Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the SiC & GaN power semiconductor industry, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034. The study offers compelling insights based on material type (SiC and GaN), components (diodes, transistors, power modules, hybrid devices), and applications (automotive and industrial) across several regions.

NEWARK, Del, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The SiC and GaN power semiconductor market is poised for exponential growth between 2024 and 2034. According to Future Market Insight (FMI), the global market is expected to reach USD 2,170.8 million in 2024, driven by rising demand for energy-efficient and high-performance power electronics. By 2034, the market is forecast to achieve a staggering USD 23,718.0 million, with a remarkable CAGR of 27.1% over the assessment period.

Currently, the SiC segment dominates the global market, holding a prominent value share of 78.3%. This can be attributed to the rising adoption of SiC power semiconductors in diverse applications, including automotive. However, the GaN segment will grow at a higher CAGR of 29.1% through 2034.

Several factors are anticipated to fuel the growth of the SiC and GaN power semiconductor industry during the next ten years. These include growing demand for electric and hybrid vehicles, growth of the renewable energy sector, and high adoption of industrial automation.

Silicon carbide (SiC) and gallium nitride (GaN) power semiconductors are becoming ideal replacements for conventional silicon-based semiconductors. This is because they offer advantages like higher efficiency, lower power losses, and higher operating temperatures.

The increasing adoption of SiC and GaN power semiconductors in power electronics applications, such as inverters and motor drives, is a key growth-shaping trend. Similarly, the high penetration of 5G technology and adoption of industrial automation systems will propel demand for SiC & GaN power semiconductors.

The market is predicted to benefit from the growing renewable energy sector. This is because these power semiconductors are widely used in PV inverters, power storage devices, and other applications.

The need for SiC and GaN power semiconductors is anticipated to soar as industries like renewable energy and electric vehicles continue to develop and demand greater performance and efficiency from power electronics. Hence, a robust CAGR has been predicted for the target market.

Improvements in semiconductor manufacturing processes are facilitating the development of more efficient and compact SiC and GaN devices. Key players strive to develop efficient and affordable power semiconductors to encourage adoption.

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Key Takeaways from the Market Report:

• The SiC & GaN power semiconductor industry is predicted to reach USD 23,718.0 million by 2034, recording a 27.1% CAGR.
• With a market share of 78.3% for 2034, the SiC segment will retain its dominance.
• By component, the transistor segment is set to grow at a robust CAGR of 28.0% through 2034.
• Based on application, the automotive segment is forecast to account for a revenue share of 74.0% in 2034.
• China is poised to emerge as the most lucrative market, registering a CAGR of 31.1%.
• Sales in the United States are estimated to total USD 3,804 million by 2034.

“Transition toward renewable energy and growing popularity of electric vehicles is anticipated to create lucrative growth prospects for the SiC & GaN power semiconductor industry through 2034.".” opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.

What are the Growth Opportunities in the SiC and GaN Power Semiconductor Market?

• Electrification of Transportation: The shift towards EVs and hybrid vehicles is fueling demand for energy-efficient power modules.
• Renewable Energy Systems: Increasing investments in wind and solar power installations are accelerating the need for high-performance semiconductors.
• Data Centers and 5G Deployment: Rising demand for faster networks and efficient data center operations presents a lucrative opportunity.
• Industrial Automation: The growing adoption of robotics and automation is driving the integration of SiC and GaN in industrial power systems.

Prime Determinants of Growth, Trends, and Opportunities

• Growing Demand for Green Energy Solutions: Stringent energy-efficiency regulations worldwide are encouraging the adoption of SiC and GaN components.
• Technological Innovation: Enhanced thermal conductivity, high voltage tolerance, and compact designs make these semiconductor packaging highly desirable.
• Supportive Policies: Government incentives for clean energy projects are driving R&D and manufacturing investments.
• Rising EV Penetration: The global EV market is expected to surpass USD 900 billion by 2030, boosting the adoption of SiC and GaN semiconductors.

Key Companies & Market Share Insights

The SiC & GaN power semiconductor market is highly competitive, with major players like Infineon Technologies AG, STMicroelectronics N.V., ROHM Co, ON Semiconductor Corporation, and others holding a significant share.

Vendors are continuously looking forward to product development, innovation, and strategic alliances to stay ahead of the competition. They are making significant investments in R&D to enhance the functionality and efficiency of SiC & GaN power semiconductors to meet the increasing demand from industrial automation, power electronics, automotive, and renewable energy sectors.

Recent Developments:

• In 2020, a new 1200V silicon carbide (SiC) MOSFET for high power industrial applications was introduced by Toshiba Electronics Europe GmbH.

• In January 2023, Japan-based Fuji Electric Co., Ltd. launched the MICREX-VieW FOCUS Evolution for monitoring and control systems.

• In 2021, ON Semiconductor, a leading American semiconductor supplier, launched new silicon carbide MOSFET module solutions for charging electric and hybrid vehicles.

Prominent players in the SiC and GaN Power Semiconductor Market invest significantly in technology upgrades and production capacity expansions. The competitive landscape includes:

• Infineon Technologies
• Cree, Inc. (now Wolfspeed)
• STMicroelectronics
• ON Semiconductor
• ROHM Semiconductor
• Texas Instruments
• Mitsubishi Electric Corporation
  

Country-wise Insights on SiC and GaN Power Semiconductor Market

Country	CAGR (2024–2034)		Growth Drivers
United States	27.6%		Booming EV market, renewable energy adoption, industrial automation trends.
Canada	29%		Growing clean energy projects and rising semiconductor investments.
Germany	26%		Strong automotive industry and focus on green energy technologies.
United Kingdom	24%		Increasing adoption of industrial automation and renewable energy systems.
China	31.1%		Leading EV manufacturing hub, renewable energy expansion, and government support for green initiatives.
Japan	28.5%		Rising EV demand, advancements in automation technologies, and strong semiconductor R&D capabilities.
South Korea	29.6%		Thriving electronics industry and increasing focus on green energy and automation.

SiC and GaN Power Semiconductor Market Segmentation

By Material Type:

• SiC
• GaN

By Component:

• Diodes
• Transistor
• Power Module
• Hybrid Devices

By Application:

• Automotive
  • Powertrain
  • On-board Charger
  • Fast & Wireless Charging
  • On-board DC/DC Converter
  • Motor Drive
  • xEV Components
  • Traction Inverters
  • Lighting System
  • LiDAR Autonomous Control
  • Others
• Industrial
  • Power Supplies
  • Charging Equipment
  • Power Storage
  • Motor Drives
  • PV Inverter
  • Traction Motor Components
  • Communication Equipment
  • Lighting System
  • Robotics Control System
  • Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East and Africa

To Gain In-Depth Insights into Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/sic-and-gan-power-semiconductor-market

Author by:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we lead with integrity, innovation, and expertise.

Contact Us:      

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Translate in German

Der Markt für SiC- und GaN-Leistungshalbleiter wird zwischen 2024 und 2034 exponentiell wachsen. Laut Future Market Insight (FMI) wird der globale Markt im Jahr 2024 voraussichtlich 2.170,8 Millionen USD erreichen , angetrieben durch die steigende Nachfrage nach energieeffizienter und leistungsstarker Leistungselektronik. Bis 2034 soll der Markt voraussichtlich unglaubliche 23.718,0 Millionen USD erreichen , mit einer bemerkenswerten durchschnittlichen jährlichen Wachstumsrate von 27,1 % während des Bewertungszeitraums.

Dieses außergewöhnliche Wachstum ist auf die zunehmende Verwendung von SiC- (Siliziumkarbid) und GaN- (Galliumnitrid) Leistungshalbleitern in erneuerbaren Energiesystemen, Elektrofahrzeugen (EVs) und industriellen Anwendungen zurückzuführen. Die Fähigkeit der Halbleiter, hohe Spannungen zu verarbeiten, Energieverluste zu reduzieren und kompakte Gerätedesigns zu unterstützen, verändert die globalen Energiesysteme.

Geografisch wird Nordamerika voraussichtlich den Markt dominieren, gestützt durch robuste Investitionen in die EV-Infrastruktur und erneuerbare Energieprojekte. Gleichzeitig entwickelt sich der asiatisch-pazifische Raum aufgrund der raschen Industrialisierung, staatlicher Anreize für saubere Energie und wachsender Kapazitäten bei der Herstellung von Halbleitern zu einer lukrativen Region.

Die Marktlandschaft wird außerdem durch technologische Fortschritte beeinflusst, darunter Leistungsgeräte der nächsten Generation und die Integration mit KI-gesteuerten Anwendungen. Wichtige Akteure investieren strategisch in Forschung und Entwicklung, um die Leistung und Zuverlässigkeit von SiC- und GaN-Komponenten zu verbessern und so sicherzustellen, dass sie immer einen Schritt voraus sind.

Wichtige Erkenntnisse aus der Marktstudie

• Marktgröße im Jahr 2024 : 2.170,8 Millionen USD
• Voraussichtlicher Marktwert im Jahr 2034 : 23.718,0 Millionen USD
• CAGR (2024-2034) : 27,1 %
• Dominante Anwendung : Elektrofahrzeuge (EVs) und erneuerbare Energiesysteme
• Führende Region : Nordamerika, gefolgt von Asien-Pazifik
• Top-Unternehmen : Infineon Technologies, Cree, STMicroelectronics, ON Semiconductor

„Fortschritte in der SiC- und GaN-Technologie sind eine Antwort auf wichtige globale Herausforderungen in Bezug auf Energieeffizienz und Nachhaltigkeit. Mit der Umstellung der Industrie auf grüne Energielösungen und Elektrifizierung wird die Nachfrage nach diesen Hochleistungshalbleitern steigen. Die transformative Wirkung von SiC und GaN zeigt sich am deutlichsten in ihrer Einführung in Elektrofahrzeugen, Solarwechselrichtern und Rechenzentren und schafft damit die Grundlage für langfristiges Wachstum“, meint Sudip Saha , Managing Director bei Future Market Insights (FMI) Analyst.

Welche Wachstumschancen gibt es auf dem Markt für SiC- und GaN-Leistungshalbleiter?

• Elektrifizierung des Transportwesens : Der Wandel hin zu Elektro- und Hybridfahrzeugen treibt die Nachfrage nach energieeffizienten Leistungsmodulen an.
• Systeme für erneuerbare Energien : Steigende Investitionen in Wind- und Solarkraftanlagen beschleunigen den Bedarf an leistungsfähigen Halbleitern.
• Rechenzentren und 5G-Bereitstellung : Die steigende Nachfrage nach schnelleren Netzwerken und effizientem Rechenzentrumsbetrieb stellt eine lukrative Gelegenheit dar.
• Industrielle Automatisierung : Der zunehmende Einsatz von Robotik und Automatisierung treibt die Integration von SiC und GaN in industrielle Stromversorgungssysteme voran.

Hauptdeterminanten für Wachstum, Trends und Chancen

• Wachsende Nachfrage nach grünen Energielösungen : Strenge Vorschriften zur Energieeffizienz weltweit fördern den Einsatz von SiC- und GaN-Komponenten.
• Technologische Innovation : Verbesserte Wärmeleitfähigkeit, hohe Spannungstoleranz und kompaktes Design machen diese Halbleiter äußerst begehrenswert.
• Unterstützende Richtlinien : Staatliche Anreize für Projekte im Bereich saubere Energie treiben Investitionen in Forschung und Entwicklung sowie in die Produktion voran.
• Steigende Verbreitung von Elektrofahrzeugen : Der globale Markt für Elektrofahrzeuge wird bis 2030 voraussichtlich die Marke von 900 Milliarden US-Dollar überschreiten und die Einführung von SiC- und GaN-Halbleitern fördern.

Wichtige Unternehmen und Einblicke in die Marktanteile

Führende Akteure auf dem Markt für SiC- und GaN-Leistungshalbleiter investieren erheblich in Technologie-Upgrades und den Ausbau ihrer Produktionskapazitäten. Das Wettbewerbsumfeld umfasst:

• Infineon Technologies
• Cree, Inc. (jetzt Wolfspeed)
• STMicroelectronics
• ON Semiconductor
• ROHM Semiconductor
• Texas Instruments
• Mitsubishi Electric Corporation
  

Länderspezifische Einblicke in den Markt für SiC- und GaN-Leistungshalbleiter

Land	CAGR (2024–2034)		Wachstumstreiber
Vereinigte Staaten	27,6%		Boomender Markt für Elektrofahrzeuge, Nutzung erneuerbarer Energien, Trends in der industriellen Automatisierung.
Kanada	29%		Wachsende Projekte im Bereich saubere Energie und steigende Investitionen in Halbleiter.
Deutschland	26%		Starke Automobilindustrie und Fokus auf grünen Energietechnologien.
Vereinigtes Königreich	24%		Zunehmende Nutzung industrieller Automatisierung und erneuerbarer Energiesysteme.
China	31,1%		Führendes Zentrum für die Herstellung von Elektrofahrzeugen, Ausbau erneuerbarer Energien und staatliche Unterstützung für grüne Initiativen.
Japan	28,5%		Steigende Nachfrage nach Elektrofahrzeugen, Fortschritte bei der Automatisierungstechnologie und starke Forschungs- und Entwicklungskapazitäten im Halbleiterbereich.
Südkorea	29,6%		Florierende Elektronikindustrie und zunehmender Fokus auf grüne Energie und Automatisierung.

Marktsegmentierung für SiC- und GaN-Leistungshalbleiter

Nach Materialtyp:

• SiC
• GaN

Nach Komponente:

• Dioden
• Transistor
• Leistungsmodul
• Hybridgeräte

Nach Anwendung:

• Automobilindustrie
  • Antriebsstrang
  • Integriertes Ladegerät
  • Schnelles und kabelloses Laden
  • Integrierter DC/DC-Wandler
  • Motorantrieb
  • xEV-Komponenten
  • Traktionsumrichter
  • Beleuchtungssystem
  • Autonome LiDAR-Steuerung
  • Sonstiges
• Industrie
  • Stromversorgung
  • Ladegeräte
  • Stromspeicher
  • Motorantriebe
  • PV-Wechselrichter
  • Antriebsmotorkomponenten
  • Kommunikationsausrüstung
  • Beleuchtungssystem
  • Roboter-Steuerungssystem
  • Sonstiges

Nach Region:

• Nordamerika
• Lateinamerika
• Europa
• Ostasien
• Südasien und Ozeanien
• Naher Osten und Afrika

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