PUBLISHER: The Business Research Company | PRODUCT CODE: 1760440
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760440
Wide bandgap semiconductors are a group of materials that have a larger bandgap energy than conventional semiconductors. This wider bandgap allows these semiconductors to operate at higher voltages, temperatures, and frequencies, making them ideal for high-power and high-efficiency applications. Their ability to reduce energy loss and endure harsh conditions makes them crucial for next-generation electronic devices.
The primary components of wide bandgap semiconductors include diodes, transistors, modules, and substrates. Diodes are semiconductor devices that permit current to flow in one direction while blocking it in the reverse direction. They are commonly used for rectification, voltage regulation, and signal demodulation. These diodes are made from materials such as silicon carbide (SiC), aluminum nitride (AlN), gallium nitride (GaN), diamond, and others, and are applied in various sectors, including hybrid or electric vehicles, photovoltaic inverters, railway traction, wind turbines, power supplies, motor drives, and servers. They serve a wide range of industries, such as automotive, consumer electronics, telecommunications, energy and utilities, aerospace, and defense.
The wide bandgap semiconductors market research report is one of a series of new reports from The Business Research Company that provides wide bandgap semiconductors market statistics, including wide bandgap semiconductors industry global market size, regional shares, competitors with a wide bandgap semiconductors market share, detailed wide bandgap semiconductors market segments, market trends and opportunities, and any further data you may need to thrive in the wide bandgap semiconductors industry. This wide bandgap semiconductors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wide bandgap semiconductors market size has grown rapidly in recent years. It will grow from $2.15 billion in 2024 to $2.43 billion in 2025 at a compound annual growth rate (CAGR) of 13.2%. The growth during the historical period can be attributed to the rising integration of EV inverters and onboard chargers, the demand for faster EV charging infrastructure, the shift toward autonomous and connected vehicles, the development of smart grids, and grid modernization efforts.
The wide bandgap semiconductors market size is expected to see rapid growth in the next few years. It will grow to $3.94 billion in 2029 at a compound annual growth rate (CAGR) of 12.8%. The growth during the forecast period can be attributed to the rising demand for electric vehicles, government incentives for EVs, the growing adoption of energy-efficient power electronics, the increasing use of automation and robotics, and the need for higher power density in UPS systems. Key trends in the forecast period include significant investments in research and development, localization of semiconductor supply chains, the adoption of wide bandgap (WBG) semiconductors in next-generation consumer electronics, their use in motor drives and power supplies, and the adoption of smart factories or Industry 4.0.
The growing demand for electric vehicles (EVs) is expected to propel the growth of the wide bandgap semiconductors market in the coming years. EVs are vehicles powered either fully or partially by electricity, utilizing batteries and electric motors instead of or in addition to internal combustion engines. The demand for electric vehicles is rising as environmental concerns increase, with consumers and governments focusing on reducing greenhouse gas emissions and air pollution by transitioning away from fossil fuel-powered transportation. This surge in electric vehicle adoption is driving the demand for wide bandgap semiconductors, which enhance charging speed and efficiency, reduce energy loss, and improve overall vehicle performance and range. For example, in 2024, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that electric car sales in 2023 increased by 3.5 million units compared to 2022, marking a 35% rise from the previous year. As a result, the growing demand for electric vehicles is fueling the expansion of the wide bandgap semiconductors market.
Leading companies in the wide bandgap semiconductors market are focused on developing cutting-edge products, such as ultra-wide bandgap semiconductors based on diamond and aluminum nitride technologies, to deliver exceptional thermal conductivity. These advanced materials, used in semiconductor devices, take advantage of their superior thermal, electrical, and mechanical properties to enable high-performance and high-power electronic applications. For example, in October 2024, Raytheon, a U.S.-based manufacturer of wide bandgap semiconductors, secured a contract from DARPA, a U.S. government agency, to introduce ultra-wide bandgap semiconductors (UWBGS) based on diamond and aluminum nitride. These innovations are expected to revolutionize semiconductor devices by enhancing power delivery and thermal management in sensors and other electronic applications. The materials are ideal for developing compact, high-power RF switches, limiters, and amplifiers, and their superior thermal conductivity ensures reliable performance under high temperatures and extreme conditions. The goal is to optimize these materials for advanced radar systems, communications, electronic warfare, directed energy, and hypersonic weapon technologies.
In June 2024, Renesas Electronics Corporation, a semiconductor manufacturing company based in Japan, acquired Transphorm Inc. for an undisclosed amount. This acquisition enables Renesas to strengthen its power semiconductor portfolio by incorporating Transphorm's GaN (gallium nitride) technology. The integration is expected to accelerate the development of energy-efficient solutions across key growth markets. Transphorm Inc. is a US-based prominent manufacturer of wide bandgap semiconductors.
Major players in the wide bandgap semiconductors market are Panasonic Corporation, Navitas Semiconductor Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Fujitsu Limited, Texas Instrumennts Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Incorporated, Fuji Electric Co. Ltd., Skyworks Solutions Inc., Qorvo Inc., ROHM Co. Ltd, Vishay Intertechnology Inc., II-VI Incorporated, Nexperia B.V., Wolfspeed Inc., GaN Systems Inc., and Efficient Power Conversion Corporation.
North America was the largest region in the wide bandgap semiconductors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in wide bandgap semiconductors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the wide bandgap semiconductors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The wide bandgap semiconductors market consists of sales of gate drivers, dc-dc converters, on-board chargers and evaluation kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Wide Bandgap Semiconductors Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wide bandgap semiconductors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for wide bandgap semiconductors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wide bandgap semiconductors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.