GaN & SiC Power Semiconductor Market Size By Product, By Application, Application Potential, Competitive Market Share & Forecast, 2023

List of Tables

The global GaN & SiC power semiconductor market size is projected to increase considerably over 2022-2032, due to the growing emphasis on the maintenance of rolling stocks worldwide.

For example, in April 2022, Alstom obtained an eight-year contract from Alpha Trains Group for the maintenance of 70 locomotives on the European corridor. Since rolling stocks are integrated with air conditioning equipment, auxiliary power supply units, propulsion systems, and other power electronics, the strong focus on vehicle maintenance is expected to augment GaN and SiC power semiconductor demand.

The popularity of electric vehicles has also been rising over the years. Based on statistics from the IEA, sales of electric cars reached 6.6 million in 2021, indicating a 3 times increase in market share from two years earlier. Global trends such as these are likely to fuel the adoption of SiC and GaN semiconductors for EV applications.

The GaN & SiC power semiconductor industry is categorized based on product, application, and region.

In terms of product, the market value from the GaN power module segment reached over USD 30 million in 2022. The need for radio frequency in the semiconductor industry and the escalating consumption of electronics is likely to stimulate product demand.

As compared to Laterally Diffused MOSFET technology, GaN power modules can deliver and support high electron mobility, efficiency, and frequencies. With the rapid adoption of 5G technology, the use of these power modules will rise to offer high-quality signal output.

The GaN & SiC power semiconductor market size from the photovoltaic (PV) inverters applications segment was worth over USD 350 million in 2022, as a result of the reliance on clean energy for power generation.

To mitigate the impacts of climate change and lower greenhouse gas emissions, government bodies, especially in emerging economies like Taiwan, India, and South Korea, have also been implementing strict regulations. These initiatives are anticipated to drive the consumption of renewables such as solar energy for electricity generation applications and in consequence, bolster the usage of GaN and SiC semiconductors in PV inverters.

The others application segment, which includes power factor corrections, rolling stocks, and vehicle charging infrastructure, held over 25% share of the GaN & SiC power semiconductor market in 2022. As compared to conventional power electronic devices, wide bandgap semiconductor devices can ensure faster-switching speed and low energy losses, among other key features, contributing to product demand.

Regionally speaking, the North America GaN & SiC power semiconductor industry recorded a revenue of over USD 350 million in 2022. The introduction of favorable policies to promote the clean energy sector may propel the use of power semiconductors in the region.

For example, the U.S. government proposed federal tax incentive schemes including the Modified Accelerated Cost-Recovery System, Renewable Electricity Production Tax Credit, and Residential Energy Credit, among others. These schemes were intended to support and subsidize the installation of clean energy equipment in the country. These initiatives are projected to fuel the consumption of GaN and SiC power semiconductors in PV inverters and other renewable energy applications, in turn strengthening the regional market outlook.

Product Code: 3375

Chapter 1 Methodology & Scope

1.1 Scope and definition
1.2 Methodology & forecast parameters
1.3 COVID-19 impact
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 MEA
1.4 Data Sources
- 1.4.1 Secondary
  - 1.4.1.1 Paid sources
  - 1.4.1.2 Public sources
- 1.4.2 Primary
1.5 Industry Glossary

Chapter 2 Executive Summary

2.1 GaN & SiC power semiconductor industry 360 degree snapshots, 2018-2032
2.2 Business trends
- 2.2.1 TAM, 2023 - 2032
2.3 Regional trends
2.4 Product trends
2.5 Application trends

Chapter 3 GaN & SiC Power Semiconductor Industry Insights

3.1 Introduction
3.2 COVID-19 impact
- 3.2.1 Global impact
- 3.2.2 Impact by region
  - 3.2.2.1 North America
  - 3.2.2.2 Europe
  - 3.2.2.3 Asia Pacific
  - 3.2.2.4 Latin America
  - 3.2.2.5 MEA
- 3.2.3 Impact by value chain
  - 3.2.3.1 Research & development
  - 3.2.3.2 Manufacturing
  - 3.2.3.3 Marketing
  - 3.2.3.4 Supply
- 3.2.4 Impact by competitive landscape
  - 3.2.4.1 Strategy
  - 3.2.4.2 Distribution network
  - 3.2.4.3 Business growth
3.3 Russia-Ukraine war impact
3.4 GaN & SiC power semiconductor industry ecosystem analysis
- 3.4.1 Raw material suppliers
- 3.4.2 Manufacturers
- 3.4.3 Distribution channel analysis
- 3.4.4 Applications
- 3.4.5 Vendor matrix
  - 3.4.5.1 Raw material suppliers
  - 3.4.5.2 Manufacturers
  - 3.4.5.3 Distribution channel analysis
  - 3.4.5.4 Applications
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent landscape
3.8 Key initiative & news
3.9 Regulatory landscape
- 3.9.1 International
- 3.9.2 North America
- 3.9.3 Europe
- 3.9.4 Asia Pacific
- 3.9.5 Latin America
- 3.9.6 MEA
3.10 Industry impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Stronger capabilities of SiC and GaN over Silicon
  - 3.10.1.2 Rising penitration of hybrid and electric vehicles across globally
  - 3.10.1.3 High adoption of power device in renewable energy applications
  - 3.10.1.4 Rising investment in research and development for Wide Band Gap Semiconductors
  - 3.10.1.5 Surge in the investment for infrastructure development and proliferation of 5G technology
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 High use of conventional silicon materials for manufacturing
  - 3.10.2.2 High cost of manufacturing
3.11 Investment portfolio
3.12 Growth potential analysis
3.13 Porter's analysis
- 3.13.1 Threat of new entrant
- 3.13.2 Bargaining power of supplier
- 3.13.3 Bargaining power of buyer
- 3.13.4 Threat of substitution
- 3.13.5 Competitive rivalry
3.14 PESTEL analysis
- 3.14.1 Political
- 3.14.2 Economical
- 3.14.3 Social
- 3.14.4 Technological
- 3.14.5 Legal
- 3.14.6 Environmental

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Completive analysis of key market players, 2022
- 4.3.1 Infineon Technologies AG
- 4.3.2 ON Semiconductor Corporation
- 4.3.3 STMicroelectronics N.V.
- 4.3.4 ROHM CO., LTD.
- 4.3.5 Mitsubishi Electric Corporation
- 4.3.6 Wolfspeed
- 4.3.7 Renesas Electronics Corporation
4.4 Completive analysis of innovative players, 2022
- 4.4.1 Fuji Electric Co., Ltd.
- 4.4.2 Microsemi Corporation
- 4.4.3 Nexperia
- 4.4.4 Toshiba Electronic Devices & Storage Corporation
- 4.4.5 Alpha & Omega Semiconductor
4.5 Vendor adoption matrix
4.6 Strategic outlook matrix

Chapter 5 GaN & SiC Power Semiconductor Market, By Product

5.1 Key trends, by product
5.2 SiC power module
- 5.2.1 Market estimates and forecast, 2018-2032
5.3 GaN power module
- 5.3.1 Market estimates and forecast, 2018-2032
5.4 Discrete SiC
- 5.4.1 Market estimates and forecast, 2018-2032
5.5 Discrete GaN
- 5.5.1 Market estimates and forecast, 2018-2032

Chapter 6 GaN & SiC Power Semiconductor Market, By Application

6.1 Key trends, by application
6.2 Power supplies
- 6.2.1 Market estimates and forecast, 2018-2032
6.3 Industrial motor drives
- 6.3.1 Market estimates and forecast, 2018-2032
6.4 Hybrid/Electric Vehicles (H/EVs)
- 6.4.1 Market estimates and forecast, 2018-2032
6.5 Photovoltaic inverters
- 6.5.1 Market estimates and forecast, 2018-2032
6.6 Traction
- 6.6.1 Market estimates and forecast, 2018-2032
6.7 Others
- 6.7.1 Market estimates and forecast, 2018-2032

Chapter 7 GaN & SiC Power Semiconductor Market, By Region

7.1 Key trends, by region
7.2 North America
- 7.2.1 Market estimates and forecast, 2018-2032
- 7.2.2 Market estimates and forecast, by product, 2018-2032
- 7.2.3 Market estimates and forecast, by application, 2018-2032
- 7.2.4 U.S.
  - 7.2.4.1 Market estimates and forecast, 2018-2032
  - 7.2.4.2 Market estimates and forecast, by product, 2018-2032
  - 7.2.4.3 Market estimates and forecast, by application, 2018-2032
- 7.2.5 Canada
  - 7.2.5.1 Market estimates and forecast, 2018-2032
  - 7.2.5.2 Market estimates and forecast, by product, 2018-2032
  - 7.2.5.3 Market estimates and forecast, by application, 2018-2032
7.3 Europe
- 7.3.1 Market estimates and forecast, 2018-2032
- 7.3.2 Market estimates and forecast, by product, 2018-2032
- 7.3.3 Market estimates and forecast, by application, 2018-2032
- 7.3.4 UK
  - 7.3.4.1 Market estimates and forecast, 2018-2032
  - 7.3.4.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.4.3 Market estimates and forecast, by application, 2018-2032
- 7.3.5 Germany
  - 7.3.5.1 Market estimates and forecast, 2018-2032
  - 7.3.5.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.5.3 Market estimates and forecast, by application, 2018-2032
- 7.3.6 France
  - 7.3.6.1 Market estimates and forecast, 2018-2032
  - 7.3.6.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.6.3 Market estimates and forecast, by application, 2018-2032
- 7.3.7 Italy
  - 7.3.7.1 Market estimates and forecast, 2018-2032
  - 7.3.7.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.7.3 Market estimates and forecast, by application, 2018-2032
- 7.3.8 Spain
  - 7.3.8.1 Market estimates and forecast, 2018-2032
  - 7.3.8.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.8.3 Market estimates and forecast, by application, 2018-2032
- 7.3.9 Russia
  - 7.3.9.1 Market estimates and forecast, 2018-2032
  - 7.3.9.2 Market estimates and forecast, by product, 2018-2032
  - 7.3.9.3 Market estimates and forecast, by application, 2018-2032
7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, 2018-2032
- 7.4.2 Market estimates and forecast, by product, 2018-2032
- 7.4.3 Market estimates and forecast, by application, 2018-2032
- 7.4.4 China
  - 7.4.4.1 Market estimates and forecast, 2018-2032
  - 7.4.4.2 Market estimates and forecast, by product, 2018-2032
  - 7.4.4.3 Market estimates and forecast, by application, 2018-2032
- 7.4.5 India
  - 7.4.5.1 Market estimates and forecast, 2018-2032
  - 7.4.5.2 Market estimates and forecast, by product, 2018-2032
  - 7.4.5.3 Market estimates and forecast, by application, 2018-2032
- 7.4.6 Japan
  - 7.4.6.1 Market estimates and forecast, 2018-2032
  - 7.4.6.2 Market estimates and forecast, by product, 2018-2032
  - 7.4.6.3 Market estimates and forecast, by application, 2018-2032
- 7.4.7 South Korea
  - 7.4.7.1 Market estimates and forecast, 2018-2032
  - 7.4.7.2 Market estimates and forecast, by product, 2018-2032
  - 7.4.7.3 Market estimates and forecast, by application, 2018-2032
- 7.4.8 Taiwan
  - 7.4.8.1 Market estimates and forecast, 2018-2032
  - 7.4.8.2 Market estimates and forecast, by product, 2018-2032
  - 7.4.8.3 Market estimates and forecast, by application, 2018-2032
7.5 Latin America
- 7.5.1 Market estimates and forecast, 2018-2032
- 7.5.2 Market estimates and forecast, by product, 2018-2032
- 7.5.3 Market estimates and forecast, by application, 2018-2032
- 7.5.4 Brazil
  - 7.5.4.1 Market estimates and forecast, 2018-2032
  - 7.5.4.2 Market estimates and forecast, by product, 2018-2032
  - 7.5.4.3 Market estimates and forecast, by application, 2018-2032
- 7.5.5 Mexico
  - 7.5.5.1 Market estimates and forecast, 2018-2032
  - 7.5.5.2 Market estimates and forecast, by product, 2018-2032
  - 7.5.5.3 Market estimates and forecast, by application, 2018-2032
7.6 MEA
- 7.6.1 Market estimates and forecast, 2018-2032
- 7.6.2 Market estimates and forecast, by product, 2018-2032
- 7.6.3 Market estimates and forecast, by application, 2018-2032

Chapter 8 Company Profiles

8.1 Alpha & Omega Semiconductor
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
8.2 CISSOID
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic Outlook
- 8.2.5 SWOT Analysis
8.3 Diodes Incorporated
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
8.4 Fuji Electric Co., Ltd.
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
8.5 Infineon Technologies AG
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
8.6 Littlefuse, Inc.
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
8.7 Microsemi Corporation
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
8.8 Mitsubishi Electric Corporation
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
8.9 Nexperia
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
8.10 ON Semiconductor Corporation
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
8.11 Renesas Electronic Corporation
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
8.12 ROHM Co.,Ltd.
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis
8.13 SEMIKRON
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 Strategic Outlook
- 8.13.5 SWOT Analysis
8.14 Sensitron Semiconductor
- 8.14.1 Business Overview
- 8.14.2 Financial Data
- 8.14.3 Product Landscape
- 8.14.4 Strategic Outlook
- 8.14.5 SWOT Analysis
8.15 STMicroelectronics N.V.
- 8.15.1 Business Overview
- 8.15.2 Financial Data
- 8.15.3 Product Landscape
- 8.15.4 Strategic Outlook
- 8.15.5 SWOT Analysis
8.16 TOSHIBA ELECTRONICS DEVICES & STORAGE CORPORATION
- 8.16.1 Business Overview
- 8.16.2 Financial Data
- 8.16.3 Product Landscape
- 8.16.4 Strategic Outlook
- 8.16.5 SWOT Analysis
8.17 Vishay Intertechnology
- 8.17.1 Business Overview
- 8.17.2 Financial Data
- 8.17.3 Product Landscape
- 8.17.4 Strategic Outlook
- 8.17.5 SWOT Analysis
8.18 Wolfspeed
- 8.18.1 Business Overview
- 8.18.2 Financial Data
- 8.18.3 Product Landscape
- 8.18.4 Strategic Outlook
- 8.18.5 SWOT Analysis