Strategic Analysis of WBG Semiconductors in Power Electronics Applications for EVs, Forecast to 2030

Strategic Analysis of WBG Semiconductors in Power Electronics Applications for EVs, Forecast to 2030

The increasing use of electric vehicles (EVs) worldwide boosts power semiconductor demand. Government laws and subsidies, original equipment manufacturers' (OEMs') dedication to net zero emissions, and sustainability goals accelerate EV penetration in the vehicle industry. This study focuses on wide bandgap (WBG) semiconductors for the North American EV market. Silicon carbide (SiC) and gallium-nitride (GaN) are the 2 WBG technologies that overcome the limitations of silicon in EVs. The semiconductor content of an EV is 2 to 3 times higher than conventional ICE, and almost 75% of this comes from power semiconductors.

Frost & Sullivan estimates the EV market will continue double-digit growth until the decade's end. The WBG semiconductor market is sizable, expanding, and highly fragmented, providing a significant opportunity for new competitors. High-voltage, high-performance power semiconductors will continue to be vital for EVs and a growing part of the semiconductor segment in the forecast period.

The study aims to understand the impact of new regional policies, Chips Act 2022, highlights drivers and restraints, performance differences of WBG semiconductor materials, patent landscape, and key vendors in the ecosystem. The automotive EV components covered are main inverters, onboard chargers, and DC-DC converters. Based on the analysis, WBG semiconductor content will rise 2 times in EVs, from 2026 to 2027, due to OEM adoption of 800 V electrical architecture.

This report provides an outlook on the WBG semiconductor device market for EVs, focusing on North American automotive OEM demand. The key North American OEMs identified are Tesla, GM, Ford, Lucid, and Rivian, adopting WBG or compound semiconductor technology. The report forecasts the demand for WBG based on upcoming EVs till 2030. In addition, a few North American supplier profiles discussed are Wolfspeed, onsemi, Odyssey Semiconductor, Qorvo, Navitas Semiconductor, and GaN Systems.