PUBLISHER: QYResearch | PRODUCT CODE: 1872247
PUBLISHER: QYResearch | PRODUCT CODE: 1872247
The global market for WBG Power Devices was estimated to be worth US$ 2384 million in 2024 and is forecast to a readjusted size of US$ 14059 million by 2031 with a CAGR of 27.6% during the forecast period 2025-2031.
WBG Power Devices refer to power electronic devices manufactured using wide bandgap materials such as silicon carbide (SiC) and gallium nitride (GaN). These materials possess a wider bandgap compared to traditional silicon-based materials, enabling operation at higher temperatures, voltages, and frequencies. They exhibit lower on-state resistance, higher efficiency, and smaller form factors. WBG devices are widely applied in high-efficiency power conversion, electric vehicles, renewable energy systems, and other fields. We focus on the Silicon Carbide (SiC) and gallium nitride (GaN) WBG Power Devices and Modules in this report.
The market drivers for wide bandgap (WBG) semiconductor devices primarily stem from their significant advantages in performance and efficiency, as well as the global demand for improved energy efficiency. First, the rapid expansion of the electric vehicle (EV) market has made WBG devices a critical component in EV power systems due to their ability to operate at higher temperatures, voltages, and frequencies while reducing energy losses. Additionally, the fast-growing renewable energy systems, such as solar inverters and wind power systems, are driving the adoption of WBG devices because they enable more efficient power conversion and higher system reliability. Furthermore, the increasing demand for efficient power management in data centers and telecommunications infrastructure is promoting the market penetration of WBG devices. Due to the lower on-state resistance and higher switching speeds of wide bandgap materials, power electronics can operate at higher efficiencies, reducing cooling requirements and lowering operational costs.
From a trends perspective, WBG semiconductor devices are moving towards higher integration and modularization. In the future, advancements in manufacturing processes and cost reductions will make WBG devices more prevalent, gradually replacing traditional silicon-based devices. Currently, gallium nitride (GaN) and silicon carbide (SiC) are the two leading materials, with SiC dominating high-power applications and GaN being more suitable for high-frequency applications. Over the next few years, these two materials are expected to continue leading the market, but emerging ultra-wide bandgap materials like zinc oxide (ZnO) and diamond may also begin to gain prominence. Moreover, the rise of smart grids, industrial automation, and 5G communications offers vast application prospects for WBG devices. The growing demand for high-performance, low-energy, and compact solutions in these emerging fields will accelerate innovation and development in WBG technology.
This report aims to provide a comprehensive presentation of the global market for WBG Power Devices, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of WBG Power Devices by region & country, by Type, and by Application.
The WBG Power Devices market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding WBG Power Devices.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of WBG Power Devices company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of WBG Power Devices in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of WBG Power Devices in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.