Global SiC & GaN Power Semiconductor Market Size is Valued at $1.6 Billion in 2024 and is forecast to register a growth rate (CAGR) of 11.5% to reach $3.8 Billion by 2032.
The global SiC & GaN Power Semiconductor Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Material (SiC, GaN), By Component (SiC Power Modules, GaN Power Modules, Discrete SiC Power Devices, Discrete GaN Power Devices), By Application (Power Supplies, Wireless Charging, Power Storage, Hybrid & EV Components, HEV Charging Equipment, Motor Drives, PV Inverters, Traction Motor Components, Others)
An Introduction to SiC & GaN Power Semiconductor Market
The Silicon Carbide (SiC) and Gallium Nitride (GaN) Power Semiconductor Market is expanding as demand for high-efficiency power electronics grows. SiC and GaN semiconductors offer superior performance compared to traditional silicon devices, including higher efficiency, faster switching, and better thermal management. The market growth is driven by the increasing adoption of electric vehicles, renewable energy systems, and advanced industrial applications. Advancements in material science, manufacturing processes, and significant investments in research and development are further propelling market growth.
SiC & GaN Power Semiconductor Market Competitive Landscape
The market report analyses the leading companies in the industry including Alpha & Omega Semiconductor, Avogy Inc, Cambridge Electronics, Danfoss A/S, Exagan S.A.S, Fuji Electric Systems Co. Ltd, GaN Systems Inc, Genesic Semiconductor Inc, Global Power Technologies Group, Infineon Technologies, Microsemi Corp, NXP Semiconductors N.V., Panasonic Corp, Raytheon Company, Renesas Electronics, ROHM Semiconductor, SEMIKRON International GmbH, STMicroelectronics N.V., Transform Inc, United Silicon Carbide Inc, Vincotech GmbH, VisIC Technologies Ltd, Wolfspeed Inc, and others.
SiC & GaN Power Semiconductor Market Dynamics
SiC & GaN Power Semiconductor Market Trend: Transition to Wide Bandgap Semiconductors
A significant trend in the SiC & GaN Power Semiconductor Market is the ongoing transition from traditional silicon-based semiconductors to wide bandgap semiconductors such as silicon carbide (SiC) and gallium nitride (GaN). As industries seek to enhance the efficiency, performance, and reliability of power electronics systems, there is a growing recognition of the advantages offered by SiC and GaN semiconductors, including higher breakdown voltage, lower on-resistance, and faster switching speeds. This trend reflects the industry's shift towards more energy-efficient and compact power semiconductor solutions capable of addressing the evolving demands of applications such as electric vehicles, renewable energy, industrial motor drives, and power supplies.
SiC & GaN Power Semiconductor Market Driver: Demand for High-Power Density and Energy Efficiency
The demand for high-power density and energy-efficient electronic devices is a major driver fueling the growth of the SiC & GaN Power Semiconductor Market. With increasing requirements for power electronics systems to deliver higher performance and energy efficiency in applications such as electric vehicles, solar inverters, and data centers, there is a growing need for advanced semiconductor materials that can withstand higher voltages, operate at higher temperatures, and minimize energy losses. SiC and GaN power semiconductors offer significant advantages over traditional silicon-based devices in terms of power handling capabilities, enabling the development of more compact and efficient power conversion systems. This driver underscores the importance of power semiconductor technologies in driving innovation and addressing the challenges of achieving higher power density and energy efficiency in modern electronic devices.
SiC & GaN Power Semiconductor Market Opportunity: Expansion into Emerging Applications
One potential opportunity within the SiC & GaN Power Semiconductor Market lies in the expansion into emerging applications and industries that require high-performance and reliable power electronics solutions. As SiC and GaN technologies mature and production costs decrease, opportunities emerge for these wide bandgap semiconductors to penetrate new markets such as 5G telecommunications infrastructure, aerospace and defense systems, medical devices, and consumer electronics. By leveraging the unique capabilities of SiC and GaN power semiconductors, such as high-frequency operation, high-temperature tolerance, and high-voltage handling, companies can address the specific requirements of these emerging applications and gain a competitive edge in niche markets. This opportunity allows for diversification and expansion into new application areas, tapping into the growing demand for advanced power semiconductor solutions beyond traditional markets such as automotive and industrial automation.
SiC & GaN Power Semiconductor Market Share Analysis: SiC Power Semiconductors generated the highest revenue in 2024In the landscape of SiC & GaN Power Semiconductor Market segmentation by material, Silicon Carbide (SiC) emerges as the clear leader, commanding the largest share. SiC power semiconductors have gained widespread adoption across various industries, including automotive, industrial, renewable energy, and telecommunications, owing to their superior performance characteristics such as higher power density, lower switching losses, and better thermal conductivity compared to traditional silicon-based counterparts. As industries continue to prioritize energy efficiency, reliability, and miniaturization, the demand for SiC power semiconductors is witnessing exponential growth, driving innovation and reshaping power electronics applications. With SiC technology at the forefront of the semiconductor revolution, it remains the material of choice for powering the future of electrification and digitalization across diverse sectors.SiC & GaN Power Semiconductor Market Share Analysis: SiC Power Modules is poised to register the fastest CAGR over the forecast period to 2030SiC Power Modules emerge as the fastest-growing segment propelling the SiC & GaN Power Semiconductor Market forward till 2030. With industries increasingly embracing SiC technology for its superior efficiency, reliability, and power density, SiC power modules play a pivotal role in enabling advanced power electronics solutions across various applications including automotive, renewable energy, industrial, and telecommunications. As the demand for compact, lightweight, and energy-efficient power systems continues to surge, SiC power modules offer a compelling solution with their ability to handle high power densities and operate at elevated temperatures. With advancements in packaging technology and manufacturing processes, SiC power modules are poised for exponential growth, driving innovation and reshaping the landscape of power semiconductor devices in the coming decade.SiC & GaN Power Semiconductor Market Share Analysis: Power Supplies generated the highest revenue in 2024In the SiC & GaN Power Semiconductor Market segmentation by application, Power Supplies emerge as the dominant sector, commanding the largest share. With the increasing demand for energy-efficient and compact power solutions across various industries, SiC and GaN power semiconductors play a crucial role in enhancing the performance and efficiency of power supplies. From consumer electronics to industrial equipment, power supplies equipped with SiC and GaN semiconductor devices offer benefits such as higher power density, reduced size and weight, and improved thermal management. As industries strive to meet stringent energy efficiency standards and embrace sustainable practices, the adoption of SiC and GaN power semiconductors in power supplies is expected to continue its upward trajectory, solidifying its position as the cornerstone of power electronics applications.
SiC & GaN Power Semiconductor Market Report Segmentation
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
SiC & GaN Power Semiconductor Market Companies Profiled in the Study
Alpha & Omega Semiconductor
Avogy Inc
Cambridge Electronics
Danfoss A/S
Exagan S.A.S
Fuji Electric Systems Co. Ltd
GaN Systems Inc
Genesic Semiconductor Inc
Global Power Technologies Group
Infineon Technologies
Microsemi Corp
NXP Semiconductors N.V.
Panasonic Corp
Raytheon Company
Renesas Electronics
ROHM Semiconductor
SEMIKRON International GmbH
STMicroelectronics N.V.
Transform Inc
United Silicon Carbide Inc
Vincotech GmbH
VisIC Technologies Ltd
Wolfspeed Inc
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 SiC & GaN Power Semiconductor Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global SiC & GaN Power Semiconductor Market Size Outlook, $ Million, 2021 to 2030
3.2 SiC & GaN Power Semiconductor Market Outlook by Type, $ Million, 2021 to 2030
3.3 SiC & GaN Power Semiconductor Market Outlook by Product, $ Million, 2021 to 2030
3.4 SiC & GaN Power Semiconductor Market Outlook by Application, $ Million, 2021 to 2030
3.5 SiC & GaN Power Semiconductor Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of SiC & GaN Power Semiconductor Industry
4.2 Key Market Trends in SiC & GaN Power Semiconductor Industry
4.3 Potential Opportunities in SiC & GaN Power Semiconductor Industry
4.4 Key Challenges in SiC & GaN Power Semiconductor Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global SiC & GaN Power Semiconductor Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global SiC & GaN Power Semiconductor Market Outlook by Segments
7.1 SiC & GaN Power Semiconductor Market Outlook by Segments, $ Million, 2021- 2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
8 North America SiC & GaN Power Semiconductor Market Analysis and Outlook To 2030
8.1 Introduction to North America SiC & GaN Power Semiconductor Markets in 2024
8.2 North America SiC & GaN Power Semiconductor Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America SiC & GaN Power Semiconductor Market size Outlook by Segments, 2021-2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
9 Europe SiC & GaN Power Semiconductor Market Analysis and Outlook To 2030
9.1 Introduction to Europe SiC & GaN Power Semiconductor Markets in 2024
9.2 Europe SiC & GaN Power Semiconductor Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe SiC & GaN Power Semiconductor Market Size Outlook by Segments, 2021-2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
10 Asia Pacific SiC & GaN Power Semiconductor Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific SiC & GaN Power Semiconductor Markets in 2024
10.2 Asia Pacific SiC & GaN Power Semiconductor Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific SiC & GaN Power Semiconductor Market size Outlook by Segments, 2021-2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
11 South America SiC & GaN Power Semiconductor Market Analysis and Outlook To 2030
11.1 Introduction to South America SiC & GaN Power Semiconductor Markets in 2024
11.2 South America SiC & GaN Power Semiconductor Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America SiC & GaN Power Semiconductor Market size Outlook by Segments, 2021-2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
12 Middle East and Africa SiC & GaN Power Semiconductor Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa SiC & GaN Power Semiconductor Markets in 2024
12.2 Middle East and Africa SiC & GaN Power Semiconductor Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa SiC & GaN Power Semiconductor Market size Outlook by Segments, 2021-2030
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Alpha & Omega Semiconductor
Avogy Inc
Cambridge Electronics
Danfoss A/S
Exagan S.A.S
Fuji Electric Systems Co. Ltd
GaN Systems Inc
Genesic Semiconductor Inc
Global Power Technologies Group
Infineon Technologies
Microsemi Corp
NXP Semiconductors N.V.
Panasonic Corp
Raytheon Company
Renesas Electronics
ROHM Semiconductor
SEMIKRON International GmbH
STMicroelectronics N.V.
Transform Inc
United Silicon Carbide Inc
Vincotech GmbH
VisIC Technologies Ltd
Wolfspeed Inc
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Material
SiC
GaN
By Component
SiC Power Modules
GaN Power Modules
Discrete SiC Power Devices
Discrete GaN Power Devices
By Application
Power Supplies
Wireless Charging
Power Storage
Hybrid & EV Components
HEV Charging Equipment
Motor Drives
PV Inverters
Traction Motor Components
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
