

Market Growth Obstructed by Pandemic due to Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related to consumer goods. The pandemic affected the market. There was a great impact on the market. The market growth was affected the pandemic. The need for power devices did, however, increase as the globe slowly recovered from the epidemic, primarily due to a greater emphasis on energy-efficient solutions, electric vehicles, and renewable energy. The market's recovery was also aided by the necessity for dependable and effective power devices in vital industries like telecommunications and healthcare. Therefore, a small influence from COVID-19 is anticipated on the SiC & GaN Power Devices Market share.

LATEST TREND

Automobile Sector to Drive Market Growth

A latest trend has been witnessed to proliferate the market growth. This particular trend has been recorded to be the most profiting trends that have been upgraded to augment the overall market growth. The automobile sector is seeing an increasing trend of using SiC and GaN power semiconductors. The market has been growing for this product because of this trend. The growth of the market is growing because of this trend. The growth for this market has increased because of this trend. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.

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SiC & GaN POWER DEVICES MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into GaN and SiC.

• GaN : When silicon carbide (SiC) and gallium nitride (GaN) are used as semiconductor materials in the creation of sophisticated power electronic devices, the term GaN in SiC & GaN Power Devices is used.

• SiC: Alongside gallium nitride (GaN), it is a semiconductor material with a broad bandgap that is utilized in power electronics.

By Application

Based on application, the global market can be categorized into Consumer Electronics, Automotive & Transportation and Industrial Use.

• Consumer Electronics: AC/DC converters, thyristors, transistors, and diodes are examples of power devices in consumer electronics. These tools are used in electrical circuits to control and manage high power levels.

• Automotive & Transportation: Capacitors, power diodes, power MOSFETs, batteries, and fuel cells are examples of power devices used in automobiles and transportation.

• Industrial Use: Typically, semiconductor components used in power electronic systems to regulate and transform high voltage/current electricity are referred to as "power devices" in industrial contexts.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

Technological Advancements to Boost the Market

This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and also the sales and demands have been proliferation and increased its value to greater extent. Moreover, the market will experience sustainable expansion as the infrastructure supporting electric vehicles develops and the need for these cutting-edge semiconductor technologies only grows. This particular factor has been proved to a boon for this particular product market. These factors are anticipated to drive the market growth during the forecast period.

Renewable Energy to Expand the Market

This is the second major factor attributing the growth of this particular  market and has resulted in the hike of revenue numbers so much so that they are touching the skies. Clients benefit from it. This particular product market has touched new levels of lucrative revenue numbers and has also recorded to be the boon for this particular product market growth. Effective power management systems are becoming more and more in demand as renewable energy sources like solar, wind, and hydroelectric power are used more frequently. The market for SiC GaN power semiconductors is boosted by the demand for high-performance semiconductors in conversion systems and inverters used in renewable energy applications. High switching frequencies and efficiency make SiC and GaN technology perfect for controlling the energy conversion process in wind turbine converters and solar inverters.Their significance in the power semiconductor industry will be further highlighted by the growing demand for SiC and GaN semiconductors as countries around the world make investments in clean energy infrastructure to meet sustainability targets and lower carbon footprints. These factors are anticipated to drive the market growth in the present times and also during the forecast period.

Restraining Factor

High Costs to Impede Market Growth

These particular solutions have been very helpful yet extremely costly as well. This particular restraining factor has caused the revenue numbers to impede with extremely low yields and declining the sales and demand for this market. SiC and GaN power devices are manufactured using intricate and costly procedures, which raises production costs. Therefore, for certain end customers, the initial outlay needed to deploy SiC and GaN power devices may be a turnoff. The cost is anticipated to drop, though, as economies of scale are realized and the technology advances, increasing the accessibility of SiC and GaN power devices. This particular factor is anticipated to restrain the market growth and drastically reduce the sales and demands of this particular product market.

Opportunity

Past-Time Activities To Create Opportunity for the Product in the Market

This particular opportunity has been attributing the market growth immensely. The use of power devices in data centers to lower energy usage and boost efficiency is anticipated to offer possible growth prospects for the SiC and GaN power devices market over the course of the forecast year. Power distribution units (PDUs), power generators, UPSs, power panels, and power whips are among the several power flow components found in data centers. The market is therefore anticipated to grow during the projected period due to the use of high-performance power devices in data centers for even power distribution and lowering overall operating costs.

Challenge

Intricate Packaging Could Be a Potential Challenge for Consumers

There are several limitations that will prevent the market from expanding. Compared to conventional silicon-based designs, SiC-based power electronics and inverters have a far more complicated packaging. Machinery is harmed by the heat produced by SiC devices operating continuously. To manage greater voltages and currents, SiC devices need sturdy and sophisticated packaging. Consequently, the market's expansion is being hindered by the intricate packaging of power equipment. This particular factor has been drastically challenging for the market growth and has become another major restraining factor.

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SiC & GaN POWER DEVICES MARKET REGIONAL INSIGHTS

• North America

For the foreseeable future, North America is expected to account for the greatest portion of the global Thanks to the expanding automotive sector and the growing emphasis on renewable energy, North America is another sizable market for silicon batteries. High-performance batteries for energy storage systems and electric vehicles are becoming more and more popular, especially in the US. Government initiatives supporting clean energy and the presence of top tech firms funding battery R&D are fueling the market's expansion in the area. The United States SiC & GaN Power Devices Market has anticipated to augment immensely over the forecast period. Almost all of the worldwide revenue share came from North America.

• Europe

The European market for this particular market has been accounted for attributing the over all global shares for this particular product service market. The European SiC & GaN Power Devices market is currently worth a substantial amount of the global market. This region is growing because of the factors. This region has grown because of increased demand. The market for SiC and GaN power devices is expanding significantly in Europe as a result of the growing need for energy-efficient solutions in industries. The market is also expected to grow prominently because of the uptake of robotics and factory automation.

• Asia

Over the course of the projection period, Asia Pacific is anticipated to experience the quickest growth in the global SiC & GaN Power Devices market. This region has seen a great amount of growth for this market. The growth for this region is expanding because of various benefits and factors. Initiatives in these fields also encourage the adoption of these advanced semiconductors for better performance in critical infrastructure projects and efficient power management.

KEY INDUSTRY PLAYERS

Leading Players adopt Acquisition Strategies to Stay Competitive

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Top SiC & GaN Power Devices Companies

• Infineon (Germany)
• Rohm (Japan)
• Mitsubishi (Japan)
• STMicro (Switzerland)
• Fuji (Japan)
• Toshiba (Japan)

KEY INDUSTRY DEVELOPMENT

April 2023: ON Semiconductor demonstrated its commitment to environmentally friendly Internet of Things solutions with the announcement of the RSL10-Solar-Cell Multi-Sensor Platform. This cutting-edge platform combines solar cell technology with ambient sensors to enable energy harvesting for Internet of Things applications. Through the utilization of solar energy, the platform promotes environmental sustainability by increasing device autonomy and decreasing dependence on external power sources. By taking this action, ON Semiconductor is demonstrating its dedication to developing green technology and meeting the increasing need for energy-efficient Internet of Things solutions in a variety of sectors.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change market affecting the forecasting period. With detailed studies done, it also offers a comprehensive.