Global GaN and SiC Power Semiconductor Market Growth 2024-2030

Global GaN and SiC Power Semiconductor Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global GaN and SiC Power Semiconductor market size was valued at US$ 994.3 million in 2023. With growing demand in downstream market, the GaN and SiC Power Semiconductor is forecast to a readjusted size of US$ 4192.3 million by 2030 with a CAGR of 22.8% during review period.

The research report highlights the growth potential of the global GaN and SiC Power Semiconductor market. GaN and SiC Power Semiconductor are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of GaN and SiC Power Semiconductor. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the GaN and SiC Power Semiconductor market.

The power semiconductor is the core of electronic device electrical energy conversion and circuit control. In essence, it uses the unidirectional conductivity of the semiconductor to realize the function of power switch and power conversion. Whether it is hydropower, nuclear power, thermal power or wind power, or even the chemical energy provided by various batteries, most of them cannot be directly used. More than 75% of the electrical energy applications require power conversion by power semiconductor devices before they can be used by equipment.

According to our Semiconductor Research Center, in 2022, the global SiC wafer was valued at US$ 750 million, will grow rapidly in next six years, driven by the strong demand from electric vehicle (EV). Currently the 6 inch SiC substrates are dominating this market, and in next six years, more players will put into production the 8 inch SiC wafers. Currently the key players of SiC are mainly located headquartered United States, Europe, Japan and China, especially in China, more companies are entering the SiC market. It is predicted that, Chinese companies will play key roles in the SiC market in next ten years.

Key Features:

The report on GaN and SiC Power Semiconductor market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the GaN and SiC Power Semiconductor market. It may include historical data, market segmentation by Type (e.g., SiC Power Module, GaN Power Module), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the GaN and SiC Power Semiconductor market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the GaN and SiC Power Semiconductor market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the GaN and SiC Power Semiconductor industry. This include advancements in GaN and SiC Power Semiconductor technology, GaN and SiC Power Semiconductor new entrants, GaN and SiC Power Semiconductor new investment, and other innovations that are shaping the future of GaN and SiC Power Semiconductor.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the GaN and SiC Power Semiconductor market. It includes factors influencing customer ' purchasing decisions, preferences for GaN and SiC Power Semiconductor product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the GaN and SiC Power Semiconductor market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting GaN and SiC Power Semiconductor market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the GaN and SiC Power Semiconductor market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the GaN and SiC Power Semiconductor industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the GaN and SiC Power Semiconductor market.

Market Segmentation:

GaN and SiC Power Semiconductor market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
SiC Power Module
GaN Power Module
Discrete SiC
Discrete GaN

Segmentation by application
Power supplies
Industrial motor drives
PV inverters
Traction

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Mitsubishi Electric Corporation
Infineon Technologies AG
ROHM Semiconductor
NXP Semiconductors

Key Questions Addressed in this Report

What is the 10-year outlook for the global GaN and SiC Power Semiconductor market?

What factors are driving GaN and SiC Power Semiconductor market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do GaN and SiC Power Semiconductor market opportunities vary by end market size?

How does GaN and SiC Power Semiconductor break out type, application?

Please note: The report will take approximately 2 business days to prepare and deliver.