Wide-Bandgap Power (WBG) Semiconductor Devices

Global Wide-Bandgap Power (WBG) Semiconductor Devices Market to Reach US$10.9 Billion by 2030

The global market for Wide-Bandgap Power (WBG) Semiconductor Devices estimated at US$2.4 Billion in the year 2024, is expected to reach US$10.9 Billion by 2030, growing at a CAGR of 28.4% over the analysis period 2024-2030. Silicon Carbide (SiC), one of the segments analyzed in the report, is expected to record a 28.5% CAGR and reach US$6.3 Billion by the end of the analysis period. Growth in the Gallium Nitride (GaN) segment is estimated at 30.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$694.6 Million While China is Forecast to Grow at 37.8% CAGR

The Wide-Bandgap Power (WBG) Semiconductor Devices market in the U.S. is estimated at US$694.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2030 trailing a CAGR of 37.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 19.7% and 23.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 23.3% CAGR.

Global Wide-Bandgap Power (WBG) Semiconductor Devices Market - Key Drivers and Trends Summarized

Wide-bandgap (WBG) power semiconductor devices are advanced electronic components designed to operate at higher voltages, temperatures, and frequencies compared to traditional silicon-based semiconductors. WBG materials, such as silicon carbide (SiC) and gallium nitride (GaN), offer superior electrical properties, including higher breakdown voltage, greater thermal conductivity, and faster switching speeds. These advantages make WBG devices ideal for a range of high-performance applications in industries such as automotive, aerospace, telecommunications, and renewable energy. In particular, WBG semiconductors are critical for the development of efficient power electronics, including inverters, converters, and power supplies, which are essential for electric vehicles, smart grids, and advanced industrial machinery.

Technological advancements have been pivotal in the development and commercialization of WBG power semiconductor devices. Improvements in material quality and manufacturing processes have led to higher efficiency and reliability of WBG devices, making them more viable for mass production. Advances in epitaxial growth techniques and substrate fabrication have enhanced the performance and yield of SiC and GaN devices. Additionally, the integration of WBG semiconductors with other advanced technologies, such as wide-bandgap ICs and advanced packaging solutions, has enabled the development of more compact, efficient, and thermally manageable power modules. These technological strides are reducing costs and expanding the adoption of WBG devices across various sectors.

The growth in the wide-bandgap power semiconductor devices market is driven by several factors. The increasing demand for energy-efficient and high-performance power electronics in electric vehicles and renewable energy systems is a major driver. The growing focus on reducing carbon emissions and enhancing energy efficiency is boosting the adoption of WBG devices in various industrial applications. Technological advancements in material science and semiconductor fabrication are improving the performance and cost-effectiveness of WBG devices, driving their market penetration. The rising investment in infrastructure for smart grids and telecommunications is also propelling demand for WBG semiconductors. Additionally, regulatory trends and government initiatives promoting the use of energy-efficient technologies are contributing to market growth. Finally, the increasing awareness of the benefits of WBG semiconductors in terms of performance, reliability, and energy savings is encouraging their adoption across diverse applications, creating new opportunities in the market.

SCOPE OF STUDY:

The report analyzes the Wide-Bandgap Power (WBG) Semiconductor Devices market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Silicon Carbide (SiC), Gallium Nitride (GaN), Other Types); Application (EVs / HEVs, UPS & Power Supplies, PV Inverters, Industrial Motor Drives, Railway Traction Systems, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 49 Featured) -

• Fuji Electric Co. Ltd.
• Hitachi Power Semiconductor Device, Ltd.
• Infineon Technologies AG
• Littelfuse Inc.
• Nexperia BV
• ROHM Co. Ltd.
• Skyworks Solutions Inc.
• STMicroelectronics International NV
• Toshiba Electronic Devices & Storage Corporation
• Transphorm Inc.
• Wolfspeed, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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