WBG Power Devices Market Size, Share, Growth and Industry Analysis by Type (GaN, And, SiC) By Application (Communication, Automotive, Consumer Electronics, Defense/Aerospace, And, Healthcare) Regional Forecast To 2031

Updated On: 08 April 2024

WBG Power Devices Market Report Overview

• 

•  Request a Free Sample to learn more about this report

The global WBG power devices market size is anticipated to be worth USD 798.45 million in 2022. As per our research, the market is projected to touch USD 11451.24 million in 2031 with a CAGR of 29.41% during the forecast period.

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 spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Wide bandgap (WBG) devices are semiconductors which are made up of silicon carbide, and gallium nitride. They are very helpful in providing excellent performance when compared to just silicon. They have higher efficiency and are also capable of operating at higher temperatures. These devices are in high demand.

Wide bandgap devices have many features like resistance to high temperatures and operations in high frequency. Such features have made it applicable in several industries. This is considered as the latest development in the market.

WBG devices are very well known for their energy saving capacities and they operate with higher 10 times more efficiency compared to other silicon-based semiconductors. These factors have contributed in the WBG power devices market growth.

COVID-19 impact: Dip in Demand for Automobiles Decreased Market Growth

WBG power devices are composed of semiconductor material. These power devices are small and are better than their silicon counterparts. The pandemic of COVID-19 reduced the demand for every market around the world. The same effect was seen on the WBG power devices.

WBG devices are used mainly in the automobile industry. During the pandemic automobile sector was impacted negatively as the manufacturing of automobiles stopped temporarily. Decrease in the demand for automobiles reduced their production as well which brought down the WBG power devices market growth during pandemic period.

LATEST TRENDS

"Excellent Features of WBG Power Devices to Increase Market Growth"

WBG devices are highly efficient and are used in a lot of sectors. The reason for wide application of these devices is some of its advanced features. The features are driving the market growth.

These devices have the capacity to take in high temperature, are very small, work very rapidly and are integrated with reliable power electric components. When compared to other silicon devices these power devices are highly efficient. Because of all these factors the weight, life-cost cycle as well as volume is reduced. This enables these devices to be used in a wide array of applications. When all the qualities of WBG devices are properly utilized a massive amount of energy can be saved in high energy consuming devices. The voltage and frequencies can also be increased. Highly efficient features of the power devices are prone to bring vast growth to WBG power devices market share.

WBG Power Devices Market Segmentation

• 

•  Request a Free Sample to learn more about this report

• By Type:

The market can be divided on the basis of type into the following segments:

GaN, and, SiC. The GaN segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Communication, automotive, consumer electronics, defense/aerospace, and, healthcare. The entrance assessment services segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"High Power Saving Capacities of WBG Power Devices to Accelerate Market Growth"

One of the most remarkable features of this equipment is its ability to save a large amount of energy. Around 90% of power loss is prevented using this equipment. Energy saving feature of this power device is a major factor driving the market growth.

Other silicon-based products and semi-conductors underperform when compared to this device. WBG power devices perform 10 times more. They operate up to a higher maximum temperature because of which the reliability of the device system increases. Using of lighter and smaller systems will decrease lifestyle cycle energy. These products are less costly as they operate at higher frequencies. All of these factors have resulted in tremendous growth of the market.

"Replacement of Silicon Technology by WGB Semiconductors to Propel Market Growth "

An important trend in the market is the replacement of the silicon semiconductors with wide bandgap devices. Multiple technological industries and applications are integrating this leading to an increase in the demand. 

Efficiency and power density improvements usually help in saving cost. They also facilitate high performance in future power applications. Aerospace industry is also a consumer of the wide bandgap power devices. With the help of these devices thinner as well as longer wings are produced. These features of WBG power devices are acting as factors fueling the market growth.

RESTRAINING FACTOR

"Challenges Pertaining to Manufacturing to Bring Down Market Growth"

There are several challenges and difficulties that the manufacturers have to go through to produce these power devices. Larger-diameter wafers are costly to produce. The cost of manufacturing these needs to be reduced in order to operate efficiently. These factors can deteriorate the market progress.

Certain designs will not be able to achieve the required voltage and current ratings. When WBG devices reach a very high temperature the materials they are made up of should be able to withstand the heat. Sometimes there might be a requirement for redesigning the system to make the devices work according to their capabilities. 

WBG Power Devices Market Regional Insights

• 

•  Request a Free Sample to learn more about this report

"North America to Dominate the Market in Upcoming Years"

North America is predicted to dominate the market as it holds the largest market share. The main reason for the increase in the share of the market in this region is the quick growth of automobile industries in several countries. A lot of people are dependent on automobiles like cars and bikes for their mobility.

Other than this it used in devices like string inverters, auxiliary power, EV charging and traction inverters. The amazing features of these equipments is also making it suitable to be used in several industries. All of this has created lucrative growth opportunities for WBG power devices in North America.

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 Market Players Profiled

• POWDEC (Japan)
• Cambridge Electronics (U.S.)
• Efficient Power Conversion    (EPC) (U.S.)
• Avogy (U.S.)
• EXAGAN (Australia)
• Transphorm (U.S.)
• STM (Switzerland)
• ROHM (Japan)
• Panasonic (Japan)
• IEPC (India)
• VisIC (Israel)
• ALPHA & OMEGA Semiconductor (U.S.)
• Infineon (Germany)
• Broadcom Limited (U.S.)
• Fuji Electric (Japan)
• NXP (Netherlands)
• Cree (U.S.)
• GaN Systems (U.S.)

Report Coverage

The report provides an insight into the global and United States talent assessment industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. This report is very useful for forecasting the future of this technology.